Senior Counsel Laura F. James authored the article titled, “5 things to do before putting your medical practice up for sale,” featured on the Dallas Business Journal. James highlights the importance of keeping accurate and comprehensive financial statements and having contracts – such as employment, lease and equipment agreements, among others – current and in position to be assigned easily to a new practice owner. She encourages those looking to sell or merge their medical practices to hire outside legal counsel, brokers and accountants before the process begins. The resources provided by these external professionals can help ensure a smooth transition. And, James reminds medical professionals, “because the very nature of the provision of health care is a personal service, all medical practices will require succession planning at some point,” making planning today for tomorrow all the more important.
The article can be viewed on the Dallas Business Journal’s website by clicking here.