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.
How Can You 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 nonphysicians 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
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Dr Mason is a doctor that cares about your whole body and mind. I wouldn't trust anyone else.
Doc is amazing! It has been a very long time since I had a Doctor actually care about my health and set up a viable medical plan vs. just trying to remedy the current health issue.
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Take Your Business to the Next Level
Our team is prepared and eager to partner with you to take your med spa to the next level. With our guidance, we can help unlock the full potential of your medical practice. Our team brings a wealth of knowledge and experience in navigating the complexities of regulatory compliance, ensuring your business operates within legal frameworks and maximizes profitability. Reach out to Old Mission IV Nutrition and Old Mission Aesthetics today for guidance on becoming a thriving, compliant, and profitable medical practice.