by Randy Bauman
What physician hasn't considered, "getting out of the business"?
The market for physician practices selling to hospitals continues to change. Driven by the risks and uncertainty of private practice coupled with ongoing change from healthcare reform, physicians and hospitals continue to join together at a rate not seen since the 1990's. The chance to leave the complexity, business risks and stagnant economics of private practice for the perceived security of a larger organization can be attractive, but selling isn't always a slam-dunk solution.
This audio conference, directed at the physician and the administrator or practice manager, examines this trend, the process of selling and...The alternatives to selling.
While physician practice sales were popular in the 1990's, what is different this time around? Understanding the sales process including practice valuations, negotiating strategies, along with the dos, don'ts, and pitfalls of selling out, will help participants decide if now is time to explore this option.
For the administrators working in practices that are likely to be acquired by hospitals, this is an important audio conference to understand what might be ahead for your own practice. Topics including operational and post-sale issues are crucial for the administrator, office manager or physician executive.
Devote 90-minutes and hear Randy Bauman on the following:
- The current state of the physician practice sales marketplace
- Why physicians sell their practices
- Should you sell? Is this the right time for you?
- What should practices look for in a potential hospital partner?
- How competition in some markets is heating up and how this will impact your sale
- How hospitals are reevaluating policies on " "no goodwill" " and intangible assets valuation methods
- How healthcare reform and the resulting push toward new payment models and Accountable Care Organizations (ACOs) are affecting practice sales
- Steps practices should take to prepare for potential sale and maximize their value
- Practice valuation fundamentals -- what is your practice worth and how market dynamics are affecting what hospitals are willing to pay.
- Commentary on how practices are being valued, including current controversy in the marketplace.
- What should they expect during the sales process?
- Negotiating strategies -- what is important and what isn't
- Compensation structuring and how Federal investigations and well-publicized settlements may have an impact on your deal
- How models of integrated hospital/physician networks continue to evolve and how these " "intermediate" " models may be viable alternatives to an outright sale.
- Post-sale issues you should watch out for
- And.are there alternatives to selling?
Randy R. Bauman is president of Delta Health Care, based in Nashville, and the author of the totally updated and expanded, book from Greenbranch Publishing, Time to Sell? Guide to Selling a Physician Practice: Value, Options, Alternatives. With more than 25 years experience in the healthcare industry, Randy Bauman has advised physician groups and hospitals on the business of physician practice, including all aspects of physician/hospital integration, physician acquisition and employment, hospital network development, practice mergers and acquisitions, group formations, strategic planning, physician compensation, governance, and practice valuations.
Randy joined Delta in 1993 and developed models and methods used in the creation of the firm's successful integration models. Prior to joining Delta, Randy was a managing director with Chicago-based LINC Group and a management consultant for Control Data Corporation. He started his career as a CPA with KPMG.
Randy received his bachelor of science in finance and accounting from Minnesota State University. He is a frequent speaker -- including at Medical Group Management Association (MGMA) and Healthcare Financial Management Association (HFMA) chapters -- and is a sought-out speaker on a diverse range of topics in healthcare.