Can you own a practice in an area of medicine you don't practice in?

[UGAChemDawg]

My father is an allergist

I have no desire to go into allergy and would like to go into a surgical specialty.

Nevertheless, if the old man retires about the time I'm finished with my residency, is there any way I could take over the practice? I would not work there, obviously, I'd just treat it as the allergy and asthma branch of the group of clinics I plan to start and higher physicians to work there on a contract basis.

What types of arrangements can be made in a situation like that?

[McGillGrad]

Of course you can. Your role (i.e. position) will change from physician to business owner in respect to that clinic but with the added medical training, you will be in an advantageous position.

You would have to create some sort of corporation to shelter the clinic and have someone to take care of administrative duties (if you so desire) and negotiate contracts and profit structure but it would not be too complicated.

[UGAChemDawg]

Of course you can. Your role (i.e. position) will change from physician to business owner in respect to that clinic but with the added medical training, you will be in an advantageous position.

You would have to create some sort of corporation to shelter the clinic and have someone to take care of administrative duties (if you so desire) and negotiate contracts and profit structure but it would not be too complicated.

Cool. I just know that there is a law in Georgia that non-physicians can't own medical practices (ie if he died my mom wouldn't get it), so I was wondering if there is also a stipulation that you had to be the same type of doctor. I just think it would be nice to keep it in the family.

[McGillGrad]

Cool. I just know that there is a law in Georgia that non-physicians can't own medical practices (ie if he died my mom wouldn't get it), so I was wondering if there is also a stipulation that you had to be the same type of doctor. I just think it would be nice to keep it in the family.

You would have to consult a corporate law attorney but I would imagine that they mean that you simply are a recognized MD. It would seem overly litigious to stipulate the type of specialty, especially seeing how powerful the AMA lobby is in the states:)

[IMG2006]

Cool. I just know that there is a law in Georgia that non-physicians can't own medical practices (ie if he died my mom wouldn't get it), so I was wondering if there is also a stipulation that you had to be the same type of doctor. I just think it would be nice to keep it in the family.

You'll be fine. If you read a medical license from GA, it says medicine and surgery on it. Legally speaking, any MD can do almost anything... it's just that no hospital or insurance agency will let a pediatrician do a CABG (for instance). If you were an allergist doing surg, you'd probably get some calls from the medical board as well... The reverse... probably not a problem. You'd be just fine until you made your first mistake from a legal stand point. Back 50's-60's and even 70's it was pretty common for people to only do an intern year and then practice whatever they wanted. My grandfather did that and did everything from general surg, ortho, peds, obgyn, to you name it. He retired (and died) in 1992. There are still a lot of people out there now who never completed a residency working up a storm. They've been around a long time though, and no one is going to stop them.

Like McGill said, just hire an allergist and make yourself CEO. This actually sounds like a cash cow for you. Best of luck.

[thgunner57]

restrictive covenant so he doesn't set up shop right next door. And steal his own patients away. Why not hire a nurse practioner and have run it with your over sight.

[teratos]

Would be easy. Just consult a corporate lawyer for the contract. He/she/it would make sure it comes with the requisite non-compete clause etc. G