Physicians Practice May 26, 2022
Don’t wait until it’s too late to start planning for practice succession.
Succession planning is essential for private practice owners, especially since ownership transition can be necessary at a moment’s notice due to unforeseen events such as illness, death or retirement. Unfortunately, many physicians have not contemplated succession planning or do not have a comprehensive succession plan in place. This widespread lack of succession planning can lead to major obstacles for both private practice owners and the continuity of care for patients. An increasing number of physician owners are expected to retire within the next decade, which will create an extremely competitive market for medical practices looking to sell to new owners. Private practice owners who want to secure the...
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