Tips offered for finding buyer for medical practice

June 17, 2014
Tips offered for finding buyer for medical practice

(HealthDay)—Suggestions are provided for finding a buyer for a medical practice in an article published online June 10 in Medical Economics.

Keith Borglum, C.H.B.C., a practice management consultant based in Santa Rosa, Calif., offers tips and best practice suggestions for finding a buyer for a . He notes that although many have said they would rather be employed by a hospital than going into an independent practice, there are still many physicians with an interest in independent practice.

According to Borglum, tips that can increase the chances of finding a buyer for a practice include advertising frequently and widely, starting from at least a year prior to exit. Sellers should be prepared to sell on the day the first advertisement is placed. Practices should be priced realistically and checked with expert appraisal. A local search for candidates is a good option, including competitors. Finally, the lifestyle of private practice and community should be promoted to potential buyers and their partners.

"I have given up trying to figure out which practices will sell and which won't," Borglum writes. "It usually comes down to a candidate being available at the time the seller wishes to exit. It's also about location, and about timing."

Explore further: Medical staff performance goals should be clear, attainable

More information: More Information

Related Stories

Expanding scope of nurse practitioners practice discussed

October 3, 2013

(HealthDay)—Non-physician practitioners could ease the anticipated increased demand for physicians, but broadening their scope of practice is controversial, according to an article published Sept. 10 in Medical Economics.

Recommended for you

Exercise and vitamin D better together for heart health

April 27, 2017

Johns Hopkins researchers report that an analysis of survey responses and health records of more than 10,000 American adults for nearly 20 years suggests a "synergistic" link between exercise and good vitamin D levels in ...

'Diet' products can make you fat, study shows

April 25, 2017

High-fat foods are often the primary target when fighting obesity, but sugar-laden "diet" foods could be contributing to unwanted weight gain as well, according to a new study from the University of Georgia.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.