Frequently Asked Questions (FAQ’s) 1. GENERAL: THINKING ABOUT JOINING 1 A. How do I know if SCLLC is good for me or my practice? SCLLC will conduct an analysis, with your help, of the affect of its programs on your practice. This involves a financial assessment of potential expense savings or reimbursement increases. The results of this analysis are guaranteed when you join SCLLC. 2. MEMBERSHIP AND CREDENTIALING 2 A. Are there several ways to get involved in SCLLC, for example, as a member versus as an owner? After a credentialing process and after signing agreements, physicians become members and are automatically owners. They have an equity share and receive K1’s for tax purposes at the end of the year. 2 B. What is the credentialing process? SCLLC insures that each physician accepts the appropriate third party medical insurance carriers (HMOs, Medicare, Medicaid), has an acceptable professional liability history, is professionally recognized in his/her subspecialty, and signs all SCLLC ownership/membership agreements. 3. PROGRAM SPECIFIC 3A. Does a member need to take part in every one of SCLLC’s programs? No. Generally, members pick which programs they wish to be involved in. Members commit to a minimal number of programs when joining SCLLC, based on the financial assessment of their benefits. Other programs may be evaluated or re-evaluated later. SCLLC reserves the right to remove a member from any of its programs if the member is no longer appropriate for that program. 3B. Do most members participate in every program? The professional liability program and supply purchasing programs have very high participation rates. The newer programs for information technology and human resources have lower participation rates due to the age of the programs (created in 2005-06) and more selective need for the services. 4. FINANCIAL 4A. What are the costs or charges for SCLLC? There is a one-time capital contribution and there are annual program fees, depending on which programs the physician takes advantage of. The financial assessment will clearly show the costs as well as the brief time period that it takes to recoup these costs. This assessment is guaranteed. 4B. What is the effect of my equity share of SCLLC on my personal finances? SCLLC’s administrative expenses and revenues are balanced so that there no substantial effect of its net income, or your investment in SCLLC, on your personal finances. The financial benefits of SCLLC always accrue directly in your medical practice. Contact Us