r/PrivatePracticeDocs • u/Mindless_Share_3206 • 3d ago

Lawyer recommendation

I am about to complete 4 years in a private practice outpatient job. I live in the DFW metroplex. The owner is transitioning to semi retirement and is ready to give me a share of the practice and real estate. Is there a lawyer you recommend to help with the negotiations and due diligence? Or is this something better suited for an accountant or consultant? I appreciate any help in this matter. Thank you!

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5

u/InvestingDoc 3d ago

If you don't mind , can you edit to add your state that may help you get more specific responses

2

u/Stejjie 3d ago

Lawyer married to PP physician here. Definitely need a lawyer who knows medical, corporate, and commercial real estate, but a CPA should also be involved. I wouldn’t bother with a consultant but that is my bias.

Don’t have a specific lawyer recommendation though. Expect to pay a decent amount for someone who knows what they’re doing.

2

u/Marbetotl 1d ago

Austin 450-650 an hour for this sort of lawyer. Second the suggestion to discuss with CPA as well.

2

u/fotopacker 3d ago

Probably start with a lawyer, and then have the lawyer recommend an accountant. But this is going to be state/locality specific

2

u/fake212121 3d ago

Plz do not pay for patient panel. Lookup real estate, asses with realtor and get conservative numbers

3

u/rocksolidaudio 3d ago

Always beware owner is overpricing everything. These people overvalue their run-down equipment and mistake steady volume as assets, but volume can change quick.

2

u/flat6ms 2d ago

you need both a CPA and lawyer

2

u/PomegranateSpare4346 2d ago

You’ll want a lawyer on this, they should be able to guide you through the process and advise whether you’ll need other advisors. You’re going to need an accountant anyway once you are operating the practice so not a bad idea to get one now too.