Succession Planning

Thinking through what will happen to your practice when you take a planned retirement (or an unplanned absence from the practice) should be part of your overall strategic and contingency planning.

It's a difficult paradox to accept, but your most successful growth and development efforts can actually make your practice less marketable (less affordable by a successor physician, or more dependent on your unique energies and skills.)

Traditionally, succession planning has involved building a larger base of partner-track providers, whose ages are staged such that the burden of buying out each successive retiree is minimized.

In today's more complex world, succession planning can include an evaluation of competing corporate bids...even to the point of hiring an investment banker to quarterback the brokerage process.