Best Practices in Physician Transition Planning
Setting up for retirement or exiting your practice should be a smooth and easy transition. However, if the health of your practice has been neglected over the years, you may find it difficult to transfer your patient roaster to another physician.
If you are contemplating retirement, here are some best practices for you to consider.
- Operational Efficiencies: Ensuring that your practice is operating in an effective and cost-efficient manner is important. New prospective physicians don’t want to inherit a practice which is marred with organizational and operational inefficiencies.
- Lease Agreement: Ensure that your medical clinic lease agreement is set up for transfer and does not have any clauses which could hinder the new physician’s ability to take over your lease.
- Active Career Commitments: Partnership agreements that include a physician transition plan should be properly set up to enable a smooth transferal of patient rosters, support your departure and account for any obligations you may have to the group.
Cirrus Consulting Group has over 15 years of experience working with doctors and other primary care providers. We pride ourselves on understanding the complexities of your demanding careers. We help physicians by educating and implement best practices in retirement planning
Our goal is to “let doctors be doctors” by enabling you to spend your time doing what you do best – providing quality patient care, while we handle the operational and business side of the practice.
When you start considering retirement plans Cirrus can work with you to ensure your practice is:
- Operationally sustainable
- Financially healthy
- Effectively positioned for your work slow down