You are a recent medical school graduate from a small, rural town and you are going to return to your hometown in order to open your own private practice.

Suppose that you are a recent medical school graduate from a small, rural town and you are going to return to your hometown in order to open your own private practice. Discuss the steps you will need to take in order to start your practice. For example, (i) what type of legal entity will select for your practice and why; (ii) what area(s) of practice will you undertake and why; (iii) what regulatory conditions and requirements will you have to face and comply with in order to open and operate your practice and what is their purpose?

Quick Response

The first step to consider in order to start the practices includes a limited liability company. This is meant to prevent the business from being personally liable in case the company is sued. The legal aspect also helps in protecting privacy while staying compliant(Shepherdson, Hioe, & Boxall, 2018). The other consideration includes registering for taxes as a way of complying with the state’s policies. The new business entity will consider labor and employment issues. This will help to reduce any forms of discrimination, which could lead to lawsuits. The business will also ensure that it does not lead to patients’ discrimination. The business will adhere to the existing agreements to help achieve and maintain the stability of the healthcare institution…

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