If you are considering selling your practice to a hospital, group, or another physician, this book is a must read. This practical guide helps physicians and their managers with all the issues involved in selling a physician practice from how much the practice is worth to the operational, deal-making and legal issues that would shape the sale.
The author then walks readers through options for not selling, including ways to make the existing practice more profitable, efficient and satisfying.
Complex concepts like discounted cash flow are simplified and the reader is coached through the process of selling a practice and the legal formalities. Written in a straight-forward manner, each chapter has take away points, worksheets, and checklists to save time and eliminate guess work in working through each step.
- Why Sell? -- What selling will and won't solve; evaluating what you gain and lose (both good and bad)
- Preparing for Sale -- Optimizing your "curb appeal" and eliminating weaknesses in physician income and financial performance
- Choosing the Right Hospital Partner -- How to drive out the truth about financial stability, freedom, culture and other factors - before you sell
- What is Your Practice Worth? -- Calculating and maximizing both tangible and intangible value from the hospital's perspective
- How to draw up a contract that covers all the bases on assets, employees, and your own income
- Negotiating -- How to marshal the right advisors and get from inital offer to closed deal with the best possible terms
- Post-Sale Issues -- How to ease the transition of payor credentialing, billing, payroll, accounting and other functions
- Options Other than Selling -- Leasing, MSOs, and four other options that can help you stay independent