Long Island Healthcare Transactions Lawyer

Healthcare Transactions Attorney in Long Island

Corporate transactions in the healthcare sector have a lot of regulatory requirements, which make them uniquely complex. When you are a business owner, manager, or decision-maker for a healthcare entity or practice, it is much easier to navigate these highly regulated transactions with a Long Island healthcare transactions lawyer.

You may be forming a healthcare business, conducting an acquisition, or navigating the daily business needs of a medical organization. When you hire a healthcare transactions lawyer, they can address the many aspects of these regulations, from healthcare licensure to certification to controlled substance laws to employment requirements.

Weiss Zarett Brofman Sonnenklar & Levy, P.C.: Experienced Legal Advice for Healthcare Transaction Cases

You need exceptional legal support with in-depth knowledge of business law, healthcare law, employment law, and many other areas essential to healthcare corporate transactions. At Weiss Zarett Brofman Sonnenklar & Levy, P.C., we have decades of experience in these areas of law, and we have handled a variety of transactions for healthcare companies.

We can provide diligent and comprehensive legal advice as you navigate a transaction, and we are always on top of changes to regulations, along with how they impact your existing business or any transactions you want to make in the future. Our firm has experience with many transactions, including those that deal with the courts, like Long Island’s 10th Judicial District courts, for disputes or filing certain forms.

When you are beginning a practice or otherwise managing a healthcare business, there is a lot to do. By working with our firm, you can ease your stress and focus on your company. Our attorneys never pass along cases to less-experienced employees; instead, they use their knowledge and resources to bring you exceptional advice and support.

Types of Transactions in the Long Island Healthcare Industry

Many corporate transactions occur in the healthcare industry, including those involving:

• Mergers and acquisitions
• Partnership agreements
• Business associates and partnership agreements
• Employment regulations
• Buy/sell agreements
• Management and employment decisions
• Leasing and service agreements

Several types of business transactions commonly take place in the healthcare industry, including:

Forming a Medical Practice

There are many considerations when opening a medical practice as a physician or other healthcare provider. These include:

• Determining the right form of business entity the practice should be. This impacts both liability and taxes. Entity types include professional service corporations (PCs), professional limited liability partnerships (LLPs), and professional limited liability corporations (PLLCs).

• Hiring staff. When you hire employees, it is crucial that you follow all employee and labor laws, including those for contracts, health insurance, and workers’ compensation insurance. When forming a medical practice, it is also important to make sure you have licensed and/or certified staff you can trust.

• Creating a compliance plan. Healthcare entities must comply with many regulations, such as the Stark Law, the Anti-Kickback Statute, and the False Claims Act. It is crucial to have a compliance plan in place from the beginning. This can limit the risks of audits, investigations, and negative outcomes froh3 these cases.

There are other requirements, such as selecting a location, paying for or renting equipment and technology, and navigating insurance panels.

In 2024, there were nearly 850 adverse actions against healthcare providers listed by the National Practitioner Data Bank in New York. When these adverse actions impact your ability to practice or threaten the well-being of patients, it can severely affect your medical practice’s reputation and longevity.

Partnerships, Limited Liability Companies, and Corporations

Business ventures, including those for a new practice or other healthcare organization, need to be managed carefully. The type of business structure you choose affects many aspects of your enterprise.

• Partnerships. Partnerships are formed when two or more healthcare entities or providers join together. It is important that there is a written agreement made, with legal oversight, that outlines each party’s responsibilities. This form of business entity leaves individuals open to personal liability.

• Corporations. Corporations are legal entities; therefore, personal assets are rarely liable. The formation and maintenance of corporations are much stricter, and specific rules and record-keeping must be followed.

• LLCs. A limited liability company (LLC) also does not hold members personally liable except in cases where it is stated that they will be liable. An LLC requires a written operating agreement, and the formation can be very technically complex. Taxes can either follow the structure of a corporation or a partnership.

Merging With a Mega Group or Hospital

Healthcare professionals who have been offered a merger with a mega medical group or a hospital should consider both the advantages and drawbacks of the offer with a skilled Long Island healthcare transactions attorney. It is important to evaluate the:

• Amount of autonomy as a physician group for business operation
• Interests of other members of the practice
• Amount of administrative requirements
• Improvements in take-home pay
• Administrative fees paid to the hospital
• Offered value of a buyout or benefits in case of retirement, withdrawal, death, or disability
• Cost of malpractice insurance
• Existence of a restrictive covenant, similar to a non-compete clause, if you terminate the merger with the hospital
• Requirements to file a notice with the state prior to finalizing any merger or acquisition

Leaving After a Merger

If you are a healthcare provider who entered into a merger with a mega medical group or hospital, you might want to leave the merger at some point. If so, it is important to do so with the guidance of an attorney. They can consider options such as joining with other medical providers or reopening an individual practice.

Working with an attorney is crucial for:

• Ensuring the consideration of contracts
• The terms of withdrawal
• Providing the necessary notice
• Buying back assets
• Transferring patient records
• Setting up a practice without violating a restrictive covenant

Other important transactions in healthcare businesses include:

• Physician employment contracts
• Physician advertising
• Healthcare business succession planning
• Telemedicine
• Private equity transactions
• Management Services Organizations (MSOs)
• Independent Practice Associations (IPAs)
• Third-party vendor relationships and business associates

Navigating Healthcare Transaction Laws With a Skilled Long Island Attorney

Healthcare business transactions are subject to many overlapping and technical regulations, so securing support from a knowledgeable professional is crucial.

At Weiss Zarett Brofman Sonnenklar & Levy, P.C., we understand the legal issues that affect many types of healthcare businesses, from chiropractic care to independent physicians to ambulatory surgery centers. It is crucial to work with our experienced team to plan out corporate transactions while protecting your rights and following regulations. Reach out to our firm today.