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Thread: OD MD Relationship

  1. #1
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    OD MD Relationship

    I was recently informed that the Ophthalmologist who I bought his optical practice from 6 years agod is looking to sell his practice. He is in his mid-fifties and is look towards retirement. Our current situation is such that we have a shared waiting room and he refers probably 30% or more of my patients to me. The issue is that the Group Practice that has approached him has 5 doctors, their own Optometrists and dispensary. As you can see this is a big problem. I spoke with the MD about the matter and he was very surprised that I would have any concerns and didn't see how that would affect me. To which I responded your kidding right. Then he commented that maybe they would buy me out also. So I am trying to sort thru my options. One would be to move. Which isn't an option because the current market is saturated with Optometrists I currently have a patient base of about 8000 with a 85 to 90 percent living in coming from this area. Option two would be to sell to the buying MD practice. I'm not selling. I have a satelite office that I opened about 3 years ago. In my state it is legal for Optometrist to buy out Ophthalmologist. Which maybe an option but I have not discussed with the MD but I am not sure if I could do financially (this has always been my long term goal) Four would be another Ophthalmologist buy his practice and the relationship stay similar to what it is now.

    Help

  2. #2
    Master OptiBoarder ziggy's Avatar
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    I would go with 4. That is if you have an MD in mind. Is going with the group that bad.
    Paul:cheers:

  3. #3
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    Ziggy

    Thanks for your response.. Going with the group would be bad for me for a few reasons. One they have staff OD's and I would loose control of how I want my practice to grow in the future and a definite loss of income.

    There has been another MD (a friend of mine) shown interest but the selling MD is luke warm at best with that notion. The came out at about the same time the intereested MD has a huge pratice my number and volume so I think there are some jealousy issues.

  4. #4
    Master OptiBoarder ziggy's Avatar
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    Good luck, it's a tight rope act no matter if your an OD, MD, or a LDO. Lets us know how it comes out.
    Paul:cheers:

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