A pain management physician came to IBP requesting a way to increase revenues for his physician-owned urine drug testing laboratory.
IBP helped the physician to identify and characterize the current regulatory environment in order to transform lab testing from an ancillary service to a necessity. By developing a program which helps physicians ensure their own long-term compliance and success, as well as being able to invest in and profit from that effort, IBP provided a way for participating physicians to do well by doing good, for their practices and their patients.
IBP concurrently developed a proprietary structure by which the lab could source strategic investment on the part of physicians and other investors, including those who could contribute samples to the lab–the Contributing Partnership Program.
IBP developed this program from scratch including:
- Comprehensive compliance review, sourcing and management of third-party legal opinion
- Development of compliant marketing materials for solicitation of strategic investment
- Implementation and licensure of complex legal structures
- Drafting of internal structuring documents, as well as external marketing and subscription documents
- Strategic and management consulting with the owning physician.
IBP’s program has the potential to add great value to a physician’s bottom line, at minimal risk and expense. This solution is nationally scalable, and it informs a client’s entire investment and management strategy.