7 Things to Consider When Retiring from Practice

September 27, 2017

Most physicians realize they can't just up and retire, but how exactly do you prepare for life after medicine?

Preparing for retirement can be challenging for any busy professional. But for physicians, the challenge goes beyond office closure procedures and financial details. Of course you'll contact the state medical society, board of medicine, and Drug Enforcement Agency to verify rules about how long to keep records, financial data, and licenses. And practice closure checklists are plentiful. (One that several clients have suggested is: The Doctor is Out: A Physician's Guide to Closing Practice developed by the North Carolina Medical Board.)For physicians, there are a number of "human" issues to be addressed. Here are seven of them, gleaned from my recent interviews with a dozen physicians about their retirement and other practice transition experiences.Click here to download a PDF of this slideshowKaren Zupko is President of consulting and education firm KarenZupko & Associates, Inc., which has been advising physicians to succeed in the business of medicine for more than 30 years.