Priority Legal Investment:
- Hire a high-end, experienced lawyer.
- Invest in lawyers who specialize in legal and regulatory aspects of scaling a medical business.
- Ensure the lawyer is licensed in or has experience in the states where you plan to build or expand your clinic.
Collaborate with Reputable Legal Firms:- Work with established legal teams, such as Dikema and Bird Adju, who have a strong track record in the medical field.
- Utilize their expertise to organize your company and prepare it for scaling.
Avoid Self-Lawyering:- Avoid the mistake of handling legal matters on your own, such as paperwork and setups.
- Ensure that you have a solid legal team to handle these tasks from the start.
Stem Cell Therapy Caution:- Understand the legal risks associated with stem cell therapies, especially allogeneic and autologous stem cells.
- Be aware that the FDA is opposed to expanding stem cells, making it risky to offer these treatments in the U.S.
- Avoid offering treatments that could jeopardize your business's scalability or make it less attractive to potential investors.
Steer Clear of Experimental Medications:- Avoid using or purchasing experimental medications, injectables, or machinery from unverified sources.
- Emphasize the importance of using only FDA-cleared products to maintain the safety and reputation of your clinic.
Legal Representation in Hiring and Firing:- Ensure you have a contract lawyer to assist with employment matters.
- Maintain a litigation lawyer for any potential legal disputes with clients.
- As you grow, consult a mergers and acquisitions lawyer to guide you through the sales process.
Zero Tolerance for Legal Threats:- Implement a strict policy where any client threatening legal action is immediately referred to your legal team.
- Train staff to handle such situations by providing legal contact information and ensuring the safety of your team.
Handling Medical Board Complaints:- If reported to the Medical Board, immediately hire a lawyer experienced with the board's processes.
- Do not attempt to represent yourself; rely on your lawyer to navigate the investigation.
Advice from an Industry Leader:- Value the importance of having top-tier legal representation.
- Be proactive in seeking legal advice and do not hesitate to use your lawyer when needed.
- Understand that strong legal representation can protect your business, staff, and clientele from potential legal issues.
Final Thoughts:- Always prioritize having great legal representation.
- Pay your lawyers well and use their expertise to ensure your business remains compliant and protected.
- Regular communication with your legal team is crucial to avoiding legal pitfalls.
