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Checklist: Negotiating to sell your medical practice

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Checklist: Negotiating to sell your medical practice Powered By Docstoc
					what to consider
  when selling your practice

 negotiations: a checklist
 c Know your benchmarks, how much                   c Would the billing process, personnel, or
 money you want to make, and how your               service change? Is the acquiring entity’s billing
 productivity would be tied to compensation.        team competent? If not, would it affect your
                                                    pay?
 c Verify the financial health of the entity that
 would be acquiring your practice.                  c How would your authority over your staff
                                                    change?
  c Inquire about current or pending litigation
 against the organization that would be             c Would you be able to choose your own
 acquiring your practice.                           staff members, or would they be assigned to
                                                    you without your input or control?
 c Obtain and understand the new work
 schedule, call schedule, and daily productivity    c Would your current staff members be
 that would be expected of you.                     retained? Would they be paid and offered
                                                    benefits by the purchasing organization?
 c Obtain and understand the proposed
 personal compensation model and payment                o
                                                    c T whom would your staff members
 schedule.                                          report?
 c Will the entity pay for good will/intangible     c What rights would the buyer have to call
 value, or will it pay only for the value of        on you for information?
 your used tangible assets? What will be the        c What would be your financial reporting
 tangible assets versus good will allocation        and financial audit rights?
 price? (Obtain advice from a certified public
 accountant regarding the tax effects.)             c Who would collect your accounts
                                                    receivable? Who would get the money? How
 c Check on the terms of getting out of or          would debts sent to collections be handled?
 transferring your office lease, whether you
 plan to stay there or relocate.

				
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posted:7/12/2012
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Description: If you're considering selling your practice to a hospital or healthcare system, this checklist by the Medical Economics staff will help ensure you get the best deal you can and have a successful transition from owner to employee.