Transitioning Your Practice: Selling, Retiring, or Buying a Practice
Presented by Debra Phairas, MBA on 07-10-2015 at 9 a.m. Pacific to 11 a.m. Pacific (2 p.m. Eastern)
Are you considering retirement, or buying or selling a practice? Sufficient time and planning are required to make this transition a success for clients, staff, and your family. Employing creative strategies will help you reach your goals. During this web conference Debra Phairas will cover many options, including bringing in an associate, recruiting, and selling or closing your practice. She will also review the current data on valuation methodology for selling, divorce, or estate planning.
Topics covered in this seminar will include:
- Your ethical and legal responsibilities to your clients when you retire.
- Why selling your practice is a critical step before slowing down.
- Methods for appraising and valuing your practice and any equipment.
- Determining whether to employ a practice broker or sell your practice yourself.
- Details your broker or attorney may be unaware of with regards to client record retention/ownership.
- Why buying a practice may be preferable to starting a new one.
- Preparing to have a new therapist take over your practice.
- Structuring the relationship between senior and junior partner.
- Equalizing assets when merging.
This web conference is beginning instructional level and designed to help clinicians:
- List the requirements for closing a practice to avoid abandonment liability;
- Develop a plan for records retention or transition responsibilities;
- Summarize common methods for appraising a practice;
- Assess the concept of goodwill or intangible asset value and identify why there is still value.
If you have any questions or concerns about this web conference, or would like more information, please contact us here.
How the Web Conference Works
Attendees who register for this event will log in to the web conference center by using a computer and calling in to the teleconference line. Attendees will be able to ask live audio questions via phone and/or submit text chat questions via computer. Live streaming video and/or document sharing will also be available to participants. Alternatively, attendees may dial in to the teleconference line only, though attendees dialing in by phone only will be unable to ask questions.
Before the scheduled event, all registered attendees will be sent a reminder email with specific instructions on how to log in to the web conference center, as well as links to optional handout materials if applicable.
This event will include lecture and question-and-answer periods. A recording of the web conference will be available to members in GoodTherapy.org's Continuing Education Archives within two weeks. After the live event, a written transcript of the event will be available in the Member's Area. Members of GoodTherapy.org can receive continuing education credits for attending this event by logging in to the GoodTherapy.org Member's Area.
All are available to GoodTherapy.org members at no additional cost.
Continuing Education (CE) Information
Two CE credits will be provided by GoodTherapy.org for attending this web conference in its entirety.
GoodTherapy.org is also an Approved Education Provider by NAADAC, The Association for Addiction Professionals (provider #135463). Of the eight counselor skill groups ascribed to by NAADAC, this course is classified within counseling services.
GoodTherapy.org, SW CPE is recognized by the New York State Education Department's State Board for Social Work as an approved provider of continuing education for licensed social workers #0395.
This web conference is available at no cost to GoodTherapy.org members.
This event has already taken place. An audio recording for this event may be available in the Member's Area.
Both an excellent presenter and workshop. - Denise Humphrey, PhD
A great reminder to prepare early and plan well. - Katarzyna A. Haberko, LCSW-R
This is a great event that addresses the steps needed to retire a practice ethically and legally. - Janet Haines, MS, LCMHC
Meet the Presenter
Debra Phairas, MBA
Debra Phairas is President of Practice & Liability Consultants, LLC, a firm that specializes in malpractice prevention and practice management. She attended Michigan State University as an undergraduate and completed her graduate degree in the MBA Health Services Administration program at Golden Gate University in San Francisco.
Debra has worked as a consultant for more than 1,800 practices of all types and sizes, facilitating practice assessments, practice start-ups, mergers, staff management, partnership issues, financial analysis, overhead reduction, revenue enhancement, over 380 practice valuations, and recruitment support for physician groups and hospitals. She offers presentations at lectures and seminars nationwide for dental and medical associations, management organizations, and specialty groups. For more information about Debra and her work, please visit her website at www.practiceconsultants.net.
Continuing Education Provider Approvals
- This course has been approved by GoodTherapy.org, as a NAADAC Approved Education Provider, for educational credits. NAADAC Provider #135463. GoodTherapy.org is responsible for all aspects of their programming.
- GoodTherapy.org, provider #1352, is approved as a provider for social work continuing education by the Association of Social Work Boards (ASWB) www.aswb.org through the Approved Continuing Education (ACE) Program. GoodTherapy.org maintains responsibility for the program. ASWB Approval Period: 03/30/2016 – 03/30/2019. Social workers should contact their regulatory board to determine course approval for continuing education credits. Social workers participating in this course will receive 2 clinical continuing education clock hours.
- GoodTherapy.org, LLC is recognized by the New York State Education Department's State Board for Social Work as an approved provider of continuing education for licensed social workers #SW-0395.
- GoodTherapy.org, LLC is recognized by the New York State Education Department's State Board for Mental Health Practitioners as an approved provider of continuing education for licensed marriage and family therapists #MFT-0022 and for licensed mental health counselors #MHC-0031.