Selling your doctor`s office is a big decision on your part. This is a major transaction that requires your attention and the participation of an experienced medical lawyer. One of the first things you need to do is to ensure that everything that has been agreed in the memorandum of understanding is in the final agreement. Compensation rules must be negotiated. Many health systems want unlimited and permanent compensation for the “first dollar”. Your lawyer will endeavor to limit the maintenance of these indemnities (i.e. how long you stay on the hook), limit the amount of compensation (at least to ensure that the indemnification obligation does not exceed the purchase price), and insert a service provision to prevent “nickel and diming” from the healthcare system (for example.B. If it turns out that stocks worth a few dollars were not available at closing, you won`t need to cut out a check for a few dollars). Several trade-offs are possible in this regard, from limiting the total amount of the compensation obligation to developing “baskets” of different potential liabilities, so that an undrafted tax pledge right, for example, does not require repayment in excess of the value of the underlying fixed assets. Agreements on electronic medical records are a common problem. If the health system implements an electronic registration system, it is very unlikely that it will want to accept the assignment of a long-term obligation for another electronic registration system. At the same time, after the sale of the practice, doctors certainly do not want to continue paying out of pocket for an EMR system. I managed to convince the EMR companies to terminate the agreement at some point (after the information was transferred to the hospital`s EMR) and convince the hospital to pay the EMR during this period.
It is rarely a simple negotiation. Developing a list of current expenses that the health system is willing to accept can be a challenge. In addition, the list of excluded assets (which retains the practice) and excluded liabilities (liabilities that the hospital does not assume) can be the subject of important negotiations. Perhaps you are also interested in my contributions on negotiating employment contracts at the doctor`s office, declarations of intent, selling your medical practice and medical remuneration after the sale of a doctor`s office. . . .