Transitioning Your Practice Retiring, Selling, or Buying a Practice

Event Information
Product Format
Prerecorded Event
60 Minutes
Product Description

It is always Difficult for Physicians to Sell, Transition, Start or Purchase a Practice. Here’s an Easy Way to a New Start.

Have you been considering retirement or wondering to sell or buy a new practice? You must know that making this kind of a transition entails planning and sufficient time if you want to accomplish this effectively for your patients, staff and family. More so, it is even difficult for a physician to sell, start, purchase a practice or put it in transition.

In this session, expert speakers Debra Phairas and Gary Ware, both highly experienced in appraising numerous medical practices for all specialties, will assist you in learning creative strategies to help you accomplish your goals. The session will proceed discussing the options such as bringing in an associate, recruiting, selling the practice, buying a practice or closing the practice. Latest information on valuation methodology for selling, divorce or estate planning is also included in the session.

Training Objective:

  • It is important to sell the practice before discontinuing surgery or slowing down.
  • Methods of appraisal and value the practice
  • Techniques of equipment value
  • Value accounts to be received, equipment, leasehold improvement and supplies
  • Communication to patients: authorization to transfer records, list of other physicians.
  • Various legal duties and ethical duties towards patients at the time of retirement
  • What do you need to know regarding appraisal of Buy-in or sale of practice?
  • Finding a Buyer: What to advertise
  • Using practice broker or selling the practice
  • Evaluate your agent/broker/consultant
  • Is it necessary for associates to negotiate buy-in formula before accepting employment offer?
  • The process of merging and equalizing assets
  • Buying a practice vs. starting new
  • About salary and overhead guarantees in hospital support
  • What are the needs for disposal of controlled substances?
  • Retention/Ownership of Medical records – things your attorney/broker may not realize
  • Preparing for a new physicìan to take over practice


Who Should Attend Physicians, Managers and Hospital Administrators

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About Our Speaker

Debra Phairas and Gary Ware

Debra Phairas is President of Practice & Liability Consultants, LLC a nationally recognized firm specializing in practice management and malpractice prevention. Her background includes medical clinic administration and loss prevention management for NORCAL Mutual, a physician malpractice insurance carrier in Northern California.  Her BS is from Michigan State University and her graduate work at Golden Gate University, San Francisco MBA Health Services Administration program. Her consulting experience includes...   More Info
More Events By The Speaker

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