I’ve started practices from scratch, have personally purchased four practices, and as a chiropractic practice management consultant, I also advise doctors who want to buy or sell a practice.
Buying a practice has always been controversial in our profession. Many doctors feel that it is not worth buying a practice because they cannot buy the loyalty of Dr. Old’s patients, nor can they capture his or her new patients.
Selling a practice is also controversial. What exactly is being sold? What is included in the sale of the practice?
Whether you find yourself in a position to buy or sell a practice, there are many considerations you need to take into account before you sign that agreement to buy or sell. Is the building included in the sale? What office supplies and equipment are included in the sale? What are the tax implications? How old is the practice? Why is the practice for sale? Etc., etc.
All of these questions can be answered, but not before a practice valuation is compiled and analyzed. I am happy to provide you with this practice valuation service. Please continue to "Practice Valuation Details" for more information.
Dr. Peter G. Fernandez, Founder