Group Practice Structuring
Taking your practice from a one person practice to a multiple Doctor practice is a very complex transition. Not only must the practice be valued properly, the buy in arrangement must fair to both parties. As partners in a group practice, there is a “partnership mentality” that is significantly different from a single person practice. As the number of partners increases, the number of complexities increases as well. Our experience in valuation, developing a proper mental approach to practice and structuring the buy-in is what sets us apart from others in the field. At Veritas Transition Group, we use our proprietary software to develop a Proforma, which will explain the financial side to the buy-in, but also to the buy-out. It is relatively simple to structure an adequate buy-in. We spend as much time developing the buy-out for partners as we do on the buy-in aspects. The hallmark of our philosophy on group practices is that practice structure should be as simple as possible and the mechanics of the structure should be simple to understand.
Total understanding of the compensation structure and the financial and tax aspects of the buy-in and the buy-out are essential to success. Using our experience we are able to develop a timetable, which when used with our Proforma, will help create a path for continued success.