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Closing a Medical Practice What Physicians Should Know 222 North Person Street Raleigh, NC 27601 919-833-3836 www.ncmedsoc.org This guide was made possible with the support of the Physicians Foundation

How to fill out closing a medical practice

Point by point guide on how to fill out closing a medical practice:

Step 1: Notify patients and staff

Inform your patients and staff members about the decision to close the medical practice. This can be done through written notifications, phone calls, or in-person meetings.

Step 2: Obtain legal advice

Consult with a healthcare attorney to understand the legal requirements and obligations associated with closing a medical practice. They can guide you through the necessary steps and ensure compliance with applicable laws and regulations.

Step 3: Notify regulatory bodies and insurance providers

Inform the appropriate regulatory bodies, such as the state medical board, about the closure of your practice. Additionally, notify your malpractice insurance provider to discuss any necessary coverage during the transition period.

Step 4: Coordinate patient care

Develop a plan to ensure continuity of care for your patients. Coordinate with other healthcare providers to transfer medical records and facilitate the transition of patients to new healthcare providers.

Step 5: Manage financial aspects

Settle all outstanding bills and accounts receivable. Notify patients with outstanding balances about payment options and provide assistance to ensure their financial obligations are resolved.

Step 6: Address employment matters

If you have staff members, determine the appropriate course of action regarding their employment. Consult with human resources professionals to handle severance packages, final paychecks, and providing necessary references.

Step 7: Properly handle medical records

Comply with state and federal laws regarding the retention and disposal of medical records. Ensure the secure storage, transfer, or destruction of patient records in accordance with legal requirements and patient privacy regulations.

Who needs closing a medical practice?

Healthcare providers who have decided to retire, relocate, change careers, or merge with another practice may require the process of closing a medical practice. Additionally, financial instability, changes in regulatory requirements, or personal circumstances may also lead to the need for closing a medical practice. It is crucial to follow the proper procedures to fulfill legal obligations and ensure a smooth transition for patients and staff members.

For pdfFiller’s FAQs

What is closing a medical practice?

Closing a medical practice involves permanently shutting down a healthcare facility or office.

Who is required to file closing a medical practice?

Healthcare providers or professionals who are closing their medical practice are required to file the necessary paperwork.

How to fill out closing a medical practice?

To fill out the closing of a medical practice, one typically needs to submit specific forms to the appropriate licensing board or regulatory body.

What is the purpose of closing a medical practice?

The purpose of closing a medical practice is to cease operations, notify patients, and ensure proper handling of patient records and financial matters.

What information must be reported on closing a medical practice?

Information such as final patient lists, referral plans, and steps taken to notify patients must be reported when closing a medical practice.

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