Monday, December 16, 2013

Selling the Medical Practice: Five Steps to Get Your Buyer to Say ‘Yes’

Selling a Medical Practice
Selling a medical practice certainly belongs in the age-old category of “easier said than done.” To begin with, much controversy surrounds the question of how to set a price. And in the end, it can be quite difficult to get your prospective buyer finally to sign on the dotted line. More than one retiring or departing physician has experienced the frustration of having a very interested buyer who can’t seem to seal the deal.

Experts in practice transition say that faulty reasoning on the part of the potential buyer often scuttles a deal. For that reason, you can increase your chances of closing a deal with an interested party if you take it upon yourself to educate potential buyers.

Wednesday, December 11, 2013

Reduce Liability Risk When Treating Elderly Patients

In addition to the risks common among almost all patients, certain populations bring their own sets of potential hazards to your office. Pediatric patients, patients with physical and mental disabilities, and patients with limited English proficiency bring some liability pitfalls unique to each group.

Elderly patients represent another group—a rapidly growing group—with a few extra challenges. Being sensitive to the needs of elderly patients, and adjusting your practice style to accommodate those needs will help keep you out of legal hot water. At the same time, you’ll provide better care for seniors who visit your practice.