Medical Practice Management Books, Journals and Articles for Physicians, Practice Administrators and Doctors' Office Managers

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Succession Planning: It Is Not Too Early to Begin

Succession Planning: It Is Not Too Early to Begin

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Deborah R. Mathis, CPA, CHBC, and Michael S. Lewis, FACMPE, MBA
Once upon a time, physicians looked forward to the golden parachute that came from selling their practices upon retirement. Practice management consultants and other professionals assured their physician clients that when they retired there would be many suitors interested in buying their practice—other physicians, large groups, and hospital systems. However, the economics of medical practices have changed dramatically over the past 15 to 20 years, and physicians now find that unless they have
developed a succession plan, there may be no one interested in purchasing their practice.