According to the American Medical Association nearly 40% of doctors in the U.S. are aged 50 or older, and one in four are 65 or older. For many physicians, retirement is a fast-approaching reality.
One of the toughest challenges facing a small medical practice is succession planning. Physicians must negotiate their way through unique legal challenges specific to their profession.
A large practice group may have multiple owners and well established procedures for succession, but many small or solo practices do not have a clear direction or set pipeline of potential successors waiting to take over.
At MedGC we can provide the legal guidance necessary to make a good succession plan and at the same time ensure that your current patients continue to receive the care they expect.
Physicians typically have four options when making a succession plan.