Category Archives: Buying/Selling a Practice

What Healthcare Practitioners Need To Know about S-Corps

In New York State, the only two (2) legal entities that are allowed for licensed healthcare professionals are professional service corporations (PC) or professional limited liability corporations, (PLLC). There can be some confusion on whether an “S-Corp” is a legal … Continue reading

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Attention Practitioners: Don’t Forget the Sales Tax When Purchasing a Practice

When a practitioner purchases a practice, they tend to purchase more than just the goodwill. If there is equipment, inventory, or supplies, there is a State Sales Tax that is required to be paid within a certain time period after … Continue reading

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Listen Live: WealthStyle For Medical and Dental Practitioners

Recently I was featured in WealthStyle Podcast‘s Q and A hosted by financial planner Iván Watanabe. Ivan works with medical and dental practitioners who are just graduating from fellowship or residency. He asked me about some of the issues that … Continue reading

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Commercial Leases and Buying a Practice

Many times when a practitioner purchases a practice, they are not just purchasing the goodwill and equipment — they may also be taking over the commercial lease. Staying in the same space is often advantageous because it makes it easier … Continue reading

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Ready to Buy a Practice? 3 Guidelines for Practitioners

Practitioners who are ready for the next phase of their career — or eager to hit the ground running — may consider purchasing an existing practice. If you are weighing that option, here are some questions and negotiable points to … Continue reading

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PC vs PLLC: Choosing Your Business Structure

In New York State, professionals who are licensed through the Department of Education can structure their businesses in two ways: as a professional corporation (PC) or a professional limited liability company (PLLC). Under New York Law, both structures provide identical … Continue reading

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Moving Your Healthcare Practice Forward in 2018

For physicians, dentists, and all healthcare practitioners, as 2017 comes to a close, it is time to think about the goals for your practice moving forward into 2018. Are you looking to take on new employees? Are you looking to … Continue reading

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An Informed Staff is Vital for a Smooth Practice Transition

Our previous two articles have explored what to do when you purchase a practice, including retaining patients and starting to make the practice your own.   Part 3 of this series explores an equally important, concurrent task: ensuring that your … Continue reading

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You Bought Your First Practice, Now What?

So, you have purchased a practice, and you are maintaining the patients that you have inherited. When you purchased the practice, you most likely were not involved in how the prior owner ran it. Now you want to make it … Continue reading

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When Buying a Practice, Change is Not in Your Best Interest

If you are a practitioner who just bought a practice, regardless of your specialty, the ultimate goal is to maintain the patients already in existence, as well as to drum up more business. We all know that patients have the … Continue reading

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