Question
Can you provide a simple list of thing to consider when you are looking at buying an existing practice versus starting your own? Does one have an advantage over the other?
Answer
Although it is generally considered less risky to buy an existing practice than it is to start a practice from scratch, there are both pros and cons associated with each. The following chart includes some of the things one must consider before making such a business decision:
Click Here to View Larger Version of Chart (PDF)
Kathy Foltner, AuD, is CEO of AuDNet, Inc. She also teaches courses in Practice Management and Basic Business at Rush University Medical Center and PCO. Dr. Foltner can be reached at [email protected] or 312-593-1787. Visit www.aud-net.com, www.NowiHear.com, or the AudNet web channel on Audiology Online for more information.
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