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    Selling your practice: How to determine its value

    A basic understanding of the valuation process is critical, as perspective can vary among potential buyers

     

    Estimating your practice's value

    A basic understanding of valuation methods is important because, as noted, the perspective of value will vary among potential purchasers. The value estimated using the formulas and calculations in the figure provided should give you a good overview of the value potential of your practice. Recognize, however, that every potential purchaser will have their own perspective and approaches on how these assets are valued and what they are willing to pay for them.

    Conclusion

    The entire process of selling a practice can be daunting for any urologist. However, the valuation process is part and parcel of making a successful transfer of assets that is equitable to both buyer and seller. We have highlighted key the steps in putting a value on your practice. In the third and final article, we will discuss how to provide a seamless transition between buyer and seller.

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    Neil H. Baum, MD
    Neil H. Baum, MD, is a urologist in private practice in New Orleans. He is the author of "Marketing Your Clinical Practice-Ethically, ...

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