Succession planning is not easy or always pleasant, but when that physician is a partner in the practice; it poses more thorough forethought and preparation. This article looks at the following elements of this process such as; ownership, industry trends, legal advice, startups, accounting practices and advice, practice evaluation, operating agreements, records custody, and the eventual sale, and then retirement. After reading this article, the reader will become more informed to the in-depth process required to transfer ownership in his/her medical practice and the need to seek out professionals to assist in this process.
