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Selling Your Medical Practice: A Comprehensive Guide

Selling a medical practice is not just a transaction; it's a pivotal moment that marks the culmination of a distinguished career in healthcare. Unlike selling a regular business, the process involves intricate considerations, intricate negotiations, and a deep understanding of the unique challenges faced by physicians transitioning out of their practices.

Thinking of Selling My Medical Practice – Frequently Asked Questions

  • When should I sell my medical practice?
  • How much is my medical practice worth?
  • How long is the process to sell my medical practice?
  • Why hire a medical broker or consultant to sell my medical practice and, why not sell the practice myself?
  • How do I choose a medical practice consultant?

Hot Tips for Selling/Buying Your Medical Practice

The medical practice environment has gone through some extensive adjustments in how business is conducted with the new healthcare initiatives. What hasn’t changed when selling a practice, or buying a practice are the details and legal preparations needed to complete the process.  It’s important to work with a medical broker experienced in maximizing the value of the practice for sale, and knowledgeable of the recent healthcare law requirements to avoid federal penalties.

ICD-10 ready?

How Much is ICD-10 Going to Cost You?

With ICD-10 finally in action for inpatient facilities, small practices are getting the first real look at the cost factor involved in the transition. In February 2014, The American Medical Association predicted that the cost of implementing ICD-10 would be significant for physicians. At least one survey disputes that estimate, stating the costs were much lower than expected. Now that ICD-10 is a reality, practices are able to assess the bottom line to calculate the financial impact of the changeover.

So You Want to Sell Your Medical Practice? Here are the Six Things to Know!

The decision to sell the medical practice is inevitable for a majority of sole practitioners and practice owners. Not without a good reason. The sale – whether for retirement or for making a career transition – can provide a range of benefits to the owner. 

Do you know exactly how to go about selling your medical practice for maximum profits, notwithstanding the market conditions? Yes, you read that right – it is possible to maximize profits despite the condition of the market at the time of sale. 

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Most doctors looking to buy or sell their practice can’t find the time to figure out the complicated steps involved. At Transition Consultants, we’ve created a process that makes the transition painless so they can move into their next season and start living life on their own terms.

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