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Should physicians and other high net worth, high income professionals forge a long term relationship with an attorney?

The answer to that question depends to a great deal on the doctor answering the question; their immediate and long term needs for legal services; their competence in managing their own legal affairs and their desire to do so.

The answer to that question depends to a great deal on the doctor answering the question; their immediate and long term needs for legal services; their competence in managing their own legal affairs and their desire to do so.

Young Physicians, Residents and Fellows

At one end of the spectrum we find young physicians who have recently completed their residency or fellowship.  They are preparing to sign a lucrative multi-year employment contract but they have no experience in reviewing such a document.  They have left their training as excellent clinicians and well trained diagnosticians but their legal acumen is dangerously low.  And even those who are willing to seek legal advice have little idea where to find an attorney who has experience with the unique issues such as restrictive covenants, partnership agreements, sign on bonuses, education loan repayment options, etc.  And often these healthcare professionals in the greatest need of competent advice are the least likely to have access to a healthcare attorney.  MD Preferred Services goes to great lengths to find healthcare attorneys who enthusiastically accept young physicians as clients; understand their special needs; and are qualified to work and grow with a doctor as his career unfolds.  The preferred lawyers in our national database all accept newly minted physicians.

Practicing Physicians

A surprisingly large number of established physicians, who should know better, continue to manage their own legal affairs.  These MD’s should ask themselves several telling questions.

  • How’s it going?  Would you objectively describe yourself as a sophisticated student of healthcare laws and government regulations on a par with your competence in your chosen medical specialty?
  • Are you complying with all of the new government rules and regulations associated with healthcare reform?
  • Do you enjoy managing your own legal affairs?  Are you comfortable with the time you spend?
  • Do you accept advice from nonprofessionals, family, friends and colleagues when faced with challenging legal issues?

For a successful practicing physician, access to an attorney database populated with pre-screened lawyers specializing in healthcare law offering preferred legal services can dramatically reduce the due diligence process.  Many physicians prefer a fee for service only attorney client relationship.  Others may choose to have a healthcare attorney on retainer.  And a sophisticated attorney can provide advice in other areas such as student loan obligations, risk management, practice management and structure, tax planning, succession management and key man insurance.

Even after retirement there are going to be needs for complete estate and tax planning, home purchase documentation, charitable giving and trust structuring and management.  A lifetime relationship with a trusted legal advisor begins early in one’s career and matures over time.  Access to preferred legal services is the goal of the MD Preferred program.

In every case, MD Preferred Services is committed to helping doctors and other medical professionals find preferred legal professionals offering a broad range of specialized services for doctors.  Our indexed attorney database is easy to use and is completely confidential in that any contact with a listed lawyer will be initiated by the physician.  An MD attorney is the right prescription for physicians planning a secure future for themselves and their family.