PART 4 OF 4: Choosing the Right Model

A framework for selecting and evolving your ownership model.

With the models understood, the task is choosing the one that fits a provider's goals and circumstances, and recognizing when it is time to change. The right model is personal, depending on what a provider wants from their career and their practice. This part offers a framework for the choice.

Clarify your priorities

The choice starts with honest priorities. A provider who values autonomy above all else may want to run solo; one who wants to share burdens and build something larger may prefer a group; one who wants to focus on medicine without business responsibility may choose employment or a management-supported model. There is no universally best model, only the one that fits.

Weigh the practical factors

Against those priorities, weigh the concrete considerations:

• Desired control over both clinical and business decisions.
• Income goals and tolerance for financial risk.
• Willingness to take on management responsibility.
• Access to the capital a given model requires.
• Long-term plans, including growth and eventual transition.

Confirm what the law allows

A preferred model must be permissible for the provider's situation. California's ownership rules determine which structures are available, particularly where outside capital or multiple professions are involved. Confirming feasibility early will prevent vainly pursuing a lawfully unbuildable model.

Build in flexibility

Because models often change over a career, building flexibility into a practice's structure and agreements eases future transitions. A structure that will easily accommodate a new partner, an outside investment, or a succession plan without being torn down serves providers better than one locked to a single moment.

Revisit as circumstances change

The right model is not a permanent decision! Growth or new goals, changing regulations, or just different life stages can all call for reassessment. Periodically revisiting the ownership model, rather than assuming the original choice still fits, keeps the practice aligned with where the provider is heading.

How West Coast Health Law Can Help

We help California providers choose and evolve the ownership model that fits their goals, and build the structures and agreements each model requires. If you are deciding how to own or join a practice, we can help you choose well.

West Coast Health Law offers a FREE consultation which you may schedule by clicking the button on our website.

This article is provided for general informational purposes only and does not constitute legal advice or create an attorney-client relationship. Laws change and every practice is different; consult a qualified attorney about your specific circumstances.