I have been in London where I’ve had the chance to meet and consult with representatives of the burgeoning private practice physician organizations to discuss the progression of American-style managed care and regulation and what the stages might look like – and none too soon it would appear. I was also granted the opportunity to give a seminar on valuation of physician practices for tax purposes and describe the significant differences between US and UK tax policy and how it might affect value – notably, there is no equivalent to IRC section 351 and the transfer of goodwill to a corporation by an unincorporated individual in the UK is a taxable event. The taxation and value of physician goodwill have become quite important as the number of private physician practices has climbed in response to the partial move away from National Health Service (NHS) to a mix with private health insurance. Many doctors have begun private practices in addition to their weekly commitment as employees of the NHS. There are quite a few private hospitals in London as well, some owned by large American companies, notably HCA. Private health insurance and the related export of American-style managed care is somewhat surprising, particularly in light of present trends here in the US.
I have been invited to write an article for the leading physician trade magazine on managed care and its stages of progression and once it is published, I will post excerpts of it here.
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