why cant docs form corporations?

[incudoc]

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how come MDs cant or dont form corporations....wouldnt this limit their liabilities in malpractice claims? if their practice was a corporation then their liabilities would be limited to whatever money or property was part of their corporation....

any thoughts or insight?

 

[idq1i]

any thoughts or insight?

Ever heard of P.C. (professional corp)?
LLC (limited liability corp)?
LLP (limited liability partnerships) ?

 

[USCTex]

Most practices are corporations.

There are some notable and important exceptions to the limitations most forms of incorporation place on your personal liability. You can be held personally accountable if you (from FindLaw.com):

• Personally injure someone
• personally guarantee a bank loan on which the corporation defaults
• fail to deposit taxes withheld from employees' wages
• treat the corporation as an extension of your personal affairs, rather than as a separate legal entity

 

[Law2Doc]

Most practices are corporations.

There are some notable and important exceptions to the limitations most forms of incorporation place on your personal liability. You can be held personally accountable if you (from FindLaw.com):

• Personally injure someone
• personally guarantee a bank loan on which the corporation defaults
• fail to deposit taxes withheld from employees' wages
• treat the corporation as an extension of your personal affairs, rather than as a separate legal entity

Exactly. Most private practice doctors in fact do work through some form of professional corporation or partnership. However if someone is injured by negligence or recklessness due to the actions of a specific individual employee (doctor), they will sue the negligent party, and his employer (corporation). Thus in the case of medmal, BOTH the doctor and the corporation will get sued. So that's not going to be any advantage in terms of medmal litigation for that particular doctor. But it will protect other doctors in the practice.

 

[incudoc]

interesting...i wasnt sure exactly how that worked. thanks.