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Medical Partnership Agreement
"I need a Medical Partnership Agreement for three dermatologists establishing a new practice in California, with equal ownership shares and shared on-call duties, planning to start operations on March 1, 2025."
1. Parties: Identification of all partner physicians and any other parties to the agreement
2. Background: Context of the partnership formation and brief history of the practice or partners
3. Definitions: Detailed definitions of key terms used throughout the agreement
4. Partnership Formation and Term: Details of partnership establishment, effective date, and duration
5. Capital Contributions: Initial and ongoing capital requirements from each partner
6. Ownership and Profit Sharing: Partnership ownership percentages and profit distribution methodology
7. Management and Voting Rights: Governance structure, voting requirements, and decision-making processes
8. Partners' Duties and Responsibilities: Professional obligations, work requirements, and administrative duties
9. Compliance and Professional Standards: HIPAA compliance, medical standards, and regulatory requirements
10. Financial Management: Banking, accounting practices, and financial reporting requirements
11. Insurance and Liability: Professional liability, general insurance requirements, and indemnification
12. Non-Competition and Confidentiality: Restrictions on competitive activities and protection of practice information
13. Admission of New Partners: Process and requirements for adding new partners to the practice
14. Withdrawal, Retirement, and Termination: Procedures for partner exit, retirement, and partnership dissolution
15. Dispute Resolution: Process for resolving partnership disputes and mediation procedures
16. General Provisions: Standard legal provisions including governing law, amendments, and notices
1. Medical Equipment and Technology: Specific provisions for sharing, maintaining, and upgrading medical equipment and technology systems
2. Intellectual Property: Provisions for handling practice-related intellectual property, particularly relevant if the practice develops unique medical procedures or research
3. Employee Management: Procedures for hiring, managing, and terminating support staff and other medical professionals
4. Research and Academic Activities: Provisions for handling medical research, academic appointments, and teaching responsibilities
5. Multiple Location Provisions: Specific terms for practices operating in multiple locations
6. Call Schedule and Coverage: Detailed provisions for emergency coverage and on-call responsibilities
7. Buy-Sell Provisions: Detailed procedures for buying out partners in specific circumstances
8. Family Leave and Sabbatical: Terms for extended leave arrangements and coverage during absence
1. Schedule A - Capital Contributions: Detailed list of initial capital contributions from each partner
2. Schedule B - Partnership Interests: Current ownership percentages and voting rights of all partners
3. Schedule C - Practice Locations: List of all practice locations and facilities
4. Schedule D - Equipment Inventory: Comprehensive list of partnership-owned medical equipment and assets
5. Schedule E - Insurance Policies: Details of all insurance policies and coverage amounts
6. Appendix 1 - Administrative Procedures: Detailed operational procedures and protocols
7. Appendix 2 - Compliance Manual: HIPAA and other regulatory compliance procedures
8. Appendix 3 - Compensation Formula: Detailed methodology for calculating partner compensation and bonuses
9. Appendix 4 - Buy-Sell Valuation Method: Agreed methodology for valuing partnership interests
Authors
Healthcare
Medical Services
Healthcare Administration
Professional Services
Medical Practice Management
Healthcare Technology
Medical Research
Ambulatory Care Services
Specialized Medical Services
Legal
Compliance
Finance
Operations
Administration
Risk Management
Human Resources
Clinical Operations
Business Development
Quality Assurance
Physician
Medical Director
Healthcare Administrator
Practice Manager
Chief Medical Officer
Managing Partner
Healthcare Compliance Officer
Medical Practice Administrator
Chief Financial Officer
Legal Counsel
Healthcare Operations Director
Medical Group Executive
Clinical Director
Business Development Manager
Risk Management Officer
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