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Orthopedic Practice Governance and Structure
Orthopedic Practice Governance and Structure Job A ...
Orthopedic Practice Governance and Structure Job Aid
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Pdf Summary
Practice Management 101 is a comprehensive guide provided by aaoe.net for orthopedic executives and their staff. The document highlights the importance of governance and structure within an organization, emphasizing the use of EBITDA to assign value and defining the roles and responsibilities of shareholders. It underscores the significance of legal documents such as shareholder agreements, corporate bylaws, and employment agreements to establish clarity and avoid misunderstandings. The role of senior employment agreements and shareholder track employment agreements for physician shareholders is also discussed. Furthermore, the document stresses the necessity of maintaining malpractice insurance for both physicians and the practice, as well as the importance of clear communication and trust to avoid issues in the workplace. It emphasizes the need for all parties to understand who owns the practice, who makes decisions, and who they report to. Additionally, it provides insights into common challenges faced in physician practices, such as high turnover rates and lack of clarity in decision-making processes. Overall, the document serves as a valuable resource for improving the management and operations of orthopedic practices by emphasizing the importance of organizational structure, legal agreements, and effective communication.
Keywords
Practice Management 101
Orthopedic executives
Governance and structure
EBITDA
Shareholder agreements
Corporate bylaws
Employment agreements
Malpractice insurance
Communication and trust
Decision-making processes
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