Craig Toberman Featured in Medical Economics: 5 Risk Mitigation Strategies for Physician Practice Owners
In a recent article for Medical Economics titled “5 Risk Mitigation Strategies for Physician Practice Owners”, Craig Toberman, CFA, CPA, CFP®, Partner at Toberman Becker Wealth in St. Louis, discusses essential risk mitigation strategies for physician practice owners. He emphasizes that while private practice ownership offers rewards such as higher earning potential and professional autonomy, it also presents unique challenges that require careful management.
Craig outlines five key strategies to safeguard the benefits of private practice:
- Professional Liability Coverage: Ensuring adequate malpractice insurance to protect against potential lawsuits.
- Financial Management: Implementing robust financial controls to maintain the practice’s fiscal health.
- Regulatory Compliance: Staying abreast of healthcare regulations to avoid legal pitfalls.
- Succession Planning: Preparing for future transitions to maintain continuity.
- Cybersecurity Measures: Protecting patient data from breaches and ensuring data integrity.
By adopting these strategies, physician practice owners can enhance the stability and prosperity of their practices.
Book a call with our team to learn more about safeguarding your practice.
About Toberman Becker Wealth
Toberman Becker Wealth is a fee-only financial advisory firm based in St. Louis, Missouri, specializing in comprehensive financial planning for families and businesses.
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Craig Toberman is a Partner at Toberman Becker Wealth – a fee-only, fiduciary financial advisor based in St. Louis. He assists families and businesses with strategic financial planning and long-term wealth management. He has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses.