Selling practice

[geauxg8rs]

i am looking at selling my practice. Has anyone had success with a sales firm?

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[clubdeac]

where are you located? I may buy 😉

 

[NJPAIN]

i am looking at selling my practice. Has anyone had success with a sales firm?

Retiring?


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[powermd]

i am looking at selling my practice. Has anyone had success with a sales firm?

Have you thought about taking on a partner and allowing him to do a buy-in? You could scale out as he scales in. Would help with patient acceptance of the new doc too.

 

[drusso]

Have you thought about taking on a partner and allowing him to do a buy-in? You could scale out as he scales in. Would help with patient acceptance of the new doc too.

This is what Dentists do.

 

[geauxg8rs]

Have you thought about taking on a partner and allowing him to do a buy-in? You could scale out as he scales in. Would help with patient acceptance of the new doc too.

Not retiring. Wife is not doing well with the climate here. Want to move south for healthier lifestyle.
I thought about taking a partner and then selling to him/her, but that will take longer than I want (ideally).

 

[NeedPainDoc]

Where are you located?

 

[bronchospasm]

Stay away from transition consultants.

 

[Aether2000]

Where are you considering moving to?

 

[lonelobo]

I never understood "buying a practice", why If I knew you were leaving I would just start up a new one in the area

 

[drusso]

I never understood "buying a practice", why If I knew you were leaving I would just start up a new one in the area

You're buying contracts, patient charts, referral relationships, employees with "street knowledge" and "ground truth" about how things in the community/business actually work, and "good will."

 

[hyperalgesia]

I'm sure this has been covered but I wasn't aware that Medicare no longer allows hospitals to umbrella local practices under HOPD. Previously covered practices are apparently grandfathered into the crooked scheme. Better late than never, I guess.

I guess a hospital could still buy a private practice and relocate the practice to its campus...

https://www.hfma.org/Content.aspx?id=50525

 

[drusso]

I'm sure this has been covered but I wasn't aware that Medicare no longer allows hospitals to umbrella local practices under HOPD. Previously covered practices are apparently grandfathered into the crooked scheme. Better late than never, I guess.

I guess a hospital could still buy a private practice and relocate the practice to its campus...

https://www.hfma.org/Content.aspx?id=50525

So many doctors tacitly participated in this fraud by signing employment contracts with systems perpetuating reimbursement arbitrage, but none of them have been held accountable by medical boards. I think that the behavior rises to the level of dishonorable conduct. If you're doing procedure at a HOPD that is costing a payer 2-3X times what it would in a private practice MD office--how is that not fraud?

 

[lonelobo]

You're buying contracts, patient charts, referral relationships, employees with "street knowledge" and "ground truth" about how things in the community/business actually work, and "good will."

Contracts can change year to year, patients can seek care other places, referrals relationships are with Doctor not practice....
Still don't see a good reason

 

[drusso]

Contracts can change year to year, patients can seek care other places, referrals relationships are with Doctor not practice....
Still don't see a good reason

Depends upon how well the previous employer built a brand. If its just the doctor, you're right. But, if the organization has employed MD's, ancillaries, etc then there is value.

 

[lonelobo]

Depends upon how well the previous employer built a brand. If its just the doctor, you're right. But, if the organization has employed MD's, ancillaries, etc then there is value.

Well yes that would be different than selling a solo practice, which I believe is the case here

 

[Ducttape]

So many doctors tacitly participated in this fraud by signing employment contracts with systems perpetuating reimbursement arbitrage, but none of them have been held accountable by medical boards. I think that the behavior rises to the level of dishonorable conduct. If you're doing procedure at a HOPD that is costing a payer 2-3X times what it would in a private practice MD office--how is that not fraud?

its not fraud if that is where, as an employed physician, you are under contract to do your procedures.

I find it specious to blame a physician for doing procedures in a HOPD when he is most likely "required" (ie only allowed access) to do procedures there.

 

[lonelobo]

its not fraud if that is where, as an employed physician, you are under contract to do your procedures.

I find it specious to blame a physician for doing procedures in a HOPD when he is most likely "required" (ie only allowed access) to do procedures there.

Sometimes there are health and safety reasons to do in either ASC or HOPD as well