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
c Verify the financial health of the entity that
would be acquiring your practice. c How would your authority over your staff
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
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.