Selling a Medical Practice
Medical Practice Sales Attorney
Are You Thinking About Selling Your Medical Practice? Consider these recommendations from our medical practice sales attorney.
Usually the sellers of medical practices, contact a broker/agent first to receive some general information, to receive an informal appraisal, or to learn about the broker’s services and fees. First and foremost, I highly recommend that you first find, choose, and at the very least consult with a medical practice sales attorney who is experienced in these types of transactions and contracts before you take any steps or contact anyone else for selling your medical practice.
How Could Federal & State Statutes Be Triggered in Medical Practice Sales
Keep in mind that in the vast majority of transactions for selling medical practices, the Seller commits to remain an employee of the Buyer for a transition period and the Closing for selling your practice does not mark the end of your compliance with these various statutes. The Buyer may also want to use your credentialing or your entity’s credentialing with various insurance companies after the Closing but before the Buyer has obtained its own credentialing, which could trigger one of these statutes if the bills and communications with the insurance companies are not properly handled.
Kamkari Law’s medical practice sales attorney is experienced in transactions for selling medical offices and can fully represent you to maximize your selling price and legal protections and avoid or minimize legal your liabilities post-closing to remain compliant with various Federal and State Statutes such as False Claims Act, Anti-Kickback Statutes, and Stark Law.
The Benefits of Legal Representation by an Experienced Medical Contract Attorney
In a previous article, I mentioned the importance of choosing an experienced medical contract attorney who is experienced in transactions for selling and buying medical practices. These transactions pose challenges that require an attorney that is well versed in healthcare and business laws as well as being a skilled negotiator.
Selling your medical practice has unique aspects that are different than selling general businesses that average business transactional lawyers may not encounter or even consider in their deals. An experienced medical practice sales attorney could make the difference not only in protecting your rights and interests but also in your bottom-line, whether directly in negotiating the purchase price or in tax benefits which could be in tens of thousands of dollars.
Without belaboring the issue, as a medical contract attorney, I will not earn a commission for selling your medical office based on the purchase price and can offer you independent advice without any conflicts of interest.
Attorneys are highly regulated by their State Bar and there are many safeguards in place to make sure that attorneys act in the best of interest of their clients, a safeguard that does not exist for many other professionals involved in your transaction for selling your medical office.
The added benefit of retaining an experienced medical practice sales attorney is that they can also review and represent you regarding the contract that the broker or agent is most likely require you to sign before they spend any effort in selling your practice; these listing contracts are designed to benefit and protect the brokers in their dealings with you and one of the benefits of retaining Kamkari Law as your attorney before contacting a broker is that I can help you negotiate the contract between you and the broker before you bind yourself to a contract that will put you at their mercy.
Kamkari Healthcare Law
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Medical Practice sales lawyers and attorney
Medical Contract Lawyers