Congress passed the Corporate Transparency Act (the “CTA”) in 2021 with the aim of enhancing transparency in entity structures and ownership as well as combating terrorism, money laundering, and other forms of corporate misconduct. This sweeping new rule is designed to cast a wide net over entities that, except in the case of taxes, do not regularly report to federal agencies (i.e., non-publicly traded entities), regardless of the degree to which they are already regulated at the state level. This post specifically speaks to medical groups and management services organizations (“MSOs”) that now need to navigate the new CTA requirements and account for their complex contractual relationships (e.g., management services agreements, equity restriction or succession agreements). For additional information on a particular topic, links to helpful resources have been provided in the footnotes.Continue Reading The Corporate Transparency Act: A Reporting Guide for Medical Groups and MSOs
A bill that would permit rural hospitals to directly employ physicians has been approved by the California State Assembly. Assembly Bill 2024, authored by Jim Wood (D-Healdsburg), will be considered next by the Senate Health Committee. The bill would waive the state’s ban on the corporate practice of medicine for 28 rural health clinics and critical access hospitals allowing them more freedom to hire doctors. The bill is a response to the difficulties rural areas have had attracting and retaining medical providers.
Continue Reading California State Assembly Approves Bill on Rural Hospital Physician Employment