Closing a Practice

Closing a Practice on Short Notice: What All Psychiatrists and Their Families Should Know

This valuable guide was written by APA to assist you, you family, and colleagues with planning and risk-management tips in the event of an unforeseen, emergency closing of your practice.

Please note that while it has proven useful for its comprehensive coverage, this guide does not specifically cover matters pertaining to a planned closure, transfer, or sale of a clinical practice or other matters applicable to retirees. Also, the guide is not intended to replace the advice of a lawyer who has expertise in either emergency closings or planned closings. Legal and financial advice should be accessed, within a timetable to suit the individual circumstances.

In addition to speaking with your lawyer and risk insurance carrier, embers should also contact the state medical board and local APA district branch/state association for important information on local statutes and regulations covering these topics.

The American Medical Association also has available for purchase several publications that cover buying, selling, transferring, owning, and assessing the value of a clinical practice. Titles are part of the Practice Success Series shown in its online catalog.

Practice Management HelpLine

If you are an APA member and need assistance with practice management issues, please contact the HelpLine.

Learn More