Nevada Revised Statutes 598A.320 – ‘Group practice’ defined
1. ’Group practice’ means two or more practitioners who are legally organized in a partnership, professional corporation, limited-liability company formed to render professional services, medical foundation, nonprofit corporation, faculty practice plan or other similar entity:
Terms Used In Nevada Revised Statutes 598A.320
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) In which each practitioner who is a member of the group provides substantially the full range of services that the practitioner routinely provides, including, without limitation, medical care, consultation, diagnosis or treatment, through the joint use of shared office space, facilities, equipment or personnel;
(b) For which substantially all of the services of the practitioners who are members of the group practice are billed in the name of the group practice and amounts so received are treated as receipts of the group; or
(c) In which the overhead expenses of, and the income from, the group are distributed in accordance with methods determined by members of the group.
2. The term includes any entity that otherwise meets the definition whose shareholders, partners or owners include single-practitioner professional corporations, limited-liability companies formed to render professional services or other entities to which beneficial owners are individual practitioners.