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Goodwill buy-in
Started by billabong
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When I was talking to groups about buy ins, it was almost always having an independent appraiser assess the practices assets and then dividing that number by the number of partners. The old practice of blue-sky buy ins doesn't seem to work in todays market. There are literally thousands of ENT jobs out there and you can get one in any market. If they are asking you to buy in to a practice on intangibles, I would consider looking elsewhere. Perhaps the newer attendings can expand on their experiences.
Mine was 75K, which I thought was very fair, given that I was the first partner of a busy guy who had a lot of assets.
I know of one story of a guy who, after working a year as an employee, was told that the buy in would be 400K, which is obviously ridiculous. Basically the guy running the practice wanted to fire the guy coming in without having to fire him.
I know of one story of a guy who, after working a year as an employee, was told that the buy in would be 400K, which is obviously ridiculous. Basically the guy running the practice wanted to fire the guy coming in without having to fire him.
I've seen all sorts from no buy-in, to ridiculous ones. One practice I considered joining had a buy-in of $250k, but that's because they owned a large, lucrative medical office building of which I would be a part owner .
Whatever you do, make sure it's fair. If it seems like you're being taken for a ride, you probably are.
Whatever you do, make sure it's fair. If it seems like you're being taken for a ride, you probably are.
