Buying a Medical Practice
Medical Contract Attorney
Are You Considering Buying a Medical Practice? Tips and Information by our Medical Practice Attorneys for Buying Medical Offices.
The obvious initial considerations in buying a medical practice may be the purchase price and the location of the practice that you will purchase. However, you should also consider some factors that may be less obvious. The trajectory of the gross revenues that were generated and collected in the recent years, the patient retention rate, the employee retention rate, and the potential future growth or lack thereof are some additional issues that you should consider as a buyer of a medical practice. Our top Medical Practice Lawyers and Medical Practice Sales attorney know the ins and outs of the transactions for purchasing a medical practice and can negotiate on your behalf, so you do not run afoul of healthcare statutes that may be implicated and to negotiate the best possible contract and deal for you
Protection Against Past Liabilities for Medical Practice Buyers
Protection against past and future liabilities is a much more important consideration for the buyers than the sellers in transactions for buying medical practices. If your transaction is not properly structured, a buyer may realize too late that there are judgments, lawsuits, and liabilities that occurred when the seller owned the practice for which the buyer may become liable. Therefore, your transaction should be structured so that the Closing date becomes the cutoff date for past liabilities. Also, thorough due diligence of medical practices should be conducted so that potential liabilities are flagged and dealt with prior to the Closing.
Buyers should also be aware of substantial tax consequences (and how to best avoid or reduce them) that could result from the allocation of the purchase price. Negotiating the purchase price is only the beginning of negotiations, not the end. A buyer or an attorney that is not experienced in these types of deals could make mistakes that could result in substantial tax consequences. Aside from the financial and legal benefits that you gain from retaining our experienced medical practice attorneys, my experiences and knowledge could make the difference between putting your practice on a path to success or failure.
A. Shane Kamkari, Esq.
Kamkari Law – Healthcare Attorney