Physician Asset Protection

Written by Joe Chamberlain
Bookmark and Share

Success, for men of a certain age, used to be defined by profession. Doctors, in particular, enjoyed a certain amount of wealth and status in the community. In the Norman Rockwell days of yore, the physician was revered and respected for his education and wisdom. Thoughts of suing the family doctor for malpractice were few and far between.

In modern times, sadly, the respect for physicians has dwindled. Like the proverbial bad apples, the few medical professionals who abuse their responsibility have tainted the profession for the vast majority of good doctors. Malpractice insurance has skyrocketed in the past few years causing physicians, in many cases, to raise their own fees simply to cover costs.

Asset Protection--Tips for Physicians

Business asset protection may be a wonderful solution for many doctors in this lawsuit-crazed society. By protecting her assets, a doctor can potentially lower her level of malpractice insurance knowing that if a bogus lawsuit occurs, she will not be forced to declare bankruptcy. Perhaps this is the beginning of a solution for rising medical costs and doctor fees.

Asset protection is especially important for those doctors who have families to support. Bankruptcy can be devastating, so it is a wise idea to insure against it. Just as you insure against fire or flood, if you work in a high-risk environment it may be time to look into protecting your assets.

Bookmark and Share