Considerations for Purchasing a Health Care Business
- Medicaid. Licensure requirements have recently changed for Medicaid providers. As of July 2020, Florida Medicaid providers are not required to obtain licensure as healthcare facilities from AHCA. If you intend to be a Medicaid provider, our attorneys can assist you with establishing your status as a Medicaid provider.
- Criminal Background Checks. In Florida, all healthcare personnel are required to undergo a level 2 criminal background check as a prerequisite to working in the healthcare field. The requirement includes, but is not limited to, employees, administrators, financial officers, anyone who has a controlling interest in a business, and even facility maintenance contractors. There are several felony and misdemeanor offenses that may disqualify an employee from working in the facility. An exemption from disqualification is required to continue to work in the healthcare field after a background check reveals a disqualifying offense. Issues with employee background checks can cause a delay in licensure for the facility.
This firm can assist you with the exemption process. The exemption process requires gathering criminal records, no matter how old, and proving to the agency through clear and convincing evidence that the individual should be entitled to an exemption from disqualification.
RELATED: Exemptions from Disqualification
- Financing. Last but certainly not least, financing the purchase of a facility can be difficult. Standard Small Business Loans (SBA) from out-of-state banks are unfamiliar with Florida licensing statutes and requirements. In a change of ownership situation, it’s imperative to have counsel to help navigate the financing process. Our firm can assist by communicating and coordinating with bank legal counsel to assist with any legal issues which may arise with the bank and the transfer of funds for the change of ownership. Also, this firm can assist with providing AHCA with other forms of contingency funding which is required for any change of ownership or acquisition.
Seek Experienced Lawyers to Guide You Through the CHOW Process
We always recommend seeking the counsel of an experienced attorney/accountant to examine the financial statements of a business or facility that you are seeking to purchase. Our team of legal experts understands the unique financial details of a healthcare business. In fact, we often work side by side with our clients’ accountants to provide a comprehensive approach to purchasing a healthcare business or facility.
Our team has assisted prospective business owners with this often tedious and complicated process. We are experienced in working directly with AHCA requirements, preparing the necessary documents, and meeting the timelines required. We will guide you throughout each step of this rigorous process and provide comprehensive advice along the way.