Protect your practice – Use a buy-sell agreement to minimize disputes

Description

Abstract: In the wake of health care reform, practices may be flooded with new patients, so it may be advisable to hire one or more physicians to help with the workload. If so, and if these physicians intend to take an ownership share of the practice, it’s important to make sure each one signs a buy-sell agreement. Why? Because it can protect a practice from disgruntled physicians and minimize disputes should they arise. This article addresses such issues as defining and appraising the practice’s assets, dividing practice income among partners, practice control issues and other considerations.