Selling your healthcare practice isn’t like selling a car, or even selling a house. This is your life’s work and you’ve spent years devoted to building it up. But it always comes to a point where you’re wanting to retire. Crossroads Healthcare Transitions is here to help make selling your practice as smooth as possible.
Call Crossroads Healthcare Transitions
The first step is what we call a discovery phone call. For each of our clients, we develop a customized plan to move forward with selling their practice. We’ll let you know the options that are out there so we can help you to pick a path to follow. The decision doesn’t fully lay on your shoulders. We’ll talk with you and help you determine the right option for your specific situation.
Get a Practice Appraisal
This step is essential to determine whether now is the right time to sell. You may find that you want to wait a bit longer for the ideal time to get the most money. We use a variety of appraisal methods to discover how much your practice is worth. Our sister company, Crossroads Tax Advisors, will be on hand to assist you with the numbers throughout the process of the practice appraisal.
Developing a Prospectus
A prospectus brings together all of the information that potential buyers will want to know about your practice. This information includes a summary of the practice and its background, three years of adjusted tax returns, and more. Buyers will only be able to see this document once they’ve signed a privacy agreement. We want to make sure your privacy and information are protected.
Our mission also involves making sure only the best buyers are considered for this process. Their credentials and licensure will have to be thoroughly screened to ensure they’re legitimate. We’ll confidentially advertise your practice on a national basis. The most qualified buyers from across the country will be able to inquire about purchasing your practice.
Scheduling a Showing
Potential buyers will be screened to assure that they meet your requirements and are pre-approved by a financial institution. If these criteria are met, we’ll schedule an in-person showing of your practice during off-hours. The seller is not present at the showing and is between the broker and the buyer.
As your broker, we’ll be there to make sure that they’re a suitable fit for who you want to pass the practice onto. The buyer will get to know the details of your practice and get a feel for the space and atmosphere. The broker will let you know what they’ve learned about the buyer and we work with you to determine if they’re the right choice to buy your practice.
Start the Process to Sell Your Practice
If you’re ready to get started, call us or schedule a call with one of our experienced employees. We’re ready to help you take the next step!