Healthcare transaction lawyers work with people on both sides of a deal, and as a result you may come across physician representatives and institutional representatives. Each works differently based on who or what is being represented.
The first step in differentiating between these two types of representatives is to understand how each type of lawyer gets involved in a healthcare transaction. In doing so, you can better understand who and what to look in your search for a health lawyer for your own purposes.
Attorneys who work as physician representatives are involved with physicians and physician owners. These lawyers represent individuals and the work they involve themselves in reflects that.
The sort of transactions that involve representing individuals can be, for example, syndication or re-syndication at an organization like an ambulatory care center such as a surgical facility, radiation oncology, or endoscopy center.
Lawyers who work for private equity firms, hospitals, health systems, and other commercial businesses are institutional representatives. Put simply, they represent the organization. Many times lawyers such as these could be considered strategic partners for ambulatory surgery centers (ASCs), imaging centers, and physician practices.
These attorneys are involved in a greater number of transactions, including mergers, acquisitions, divestitures, and affiliations than individual representatives. Institutional representatives work with the organization as a whole and require specialized knowledge and expertise to properly advise that organization. Their work may often include balancing conflicting ideas about a transaction and ensuring that all members of an organization, like an urgent care center, are in agreement.
Healthcare transactional lawyers, regardless of whether they are physician or institutional representatives, work to guarantee the deal is done right and that their clients are in the loop in regards to cost and other expectations.