Roetzel HealthLaw HotSpot® is a podcast and YouTube channel for physicians and health professionals that covers the legal issues and trends that affect the health care industry.
In this episode of the HealthLaw HotSpot, host Ericka Adler sits down with Joe Lessard, CPA and Principal of Professional Business Management, to discuss the pros and cons of purchasing vs. starting your own healthcare practice. Ericka and Joe delve into the key considerations practitioners should make when choosing which direction to go, including the importance of assembling a team of experts, conducting due diligence, and setting realistic expectations. They also explore the advantages and disadvantages of purchasing an existing practice, such as gaining the established patient base and income stream and the potential drawbacks, like a less ideal location, older office equipment, and existing staff challenges. Additionally, the podcast covers the benefits of starting a new practice, including the ability to choose location, equipment, and layout of the office and identify challenges, which include acquiring capital and the need to attract patients to build and support the practice financially.
To listen, download the episode on Apple Podcasts or click here. To watch the episode on YouTube, click the link below:
Watch Buying or Starting a Healthcare Practice: Which is Right for You?