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Protecting What Matters

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Young Physicians Shouldn’t Leave Their Careers to Chance

21 January 2016

Insurance. If you’re a Millennial, the word probably evokes yawns and shrugs. But insurance is needed for many reasons in our lives. We purchase travel policies when we book a vacation. We insure our cars. But what happens when that car gets smashed by another car, sending you sideways into the landscape? Or the plane falls out of the sky? Or you get sick.

These are dramatic images, but they can happen. To anyone. At any age.

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Texas Physicians: Must-Knows for Funding Your Buy-Sell Agreement

18 January 2016

A stake in a business partnership is an amazing asset, but one that comes with responsibilities. What if you or a partner suddenly can’t work due to a disability? It usually makes sense for all parties to have an insurance-funded buy-sell agreement.

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What Your Medical Practice Employees Are Expecting in a Benefits Plan

15 December 2015

Many factors are involved in getting good employees to fill the seats at a medical practice, but job candidates consistently rank group benefits as one of the top factors impacting their decision to accept a job offer. Benefits packages matter; a robust package can make their lives much easier, while a barebones offering forces them to bear most of the monetary or administrative costs themselves.

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How to Hire & Retain the Right Staff to Take Your Medical Practice to the Next Level

15 June 2015

One of the biggest issues facing medical practices today is employee retention. In fact, turnover can be quite costly. According to a recent report from Health Care Management Review, a high turnover rate can cost your practice as much as 5% of your annual revenue. For a small- to medium-size clinic, that kind of cut in revenue can spell lasting disaster.

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Do You Have This Critical Insurance Plan for Your Medical Practice?

25 April 2015

When you own a successful medical practice there are many people that have helped you grow it. Your amazing team, the ones your practice couldn’t survive without, have had a hand it your success.

According to the National Association of Insurance Commissioners, small businesses are extremely dependent on just a few key people for their success, and 71% say that they are “very dependent” on only one or two key people.

That’s why you should consider purchasing key person life and key person disability insurance for your practice.

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HSA, HRA, FSA: How Do They Benefit Your Medical Practice?

22 April 2015

Healthcare is one of the most expensive benefits you can offer employees. As a medical practice, employees often assume they will receive healthcare benefits.

However, health care comes at a cost. According to Kaiser Family Foundation survey, the average annual cost of a single premium per enrolled employee for employer-based health insurance in Texas is a total of $5,386, with an employer contribution of $4,251.

That’s a pretty sizable amount of money to be spending towards health insurance alone. So how can you spend less on health insurance, but still have quality coverage? By leveraging the benefits of HSA, HRA and FSA.

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How Business Overhead Insurance Can Save Your Medical Practice

17 April 2015

Have you ever asked yourself, “Can my business survive if I’m not there”? Most physicians would say no since their practice relies on them so much. Whether you are just starting your own practice, or you are growing an existing one, it’s important that it keeps running smoothly even if something should happen to you.

Like most physicians who own a small  or midsize practice, you are the key player in keeping your practice profitable, and if you’re not there to see patients, your practice will quickly fail. Well, that’s what Office Overhead Expense Insurance is there for – a way to keep your business functioning even when you can’t be there.

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Helpful Tips for Choosing a Group Health Plan for Your Medical Practice

19 February 2015

As a Texas physician, owning a medical practice not only offers the opportunity to help heal patients, but it also gives you a chance to run your own business. While owning a practice is both exciting and rewarding, it does come with a related set of challenges such as operating expenses. One of the greatest operating expenses your practice will endure is providing group insurance and/or health benefits for your employees.

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