We blog about things we learn in our work with practice owners and managers. We hope these articles help you.
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“If it ain’t broke,” maybe you still should fix it
This meme popped up on one of my feeds recently, and whenever it does, it makes me smile (and think). It's a picture of a horse tied to a lightweight plastic chair. The horse is standing patiently and obediently, presumably unaware that he could easily shake off the chair, break
Preparing to sell your practice? (Tip #2: Choose the right CPA)
Thinking of selling your practice sometime soon? Say, within the next few years? To maximize your negotiating position and smooth the process, I recommend you hire an accounting firm with medical practice experience. (By that I mean... experience with medical practices besides yours.) Perhaps you haven’t given much thought to
Preparing to sell your practice? (Tip #1: Get it into fighting shape)
If you're thinking about selling your medical practice sometime relatively soon—say, within the next few years—there's no time like the present to give your business a thorough evaluation. By digging into the details of operations and finance, you will: Be better able to describe your business to prospective buyers Have
Why PE buyers seem to pay so much more for medical practices
In recent years, private equity (PE) purchases and roll-ups of physician practices have gotten a lot of attention in the media and in physician circles, mainly because of the opportunity they represent for physician owners to sell their businesses for attractive prices. In fact, if you're in a market where
Careful ways to address a profit decline
Few things are more unnerving than realizing your business is less profitable than it once was—or than you counted on. The instinct to take immediate action is understandable. If you’re a physician, responding quickly to urgent situations is second nature. And after all, if your profit is suddenly on a
Embrace professionalism for a stronger practice business
I had an inspiring conversation with a young physician recently. He is looking forward to one day owning a practice. He envisions himself establishing a practice ethos that encourages colleagueship and respects physician excellence. “Expert culture,” he says, is the key to physician engagement and avoiding burnout. His passion was