Thinking About Retiring and Closing a Medical Practice? Here Are Some Things to Keep in Mind!

Thinking About Retiring and Closing a Medical Practice? Here Are Some Things to Keep in Mind!Are you planning to retire and close your medical practice? That’s great news! You’re probably thinking about all the good times that lay ahead for you in retirement. Unfortunately, it’s going to take quite a bit of work to get there. Wondering just what it takes to close your medical practice? Keep reading!

1) You have to inform your employees and patients.

The first thing you are going to have to do is inform your employees that you are closing your medical practice. Do this well in advance to give them plenty of time to look for other employment. In addition, you will also need to let your patients know that you will be retiring. This gives them ample time to search for another physician so there is no gap in care.

2) You have to be financially and mentally ready to retire.

Something else to keep in mind is your financial stability. It is always a good idea to meet with your financial advisor to ensure that you are financially ready to retire. It might even be wise to try living within your “retirement budget” for a few months to ensure that it’s feasible. That way you will know that you have what you need to live comfortably in retirement.

3) You have to deal with the contents of your office.

Another matter to attend to is what you will do with the contents of your office. Not only is there costly medical equipment, but you also have office furniture, tables, computers, and other items to consider. Not to mention the physical building itself, which you will need to sell if you own it.

4) You have to have a strategy in place for document management.

Last, but not least, you also have to have a strategy in place for how you will manage the troves of patient records that reside in your facility. You will either need to scan and shred these files or securely store them so that patients can have access to them after you’ve retired.

My Retired Doctor has been providing document management services to retiring physicians for over 25 years!

If you are looking for assistance with document management when it comes to closing your medical practice, look no further than My Retired Doctor. Since 1993, we’ve been providing quality document management services for retiring physicians and we’d love to help you out as well. From shredding and scanning to storage, we have the knowledge, resources, and experience necessary to assist with all your documents. In addition, we can also serve as your Release of Information provider to ensure that your patients still have access to their medical records after you’ve retired.

To learn more about our quality and affordable services, contact us today at 877-328-2343 or!