Sale of a Medical Practice
The WSMA believes that a physician or the estate of a deceased physician
may sell to another physician the elements which comprise their practice,
such as furniture, fixture, equipment, office leasehold and goodwill. In
the sale of a medical practice, the purchaser is buying not only furniture
and fixtures, but also good will, i.e., the opportunity to take over the
patients of the seller. The WSMA understand the transfer of records of
patients to be subject to the following: 1) all active patients should be
notified that the physician (or their estate) is transferring the practice
to another physician who will retain custody of their records and that at
their written request, within a reasonable time as specified in the
notice, the records or copies will be sent to any other physician of their
choice; 2) a reasonable charge may be made for the cost of duplicating
records; 3) a physician or their estate who is selling their practice may
not ethically sell their patients' records to another physician. (JC
7.04087) (Reaffirmed A-23)
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Abbreviations for House of Delegates report origination:
EC – Executive Committee; BT – Board of Trustees; CPA – Council on
Professional Affairs; JC – Judicial Council; CHS – Community and Health
Services