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Succession planning for solo and group practices

Whether you are a solo practicing physician or a member in a larger group practice, it's wise to begin thinking about your business succession plan. With advanced planning, you can come to a financially beneficial conclusion and ease the transition of ownership. Solo physician practices Individual physicians must pursue the future of their practice with intensity and thoughtfulness. The good news is that the extra effort can have a direct effect on the financial rewards of succession planning. Predictably, the aggregate compensation for services and sales price increases with the amount of time and effort devoted to this task.