Start your medical practice.Spend your time on patients.

In most states, yes, through a professional LLC or professional corporation, and some states allow a medical corporation. A few states limit LLCs for licensed professions. Owners must usually be licensed in the profession, and some states require the entity to register with the licensing board. Our office forms the entity in the state where you practice and gets the EIN.

Many practice owners elect S corporation tax treatment so part of the profit is paid as distributions instead of wages subject to self-employment tax. You must pay yourself a reasonable salary through payroll. Our office reviews your expected income, files the election, and runs owner payroll so the setup holds up.

You need a group NPI for the practice, an individual NPI for each provider, and enrollment with each payer, such as Medicare through PECOS, your state Medicaid program and private insurers. Credentialing can take months, so start early. Our office sets up your entity and EIN first, since every payer application asks for them.

Practices usually carry professional liability, often called malpractice, for each provider, plus general liability, property coverage for equipment, cyber coverage for patient data, and workers' compensation once you hire. Hospitals and payers ask for proof of malpractice coverage during credentialing. Our agency quotes these together for your practice.