A new "issue analysis" released by the Healthcare Financial Management Association provides nuts-and-bolts advice on acquiring and selling physician practices.
The 24-page document was developed by the HFMA's Principles and Practices Board to help with the physician-acquisition piece of creating an integrated healthcare delivery system.
First, a purchaser's board of directors should develop an integration strategy that links overall goals with the purchaser's policy for acquiring physician practices, according to the HFMA document. Each proposed acquisition should be evaluated in light of overall goals, it said.
"If the purchaser is a not-for-profit healthcare entity, a fundamental standard should be the provision of high-quality, cost-effective healthcare to all citizens in the community," it said.
The document also provides guidance on methods of making acquisitions, development of business plans, valuations, operational issues and other considerations.
For a copy of the report, contact the HFMA at 708-531-9600, ext. 420, and ask for order No. 211086.