TY - JOUR
T1 - Business entity selection
T2 - Why it matters to healthcare practitioners: Part I-conceptual framework, sole proprietorships, and partnerships
AU - Nithman, Robert W.
N1 - Publisher Copyright:
Copyright © 2015 by Greenbranch Publishing LLC.
PY - 2015/3/1
Y1 - 2015/3/1
N2 - The Bureau of Labor statistics indicates only a 50% four-year survivability rate among businesses classified as "education and health services." Gaining knowledge of IRS business entities can result in cost savings, operational efficiency, reduced liability, and enhanced sustainability. Each entity has unique disadvantages, depending on size, diversity of ownership, desire to expand, and profitability. Business structures should be compatible with the organizational mission or vision statement, services and products, and professional codes of ethics. Healthcare reform will require greater business acumen. We have an ethical duty to disseminate and acquire the knowledge to properly establish and manage healthcare practices to ensure sustainable services that protect and serve the community.
AB - The Bureau of Labor statistics indicates only a 50% four-year survivability rate among businesses classified as "education and health services." Gaining knowledge of IRS business entities can result in cost savings, operational efficiency, reduced liability, and enhanced sustainability. Each entity has unique disadvantages, depending on size, diversity of ownership, desire to expand, and profitability. Business structures should be compatible with the organizational mission or vision statement, services and products, and professional codes of ethics. Healthcare reform will require greater business acumen. We have an ethical duty to disseminate and acquire the knowledge to properly establish and manage healthcare practices to ensure sustainable services that protect and serve the community.
KW - Business entities
KW - Business ethics
KW - Corporations
KW - IRS
KW - Liability protection
KW - Limited liability companies
KW - Partnerships
KW - Practice and risk management
KW - Professional entities
KW - Sole proprietorships
KW - Taxation
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M3 - Article
C2 - 26062336
AN - SCOPUS:84936748455
SN - 8755-0229
VL - 30
SP - 358
EP - 361
JO - Journal of Medical Practice Management
JF - Journal of Medical Practice Management
IS - 5
ER -