Urology Practice Valuation Strategies
A medical practice valuation exercise can enhance the overall optimization of your urology practice, as well as allow you to comfortably entertain potential acquisition offers. In addition to obtaining an idea of what your practice is worth, the economic climate, competitive landscape, and private-equity infusion of funds should also influence the path you decide to […]
Securing your wishes through charitable giving
Charitable giving plays an important role in many financial plans. However, many people tend to approach charitable giving as a quick exercise they think about once a year. In reality, it requires thoughtful planning, especially if you’re making larger charitable gifts, to ensure your wishes for your money both now and in the future are […]
Finding your medical practice’s optimal staffing level
If your practice has too few staff members, patient care may suffer and collections may slow down. If you have too many, you’ll face rising operational costs. Is there an optimal level that will allow you to operate your practice efficiently without letting your costs get out of control and creating dissatisfaction among patients? Start […]
Positioning your assets to pay for long-term care
One of the most likely expenses in retirement is often one of the most over-looked: paying for long-term care. With healthcare costs continuing to escalate and people living longer, the problem will only continue to grow. Are your assets positioned to help you pay for this possible retirement expense? There are three common strategies used […]
The role of technology in value-based care
In recent years, the healthcare industry has trended to value-based care, an approach that aims to deliver higher quality care more efficiently and with better patient outcomes. This has a meaningful impact on the way patients receive care as well as how providers are paid, leading many providers to evaluate how they operate. Technology, in […]
Expanding by buying another practice: What you should know
For some time, you have thought about expanding your private medical practice. However, you haven’t taken things much further because the right opportunity hasn’t appeared. Now, a nearby practice has been put on the market and it looks like it would fit in perfectly with your plans for expansion. Before you make an offer, though, […]
Transitioning your medical practice through merger or sale of an ownership stake
Constant changes in the healthcare industry, along with an aging physician-owner population eager to ramp down heavy workloads, have caused many providers to consolidate, either through merger or sale of the practice to another group, or transitioning an ownership stake in the practice to another individual. This consolidation has taken on many forms, including: Practices […]
The importance of a buy/sell agreement
All group medical practices should strongly consider having a buy/sell agreement. Typically, a buy/sell agreement states that a physician’s ownership interest in the practice cannot be sold to someone outside the practice without the approval of the other members of the practice. The other physicians in the practice have the option of buying the ownership […]
Three ways your medical practice might lose out by not being transparent enough
In reaction to sweeping changes occurring in the healthcare industry, private practice physician-owners and network providers are seeing an increase in their patient population’s enrollment in High-Deductible Health Plans (HDHPs), which place a bigger financial burden on the consumer and require price transparency from providers. Patients, providers and payors can all view transparency in different […]