Three Types of Medical Practice: Group, Partnership, and Sole ProprietorshipGroup PracticeMost medical practices are group practices for a variety of reasons. In a group practice, doctors share patient duties and physical office space. This is the second most popular form of practice. Three or more doctors are considered to be providing medical care, jointly using the same facility, staff and dividing the income as agreed. There is typically greater financial security than solo practices. Compensation includes salary and bonus. Additionally, schedules in a group practice are more flexible because there are other doctors available to cover each other. However, there are some downsides to an associated practice, such as loss of independence, revamping, hiring and firing staff, relocating and expanding consent seeking facilities. In most issues, there are positives and negatives to being a member of a group practice. If you are considering it, you need to be cautious and evaluate the nature of the practice to determine whether you would be compatible with the group members. However, the advantages of being a member of a successful group practice can easily outweigh its disadvantages. A great advantage of a group medical practice is the ability of group members to share the burden of being “on call” to cover patients during non-business hours, such as nights and major holidays. However, careful investigation of a physician's affiliation with a group should be made initially to determine the group's particular call coverage practices and the extent to which the responsibility for call coverage will fall to that particular physician. ...... half of the document ...... (SSI) of a former owner cannot be used by a new entrepreneur. The owner reports business profits or losses on his personal tax return. A sole proprietor is taxed on all assets of the business at appropriate personal tax rates. The company's income and acceptable expenses are reflected in the person's tax return. All corporate income is taxed to the owner in the year the business acquires it, whether or not the owner takes the money out of the business. No federal tax returns are acquired from the sole proprietor.Works Citedwww.aboutus.comwww.ask.com/questions-about/Disadvantage-of-Partnershipwww.directincorporation.comwww.answers.com/topic/sole-proprietorship#ixzz1gXdHOEkGwww. ehow.com/info_8136243_five-types-medical-practice.html#ixzz1gXB1Hhm3http://careers.stateuniversity.com/pages/100000668/Medical-Practice