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The Practice

• What kind of practice is it? Does it have academic affiliations?
• What is the income guarantee? Who is underwriting it? Is that person financially strong enough to make such a guarantee? What are my obligations?
• What is the income potential, and how long would it take me to get there?
• What percentage of patients have indemnity insurance. belong to HMO's or PPO's, are on Medical or Medicare, or are indigent? How much charity work would I be expected to do?
• Is the office location convenient for both doctors and patients? Would I be manning more than one office?
• What is the age, size and condition of the office? Is rent reasonable?
• How many nights and weekends woud I be on calI? Are the cross-covering physicians compatible?
• Is there a genuine need for another physician in my specialty? Are physicians in the practice still accepting new patients? What is the average waiting time for new-patient appointment?
• Are there specialists in the area to take my referrals? If you're a specialist, are there enough primary-care physicians to keep me busy?
• How difficult will it be to get a license in this state? Are there any special requirements?
• Is there a medical school nearby? If not, where would I find CME and a medical library?
• Who runs the practice on a day-to-day basis?
• What are the buy-in arrangements? When would I get an equity position? How much will it cost? How would I pay?
• What are the fringe benefits (health, life, disability, malpractice insurance, CME, & vacation time)? Would I be able to take time off during my children's school vacations?
• How old are my potential partners? What kind of retirement plans do they have? Do they get along with each other? Are their practice styles similar to mine? Is there a "group philosophy"? Is it compatible to mine? Would I be comfortable with my workload and responsibilities?
• How is income divided? Would this system be acceptable to me?
• What does the practice charge for services I offer? How are collections made? What is the overhead, and how is it paid? Does the practice function efficiently or are there signs of wasted time and materials?

The Location

• How big is the community? Where is the nearest large city?
• What are the local economic conditions and rates of unemployment and inflation? Is the area attracting new business?
• What are the state and local sales and income taxes?
• What are the demographics? What are the trends? Is the local population growing or shrinking?
• What is the climate? Is the area prone to heavy winds, tornadoes, floods, hurricanes, or earthquakes?
• Is shopping in the area adequate for my family's needs?
• Are there sufficient cultural opportunities: museums, theatre, art, music, etc.)?
• Are there major league or college sports to watch?
• Are there decent facilities for the sports which I and my family participate in?
• Does the area have adequate restaurants and nightlife?
• Is there public transportation? How close is the nearest airport? How long would it take to commute among home, office and hospitals?
• What is the average cost of the type of house I want?
• Are there good public schools? Are private schools available? What about colleges and universities?
• What kind of health-care services are locally available? Is there a health department to aid in medical care for the indigent?
• Do the local churches or temples fill my needs?

Source: Medical Econonmic's/March 4, 1991

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