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What You Need to Know About Selling Your Practice, continued from page 13 cant. Over time, physicians in successful platforms may even see their employment compensation approach pretransaction levels – which is on top of their equity upside opportunity. In addition to more up-front money and long-term upside opportunity, in some cases, a private equity option may provide physicians more autonomy over the operation of their practice, with po-

tential opportunities to participate in physician committees or business development roles. With greater flexibility, PE platforms are often more receptive to creative ideas. Where Do You Go From Here? If you want to further explore a PE opportunity, start by building a team. Reach out to reputable investment

bankers and legal, tax and financial advisors with demonstrated experience handling private equity transactions in the healthcare space. Bankers and law firms, in particular, want to help sellers get ready ahead of time because it makes their own lives easier. They will often take calls and meetings offtheclock in exchange for the opportunity to work with those proceeding to a sale. Much like staging a house before a sale, an experienced deal team will help you put your best foot forward before you open the doors to potential bidders.

The opinions expressed in this article are intended for general guidance only. They are not intended as recommendations for specific situations. As always, readers should consult a qualified attorney for specific legal guidance. Denise Burke and David Marks are partners with Waller Lansden Dortch & Davis, LLP who provide legal counsel to the healthcare industry. They can be reached at denise.burke@ wallerlaw.com and david. marks@wallerlaw.com respectively.

Endocrine Society, continued from page 15 Whether you want to bank privately with personally tailored financial services, or want assistance with financing your practice, CenterState has you covered.

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Available for Consult On the practice side, Lash said there are a number of endocrine diseases where other providers routinely refer patients to an endocrinologist, including those with thyroid cancer or pituitary and adrenal gland concerns. “Then there’s the part of endocrinology where other physicians often don’t refer and are probably right not to refer,” he continued of patients with well-managed type 2 diabetes or hypothyroidism. “Where it gets interesting is that gray zone. Who with diabetes really needs to see an endocrinologist? Who with thyroid disease might need to be referred? And that’s where I think endocrinologists and primary care physicians need to be talking to each other more,” he said. While most patients with type 1 diabetes will see an endocrinologist, Lash said those with type 2 who are not as easily controlled are good candidates, as well. When it becomes difficult to hit on the right combination of insulin alongside other medications … or when the diabetes conversation begins to eat up most of the appointment … Lash noted, “It might be time to refer to an endocrinologist, so as a primary care provider, you can focus on the whole patient.”

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Another area where providers might not immediately think to refer to an endocrinologist is with transgender patients. Yet, Lash said the Society has significant expertise in this growing field. “We have some of the best regarded guidelines on transgender medicine,” he stated, adding Society guidelines have already been translated into Spanish and are in the process of being translated into Mandarin and Portuguese. Providers in Vietnam have asked to translate the guidelines for use in their country, as well. Lash noted the Endocrine Society has held briefings with policymakers on Capitol Hill about gender-affirming care for transgender and gender incongruent individuals that is grounded in science and meant to dispel myths that persist in the public arena. “This is an area where we really believe we’ve been leaders. The Society’s resources are state-of-the-art, and our members who practice transgender medicine are really the leaders in the field,” he said. While diabetes plays a big role in the field, Lash pointed out the endocrine system impacts a wide range of conditions from cardiovascular health to fertility. Whether it’s cholesterol that’s unresponsive to medication or a newly diagnosed cancer patient trying to figure out how to achieve parenthood after treatment, Lash said endocrinologists welcome the opportunity to offer their expertise. “We look forward to helping our colleagues help patients live their best possible lives,” he said. “There’s never anything wrong with asking for help,” Lash concluded. “Medicine is practiced best when it’s practiced as a team, and endocrinologists really relish being part of that team.”

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• Pre-conference events March 26-27. • Advanced registration deadline to receive best price Feb. 13. • For more information or to register, go to endocrine.org/ENDO2020

Profile for Medical News

February 2020 Birmingham Medical News  

your primary source for professional healthcare news

February 2020 Birmingham Medical News  

your primary source for professional healthcare news