Sad to see when a physician practices closes without a transition strategy
Medical Practice Brokerage, Medical Practice Management, Medical Practice Merger Advice
Sep 28

Sad to see when a physician practices closes without a transition strategy

Here is a letter I ran across recently written by a pediatric physician. It’s sad to see when a doctor literally walks away from a practice he or she has built and maintained for many, many years. Such a waste to see when such a valuable asset is lost – so this should remind you to ask yourself “What is my transition strategy?” Please don’t walk away without at least getting something in monetary value for your physician medical practice.

After 24 years in practice, we are writing to sadly inform you that Pediatric Digestive Care of San Antonio, will be closing our doors. It has been a pleasure and an honor to have had the opportunity to help with care of your children. Unfortunately, with a11 the new government regulations and insurance restriction, we find ourselves spending more time dealing with paperwork than we are in taking care of patients. These obstacles, will continue to increase and adversely affect medical care. This is contrary to our oaths as physicians. Our purpose is to care for the patients, not for the needs of insurar1ce or government agencies.

Therefore, we will be retiring from the private practice of medicine on December 1, 2018. We will be available to serve your medical needs until that date. We still care deeply for the children in need, and likely will continue to practice medicine in a different setting.

It is very important that you make arrangements as soon as possible to select a new physician to make sure you receive uninterrupted medical care. Please contact your medical plan to obtain a list of physicians in the area who are eligible to become your physician. You can also contact the local medical society at (210) 301-4391 for a list of physicians and phone numbers.

Once you have selected a new physician, you will need to complete an authorization to release your medical records so that we can forward a copy of your records to your new physician. Unfortunately, your medical records cannot be released without a written authorization from you. For your convenience, we are enclosing with this letter an authorization form for you to complete and return to the office once you have selected a new physician. Assuming we receive your completed authorization form prior to our last day of practice, there wi11 not be a charge for copying your record. All authorization forms received after March 1, 2019 will be subject to a reasonable copying fee to cover the cost of duplication.

 

 

Thank you for having chosen us as your physicians. It has been our pleasure and honor to serve you. We wish you continued health and wellness.

 

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 →