Legal 123s with ByrdAdatto

In this episode, we navigate the nuanced landscape of the corporate practice of medicine (CPOM). Join us as we delve into the implications of running a medical spa in a CPOM state and the implications on both physician and non-physician ownership. We discuss common misconceptions surrounding CPOM, the states with higher risks, and a common solution to CPOM - the management services organization (M...

Non-Compete Agreements and clauses are common in Physician Employment Agreements. However, the landscape might be changing due to the recent proposal by the Federal Trade Commission (FTC) to ban all non-compete agreements. In this episode, series regular Jay Reyero joins us as we explore the current state of non-compete agreements. We discuss the implications of the FTC's proposal, especially as i...

In this episode, hosts Michael Byrd and Brad Adatto share the story of entrepreneurs who open an IV Therapy Bar in Alabama and the legal challenges they faced after receiving a Cease and Desist from the state’s Board of Medical Examiners. Tune in as we share the intricacies of operating a compliant IV bar and the rules and regulations that impact compliance. We discuss the limitations of standing...

Online reviews have the power to shape and impact the reputation of a business. In this episode, ByrdAdatto Partner Jeff Segal, MD, JD joins us to share how health care practices can address negative patient reviews without violating patient privacy. We discuss HIPAA, risks associated with sending a Cease and Desist, and alternative approaches to de-escalate these situations. Tune in to learn how...

This season's theme is Fake or Real, and in each episode we will decipher common legal urban legends. In this episode, we share ChatGPT's attempt to generate a Physician Employment Agreement. ChatGPT and artificial intelligence in general have made a big impact, revolutionizing the way tasks are automated and information is processed. However, there are limitations when relying solely on artificia...

In this episode, host Michael Byrd and Brad Adatto reflect on Season 12 of the Legal 123 with ByrdAdatto podcast. The theme for this season was "The Hitchhiker's Guide to M&A," and we were joined by clients and industry leaders who shared their experiences with M&A deals. In the latter part of the episode, we provide a sneak peek of what's to come in Season 13, which will kick off on July...

In the final episode of Season 12, we revisit a timeless episode featuring guest and long-time client Nicole Chiaramonte. Nicole made her first appearance on our show back in Season 4. Tune in for Nicole’s invaluable insights as a highly accomplished entrepreneur and prominent figure in the med spa industry. We discuss knowing the right time to seek help when embarking on a new business venture or...

In this episode, guests Jessica Nunn and Christin Trujillo of Maven Financial Partners discuss the different ways business owners can not only get their finances in order, but also understand what they mean. They share the important measurements businesses should focus on during each season of their business: building, operating, scaling and selling. Tune in as we highlight the importance of havin...

Hosts Michael and Brad share the story of a plastic surgeon who was ready to close his practice and retire, only to be approached by a private equity (PE) firm with an intriguing offer. Tune in as we dive into the negotiation side of M&A transactions. We discuss purchase price, employee retention, and the expectations PE firms have when acquiring a practice. You can read the Wall Street Journa...

In this episode of the Legal 123s with ByrdAdatto, we are joined by Daniel Schacter, CEO, and Sean Walsh, VP of Partnerships of Cosmetic Physician Partners (CPP). CPP, an alternative to private equity, is building a network of physician-led medical aesthetic clinics in the US. Daniel and Sean provide insights into the M&A process from the buyer's perspective, including challenges that slow dow...

In this episode, we share the story of a physician who, only 10 months away from becoming a partner, learned the medical practice was being sold to a private equity (PE) firm. Although the physician was a top performer, he was not a partner yet thus missing out on the financial benefits associated with the sale. Additionally, the physician found themselves in the dark about crucial details about t...

In this episode, hosts Michael and Brad welcome Alex Thiersch, founder of the American Med Spa Association (AmSpa) and Partner at ByrdAdatto. Join us as we explore the world of med spas, discuss the future of the industry and the impact of private equity. Alex shares his advice for med spa owners considering selling their business. Tune in for Alex’s unique insights on the state of the industry. V...

In this episode, we share the story of a senior physician looking to sell his practice using a common exit strategy, “The Sensei Plan.” With this plan in mind, the physician hired a younger physician and dedicated three years to mentoring and training. Years later, what was supposed to be a seamless transition became a series of complex negotiations. Tune in as we explore the role your exit strate...

We talk a lot about the five phases of an M&A deal: the letter of intent (LOI), due diligence, the definitive agreements, closing, and post-closing. Each of these phases makes up the M&A process, and each serves a very important purpose. In this episode, we share what can happen when you stray away from this process and how to avoid these mistakes. Visit our website www.byrdadatto.com to l...

In this episode, we are joined by Mike White, a CPA with extensive experience in dental M&A deals. Mike shares his insights on the dental side of M&A, including the metrics used by dental support organizations (DSOs) to value a practice. Tune in as we highlight how the dental and health care markets evolved over time and how DSOs and management services organizations (MSOs) have contribute...

Board Certified Plastic Surgeon Rachel Walker, MD shares her experience with purchasing a medical practice, covering everything from finding a business broker and securing financing to navigating health care regulations. Tune in for the intricacies involved in purchasing a medical practice, tips for entrepreneurial success in the health care industry, and legal considerations for different types o...

In this episode, M&A advisor Ben Hernandez discusses the various phases business owners typically go through when getting ready to sell their business and seek out potential buyers. Ben emphasizes the importance of a Quality of Earnings (QOE) analysis during the due diligence phase, as it provides valuable insights into the company's financial performance and helps to identify any potential ri...

In this episode, we share the story of a med spa that was approached by a large private equity firm interested in purchasing the business. Tune in as Michael, Brad and series regular Jay Reyero breakdown the initial step of an M&A deal – the due diligence phase. We share what you should consider when identifying your risk tolerance, and how operating a compliant business can make or break a de...

We kick off Season 12 of the Legal 123s with ByrdAdatto with a live recording and guest Robin Pou! Robin is an executive coach, and he joins Michael and Brad to highlight the importance of strong leadership in successfully scaling and selling a business. Tune in for Robin’s leadership tools. As an established thought leader on modern management, leadership trends and career development, Robin’s in...

In this episode, hosts Michael Byrd and Brad Adatto reflect on a fun season full of “Hard Conversations”. Tune in as we share key takeaways from Season 11 and announce what is to come in Season 12 of the Legal 123s with ByrdAdatto Podcast starting April 5th. You will not want to miss it! As always, watch and listen to new episodes of the Legal 123s with ByrdAdatto Podcast every Wednesday! You can...

This season’s theme is Hard Conversations, and in this final episode, Michael and Brad share their own hard conversation with a physician client involved in a tax evasion scheme. Tune in for Brad’s “main character” moment, the impact of differences in communication, risk tolerance, and health care compliance. Visit our website www.byrdadatto.com to learn more and to subscribe to the ByrdAdatto new...

In this episode, Michael and Brad are joined by Sarah Allen, MD, and Claire O'Bryan, ANP-C, co-founders of The Skin Clique . Sarah and Claire share how they leveraged compliance to scale their business. We discuss Botox parties, concierge medicine, and their proactive conversation with the medical board. . Visit our website www.byrdadatto.com to learn more and to subscribe to the ByrdAdatto newsle...

In this episode, we share the story of a plastic surgeon who blindly entered into an employment arrangement with a practice notorious for filing lawsuits against physicians who tried to leave. We explore key elements of physician employment agreements, including non-compete clauses, termination notices, bonuses, tail insurance, and financial considerations. Visit our website www.byrdadatto.com to...

In this episode, we share the story of two best friends who turned enemies after starting their orthopedic surgery practice. We explore how their lack of hard conversations spiraled into a series of unfortunate events. Tune in as we discuss what happens when you don’t have things in writing, business break-ups, and how to avoid them by dealing with the “what ifs” upfront. Visit our website www.byr...

In this live recording of the Legal 123s with ByrdAdatto Podcast hosts Michael Byrd and Brad Adatto bring back the red “ding” button from season seven and discuss three stories with major red flags. Join us in this special episode as we use powerful stories to teach important compliance lessons for med spas, including med spa ownership, telemedicine for good faith exams, and estheticians and medic...