Physicians come, physicians go – A buy-sell agreement can smooth the way

Description

Abstract: If yours is like most practices, you’ve seen physicians come and go. Older physicians retire, associates become partners and medical school graduates are recruited. When a physician becomes an owner or partner of the practice, contentious issues may arise regarding asset valuation, division of income and retention of control. This article explains how a buy-sell agreement can help minimize those disputes. A sidebar offers various laws and legal doctrines that should be considered when developing a buy-sell agreement.