The second hardest thing to negotiate in a deal is the inserable (the first hardest?- contingencies; see below). Some sellers want a deposit, so that if the deal disintegrates, they keep the money to make up for their lost time and expenses. Deposits are the norm in real estate agreements, but less so for the purchase of a medical practice. In this article, I explain concept sheets for the purchase or sale of a medical practice. A terminology sheet is also called a Statement of Intent (LOI) and Statement of Intent (MOU). One of the first things to do is to ensure that everything agreed in the MOU will be included in the final agreement. Most concept cards are starting to indicate who will buy what from whom. The “what” is either the heritage of the practice of sales medicine or the sale of stocks of doctors in practice. I do not give legal advice on the amount of the purchase price; This is a task for exercise examiners. My work begins with the structuring of the payment of the purchase price. A buyer can pay the price with one or a combination of it: A common problem is electronic medical agreements.
When the health system implements an electronic registration system, it is very unlikely that it will accept a long-term obligation for another electronic registration system. At the same time, doctors certainly no longer want to pay out of pocket for an EMR system after the sale of the practice. I managed to convince EMR companies to terminate the contract at some point (after the transfer of the information to the hospital`s EMR) and I convinced the hospital to pay for the EMR during this period. But it is rarely a simple negotiation. Most sellers are bound by a competition contract for years within the geographical location of the medical practice. That`s the norm. Compensation provisions must be negotiated. Many health systems want unlimited compensation, an eternal “first dollar.” Your lawyer will try to limit the survival of these benefits (i.e. how long you are on the bait), limit the amount of compensation (at least to ensure that the compensation obligation does not exceed the purchase price) and insert a major provision to prevent the “nickel and diming” of the health care system (e.g.B. if it has developed that a few dollars of inventory were not available at the close, you do not need to shorten for a check of a few dollars). Various trade-offs are possible in this regard, from limiting the total amount of the compensation obligation to developing “baskets” of various potential liabilities, so that und discoveryed tax debts, for example, do not require repayment beyond the value of the underlying assets. (2) the financing of the seller, i.e.
the buyer pays all or part of the purchase price with a debt note that the buyer gives to the seller; and/or alliances that are not in competition are very likely to be included in the asset sale contract as well as in the employment contract. These alliances should be the same so that you do not accidentally accept a longer or geographically extended alliance in one of the documents. Developing a list of current expenses that the health care system is willing to accept can be a challenge.