Exit Strategies & Succession Management
Exit strategies plan for when a business owner or practitioner wants to retire or sell the business. An exit strategy is something that must be planned at least a few years in advance, not six months before the owner wants to leave.
If you are considering retiring in the near future you might be questioning:
- How do I get out of the business?
- How far in advance should I plan for my retirement?
- Is this in my shareholders or operating agreement?
That is where Zetter HealthCare comes in. We walk you through all of the necessary steps and help you plan for your retirement goals well ahead of time to ensure the business will be in safe hands when you leave.
Recruiting a Replacement
There are many hefty decisions to make before retirement. The first is deciding if you would like to recruit a new doctor to take your place. In this case, the new doctor should be in place well before you leave, allowing you to slowly dwindle down your patient list.
You may have another doctor or practice that is buying out your company. In this case, Zetter HealthCare can help you manage revenue coming into the business and how to properly distribute that revenue between you and the new owner.
When to Stop Accepting New Patients
Another important thing to consider is when to stop accepting new patients. Once you have established an exit strategy and have a retirement date, you will need to lighten your workload and start handing off patients to your successor. The question is, how do you professionally walk your patients through this process?
The most important thing to remember when considering your exit strategy is to not wait. Creating an exit strategy involves a well thought out plan years in advance. Zetter HealthCare can help you create an exit strategy that works for you and your successor.
Exit Strategies & Succession Planning
Succession planning involves planning for every position within the company. This means that you should have a solid plan in place in case anyone within your company decides to leave. Zetter HealthCare can help you create a succession plan for every position, so that if you find yourself in a situation where an employee leaves, your company can continue on without missing a beat.
Our founder, David Zetter, is a certified Human Resources Professional and knows all state and federal laws regarding employment, succession planning, and even performance evaluations.
To begin creating your exit strategy and succession plan, call Zetter HealthCare at (717) 691-6768.
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