Providing Legal Services to Orthopedic Surgeons with Teresa Ford

Orthopedic surgeons are constantly creating new ways to improve patient care and treatment. As a result, they are often faced with the challenge of protecting their ideas and surgical techniques. In this episode, Brad and Kameron talk with Teresa Ford, Owner of the Law Offices of Teresa Ford. Teresa's practice focuses primarily on healthcare fraud and abuse, with clients including medical device manufacturers, individual physicians, and sales agents and distributors who work with the medical device industry. She is also a lecturer and trainer to companies and physicians and has authored numerous papers on the training process and compliance program drafting and implementation. Teresa talks with Brad and Kameron about intellectual property, why orthopedic surgeons need lawyers, and how surgeons can protect their ideas and themselves, particularly when dealing with employers. Key Takeaways [01:40] - An overview of Teresa Ford's professional career. [04:31] - Why orthopedic surgeons need lawyers. [06:11] - The best time for surgeons to seek legal counsel. [12:12] - How Teresa assigned a dollar value to intellectual property. [14:58] - How surgeons can protect their ideas. [20:44] - Compensation for consulting, intellectual property, or creative work. [27:55] - How surgeons can protect themselves, particularly when dealing with employers. [30:20] - Why having a mentor is important in the healthcare industry. [32:57] - The key takeaways from this episode. Quotes [14:27] - "Intellectual property is so complicated. The biggest thing to worry about is not giving it away." ~ Teresa Ford [15:42] - "If you are currently working with industry, that will be your best conduit for getting some ideas. But don't just sit down and talk to somebody about it. Get a non-disclosure agreement for any qualified healthcare lawyer to draft. Spend that hundred dollars because it could potentially save you millions. Get your concept protected." ~ Teresa Ford [36:04] - "It's cheaper upfront if you pay a good healthcare lawyer a few hundred dollars, and you end up saving millions or hundreds of thousands. It's important not to be afraid of that concept and not to think you don't need it." ~ Teresa Ford Links Teresa Ford on LinkedIn Teresa Ford Law Offices Connect with our hosts Brad on LinkedIn Kameron on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts Financial advisors for orthopedic surgeons We believe orthopedic surgeons deserve a financial advisor who is a specialist, not a generalist. Your advisor should understand that buying into a surgery center could be more profitable than your stock portfolio. We need to be thinking about tax planning strategies, asset protection, and so much more. Investments is only scratching the surface of a great financial strategy. Our team of action-oriented advisors can bring you the innovative financial ideas just as you innovate to transform the lives of your patients. Once we understand your definition of success, you can delegate and know we are on it, saving you precious time. Learn more by visiting vestiaadvisors.com/orthopedics. In addition to orthopedics, our team members work with other specialized physicians nationwide. Check it all out at vestiaadvisors.com.