Practice Transitions
Seamless Practice Transitions for Healthcare Professionals
At Morgan Advisory Group, we understand that transitioning your healthcare practice is a significant decision that requires careful planning. Our goal is to provide you with a smooth and successful transition process, ensuring that your practice continues to thrive under new ownership or partnership.
Expertise in Healthcare Practice Transitions
With extensive experience in healthcare transactions, we bring a deep understanding of the unique challenges and opportunities that come with practice transitions. Whether you’re looking to sell your practice, merge with another, or bring in new partners, our team provides legal support focused on your priorities.
Selling Your Practice
Selling your practice involves numerous legal, financial, and emotional considerations. We guide you through every step of the process, from evaluating your practice’s value to negotiating terms and finalizing the sale. Our aim is to maximize the value of your practice while ensuring a smooth transition for you and your staff.
Partnerships
Expanding your practice by bringing in new partners can provide additional expertise and resources. We assist you with structuring partnership agreements that protect your interests and foster a collaborative working relationship. Our goal is to help you build a strong, cohesive team that will drive your practice forward.
Strategic Advisory Services
Our role goes beyond legal and financial advice. As strategic advisors, we provide insights and recommendations that help you make informed decisions about your practice transition. We consider your long-term goals and work to create a transition plan that aligns with your vision for the future.
Comprehensive Support
From initial consultation to closing the deal, we are with you every step of the way. Our support includes:
- • Practice valuation and financial analysis
- • Marketing and finding potential buyers or partners
- • Negotiating terms and drafting agreements
- • Managing the transition process to ensure continuity of care
- • Post-transition support to address any ongoing issues
Ready to Transition Your Practice?
Take the first step towards a successful practice transition with Morgan Advisory Group. Schedule a consultation today and let us guide you through the process with confidence and expertise.
Frequently Asked Questions
A reasonable first step in acquiring your first clinic should be to gather information. Consider applying a rule of three to your research: interview three practice owners about their journey, skim three books on practice ownership, and network with three critical professionals, including attorneys, lenders, consultants, and certified public accountants. As a bonus, you may also want to insert this question into Google and skim through three pages of content, or – more expeditiously – ask ChatGPT for advice.
Preparation through information gathering is critical. This is the first step to ownership because it will provide confidence and a baseline of knowledge from which you can draw to ask the right questions of yourself and of a prospective seller.
The best way to reach us at Morgan Advisory Group is by scheduling a consultation. This allows us to allocate dedicated time to discuss your specific needs and provide tailored advice.
Our fees vary depending on the type and complexity of the services required. We provide a detailed fee structure during the initial consultation, whether you are searching for consulting service, corporate setups, transactional services, or more.
At Morgan Advisory Group, we believe in transparent and straightforward billing. Here’s how it works:
- Initial Consultation: During the initial consultation, we discuss your needs and provide an estimate of the costs involved.
- Engagement Agreement: Once you decide to proceed, we will provide an engagement agreement outlining the scope of services and associated fees.
- Billing Schedule: Depending on the nature of the service, we may require a retainer fee upfront, with the remaining balance billed upon completion of the service. For ongoing services, we may bill monthly or according to specific milestones.
- Payment Methods: We accept various payment methods, including bank transfers, credit cards, and checks.
We strive to ensure that our billing process is as clear and convenient as possible, allowing you to focus on your business or practice without unnecessary stress.
Partner with Morgan Advisory Group Today
Discover how Justin Morgan and Morgan Advisory Group can help your healthcare practice or business. Schedule a consultation today to benefit from Justin’s expertise and strategic approach, tailored to meet your business objectives.