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Regulatory Compliance
What Is Regulatory Compliance?
Medical spas that perform noninvasive, nonsurgical cosmetic procedures and wellness centers that operate as IV (intravenous) therapy bars are considered to be practices of medicine under the law. The practice of medicine in these settings involves the diagnosis, treatment, and prevention of illness or alterations to the human body and its functions with the intent of enhancing appearance and promoting wellness. In 38 states, Corporate Practice of Medicine (CPOM) laws mandate that medical spas or IV therapy bars can only be owned by a physician or a licensed healthcare professional to accept medical service payments These laws also require that a physician be responsible for administering all treatments, making clinical decisions, and receiving payments for medical services. Medical providers are required to adhere to regulatory standards to minimize the risks associated with providing cosmetic treatments. Providers of Old Mission IV Nutrition and Old Mission Aesthetics have become very knowledgeable and savvy about the ins and outs of opening and maintaining regulatory compliance with state laws. We offer a fully operational, legally compliant framework with exceptional service and support for medical spas nationwide. With more than 20 years of experience in cosmetic medicine, our compliance team wants to help you develop your business, maintain regulatory compliance with state laws, and establish a lawful and financially successful strategy for your medical practice.
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Our team of holistic wellness specialists incorporates natural medicine and clinically proven therapeutic lifestyle solutions to treat and prevent chronic conditions. Schedule a virtual consultation today to learn more about how we can help support lifestyle changes that could prevent and treat chronic disease to possibly reverse its effects.
How Can Old Mission Help My Business Grow With Regulatory Compliance?
Our expert team can help you maneuver the obstacles and channels to compliance. Reaching compliance can be a complicated process where physicians must own the professional corporations of med spas and IV bars and act as medical directors, partnering with a registered nurse, aesthetician, or other healthcare provider to provide the clinical oversight needed for compliance. Most states follow the CPOM doctrine, which prevents nonphysicians from owning and operating these practices and receiving payment for medical services. Old Mission IV Nutrition and Old Mission Aesthetics have the experience, tools, support, and resources to clarify the law, ownership, and accounting principles between medical and nonmedical management of med spa and IV bar practices.
In many medical spa settings, simply having a medical director is not enough for compliance. Medical directors must be physicians. However, a Management Service Agreement between the physician and the Management Service Organization, which supplies services to the business, can create a type of ownership. The MSO-MSA model allows non-physicians to manage the day-to-day med spa operations, which may include marketing, accounting, billing, branding, payroll, human resources, and more. However, the administration of healthcare services falls under the practice of medicine and is the physician’s or medical director’s responsibility. Most states require this licensed physician or medical professional to oversee all medical and clinical decisions to be legally compliant and ensure client safety. Absentee medical directors are unacceptable in these states. We can help you grow your business and maintain compliance with state and local laws.
What Are the Benefits of Regulatory Compliance?
Utilizing our regulatory compliance model, Old Mission IV Nutrition and Old Mission Aesthetics help businesses decipher state CPOM laws to help secure a safe, quality, and successful medical practice in the competitive healthcare landscape. Following regulations and standards ensures the integrity of medical practices specializing in aesthetic and IV nutrition services. Compliance not only ensures that practices operate within the legal framework, but it also brings several key benefits that can significantly impact the quality of care, business sustainability, and the overall reputation of your practice. Some advantages of maintaining compliance with state regulations include:
- Enhanced patient safety: With only licensed healthcare professionals performing medical procedures, patient safety is significantly increased, reducing the risk of complications or malpractice
- Improved quality of care: Clinical decisions made by qualified physicians enhance the standard of care provided to patients
- Legal protection: Compliance protects the practice from legal issues and penalties associated with noncompliance, including fines and the potential loss of a license to operate
- Increased credibility: Operating within legal boundaries enhances the reputation of the practice from the patient and broader healthcare community perspectives
- Financial stability: Avoiding costly legal battles and fines contributes to the financial stability and profitability of the practice
- Access to insurance and liability coverage: Complying with state laws ensures that medical practices can obtain necessary insurance and liability coverage without issues
Frequently Asked Questions About Regulatory Compliance
What are the consequences of non-compliance with CPOM regulations?
The penalties for non-compliance can be severe, ranging from hefty fines and legal action to license revocation and even the shutdown of your business. It’s crucial to prioritize compliance to protect your practice and your patients.
Does Old Mission Medicine assist with setting up the legal structure of my business?
Yes, we can help you determine the appropriate legal structure for your med spa or IV therapy business, such as forming a Professional Corporation (PC) or Management Services Organization (MSO), to ensure compliance with CPOM requirements.
How does Old Mission Medicine stay up-to-date on the latest CPOM regulations?
Our team actively monitors changes in healthcare legislation and regulations across all states. We participate in industry conferences, engage with legal experts, and continuously update our knowledge to ensure our clients receive the most accurate and current compliance guidance.
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