In recent years, many of our clients and friends 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.
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 the opportunity 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 the link. You’ll be asked to register on 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 recording – registration required]