LA 1367: MEDICAL PRACTICE MANAGEMENT AGREEMENT FOR DOCTOR GROUP PRACTICING MEDICINE $99.95
|Medical Practice Management Agreement
|Practice Manager, who will manage the business operations of the medical practice, and the Medical Practice, consisting of a doctor group practicing medicine
|Monthly Fixed Fee Payable By Medical Practice to the Practice Manager
|Authority of Practice Manager
|Practice Manager is responsible for business operation of the Medical Practice, including hiring medical support staff pursuant to specified guidelines, equipment, supplies, financial record keeping, business expansion, billing, management and administration
|Payment of Management Fee
|Management Fee to be paid on a specified day of the month for the prior month's management services
|Term of Agreement
|Specified Fixed Term
|Disputes between the parties to be resolved using arbitration
|Status of Practice Manager
|Practice Manager is an independent contractor
|Exhibits To Be Attached
|Exhibits to be completed and attached as follows: Applicable Medical Ethics Associations, Applicable Medical Staff Standards, Applicable Physician Standards, and Management Fee
|Number of Single Spaced Pages
This Business Operations and Support Services Agreement (this “Agreement”) is made and entered into this ___ day of _________, 20___, effective as of _______________, 20__ (“Effective Date”), by and between Medical Practice Management, a ___________ corporation (“Practice Manager”), and Medical Associates of __________, P.C., a __________ professional services corporation (“Medical Practice”) located at ________________, __________.
WHEREAS, Medical Practice is a duly formed and validly existing professional services corporation; and
WHEREAS, Medical Practice is formed for and engaged in the conduct of a medical practice and the provision of medical services to the general public in the State of __________ through individual physicians who are licensed to practice medicine in the State of __________ and who are shareholders of Medical Practice or are employed or otherwise retained by Medical Practice; and
WHEREAS, Practice Manager is a duly formed and validly existing __________ Partnership, which is in the business of providing both medical administrative and related services to professional associations, physicians, and other professional health care entities and individuals. Practice Manager is experienced in the design, development, financing, equipping, staffing, accounts receivable management, and marketing of medical practices; and
WHEREAS, Medical Practice desires to focus its energies, expertise, and time on the actual practice of medicine and on the delivery of medical services to patients, and to accomplish that goal it desires to delegate the increasingly more complex business aspects of its practice to business persons; and
WHEREAS, Medical Practice wishes to expand its business, pursue market opportunities, achieve efficiencies, provide utilization review and quality assurance, acquire additional equipment, space and personnel; and
WHEREAS, Medical Practice wishes to engage Practice Manager to assume the initial costs and risks of operating the practice, to provide the management, marketing, administrative, and business services that are necessary and appropriate for the day-to-day administration of the non-medical aspects of its medical practice, and Practice Manager desires to provide such services, all upon the terms and conditions hereinafter set forth; and
WHEREAS, Medical Practice and Practice Manager have determined a fair market value for the services to be rendered by Medical Practice; and
WHEREAS, based on this fair market value, Medical Practice and Practice Manager have developed a formula to compensate the Medical Practice and employees that will allow the parties to establish a relationship permitting each party to devote its skills and expertise to the appropriate responsibilities and functions;
NOW, THEREFORE, in consideration of the mutual terms, covenants and conditions set forth herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
The foregoing recitals are true and correct and are made an integral part of this Agreement as though fully set forth and incorporated herein.
For the purposes of this Agreement, the following terms have the following meanings, unless otherwise clearly required by the context in which the term is used.
2.1 Agreement. The term “Agreement” means this Medical Practice Management Agreement between Medical Practice and Practice Manager and any amendments that may be adopted from time to time as hereinafter provided.
2.2 Budget. The term “Budget” means an operating budget for each fiscal year as prepared by Practice Manager.
2.3 Confidential Information. The term “Confidential Information” means all of the materials, information and ideas of Practice Manager, including, without limitation: operation methods and information, accounting and financial information, marketing and pricing information and materials, internal publications and memoranda, and other matters considered confidential by Practice Manager.
2.4 Management Fee. The term “Management Fee” means Practice Manager’s monthly compensation established pursuant to this Agreement, against receivables draw.
2.5 Practice Manager. The term “Practice Manager” means Medical Practice Management, a ___________ corporation, and any successors or assigns.
2.6 Practice Manager Expense. The term “Practice Manager Expense” means an expense or cost incurred by Practice Manager and for which Practice Manager is financially liable.
2.7 Managing Physician. The term “Managing Physician” means that physician designated by Practice Manager to direct the delivery of clinical services to patients by Practice Manager.
2.8 Medical Practice. The term “Medical Practice” means Medical Associates of __________, P.C., a __________ professional services corporation, and any successors, assigns, subsidiaries or affiliates.
2.9 Medical Practice Account. The term “Medical Practice Account” means the bank account of Medical Practice.
2.10 Medical Practice Expense. The term “Medical Practice Expense” means an expense or cost that is incurred by Practice Manager or Medical Practice and for which Medical Practice is financially liable.
2.11 Medical Services. The term “Medical Services” means medical care and services, including but not limited to the practice of medicine, and all related health care services provided by Medical Practice through Medical Practice’s Managing Physician and Physician(s) that are retained by or professionally affiliated with Medical Practice.
2.12 Office. The term “Office” means any office space that Practice Manager or Medical Practice owns, leases or otherwise procures as an agent for Medical Practice for Medical Practice for the purpose of providing Medical Services.
2.13 Physician. The term “Physician” means the individually licensed professionals who are shareholders of Medical Practice, or are employed or otherwise retained by or associated with Medical Practice by contract.
2.14 Professional Personnel. The term “Professional Personnel” means any licensed personnel, other than Physician(s), whose clinical services are provided under the direction of Physician and are retained by or professionally affiliated with Medical Practice.
2.15 State. The term “State” means the State of __________.
2.16 Term. The term “Term” means the initial and any renewal periods of duration of this Agreement as described in Section 8.1 hereof.
2.17 Effective Date. The Effective Date shall be ___________________ unless mutually agreed upon by both parties.
III. Business of Medical Practice and Practice Manager.
The parties stipulate that the business of the Medical Practice and Practice Manager are those Medical Services, and Practice Manager services in support of Medical Service (i) where both the “facility” and “professional” components of the Medical Services have historically been provided in the Medical Practice’s private practice offices and reimbursed on a “global basis,” and (ii) where the “professional” component of the service has historically been provided in a hospital inpatient or outpatient facility, nursing home, ambulatory surgery facility or some other licensed or certified “facility” eligible for separate reimbursement for the “facility” component of such service and where the “professional” and “facility” components of the service are billed separately by different legal entities.
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