This lecture presents the purpose, methods and implementation of extending co-ownership in a practice to an associate doctor. It describes what it means to be a partner and further includes the valuation, compensation and legal factors involved in the development of the development of the buy-in and pay-out structure.
Learning Objectives:
At the conclusion of this presentation, participants should be able to:
Explain the attributes and factors from the basis of offering partnership to an associate doctor.
Describe the elements of practice value that are transferred in a buy-in as well as key compensation, governance and operational rights and duties that form the core of a partnership.
Analyze what buy-out rights and duties must be observed when an owner departs the practice, including valuation components, and the critical post-departure covenants/restrictions on competitive practice.