Whether you’re considering selling your practice, growing your practice, or maintaining the status quo, it’s important to periodically do a checkup on your internal operations and compliance with the law. It’s always preferable to discover problems within your practice and correct them (if possible) before those issues are discovered by third parties, such as the government or a potential buyer.
Explore this issue:July 2015
A failure to review your internal operations prior to selling your practice could limit the interest of potential buyers, delay the closing of a sale, and reduce the economic benefit to you. Increased attention from recovery audit contractors (RACs) and other government agencies that are tasked with finding instances of Medicare and other government expenditure overpayments may also ensue.
This article describes some key areas to address when conducting a checkup of your practice.