Selling my practice - do I have to disclose my payor agreements?
Provided by: Jennifer Kirschenbaum, Esq.
June 15, 2017
I am looking to sell my practice and a prospective purchaser has asked for my payor contracts. The thing is the prospective purchaser is also potentially a competitor and I feel strange releasing. Thoughts?
Thanks, Dr. P
First, we disclose nothing without a properly drafted non disclosure agreement in place. If that box has been checked, then, Second, I'm not surprised the prospective purchaser has requested payor contracts - the reimbursement rate may be a driving force of the deal and the purchaser may want to check for assignability; or the purchaser may be looking to steal your rates! Either way, a good way to stave off sharing and have proprietary data potentially stolen is creating a financial barrier to the disclosure. Consider requiring a down payment prior to release of the information - and have refundable only under certain circumstances...
Contact Jennifer at Jennifer@Kirschenbaumesq.com or at (516) 747-6700 x. 302.
at a residency/fellowship program?
Contact Jennifer directly at (516) 747-6700 x. 302 or at Jennifer@Kirschenbaumesq.com