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Medicine & Business

How to divide the practice pie

As the pie shrinks or stays the same, it becomes more important to implement a fair and reasonable net income division formula. While most practices can accomplish that, others cannot, which can lead to practice split-ups, partners leaving and buy-in deals not coming to fruition.

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Insolvency and business valuation

The valuation process involves making assumptions about an entity’s financial future which are of necessity different from its financial past. Thus, a rigorous analysis of those assumptions is requisite to a thorough understanding of the reliability of the conclusion of value.

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Use and abuse of modifiers

Modifiers are an essential part of coding and can not only cause delays and denials in reimbursement, but can also be considered abuse by some carriers. It is imperative that these modifiers are understood and correctly appended to the service and procedure codes.

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Physician demographics and turnover rates

Compensation and a desirable work schedule are typically discussed in great detail during recruitment. But a practice’s ability to clearly assess cultural fit and family needs is becoming even more important in determining if a physician will stay beyond those critical first three years with the practice.

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What is my practice worth?

Let’s explore what influences the answer to this question so that the next time your partner, a prospective partner, a prospective buyer, the IRS, or a disgruntled spouse asks the question, you’ll be better able to respond.

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