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Tired of struggling with falling reimbursements and rising costs and complexity, physicians are selling their practices to hospitals at a feverish pace. But selling isn’t always a slam-dunk solution. In fact, physicians may find that the same problems that prompted them to sell their practice to the hospital — regulatory headaches, stagnant income, long hours — continue to frustrate them as hospital employees.
The trouble is, few physicians have the business, legal, and accounting background needed to assess their situation and – if selling is the right choice – to find the right hospital partner and structure a realistic deal that rewards them with the income, freedom and peace of mind they’re seeking. That’s why so many physicians who sell end up dissatisfied.
In this new and expanded edition of Time to Sell?, veteran practice consultant Randy Bauman helps physicians and practice administrators examine their own selling scenario—from how much the practice is worth to the operational, deal-making, and legal issues that would shape the sale. He helps physicians find the right answers and make the best deals. Should the time not be right for a sale, Bauman also explores alternative options for not selling, including ways to make the existing practice more profitable, efficient, and satisfying.