I went Live on Facebook last Friday to answer a few questions that providers continue to have. I have had so many responses and follow-up questions to last Friday's Live session, and I thought it would be beneficial to post the Live video and reiterate the helpful content. (Please note that the Live recording lags for just the first 20 seconds of the video.)
Recently, during my Functional Lawyer Membership Office Hours, I was talking to a provider who wanted to register her telemedicine practice in Florida-- because Florida allows for out-of-state practitioners to do so, as long as they have a license in good standing in another state. (If you need more information about this, you can go to www.functionallawyer.com/florida , and there is a step-by-step guide for you.) The provider I was helping had a good question, and one that often comes up: "What about insurance?"
The ins and outs of insurance are not always...
The number one question I have been getting recently is, “What is the scope of a health coach?”
A lot of doctors, chiropractors, NPs, etc. are frustrated by their licensure because they want to move freely around the country and practice medicine, but it is illegal to do so if you are not licensed in the state in which your patient is located.
It can be frustrating to see licensed practitioners who are labeling themselves as “health coaches” in order to give medical advice and treat patients, which is also illegal. Equally frustrating are health coaches who are acting as doctors and prescribing treatment while actual licensed professionals' hands are tied in fear of losing their license by helping someone out-of-state.
The myth that is going around is that you should just call yourself a “health coach” or a “consultant” so that you can do whatever you want wherever you want. While it is...
You may, like me, be a fan of the cult classic The Princess Bride. But, even if you are not, it's likely you have come across this oft-repeated line in the movie:
The joke is that each time this character makes the exclamation, the thing being discussed is actually very possible if not probable.
And it pays off later in the film with another character saying:
It's a funny part of the movie that takes some time to set up, but with a satisfying payoff.
"But, Scott, what does that have to do with S-Corps? Just get to the point already."
Many new (and experienced) business owners are very confused about S-Corps and what they are and are not.
It isn't really their fault; S-corp is really poorly named, and here is why:
An S-corporation is a tax status with the IRS, NOT a type of entity. LLCs and other entities can elect S-corp status as well.
So each time I ask someone what kind of entity they have, and they respond with "S-Corp," I have to clarify:...
Did you know there are good fears and bad fears? There are fears that hold you back and fears that keep you safe. And then there are also fears that can be mitigated and, a lot of times, erased if you just did a little digging and self-exploration.
I know a bit about all of these types of fears and have experienced them on many levels while being an attorney, founding Functional Lawyer, and starting a functional medicine practice with my wife. I left a very secure job at a well-paying law firm in a big, fancy downtown high rise in order to found Functional Lawyer, and I'm aware of the fear that entrepreneurs encounter every day. It's a really scary world out there.
However, I have learned that there's good fear, and there's bad fear, and both can be relevant to you as functional medicine providers. Recently, in 2021, I spoke with a provider who had been leasing an office for two years. And because she was so afraid of putting herself out there due to legal risks...
We are kicking off today's blog with great news! West Virginia has now been added to states who have expanded telemedicine to their own citizens and lowered the barriers for telemedicine's out-of-state practitioners.
This is part of a larger growing trend of states who are lowering barriers to telemedicine, and the best part about West Virginia's law is that there are not a lot of restrictions.
West Virginia becomes the latest state to enact some form of telemedicine registration for out-of-state practitioners to practice telemedicine in their state. This means that where the patient is located is where the telemedicine is deemed to occur. (If you don't have a license or a special purpose or registration like West Virginia has just adopted, then you're practicing medicine there illegally, and you can get fined criminally and civilly.)
In this growing trend, we have seen many states now offering what some call "Special Purpose"...
Today at Functional Lawyer, we are talking about professional corporations, professional LLCs, and other professional entities. What are they? How are they different from regular corporations? Are there any specific naming rules that you have to follow? I will be covering a variety of licensing questions, some protections for you against malpractice, and some taxation rules as well.
Firstly, a professional corporation is a corporation that is formed by licensed professionals whose company’s purpose is to provide the service that they're licensed to practice. To put it simply, it is a group of licensed professionals forming a business.
One of the first things to consider is the naming conventions that are in play when forming a corporation. Most states’ rules vary a little bit here, but at the very least, you may be required to have the initials “PC” for a professional corporation,...
You should already know that you can't practice medicine across state lines unless you are licensed where the patient is located. Doing so can subject you to civil and criminal liability and monetary fines for engaging in the unauthorized practice of medicine.
But today I have great news for you the conscientious provider who wants to expand your practice safely:
In 2019, the state of Florida passed a law allowing out-of-state providers to practice telemedicine in Florida.
Florida number 3 when it comes to population size with over 21.7 million residents (read: 21.7 potential new patients for your practice).
All you have to do is register with the state of Florida through the department of health and follow a few basic rules that are pretty easy, and you can start seeing Florida patients. And most importantly, you're doing it all legally.
You will have a valid license to...
Today I'm talking about how to get a handle on and take charge of the financial cash flow of your business so that money, specifically cash flow of money, isn't a stress point or something that you avoid in your practice.
Now, I've seen this consistent concern from numerous doctors in my Functional Lawyer Membership and in general conversation with other doctors: cashflow is a stressful part of running a business. This is very common with small business owners, and I’ve seen it firsthand at Functional Lawyer and through my wife's functional medicine practice.
Today, I have a recommendation that will help you take charge of your cash flow so that you're not in a place where you're unsure if you can pay bills this month or worried that there's not going to be enough money at the end of the month for you to pay yourself.
The tool that I recommend, and this is a system that I've implemented at Functional Lawyer because it works so well at Origins...
All right. You're really excited you've made the decision that you want to open your own practice or your own business. You've kind of made that choice mentally and now you have to figure out a name. Uh oh. That holds a lot of people back because it takes them a long time to figure out the perfect name. And then when they do, they fall in love with the name and then they realized somebody else had it.
So today, we're going to talk about:
So, all right, the first choice you have to make is what are you going to call it? Obviously, that is the choice of the hour,...