What are several “must do’s” if I have a PCA?
There are several must do’s if you enter into a PCA with another professional or firm: you must be realistic you must design an attractive compensation agreement for your PCA partner you must realize you are trying to alleviate or eliminate the enormous amount of stress placed on your family and staff during a very […]
What makes a PCA attractive?
There is a very important acknowledgement that one needs to make if they are seeking a PCA partner to provide back-up and support. That acknowledgement is that the PCA partner gets all the headaches and does not really reap the rewards, especially if the reason for triggering the PCA is short-term disability. Therefore you must make […]
What should be included in a PCA?
Main Terms to Negotiate and Include in Your PCA include: A clear definition of the circumstances which trigger the activation of the PCA and any other components contained therein. A clear and concise agreement as to the definitions of short and long-term disability is critically important to incorporate in the agreement. There have been horror […]
What are the Five Key Steps to creating a PCA?
Below are five key steps to the creation of a PCA and the supporting practice procedure and operating documents that will reasonably allow your PCA partner the best opportunity to step in for you, if need be, and provide a degree of continuity keeping the trust and confidence of your clients. Step 1: Establish a […]
Should I have a PCA?
To determine if a PCA could play an important role for you or your firm there are four simple questions to ask yourself: Does my spouse, staff or immediate heirs know what to do with my practice if I die, become seriously ill or disabled? What position will my clients find themselves in if I […]
What is a Practice Continuation Agreement (PCA)?
A Practice Continuation Agreement (PCA) is an agreement that has its intent founded in the desire to provide, or receive, back-up and support and possible succession under difficult circumstances most often associated with the death or disability of an owner or partner. A PCA is an agreement that details the who, how, when and where […]