Physicians in general have only a vague understanding of the statuTes and regulations that govern the health industry and their effect on the health care economy.
Medical students graduate with virtually no knowledge of the economics and dynamics of the industry in which they are about to embark for a long career, and, once in practice, there are few opportunities for physicians to receive training in the legal principles that govern the health industry. After teaching physicians in the Auburn University Physicians Executive MBA Program for over a decade, Mr. Baker has not yet taught one student who had a clear understanding of the federal Ethics in Patient Referrals Act (commonly referred to as the “Stark Law”), the federal Anti-Kickback Statute, the Physician Payments Sunshine Act, and in general how these and other laws impact health care business transactions. Also, physicians generally reveal a deficiency in understanding how legal principles such as antitrust law impact the health care economy.
Coronat services can provide full or half day presentations to medical school students, medical staffs, graduating residents, or other medical groups using The Legal aspects of health care business transactions book as foundation to introduce physicians to health care economics and the statutes and regulations that govern the health industry.
While adding a full course to a medical school curriculum is likely impossible, conducting, for example, a Saturday seminar presentation to graduating medical school students or residents is an effective way to introduce physicians to fundamental legal and economic principles. Medical staffs can also benefit by the same knowledge, especially the 40% of all physicians who remain in the private practice of medicine. Topics can include some or all of the following: Overview of the Health Care Economy and the Statutes and Regulations that Govern the Health Industry; Contracts 101; Employment and Independent Contractor Agreements; Equity and Debt Financing; Mergers and Acquisitions; Antitrust Law; the Law Governing Pharmaceuticals and Medical Devices; and Corporate Compliance and Ethics Plans.
Also, each attendee can receive a copy of the latest edition of the The Legal Aspects of Health Care Business Transactions for reinforcement of the educational materials.