Ensure a smooth, compliant, and orderly closure of a medical practice while protecting patients, the physician, and all financial/legal obligations.
60–180 days depending on scope
This comprehensive service manages the critical steps required for the compliant and strategic closure of a medical practice.
Key Entity & Payer Notification: Proactively inform all required governmental, regulatory, and financial entities, including the Drug Enforcement Agency (DEA), State Licensing/Medical Boards, professional associations, contracted health insurance companies (public and private payers), and affiliated hospitals where providers hold privileges.
Referral Network Communication: Officially notify referring physicians, specialists, and ancillary service providers (labs, MRI facilities) to ensure seamless continuity of patient care transition.
Public and Patient Disclosure: Manage the compliant public notification process, including publishing required advertisements in local newspapers and posting clear signage within the office premises.
Vendor and Utility Discontinuation: Coordinate with all vendors, service contract providers, and utility companies (EHR, electric, phone, etc.) to arrange for timely service discontinuation and settlement of final statements.
Staff Management & Transition: Execute a sensitive and compliant employee communication plan, including organizing staff meetings, preparing for potential temporary staff needs, and structuring retention incentives for key employees remaining until the closure date.
Patient Transition and Communication: Manage the wind-down of patient services by ceasing to accept new patients and restricting non-emergent appointments. Oversee the preparation and certified mailing of the mandatory patient notification letter, which must include the closure date, records release forms, and options for continued care. Ensure a corresponding notice is posted and maintained on the practice website.
Financial and Insurance Closeout: Secure the practice’s financial and liability standing by arranging for "tail" malpractice coverage with the professional liability carrier. Review, update, and cancel all other business insurance policies. Aggressively process accounts receivable (A/R) to collect outstanding money owed, notify all suppliers for final statements, and maintain the business bank account for 2-3 months to settle final invoices.
Legal, Tax, and Lease Obligations: Collaborate with the practice’s attorney and accountant to ensure all state and federal obligations (e.g., corporate dissolution, franchise taxes) are met. Handle reporting to state employment agencies and manage the commercial lease agreement to negotiate termination terms or ensure compliance with a "release" clause.
Compliant Medical Records Security: Arrange for the secure and compliant storage of all paper and electronic medical records, adhering to state law and HIPAA retention requirements. This includes notifying the state medical board of the secure storage location and establishing a dedicated mailing address or PO Box for future record requests. Retain original medical records as legally required (typically 10 years or based on the statute of limitations).
Business Records Retention: Manage the retention of all necessary business records, including tax returns, personnel files, contracts, and financial records (typically seven years), and HIPAA documentation (six years).
Controlled Substance & Medication Disposal: Facilitate the legal disposal of prescription drugs and contact drug representatives for the return or disposal of unused samples. Ensure the secure destruction of all prescription pads.
Asset Liquidation and Data Destruction: Develop a plan to sell, lease, or donate office and medical equipment. Oversee the professional reformatting or destruction of hard drives on all practice computers containing Protected Health Information (PHI). Arrange for the professional shredding of any physical destroyed records and obtain formal Certificates of Destruction
Post-Closure Communication: Coordinate mail forwarding with the U.S. Postal Service and arrange for an answering service or messaging solution for the office phone line after the final date of operation.
| Phase | Service Category Name | What We Do (A Summary) |
|---|---|---|
| 1. | Starting a New Medical Practice | Starting a new medical practice requires careful planning, compliance, and operational setup. PractiCons provides full-service startup support including licensing, credentialing, billing, compliance, and systems setup—ensuring your practice launches smoothly, efficiently, and revenue-ready from day one. |
| 2. | Consulting & Practice Management | PractiCons provides expert medical consulting and practice management services to help healthcare providers improve operations, control costs, and increase profitability. We analyze workflows, financial performance, and systems to optimize efficiency, compliance, and long-term practice growth. |
| 3. | Credentialing & Contracting | PractiCons provides comprehensive credentialing and payer contracting services to ensure providers are properly enrolled, compliant, and reimbursed without delays. We manage CAQH, Medicare, commercial payers, and contract negotiations to optimize reimbursement and maintain uninterrupted revenue flow. |
| 4. | HR & Payroll | PractiCons provides comprehensive HR and payroll services designed for medical practices. We manage hiring support, employee documentation, compliance training, payroll setup, and ongoing processing—helping practices reduce risk, support staff performance, and maintain full state and federal compliance. |
| 5. | Marketing & Digital Growth | PractiCons delivers data-driven marketing and digital growth services for medical practices. We help providers attract new patients, strengthen brand visibility, and grow online through SEO, websites, paid advertising, reputation management, and ongoing performance-driven digital strategy. |
| 6. | Virtual Call Center | PractiCons provides virtual call center services for medical practices, delivering reliable front-office and administrative support. We manage patient calls, scheduling, authorizations, documentation, and RPM/CCM coordination to reduce staff burden, improve efficiency, and enhance patient experience. |
| 7. | Revenue Cycle Management | PractiCons delivers end-to-end Revenue Cycle Management services that optimize billing, reduce denials, and accelerate payments. We design compliant workflows, manage claims and collections, and provide financial oversight to help medical practices improve cash flow and long-term revenue performance. |
| 8. | Compliance | PractiCons provides comprehensive compliance and licensing management services to help medical practices meet all state and federal requirements. We manage provider credentials, licenses, permits, renewals, and documentation to prevent penalties, reduce risk, and ensure uninterrupted operations—so providers can focus on patient care. |
| 9. | Closing a Medical Practice (Retirement, Relocation, Disability) | PractiCons provides end-to-end medical practice closure services to ensure a smooth, compliant, and well-managed transition. We handle regulatory notifications, patient communication, records retention, financial closeout, and HIPAA compliance—reducing risk, protecting patients, and easing the administrative burden for physicians. |
| 10. | Special Projects | PractiCons Special Projects provide expert support for high-value, non-routine compliance, IT, and administrative initiatives. We manage audits, coding transitions, HIPAA programs, reporting, and technology coordination—reducing risk, strengthening documentation, and ensuring projects are completed accurately and on time. |
Looking to simplify billing, improve collections, or reduce admin stress? Get in touch for a free consultation with PractiCons — trusted experts in medical billing and healthcare business management.
Disclaimer: PractiCons Inc. is not a law firm and does not provide legal advice. All materials and communications are for informational purposes only. Please consult your attorney for advice specific to your situation.
