Your weekly dose of wisdom from the Physicians Practice experts.
With all the useful information available on Physicians Practice, it is easy to become overwhelmed.
With this in mind, the tip of the week is a chance to reflect on some of the wisdom found all across the site. In a February 2021 story on transitioning your practice to your children, Nick Hernandez, MBA, FACHE writes the following:
“Conversations around the next generation of leadership are inherently more complicated and emotional due to family dynamics, individual expectations, and financial concerns. In the end, there are several major reasons that transitions from the founding physician to the succeeding son or daughter tend to fail:
So, how then should you start the succession planning process and transitioning of the practice to your children? Consider these key focus areas:
Click here for the rest article. Be sure to come back next week for another Tip of the Week!