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

MGMA Survey Reveals Retirement Notice Trends in Physician Group Practices

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 the Author

Reed Tinsley CPA

This article is written by Reed Tinsley, a Houston, TX-based CPA with over 30 years of experience advising physicians and medical practices across Texas and the United States. Reed holds certifications as a Certified Valuation Analyst (CVA), Certified Healthcare Business Consultant (CHBC), and Certified Financial Planner (CFP), specializing exclusively in the healthcare sector. He is a published author, nationally recognized speaker, and trusted advisor to physicians on accounting & tax, practice management, and financial planning. Schedule a Free Consultation.