Owning your own dental practice may be your dream, and while you love what you do clinically, you also have to have a business mindset. Running a dental practice is both about providing superior and quality dental services to patients as well as ensuring business operations run smoothly. To accomplish the latter, risk mitigation strategies should be employed so that if issues arise, interruptions don’t stop the practice from continuing to be able to function. Additionally, such strategies can also help practices avoid costly legal troubles that could shutter their business and make it difficult to keep the doors open and/or tarnish a dentist’s good professional reputation.
If you are running a dental business in California or if you are considering opening up a practice, then speaking to a business attorney can be advantageous. Reducing risk exposure is critical, and an attorney can advise you on what measures can safeguard you and your practice.
The Los Angeles business attorneys at Leiva Law Firm welcome you to schedule a free consultation to discuss your business and professional needs.
Risk Management Strategies for Dental Practices
It is imperative to protect yourself and your business against any of the several ways that things can go wrong. Preparing for adverse situations and the unexpected arms you with the ability to confront issues and resolve them in the most ideal way. Additionally, having the right policies, procedures, and safeguards in place at the onset of opening a practice could help prevent problems from occurring in the first place.
Insurance
There are several types of insurance that could benefit your business. An attorney can review your particular situation and advise you on what policies could apply to you and what they do. Some insurance policies that may benefit your dental practice could include:
- Professional Liability
- Umbrella Liability
- Property and Casualty Insurance
- Employment Practices Liability
- Cyber Security Insurance
- Business Overhead Insurance
- Partnership and Buy-Sell Coverage
Over time, your business may grow and change, which also means your insurance needs may also need to be updated. This is why it is critical to review your insurance coverage and make adjustments where necessary regularly. Even if your business stays fairly consistent a re-examination of your insurance could, in some cases, reveal opportunities to consolidate your coverage and save money or obtain better terms for deductibles.
Employee Handbooks
Employee handbooks can cover policies and procedures for appropriate conduct, how to handle disputes, anti-discrimination, repercussions for violations of the terms of employment, and more.
Patient Consent Forms
All medical settings, including dental practices, require decisions to be made to provide patients with the medical care they need. Medical providers must advise patients on their recommendations and allow patients to evaluate their opinions and determine if they will agree to the treatment, decline it, or use it as a basis to get a second opinion. This is what informed consent is, and unless it is an emergency where a patient can’t make their own decision, a patient consent form is a legal safeguard that can confirm that informed consent took place.
Office Policies
Conducting business by the book can be accomplished with comprehensive office policies for everyone to follow.
Speak to an Attorney at Leiva Law Firm Today
Please call the Leiva Law Firm at (818) 519-4465 today to schedule a free consultation with an experienced Los Angeles business litigation lawyer and learn more about risk reduction strategies.
