This is a Practice Management Day Pass Session.

Handouts

P813 Handout.pdf (153.6 kB)

The speaker will explain how to obtain a fair and reasonable deal when selling or buying a practice. The session will examine the financial, legal, tax, operational and negotiating issues of the transaction from the perspectives of sellers and buyers.

1. Identify the elements of practice value and how a purchase price is negotiated and determined;
2. Evaluate the critical legal elements of buy-sell agreements, including: (i)assets included and excluded; (ii)allocation of the purchase price for tax purposes; (iii) office real estate sale or lease; (iv) seller's post-sale work for the buyer; (v) representations and warranties by sellers and buyers; and (vi) indemnifications needed to protect the parties from future liabilities in the practice; and
3. Define the components of the sale/purchase process from an operations perspective, including: (i) assembling your advisory team; (ii) practice information, reports and disclosures needed to complete a transaction; (iii) negotiating the offer to sell or buy; (iv) structuring ways for the seller to transition practice referral sources and intangible values; and (v) getting the buyer established, credentialed and acclimated to take over the practice.