What are the steps to close a medical practice?
There are many steps required to close a medical practice. These steps include:
- Determine if you are selling your practice or closing it down
- Discuss your plans with your malpractice insurance provider
- Notify your staff of your intentions
- Notify your patients by mail that you are closing your medical practice
- Determine how your patients will be able to access their medical records after you’ve closed your medical practice
- Notify your payers and suppliers, including Medicaid and Medicare
- Address additional business concerns like real estate, medical supplies, office equipment, etc.