Unlike a traditional practice, a concierge medical practice can have substantial monetary value. Specialdocs Consultants has launched a new program for succession and retirement to help its clients tap into the equity they’ve built as well-respected concierge physicians in the community.
The Specialdocs Pathway to a Successful Retirement program establishes sound strategies to monetize a client’s concierge medical practice and help them look forward to post-practice years with a comfortable, consistent cash flow. Tailored to each physician’s individual needs and desires, Specialdocs offers a seamless, trouble-free retirement planning experience, with continuity of care for patients and a thriving practice for successors.
The Pathway retirement program is uniquely structured to account for the variables that can impact success, including:
- Individual practice profile
- Identifying the right successor
- Access to guidance on wealth management and tax implications
- Review of financing, legal and regulatory issues
- Detailed communication plan to ensure high patient retention rate
- Post-transition support for successor
Says J. Patrick Tokarz, MD, who retired from practicing medicine at Northern Virginia Family Practice in 2015: “Specialdocs created a succession plan for me and my practice partners that succeeded on every level. They recognized the strength of our practice culture and identified a physician who was an ideal fit. At the same time, we worked together to introduce this doctor in the right way and at the right time to our patients. As a result, almost 90% of my patients stayed with the practice when I retired.”
Are you interested in learning more about how Specialdocs works with physician-clients to make the change to a successful concierge practice now, and plan for the future? Contact us at info@specialdocs.com and follow us on LinkedIn, Twitter or Facebook. We would love to hear from you!