Moderator ventana Posted April 19, 2011 Moderator Share Posted April 19, 2011 Looking at buying into an established practice (two owners)- buying out a minority shareholder (40%) of an established out patient practice for primary care. Reaching out to everone on this board (with experience please) for what questions I should be addressing with the doc that will be co-owner with me. What do I need to address? on my list already my hours per week my pay who is the managing partner? (the doc actually is not in this office as all and I would be buying the managing partners stock - and possilby the "managing" job) my benefits package these are pretty much the stuff you get for any job - BUT what else do I ask as an -co-owner obviously I have to have an MD PIN to bill and no desire to hire a doc so this seems to be a great option - but how do I protect myself from the doc having majority share and the MD? solutions to date profit is paid out by % of stock owned no expenditures over $2k can be made with out approval of both owners I will be paid at the 90% on the AAPA data for internal medicine (110-120 salary) No sale of either of our stock with out the other being offered right of first refusal If I can be managing partner I will draw an additional salary for this how do i protect myself from the doc just deciding to up and move or close the practice? Can I? do I just put a time frame on it? Link to comment Share on other sites More sharing options...
jmj11 Posted April 20, 2011 Share Posted April 20, 2011 Looking at buying into an established practice (two owners)- buying out a minority shareholder (40%) of an established out patient practice for primary care. Reaching out to everone on this board (with experience please) for what questions I should be addressing with the doc that will be co-owner with me. What do I need to address? on my list already my hours per week my pay who is the managing partner? (the doc actually is not in this office as all and I would be buying the managing partners stock - and possilby the "managing" job) my benefits package these are pretty much the stuff you get for any job - BUT what else do I ask as an -co-owner obviously I have to have an MD PIN to bill and no desire to hire a doc so this seems to be a great option - but how do I protect myself from the doc having majority share and the MD? solutions to date profit is paid out by % of stock owned no expenditures over $2k can be made with out approval of both owners I will be paid at the 90% on the AAPA data for internal medicine (110-120 salary) No sale of either of our stock with out the other being offered right of first refusal If I can be managing partner I will draw an additional salary for this how do i protect myself from the doc just deciding to up and move or close the practice? Can I? do I just put a time frame on it? What is the corporate structure? Mixed-PLLC? Partnership? Can you make a requirement that if either party wants out that they must sell their share to an equal (MD or PA) member/partner and the sale must be agreed upon by both parties? This would be a tough clause that many partners may not want to agree to. Link to comment Share on other sites More sharing options...
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