Medical Practice Management
Aug 29

Most groups require notice of physician retirement, but how much notice varies

Nearly two-thirds of group practices that responded to a recent MGMA Information Exchange require physicians to give either six months’ (37.4 percent of respondents) or one year’s notice (31.3 percent of respondents) of retirement. The rest of the groups either don’t require advance notice (10.4 percent of respondents) or require two years’ notice (7 percent of respondents).

Some 129 groups participated in the informal questionnaire, “Physicians – Retirement and Succession Planning.

The MGMA Information Exchanges depend on voluntary participation and may not be representative of the industry. Readers are urged to review the entire questionnaire report when making conclusions regarding trends or other observations.

Purchase “Physicians — Retirement and Succession Planning.

In the MGMA Knowledge Center, search the Article Archive under “physician transition.”

By the MGMA Government Affairs Department

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →