Best Practices for Selling your Medical Practice

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With all the upheaval in the insurance market, many smaller private physician groups are either selling or consolidating.  Albeit a big decision, it doesn’t have to be a painful one – the goal is to maximize the dollars and ease the transition for your staff and patients.

Before you consider the sale, you’ll need to determine what you want your role to be – will you retire, stay on as a staff physician, take on management and/or leadership roles – or a combination there of?  Of course this is just some high-level personal things to consider, there are others such as business real property, equipment and other tangible items and employee benefits and everything in between.

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Health Care and the Future of Remote Care

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Health Care has been the essentially the same for decades. You call a doctor, make an appointment, and then visit their office to get your issues addressed. Whether it’s for being sick or just routine care, the process is pretty much the same. It’s an in-person, at-the-office experience for more or less everyone. We take time off of work, drive to the doctor’s office, and spend at least an hour or two out of our day for the process. But with advances in technology and more and more things being done online or remotely – is that the new future of health care?  For some, it will become the norm. 

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Health Care Marketing – What Works Best?

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It’s not news to anyone living in the U.S. that our health care system is changing, evolving, and moving at lightning speed.  With rampant consolidations, rise in consumer health care costs, and the emergence of MedTech and online doctors – how do health care providers keep the customers they have and woo new ones? 

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Handling the Manufacturing Skilled Worker Shortage

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In an age where technology is moving at a mile a minute, it’s not surprising that many young adults entering the work force are focusing on jobs in technology. However, the change in focus is leaving a shortage in many fields including manufacturing. What was once a top career option for individuals opting not to go for a four year college degree, is no longer seen as a viable career path for Millennials and Generation Z. It’s estimated that 2.4 million manufacturing jobs could go unfilled between now and 2028, according to a study from the association and the consultancy firm Deloitte. Continue reading “Handling the Manufacturing Skilled Worker Shortage”

Are you automating your business?

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One thing you can never create more of is time. It can be very difficult to grow your business when you lack time and resources, especially if you are a small business with limited staff. One of the easiest ways to free up time is to automate your business. This is where the adage of working smarter and not harder comes into place – by using technology.

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Keeping up with Technology – the struggle is REAL!

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If you subscribe to our emails (you can sign up here), you’ve probably seen a lot of information over the past year about security updates, fraud alerts, and the ways in which Litchfield Bancorp is constantly making upgrades in order to better serve you and keep your information safe. It’s not an easy job to keep up with technology and its rapid pace, but it’s a necessity that we take very seriously here at the bank. Continue reading “Keeping up with Technology – the struggle is REAL!”