AUDIOCONFERENCE ON TAPE
presented on September 8, 2005
Physician practices are pursuing mergers at a fast pace. But a successful merger can be very difficult to pull off, and many well-intentioned mergers ultimately fail.
What can you do to ensure you don't fall into the same trap?
Considering a merger? Listen to this audioconference first.
Physician practice mergers can reduce administrative burden and day-to-day operational decisions, spread financial risk, reduce overhead, and improve reimbursement rates. It seems like a no-brainer to many small practices.
Unfortunately, many mergers fail because groups joined under false assumptions-that cultures would easily blend, that the practice would automatically get better reimbursement rates, or that they would save money through economies of scale.
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How do you know if the potential benefits of merging will outweigh the risks?
An important step that needs critical examination
Before going forward with a merger, you need to weigh the risks. Physician Mergers: Strategies for Evaluating Opportunities and Avoiding the Pitfalls helps you do just that.
During this 60-minute audioconference, expert speakers tell you exactly what to consider when thinking about merging. They will debunk many merger myths, and advise on how to choose an appropriate partner. The speakers will share valuable, real-life examples of mergers that worked, and ones that didn't. You'll complete this program able to identify the red flags and recognize when to walk away-as well as how to move forward and develop a successful business plan. It's a program you can't afford to miss.
This audioconference will help explain:
- Why you should want to merge (it may not be why you think)
- How to identify and choose the right partner
- When to share financial information
- How to identify and address culture, philosophy, and personality differences
- How to know when to walk away
- And more!
AGENDA
- Reasons to consider merging (and not merging)
- Motivation for merger: it may not be what you think
- Good/bad reasons
- Merger myths and how to avoid them
- Small practice vs. large practice (reasons for small practices/large practices)
- Choosing your partner(s)
- What to consider
- The initial approach: how to approach a candidate(s)
- Use of advisors and sharing information
- Role of the independent consultant
- Budgeting up-front costs
- When to bring in lawyers and/or accountants
- Sharing practice information (including confidentiality agreements)
- What not to share
- Legal restraints
- Red Flags: When to walk away
- How to identify and address culture issues
- How to disarm the 'un-winders'
- How to know when to walk away
- Developing a business plan and moving forward
- Developing a plan
- Projecting post-merger finances
- Bringing in advisors
- Using lay administrators
- Choosing staff, office facilities, computer/file systems etc.
- Q&A Session
LEARNING OBJECTIVES
- How to critically decide whether a merger opportunity is worth investigating
- How to recognize what potential merger partners are right for you.
- How to hire and use advisors (lawyers, consultants, accountants) cost-effectively, including whose advisors (if either) to choose
- How to approach the myriad details without breaking the bank
- How and when to commit to merging, and when it may be too late to pull out
Purchase a tape or CD of the program and listen when you can. It's a perfect training tool for new staff or as a refresher for veteran staff.
MEET THE SPEAKERS:
Leif C. Beck, JD, CHBC, has been a medical management consultant and an attorney specializing in medical practice matters for over 25 years, focusing primarily on group practice issues, higher-level management concerns and planning almost exclusively at the physician and top-administrator level. He founded and for many years served as chairman of a nationally known consulting and law firm, and now is affiliated with several consulting firms including Delta Health Care of Brentwood, TN.
Randy Bauman is President of Delta Health Care, a Brentwood, TN-based consulting firm focused on "the Business of Physician Practice." He has over 20 years of experience working with physicians on all aspects of physician practice. He joined Delta in 1993 and developed merger and group practice formation processes and methods used in merging some of the largest and most successful physician groups in the country.
WHO SHOULD LISTEN:
Physician members, physician leaders, and all other physician advisors, practice managers, accountants, and consultants.
PROGRAM MATERIALS:
Program materials will be provided with PDF links.
Save money when you purchase multiple copies! Ask your customer service representative about money-saving
discounts and bulk orders. Call toll free 800-650-6787 or e-mail
customerservice@hcpro.com.
