Host Ericka Adler sits down with Joe Lessard, CPA and Principal of Professional Business Management, to discuss the pros and cons of purchasing vs. starting your own healthcare practice. Ericka and Joe delve into the key considerations practitioners should make when choosing which direction to go, including the importance of assembling a team of experts, conducting due diligence, and setting realistic expectations. They also explore the advantages and disadvantages of purchasing an existing practice, such as gaining the established patient base and income stream and the potential drawbacks, such as a less ideal location, older office equipment, and existing staff challenges. Additionally, the podcast covers the benefits of starting a new practice, including the ability to choose location, equipment, and layout of the office and identify challenges, which include acquiring capital and the need to attract patients to build and support the practice financially.

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