In recent years, clients and friends of C&M have been involved in practice acquisitions or mergers. In many of these cases, a practice in a nearby area has come up for sale, perhaps due to retirement or death of a physician owner. These can be exciting opportunities, but stressful, too. There is usually pressure to respond quickly. And, of course, the decision usually involves a significant investment. (And one of the stressful aspects of it is that the total investment–not just the purchase price, but all costs involved, before, during, and after the transaction–can be hard to project and easy to underestimate.)
The need to move fast often makes it hard to even think through all the questions you want to ask — much less get answers to all of them. When the pressure’s on, fear of missing out may take over. But if you move too fast, you may “win” the opportunity without realizing what it really costs.
“Buying the practice down the street” may be a fantastic way to quickly expand your practice, but it’s not without significant pitfalls. Information and a solid plan are your best tools for protecting your interests.
In this short webinar (about 30 minutes), Laurie Morgan outlines some of the key questions to consider when deciding whether to buy a nearby practice.
To view the recording, click this link. You’ll be asked to register. Once you confirm, you’ll receive a link to the video page.
Once you’ve watched, we’d love to hear from you if you have questions. And, of course, we’re at-the-ready to help you with consulting services before you make a purchase decision (or before you put your practice on the market). Use the contact form to email us or give us a call.
- Should you buy the practice down the street? [on-demand webinar] - March 2, 2020
- Net collections: Are you waving the white flag? - February 12, 2020
- We’re recruiting for a fantastic pediatrician opportunity in a desirable location - October 17, 2019