An established, successful private practice owner was 10 years from retirement when he engaged with Ideal Business Partners. His practice was built around clinical excellence, customer service and strict compliance in a practice area that was under near-constant scrutiny.
Unfortunately, his practice was built around personally seeing all of his patients. While he was professionally and financially successful, he was also chained to his practice, unable to leverage decades of experience for anything more than continued mastery over his small business fiefdom.
Two years after he started working with IBP, the doctor is more profitable and spends just three days a week at his office.
Two years after he started working with IBP, the doctor is more profitable and spends just three days a week at his office. He has developed several lucrative, active investment opportunities that will allow him to gradually exit his medical practice–driven by IBP’s strategic guidance in exit strategies.
We developed a program that takes an agnostic view in regard to whom will take over the doctor’s practice. This strategically equipped, modern practitioner can locate potential successors on his own terms, to ensure his practice and patients remain in capable hands. He’s leveraging his experience and love of mentorship to train his successor, and ensure their chances to prosper in the transition.
This strategy provides a healthy monthly income to the retiring physician while deferring much of the purchase price and ultimately allowing him to cash out tax free. We’ll say that one more time: That’s cash flow now, and a tax-free windfall later. Further, the plan is structured to ensure that the succeeding physician can pay the monthly obligations while still enjoying a competitive salary and all the benefits of their efforts to grow the practice.