Solo physicians or dentists have one of two primary mindsets when it comes to thinking about an exit strategy for their practice. Either they have not planned properly for their retirement, thinking that they would be able to sell their practice and live on the proceeds, or they think the practice has little, if any, resale value and, consequently, they choose to phase out of practice by gradually reducing the number of days they see patients until there truly is nothing left to sell.

If properly managed, almost any practice has a value and can be sold to another party. Finding the right buyer and negotiating the best terms and conditions for the seller is best handled by a professional firm that knows about practice transitions. While accountants and lawyers know how to crunch the numbers and prepare documents, they don't typically understand how to manage a practice - especially during a transition.

DoctorsManagement can help you get a fair market price and a smoother transition. We can help you decide what the right price is for the practice (click here to review our Practice Valuation section). In performing this service, we may be able to identify those steps that could be taken which would make the practice more valuable or more sellable. Occassionally, we have "fixed" the practice to the point that the doctor decided to to not sell at that time and stay.