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Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery, and if you’re ready to exit your practice.
I’m your host, Catherine Maley, author of Your Aesthetic Practice – What your patients are saying, as well as consultant to plastic surgeons, to get them more patients and more profits. Now, today’s episode is called “Ready to Exit Your Practice? — with Andrew Kaufman, MD”.
When you’re ready to exit your practice or at least slow down, you have lots of available options:
Have associates buy you out and take over your practice
Offer to sell it to local Universities or teaching institutions
Have private equity buy you out
There are pros and cons to each of those and limitless scenarios to consider for you to get the best terms and options at a fair price.
This week’s video is an interview with Dr. Andrew Kaufman — a board-certified dermatologist specializing in Mohs, dermatologic and cosmetic surgery in Thousand Oaks, CA for over 28 years.
He built a nice size practice and looked at all the above scenarios carefully before choosing who to partner with to take over the reins.
Dr. Kaufman offered great advice to vet your potential buyer to ensure you are comfortable with their vision for your practice such as:
Who’s running the group?
Are your patients, associates, staff protected?
How long do you have to stay/work in the practice?
Are you OK not being the boss anymore?
This is a must watch if you are thinking about exiting in the next 10 years since you need time to set your practice up to be a sellable asset.
Visit Dr. Kaufman’s website:
Enjoy!
Catherine Maley, MBA
📲 P.S. If you want to set up your practice to be a sellable asset, this video is also worth watching: https://youtu.be/PC8Z1QRaxEA
📖 Get a Copy of Catherine’s FREE Book: https://bit.ly/3GuAJqc
👁 DON’T MISS THESE INTERVIEWS 👁
➡️ Robert Singer, MD FACS – Former President of The Aesthetic Society: https://www.catherinemaley.com/podcast/ep-86-robert-singer-md-former-president-of-the-aesthetic-society
➡️ Grant Stevens, MD FACS – Former ASAPS President: https://www.catherinemaley.com/blog/ep-44-covid-19-update-with-asaps-past-president-dr-grant-stevens
➡️ E. Gaylon McCollough, MD FACS – Former President of AAFPRS, ABFPRS, AACS: https://www.catherinemaley.com/podcast/ep-88-e-gaylon-mccollough-md-facs-past-president-abfprs-aacs
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