Time to Sell? Guide to Selling a Physician Practice: Value, Options, Alternatives
Softcover: 110 pages
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This book is about how to thrive by selling - or not selling - to a hospital.
As reimbursements fall and costs and complexities soar, what physician hasn't considered getting out of the business?
Now, veteran practice consultant Randy Bauman helps physicians and practice managers 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. From this reality check, Bauman then walks readers through options for not selling, including ways to make the existing practice more profitable, efficient and satisfying. Some of its features include:
Real-world business perspective, direct talk and honest, down-to-earth material physicians can use immediately.
Practical coaching. Bauman simplifies complex concepts like discounted cash flow and uses his years of practice management expertise to coach physicians through everything from setting a price to legal formalities.
Action tools at the end of each chapter include takeaway points, worksheets and checklists save time and eliminate guesswork in working through each step of the process.
The topics that are fully explored include:
Why Sell? What selling will and won't solve; evaluating what you gain and lose (both good and bad).
Preparing for Sale, optimizing your curb appeal and eliminating weaknesses in physician income and financial performance.
Choosing the Right Hospital Partner - How to drive out the truth about financial stability, freedom, culture and other factors before you sell.
Valuation What is Your Practice Worth? Calculating and maximizing both tangible and intangible value from the hospital s perspective.
Deal Structure - How to draw up a contract that covers all the bases on assets, employees, and your own income.
Negotiating - How to marshal the right advisors and get from initial offer to deal close with the best possible terms.
Operational and Post-Sale Issues - How to ease the transition of payer credentialing, billing, payroll, accounting and other functions.
Options Other Than Selling - Leasing, MSOs, and four other options that can help you stay independent while enjoying higher income and satisfaction.
Randy Bauman is President of Delta Health Care, a Nashville-based consulting firm specializing in the business of physician practice. Randy draws on more than 20 years of experience working with both physician and hospital clients on strategic planning, mergers and acquisitions, group formations, compensation planning, operations, and practice valuations. He is a noted writer and speaker in the health care community.
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