If you’re at the age where you’re financially and mentally ready to retire, that’s great! It’s a great thing to finally be able to relax and enjoy the fruits of your labor. The only downside to deciding to retire when you own your own medical practice, is having to actually close your medical practice. There are many tasks that need to be taken care of before you can finally close up shop, but My Retired Doctor is here to help!

The Never Ending To-Do List

So, where do you even start? With a to-do list that seems endless, you might not even know where to begin. The best way to separate the list is to break it down into separate affected parties:

• Employees: The first people that should be notified are your employees. They will need to begin looking for new employment and you don’t want them to hear it from anyone else.
• Patients: Your patients should be given enough warning so that they can obtain their records and work to find a new physician. Each patient should be sent a letter, and some states even require that you post a notice in the newspaper.
• Licensing Agencies & Medical Boards: You need to inform the DEA, state licensing agencies and medical boards that you will be closing your medical practice. You can also inform the state employment agencies to get out of your employer obligations.
• Insurance Carriers: You will need to contact your health, workers comp, commercial, fidelity, mal-practice and any other insurance carriers that you utilize to determine how to handle your policies going forward.
• Other Physicians: You should contact other physicians for a couple reasons. The first is that you don’t want them to refer any more patients to you, and the second is that you want to give them a heads up that some of your patients might seek them out as a new primary.

Aside from contact these people, there are also other steps that need to be taken. These include selling office furniture, dealing with document management, and dealing with the lease or ownership of the property.

My Retired Doctor Can Help with Document Management

At My Retired Doctor, we know how stressful it can be to retire and close your medical practice. Chances are that you’ve worked with your patients for the better part of their lives, seeing younger patients become parents of their own, with their children eventually becoming patients of yours themselves! With this type of involvement, it can be an emotional time. That is why My Retired Doctor is here to help with the logistical aspect.

We offer document management services, including medical record storage, scanning and shredding. At My Retired Doctor, we can also act as your Release of Information provider to ensure that your patients have proper access to their files even after you’ve closed your practice. If you are interested in learning more about the services that we offer, you can visit us at My Retired Doctor or give us a call at 877-328-2343. We’ll be happy to answer any questions you have, or to get you started on the path to a happy retirement!