How Do I Negotiate The Sale Of My Medical Practice?
The market for buying and selling a medical practice is currently active, but that doesn’t mean that you will be guaranteed a good deal, especially if you fail to negotiate the terms of sale properly. Selling a medical practice is not an easy task, it involves careful planning and preparation to ensure that you have all bases covered. What most physicians fail to understand is that negotiating a sale can take up to 6 months or more if you are not clear about the terms of your contract. Having a basic understanding of how much your practice is worth by performing a practice valuation of your tangible and intangible assets (such as goodwill) and seeking professional help from a lawyer, accountant or medical practice brokers is a good place to start. However, there are a few more things to consider before negotiating the terms of your sale that could be the difference between getting the sale you want or settling for less than you expected.