Selling Your Medical Practice

Maximize the Value of Your Medical Practice with Cynergy CSI — Expert Guidance for Physicians Selling Their Practice

Are you a dedicated healthcare provider considering selling your medical practice? You’ve come to the right place. Cynergy Consulting, your trusted partner with over 40 years of experience, has successfully transitioned over 2000 medical practices, ensuring profitable sales and seamless transitions.

Getting Ready to Sell Your Practice

You’ve worked hard to build your practice, and now it’s time to reap the rewards. At Cynergy Consulting, we specialize in helping dedicated physicians like you transition smoothly and profitably. From valuation to transition, we help you realize the full potential of your medical practice while safeguarding your legacy.

Unlock Hidden Value in Your Practice

Did you know there are strategic steps you can take to significantly enhance your practice’s value before listing it for sale? Many physicians miss out on these opportunities. At Cynergy Consulting, we’ll help you maximize your equity, ensuring you get the best return on your investment.

Our comprehensive Intermediary Services include practice transition planning and sale strategies designed to convert your hard-earned equity into liquidity for retirement or reinvestment. Many physicians choose to remain with their practice post-sale under negotiated employment agreements, maintaining continuity for both their staff and patients.

Prepare Your Exit Strategy Today

If you’re over 55, it’s time to develop a strategy to ensure your practice reaches its full value before you wind down. With our expert guidance, you’ll be well-positioned to transition smoothly while safeguarding your legacy.

Let Cynergy Consulting’s nationwide expertise—built on facilitating hundreds of successful practice sales—work for you.

Phases of Selling Your Medical Practice

Initial Consultation: Understand the physician’s goals and needs.

Valuation: Comprehensive evaluation of the practice’s financial and operational value. Not sure how to get started? Try out our free Medical Practice Valuation Calculator.

Preparation: Enhance the practice’s value through strategic improvements.

Listing and Marketing: Targeted outreach to qualified buyers.

Negotiations: Secure favorable terms for the seller, including potential post-sale employment agreements.

Closing and Transition: Facilitate the legal, financial, and operational handover.

Seller FAQs

What kind of legal considerations should I be aware of when selling my practice?

It’s important to ensure all aspects of your practice comply with laws and regulations, including HIPAA and other healthcare-specific rules. Additionally, the sale itself will require legal agreements like a purchase and sale agreement, so legal counsel is necessary.

How do I manage my staff's concerns about the sale?

It’s important to communicate openly and honestly with your staff about the sale, while also respecting the confidential nature of the process. Assure them that their welfare is being considered during negotiations.

Should I sell the assets of the practice or the stock of the practice?

The decision between selling assets or stocks depends on various factors including tax implications, legal liability, and the specifics of your practice. A financial advisor or attorney can help you decide which option is best for your situation.

How can I increase the value of my practice

In our experience if you can stay on board for the transition. Ideally, we recommend 1-5 years. The longer you stay the more value you add to the practice.

What documents will I need to prepare for the sale?

You’ll need to provide financial statements, tax returns, and operational data. Other important documents include legal paperwork like your practice’s incorporation documents, licenses, and permits, and any contracts or leases. Learn more about the medical practice valuation process here.

How long does it take to sell a medical practice?

The timeline varies based on market conditions, the nature of the practice, and the specifics of the deal. Generally, it can take anywhere from 6 months to over a year. It’s important to partner with an expert in medical practice brokerage.

When should I start planning to sell my practice?

Ideally, you should start planning to sell your practice a few years in advance. This allows you to optimize operations, maximize profitability, and address any potential issues before they can impact the sale. Typically providers begin to plan approximately 5 years before starting the process.

How do I value my medical practice?

The value is a combination of both the tangible and intangible asset value. Some methods that may be used to determine this include the income approach, market approach and asset based approach. Not sure how to get started? Try our free Medical Practice Valuation Calculator.