Definition of Practice Expenses


Practice Expenses means all reasonable expenses incurred by Practice in performing its obligations hereunder, including, but not limited to, any salaries, payroll taxes, bonuses, and other amounts payable under Physician Employment Agreements or payable to Physician Extenders, as well as other customary expenses incurred in the employment of or contracting with Physicians necessary to meet Practice's obligations, expenses incurred in connection with Practice's rendering of or participation in outcome and related studies, and expenses relating to educational efforts by Practice. The compensation payable to Physicians and Physician Extenders shall be proposed to Practice by Manager, and one or more representatives from Manager shall be invited to attend Practice Board of Directors meetings at which such compensation is discussed. In addition, as necessary to comply with applicable law and regulations, the costs and expenses related to the marketing services and managed care contracting services described in Sections 3.18 and 3.19, respectively (together, the "Practice Performed Services"), shall be borne by Practice. In practice Manager shall pay the costs and expenses related to the Practice Performed Services and then charge back such costs and expenses to Practice's books, and the Practice Performed Services shall be treated by the parties similar to the treatment of the Physician compensation and benefits.
Sample 1

Examples of Practice Expenses in a sentence

Such inventory, supplies and other materials shall be included in Practice Expenses at their cost to Parent or Administrator, as the case may be.
The cost of such continuing liability insurance coverage shall be included in Practice Expenses unless such cost is borne by the Physician Employee.
An amount equal to the excess of Net Practice Revenues over Practice Expenses will be transferred by Manager to Practice and used by Practice to pay Physician Expenses on such 15th day.
Any expenses incurred in the recruitment of physicians shall be treated as Practice Expenses.
All costs, expenses and liabilities incurred by the Group in excess of the limits of such policies identified in the preceding sentence shall be included in Excluded Practice Expenses.