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AudioEducator will conduct a LIVE webinar on the strategies to smoothen the transition process of retiring, buying & selling the physician practice.
Durham, NC (PRWEB) August 29, 2014
In 2014, industry veterans are expecting a record-break in terms of physicians retiring, merging or selling their practices. The Deloittes 2013 Survey of U.S. Physicians* suggest that many physicians are likely to retire earlier than planned in the next two to three years. According to the survey, most U.S physicians are concerned about the future of their profession because of many changes in the healthcare market. In general, physicians are cynical and worried about the future of medicine; majorly about the professions erosion of clinical autonomy and income, and its inability to achieve medical liability reform.
Many physicians this year are facing important personal, professional and financial decisions including retiring, selling, or closing down the practice. The process of transition is a daunting task involving numerous details and deadlines. The smooth transition of practice requires proper planning and sufficient time for effective implementationfor patient, staff and family. So if a physician is planning to hang up the coat, there are few things to consider beforehand.
Structure of the Practice
The structure of physician practice is pivotal for retirement options and the legal regulations governing it. For instance, if a physician is practicing solo, they have the option of either dissolving the practice or selling it to another physician. A purchase agreement is required in case of selling the practice to other physician, describing the rights, liabilities, legal and ethical obligations to employees of the purchasing and selling parties.
Having a proper contractual agreement is imperative for any buy-sell venture. A buysell agreement must cover the terms and conditions for the buying and selling of a retiring physicians ownership interest in a medical practice. Proper delegation of medical records of the patient is the biggest challenge of transitioning a practice. Physicians need to know that the obligations that exist under legal agreement and laws do not go away at retirement. They could possibly be bound directly or indirectly to the contract that extends beyond the date of retirement.
Join industry veterans Debra Phairas and Gary Ware in a riveting web session on Transitioning Your Practice Retiring, Selling, or Buying a Practice on Thursday, September 4, 2014, where they would be presenting creative strategies to smoothen the transition process (retiring, buying & selling) of physician practice. They will talk about why its important to sell the practice before slowing down or discontinuing. Plus, they will be sharing the latest information on valuation methodology for selling, divorce or estate planning.
Heres a snapshot of the session:
For more information, check http://www.audioeducator.com/hospitals-and-health-systems/transitioning-medical-practice.html
AudioEducator brings the most compelling list of audio conferences/ Webinars on wide array of heath care topicsmedical coding, billing, HIPAA/ compliance, ICD-10, EHR, and more. Get trained from the comfort of home or office without spending a penny on travel. Pick a format for training live conference/On Demand/ DVD/ PDF transcripts and start learning.
For more information, check - http://www.audioeducator.com/
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