Closing or Selling Your Medical Practice: Legal and Financial Considerations
Are you thinking about closing or selling your medical practice? Several things need to be taken into account when making a career-changing decision.
How will the antikickback law affect your sale? If you are closing your practice, how should you notify your patients and handle their medical records? Have you made arrangements for your practice's sale or continuity in the event of your disability or death?
This publication will cover the following:
- Sale of a Medical Practice
- Notifying Patients and Employees
- Medical Record Retention Guidelines
- Dealing with Subpoenas
- Retirement
- Death or Incapacity of a Physician
This book also contains forms, lists, and sample letters to help you follow the law and protect your interests.
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Table of Contents
Chapter One
Sale of a Medical Practice
General Guidelines of Selling a Practice
Valuation of a Medical Practice
Caveat Concerning Goodwill
Antikickback and Self-Referral Issues in Medical Practice Acquisitions
Ethics of Medical Practice Transitions
Restrictive Covenants
Chapter Two
Notifying Patients and Employees When Selling or Closing a Medical Practice
Notifying Patients to Avoid Abandonment Charges
Notifying Employees
Conclusion
Chapter Three
Medical Records
Retention Guidelines
Release Guidelines
Dealing with Subpoenas
Sample Clause for Transfer and Custody of Medical Records
Chapter Four
Important Decisions for Retiring Physicians
Retired Physician Exception to Texas Licensure Rules
TMA Membership and Your Retirement
TMA Insurance Trust Information for Retiring Physicians
Chapter Five
Death or Incapacity of a Physician: Pre-Death Planning
Personal Planning
Professional Planning
Buy-Sell Agreements
Planning for Access to Financial Accounts and Business Records
Planning to Manage the Practice
Chapter Six
Death of a Physician: Post-Death Arrangements
Probating the Estate
Practice Issues
Sale of Ownership Interests in the Practice in Multiple-Owner Practices
Closure of the Practice
Appendices
A. Sample Notification Letters for a Physician Discontinuing Practice
B. Practice Closure Checklist
C. Helpful Information and Addresses
D. Sample Authorization to Use or Disclose Protected Health Information
Last Updated On
April 23, 2015
Originally Published On
March 23, 2010