$99 -Practice Transition Preparation: Due Diligence Guidelines For A Buyer and a Seller

Comparing Practice Options

• Identify your vision
• Identify your needs
• Identify your ideal practice
• Acquisition
• Associateship
• Start-Up

Financing -- Getting Prepared & What To Expect

• Credit score and credit check
• Co-signer
• Personally guarantee the debt
• Usable personal savings
• Secondary source of income, potentially
• Loan request
• Insurance -- Life & disability
• Personal financial statement will be needed
• Documents needed if purchasing
• Documents needed if starting up

Transitioning Into Ownership-- How To Become The Business Owner

• Telling the team and patients
• Lease vs building ownership
• Vendors needed
• Hiring the team & retention methods
• NPI numbers needed
• Software licenses
• Business and personal insurance need changes
• Payroll
• 3rd party financing
• Internal policies
• Marketing plan
• Insurance credentialing
• Maintaining finances, bookkeeping, accounting, tax needs
• On-going legal needs