Closing or Selling Your Medical Practice

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