Practice Advantage
Lessons From A Practice Buyout with Dr. Brianna Rhue
Episode Summary
Buying out a partner is a major step in practice ownership. Dr. Brianna Rhue shares the lessons learned from her recent buyout.
Episode Notes
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In this episode, I sit down with Dr. Brianna Rhue, owner of West Broward Eye Care in Tamarac, FL to discuss her recent buyout of her partner to become sole owner.
Key Takeaways
- Timing is a critical part of the process. Put in the time and energy ahead of time to set the course for partnership and buyout.
- Invest in the relationship with the partner. Build trust, be transparent, and be up front about expectations and the plan.
- There are a number of ways to valuate the practice and they often result in a significant difference to make up. Negotiate appropriately. Consider using the cash flow as the tool for agreeing on the purchase price.
- Private practice success rate is high, making financing relatively easy. This is less of an issue to secure the money to purchase.
- Transitioning both patients and staff is key to success.
What Dr. Rhue is reading: