The Medical Practice Environment Has Gone Through Some Extensive Adjustments

994 Words4 Pages
The medical practice environment has gone through some extensive adjustments in how business is conducted with the new healthcare initiatives. What hasn’t changed when selling a practice, or buying a practice are the details and legal preparations needed to complete the process. It’s important to work with a medical broker experienced in maximizing the value of the practice for sale, and knowledgeable of the recent healthcare law requirements to avoid federal penalties. When selling a practice the most critical factors is determining the value of the medical practice according to the market segment, economic development of the region including the region’s professional and social amenities. It’s no secret that the demand for medical practices has multiplied as a result of the increased healthcare issues affecting the growing retirement and Millennials populations. The success of the sale hinges on working with an experienced medical broker specializing in the healthcare business organizing and arranging a smooth transition of ownership. Something to keep in mind, not all medical practices are the same, they do however share common obligations to the industry requirements and they have similar business functions for determining the value of the business when establishing the sales price. Here are five business actions that take into account both the market value and the strategic value for a specific buyer looking to take complete ownership or buy into an already
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