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can readily sell her 50% FLP interests to a third party and may even be subject to sale restrictions in the partnership agree- ment. Because of these factors, a willing third-party buyer may not want to pay full price for one sister's 50% interest, as he or she will not fully control the partnership (control discount) and cannot readily sell the acquired interest (marketability discount). These two discount factors are used to arrive at the overall discount of an FLP interest. The asset protection and estate planning advantages make an FLP an attractive option, especially because it does not require the owner to part with the assets. These three techniques are a small sample of the many asset protection and estate planning options that exist. The key to success with these techniques is starting early, before they are desperately needed. Those who start late or while in crisis mode will find planning options limited and unlikely to succeed. Bennett Allison, CPA, CFP, is a share- holder at Sol Schwartz & Associates, P.C. (cba@ssacpa.com). He has 16 years of public accounting experience serving individuals, corporations, S-corporations, partnerships, trusts, estates and nonprofit organizations. In addition, Allison works with a high concentration of physician practices and high-net-worth individuals. Contact him at (210) 384-8000, ext. 138. ■ Connecting Telemedicine PatientsThrough T ELEMEDICINE IS USED in numer- ous capacities throughout the medical industry, with its benefits, among other things, allowing patients at rural hospitals to be examined by specialists at other loca- tions and placing patients in touch with physicians who can provide expertise. Physicians can now take the next step in telemedicine by offering their patients around-the-clock access to medical professionals through this technology. Telemedicine technology can now transform the patient-to-physician phone calls of the past into a full-service line for a medical practice. Patients who once left messages and waited for a physician or nurse response can now speak with a provider on the spot, reducing wait times and creating more satisfaction for the patient. "Physicians have been using telemedi- cine since the telephone was invented," says Douglas Smith, M.D., Chief Medical Officer of Consult A Doctor With AS THE HEALTH CARE INDUSTRY CONTINUES TO EVOLVE, PHYSICIAN PRACTICES MUST STAY AHEAD OF THE CURVE. INNOVATIONS IN TELEMEDICINE MAY PROVIDE SOLUTIONS FOR MORE EFFICIENT PRACTICE MANAGEMENT. and co-founder of MinuteClinic. "Now we can use telemedicine in ways that are advantageous for the patient, physician and practice as a whole." Bring the Practice to Patients Through platforms such as Consult A Doctor, which focuses on providing intui- tive services similar to the functions of a smartphone and has provided more than 20,000 physician-patient interactions, physicians can enhance the practice they have already built. Rather than requiring patients with minor recurring issues to schedule an appointment, visit an office, speak with a physician, offer payment for the appointment or receive a prescription, the patient simply contacts the telemedicine service, details the problem, and the prescription can be written during the interaction — without the hassle. The physician can access patient information, including medical history and medication information, via the platform, and interacts with patients via telephone, video consulta- tion and e-mail consultation. An audio recording of the interaction is made, and documentation of case details is created. These interactions free up space to see additional patients in the clinical setting while still generating revenue, as the interested patients pay a monthly fee for the service. Successfully implementing tele- medicine into a physician practice also involves overcoming common challenges. Physicians must re-envision the way they conduct their daily tasks and utilize tele- medicine to promote increased workflow and revenue for the practice. "Telemedicine can be a separate part of a physician practice that enhances clinical services," Dr. Smith says. "This technology can be a solution that allows for better patient care without disrupting practice management. Telemedicine can be a way to offer additional services to patients while keeping business profitable." ■ MDNEWS.COM ■ MD NEWS San Antonio | 11 ++++++++++++++++++++++++++++++ +++ +++ ++++++++++++++++++++++++++++++ PRACTICE MANAGEMENT + +