"Event" Practice Transition Is Dead

I’ll be presenting a lecture at the AAO Annual Meeting in Boston May 1st. One of the points that will be stressed is the increasingly out of step approach that practice owners take when they just focus on securing an associate, considering a partner or planning to sell. I will refer to this old approach as "event" practice transition / succession. What is missing is the pre and post strategic analysis and planning for an effective result. When the sole focus is "I think it would be a good move to have an associate now", the larger picture of what is good for the practice can fade to the background. In fact, our experience is that the larger picture in terms of how the practice will capitalize on the additional professional, how the new doctor will be presented to the community / current patients and what benchmarks will be used indicating a successful integration should be the primary considerations for a Doctor CEO. With practices investing so much in their facilities, staff and marketing event driven transition does not do justice to the overall needs of the transition or practice.