Husband and I thinking of buying a practice together

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  • #37725
    ospreyosprey
    Participant

    I’m an FP 1.5 yrs out of residency with a two year old. So far I moonlight in a VA ER and at a private hospital and stay home with the boy. I’m expecting our second in May.

    My husband will be graduating from internal medicine residency in June. He is looking at a number of practice opportunities and recently learned of an internist who is trying to sell his practice (he wants to retire early). Husband would work for/with this guy for two years, then we would buy the practice, paying it off over ten years.

    We have already spoken with a practice management consultant recommended to us by the local medical society. We have also gotten a bunch of books from the med school library on the subject of starting/buying practices and we are trying to make ourselves aware of the possible hazards/risks/traps.

    I think this could be a great opportunity for my husband and I to have the flexibility to attend our children’s school events, field trips, etc. I could work part-time in our office and then gradually be more full-time.

    The retiring internist currently has weekend call coverage by a local group but does have difficulty getting away for extended periods. This should not be a huge problem though given the great location of our city–plenty to do around here within a couple hours drive.

    Does anyone here know of anyone who has bought an established practice?

    Also, is anyone here in practice with their husbands or know anyone who is?

    Husband and I are both interested in the business side of medicine and pretty much always have been (but we like the actual practice of medicine, too), and value autonomy highly.

    #37726
    docnrolldocnroll
    Participant

    I would not recommend buying an internal medicine practice. EMail me privately if you like for my reasons.

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