Protecting Goodwill During Healthcare Practice Transitions
Selling your practice can be stressful for both your patients and staff. Although it is exciting to take the next step in your professional life, it is also easy to underestimate the strength of the bond your patients and office team may feel towards you.
Before your departure, take measures to reassure your patients and staff. This helps to preserve goodwill and ensure the ongoing success of your healthcare practice. It is important to mail a transition announcement two to three months before you leave the practice. The following important steps may help keep patients in the practice:
- Plan a “meet and greet” event at the practice for patients and staff to get to know the buying practitioner before he or she comes on board. The face-to-face interaction may help patients feel more relaxed with the new doctor and may help assure them that their care will continue to be in good hands.
- For a couple of months before your departure, have the new doctor work alongside you by performing routine examinations and scheduling follow-up appointments. This will allow patients to get accustomed to the idea of working with someone new in your office.
- Introduce all staff members to the buying doctor as soon as possible. This will help the staff feel comfortable and confident as valued members of the transition team. Existing staff members are vital links to the success of the transition and retention of current patients.
Clearly, a successful transition requires full transparency with staff and open communications with your team and patients. Following these guidelines may help make the process run smoothly and ensure a positive transition for everyone.
The team at LenDRgroup Consulting cares about the long-term success of your practice. No matter if you are in need of healthcare practice financing or business consulting, we are able to craft a customized plan to fit the unique needs of not only your practice, but also your career. We bring a lending platform of 300+ dental and healthcare-specific lenders, and we built this network with the purpose of helping dentists, veterinarians, and physicians. We want you to achieve your dreams of practice ownership while eliminating the obstacles associated with practice financing.
To date, we have helped hundreds of medical professionals expand and grow their practices. LenDRgroup Consulting recognizes and understands the needs of your business and can provide guidance to help avoid costly mistakes. So, let’s get started. Contact us today to schedule a one-on-one consultation.