Details to Consider When Selling Your Medical Practice
By W. Neal Carris, CPA
The demand for physician services is driven by population growth and demographic shifts. The profitability of a practice depends on a number of factors such as the reputation and expertise of the physician and staff, the practice location, staff operations and patients. The healthcare industry is challenged by increasing operational costs, high malpractice insurance premiums, difficulties with collection reimbursement rates and vulnerability to billing fraud. Despite these challenges, hospitals and healthcare networks remain optimistic and are interested in purchasing physician practices.
In July of 2015, Congress passed and President Obama signed a Highway Funding Bill that extended financing for transportation infrastructure. Section 2006 of that bill modifies the tax filing due dates for tax years beginning after December 31, 2015. The filing deadlines for a variety of entities, including partnerships and C corporations, will change.