Establishing and then operating a successful ambulatory surgery center is no mean feat. With the demands of day-to-day operations, it can be easy to overlook a viable physician succession plan.
Here are six questions for ASC physician leaders to ask when creating a succession plan, said Arthur E. Casey, CASC, senior vice president of business development for Outpatient Healthcare Strategies, in a recent Becker's ASC Review article.
• How much notice is required before retirement?
• How will the divestiture of ownership from a retiring physician be funded and over what length of time?
• Where will capital to repurchase shares come from? Operating cash? A financed loan?
• What will happen if two or more physicians retire and divest their ownership at the same time?
• How will retiring physicians' shares be valued?
• Will retiring physicians be allowed to sell their shares to a junior partner?
More articles on transactions and valuation issues:
Flagler Hospital to acquire St. Augustine Surgery Center
55 things to know about know about ASC company 2Q financial reports
Study questions usefulness of CON
Here are six questions for ASC physician leaders to ask when creating a succession plan, said Arthur E. Casey, CASC, senior vice president of business development for Outpatient Healthcare Strategies, in a recent Becker's ASC Review article.
• How much notice is required before retirement?
• How will the divestiture of ownership from a retiring physician be funded and over what length of time?
• Where will capital to repurchase shares come from? Operating cash? A financed loan?
• What will happen if two or more physicians retire and divest their ownership at the same time?
• How will retiring physicians' shares be valued?
• Will retiring physicians be allowed to sell their shares to a junior partner?
More articles on transactions and valuation issues:
Flagler Hospital to acquire St. Augustine Surgery Center
55 things to know about know about ASC company 2Q financial reports
Study questions usefulness of CON