Once a business structure choice has been made, the next steps are forming the entity, and, where required, obtaining licensure and an employer identification number.
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Do you know that Illinois has a law on the books that requires employers of five or more employees to provide breaks to nursing mothers to express milk?
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“Restrictive covenants” are frequently found in all types of employment agreements, including associate physician contracts.
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As the owner of a medical corporation, professional service corporation or limited liability company you must file forms to keep your entity & registration.
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Licensing exams for all categories of physician consist of 4 parts, and applicants are permitted to re-take portions that are not passed. However, applicants in Illinois are “allowed” only 4 failures of any portion of the exam, after which they must complete additional study before they may re-take the exam. For chiropractic physicians, the course of study must consist of 960 classroom hours (one academic year) in an accredited chiropractic program or any other equivalent formal professional study or training in an accredited chiropractic program as approved by the IDFPR.
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An important part of the application is Part VI, or “Personal History Information.” This form consists of six questions requesting information regarding any history of: guilty pleas to criminal offenses and convictions of felonies; denial of professional license by any licensing authority; other-than-honorable discharge from armed services; and whether the applicant has a disease that limits his or her ability to perform the essential functions of the chiropractic profession, including physical and mental conditions and substance abuse.
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Collections are a critical part of running a physician practice. The shift toward patient responsibility for higher co-payments and deductibles under today’s health plans has driven the need for physician offices to shore up collection methods. Whether a practice is insurance or cash-based, patient payments are making up an increasing share of revenue. Every business needs to make money to survive, but physicians must balance the need for profit with the responsibility to provide quality patient care. In addition, laws regarding ethics, licensing, and patient privacy are layered into the regulatory tapestry that governs physician collections.
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Did you know that a medical corporation, professional service corporation or limited liability company needs its own license to operate legally in Illinois? This means that owners of these entities must not only form the corporation through the Secretary of State, but they must also file for and obtain a professional license from the Illinois Department of Financial and Professional Regulation (IDFPR), even though all of the owners and practitioners possess individual licenses.
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