In a post on February 8, 2012 I referred to an excellent article by Pauline W. Chen, M.D. She described how involvement in a medical malpractice action can negatively impact a physican’s way of practicing medicine.
Dr. Chen recently published another article in the New York Times that is also noteworthy. She explains how a medical malpractice
The possibility of a malpractice lawsuit is a constant concern for most physicians. A malpractice lawsuit can have serious personal and financial consequences. And physicians in private practice face another financial worry. They are running a business; and that business (like any other business) can face a sudden, serious downturn or even go bankrupt.
A recent on-line article
An $8.5 million jury verdict seems high, doesn’t it? But if you consider that the injured party was an infant who suffered brain damage (and will require lifelong care), then the amount of damages could be perfectly reasonable.
According to a recent article by Tom Feran in the Cleveland Plain Dealer, a Cuyahoga County Common
Being named as a defendant in a medical malpractice case can be emotionally devastating to a physician — even if the physician is only peripherally involved in the case. Very few people fully appreciate how troubling it can be for a doctor who is named in such a lawsuit.
Just in case you need another reminder to develop your own personal asset protection plan…
More than half the states have tried to place caps on jury awards in malpractice cases. But the caps have been struck down by courts in several states. On Monday, the Georgia Supreme Court (in a seven-zero decision) struck down a
Whether you are a physician in private practice or working for a hospital or other health care organization, you should consider some basic steps to protect your assets. Here are a few suggestions:
A couple weeks ago I posted some general observations about asset protection planning for physicians. While a doctor should be taking steps to protect his or her own personal assets, physicians in a private medical practice should be taking additional steps to protect the private practice itself. Here are some items worth thinking about:
1. Consider
Physicians should have no hesitation whatsoever in protecting their assets to the greatest extent allowed by applicable laws. Physicians have a greater need for asset protection planning than many other individuals simply because of the nature of their work.
If a professional baseball player consistently strikes out half of the time but gets a base
