Medicare and PA owned practice question

[AERogers 10]

I am in the process of starting my own practice (a PLLC) in NC. Per the NC Medical Board, a PA can own 100% of a practice. Per the AAPA, it's 99%, with each state's rules taken into consideration. I have structured a contract with my supervising MD for 97/3 ownership, but I am having issues now with credentialing for Medicare. The company I've contracted with is telling me I can't own that much of the practice. 

Can someone provide some insight? If I'm investing 100% financially and will be the only on-site provider, I don't want to hand over 50+% of my business to someone else. There must be a way to get this to work.

Thanks,

Anita Rogers

[ventana 3,306]

you need a new billing company, they stink and are dead wrong (and it is not AAPA making decisions it is CMS - and that only applies if you are billing medicare)

 

I had a practice (still around on paper)

I owned 99%

doc owned 1%

medicare guidelines says PA can own 99%

State laws sometimes have rules about it, but you have already researched that side

 

tell you billing co to figure it out, or get a new company

 

[mccabe11 0]

I'm  purchasing  a clinic from a former supervising physician.   In Colorado, an MD/DO has to own 51% of the company.  MD  will be "silent partner" (no voting rights) and I  will pay him a % of the net billing (3% currently).  If you can find a good medical attorney,  they should know the ins and outs of the state requirements.

I am essentially purchasing  a list of patients  and goodwiill, as the doc will be keep the name, 400 patients, and all his tangible assets.  I plan to purchase used exam tables and pay other providers in the building initially to use their EKG/PFT machines. Hope to share with  some meds that I don't go through quickly.

Any insight on other dos/don'ts??  I'm most worried about hiring a good MA and front person. I hope to tap into former MAs of mine but not sure they will make the jump.

Edited February 14 by mccabe11
adding information