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The Importance of Medical Practices Keeping Corporate Documents Current

A new year is a great time to take stock of your corporate documents and determine what actions you may need to take in the new year. Because the healthcare industry is in a state of constant flux due to legal and regulatory changes, increasing overhead expenses and shift into non-fee-for-service reimbursement, medical practices face a number of challenges to remain viable and competitive. As a result, it is more important than ever for medical practices to periodically review and update their corporate documents (e.g., buy-sell agreements, deferred compensation agreements, employment agreements, etc.) to ensure the concepts set forth therein keep pace with the rapidly changing healthcare environment. Otherwise, you may find that your corporate documents no longer provide you with the protection and outcome you desire. Therefore, medical practices are well advised to make a nominal investment to update their corporate documents on a regular basis in order to avoid costly negotiations and litigation to resolve future disputes. Contact Frier Levitt today to speak to an attorney.