

Written by Alex L. Hayman, FACHE, CHHR
Steps to Selling Your Medical Practice Successfully
As a physician, you’ve worked hard to build your medical practice into an asset worthy of sale. Selling a practice is no easy feat, however, and can often be daunting. The transition process can be stressful and time-consuming if not done correctly. To ensure that the transition goes as smoothly as possible, there are several steps you should follow when considering selling your medical practice. Let’s take a look at what those steps are.
Preparing
The first step in preparing for the sale of your practice is to gather all relevant information about the business and its operations. This includes financial statements, leases, contracts, insurance policies, tax returns, and any other documents that may be pertinent to the sale. You will also want to collect patient and employee data such as their contact information, demographic info, appointment history, and insurance information. This data should all be organized in one place so that it is readily accessible to potential buyers.
Finding the Right Partner
Once you have gathered all necessary documents and data points about your medical practice, it’s time to start looking for potential partners. It’s important to remember that not all partners are created equal; you will want someone who is experienced in healthcare acquisitions as well as someone who shares your vision for continuing the success of your practice after the sale. A good partner should also be willing to negotiate on terms such as price or payment plans. Additionally, they should understand how important it is for patients and employees alike to experience minimal disruption during this transition period.
Negotiations
Once you have found a partner who meets these criteria, it’s time to begin negotiations around terms and options. In order to get a favorable deal for yourself (as well as your patients and employees), you will need to demonstrate why your medical practice is worth more than competitors in the area with similar services or offerings. Be sure to provide evidence such as financial statements or patient reviews that showcase why your practice stands out from others in the area when negotiating with potential buyers.
Transitioning a medical practice comes with its fair share of stressors; however, by following these steps—gathering relevant documents/data points about the business/operations; finding the 'right', experienced partner —you can ensure that the transition process runs smoothly from start-to-finish. Ready for next steps and the 'right' partner, contact partnership@southeastpcp.com!
More posts

Written by Southeast Primary Care Partners
Southeast Primary Care Partners Continues Alabama Expansion, Welcoming Keel & Associates
Primary Care-Focused Medical Group Continues to Improve Access to High-Quality Healthcare in the Southeast


Written by Eric Lisle, Chief Executive Officer, President, Co-founder
Healthcare in America: where we are, and where we’re going
The healthcare system in America is at a crossroads.

Written by Southeast Primary Care Partners
SPCP's Craig Worland Named to Atlanta Business Chronicle's 40 Under 40
We are thrilled to share that Southeast Primary Care Partners' COO, Craig Worland, has been named to the Atlanta Business Chronicle's 40 Under 40 List!

Written by Southeast Primary Care Partners
Southeast Primary Care Partners Continues Alabama Expansion, Welcoming Bear Creek Family Practice
Southeast Primary Care Partners, an Independent Primary Care Supergroup, Continues to Improve Access to Primary Care

Evaluation and Treatment of Low Back Pain in Adults
Evaluation and Treatment of Low Back Pain in Adults


Written by Eric Lisle, Chief Executive Officer, President, Co-founder
America’s Sick Care System: Why We’re Failing and How Independent Primary Care Can Save Us
It’s time to face the harsh truth about healthcare in the United States: our system is failing us.


Written by Eric Lisle, Chief Executive Officer, President, Co-founder
Enhancing Access to Primary Care in Rural Areas: Bridging the Healthcare Gap
Access to primary care is a fundamental aspect of a well-functioning healthcare system. For people living in rural areas, there can be significant challenges in finding and accessing primary care services. Geographical isolation, limited healthcare infrastructure, and a shortage of healthcare professionals are some of the key obstacles faced by those in rural communities. However, with innovative strategies and collaborative efforts, we can work towards improving access to primary care and bridging healthcare gaps in rural areas.


Written by Craig Worland, Chief Development Officer
Reflections on the JP Morgan Nashville Healthcare Leadership Summit
By prioritizing the needs of our primary care physicians and providing them with the support they need, we can attract and retain top talent, leading to better patient care and overall success.

The Future of Physician-Owned Groups in Value-Based Healthcare
Value-based reimbursement will be driven by physician-owned groups that represent true partnerships and integration of practice management with patient care.


Written by Alex L. Hayman, FACHE, CHHR
CEO Eric Lisle and CDO Craig Worland- Race to Value!
CEO Eric Lisle and CDO Craig Worland- Race to Value!

Staying Healthy in February: Tips from a Primary Care Physician
Are you struggling to stay healthy this February? Dr. David Hall, a primary care physician, shares his expert tips on how to beat the winter blues.

The Value and Values of the Primary Care Physician
As the healthcare system shifts towards a value-based model, the role of the primary care physician (PCP) has become increasingly important.


Written by Alex L. Hayman, FACHE, CHHR
The Benefits of Joining an Independent Medical Group
... it can be incredibly hard to keep up with the ever-changing landscape of healthcare. Staying up to date with policies, regulations, and technologies is a full-time job.


Written by Alex L. Hayman, FACHE, CHHR


Written by Alex L. Hayman, FACHE, CHHR
Keeping Up with Industry Changes in the Medical Field
As a medical practice owner, you need to stay up-to-date on industry news and trends that are impacting your profession.


Written by Alex L. Hayman, FACHE, CHHR
Breaking Free from Anxiety: A Guide to Taking Control
Anxiety can make you feel like you're trapped in your own mind, constantly worried and afraid. But don't worry, you're not alone in this battle!


Written by Alex L. Hayman, FACHE, CHHR
Southeast Medical Group- A Great Place to Serve!
Great Team, Great Company- Southeast Medical Group


Written by Alex L. Hayman, FACHE, CHHR
Challenges of Owning an Independent Physician Practice
Owning an independent physician practice comes with its own unique set of challenges.


Written by Alex L. Hayman, FACHE, CHHR
Cognitive Migraine Management: My Experience with Aphasia Migraine
My Experience with Aphasia Migraine