Those that know me have no doubt heard my rant from the soap box about having plans in place to manage the transition of your practice in the event something unexpected happens to you. We seem to average about one crisis call a year. We’ve had two calls so far in 2018 so this is a very real thing. This last one was personal. Dr. Dennis Myers was not only a hard working and dedicated guy who never stopped trying to expand his knowledge and skills, he was also a close friend with a huge heart who was a source of joy to me and my family.
Unfortunately, that heart misfired on the afternoon of June 2nd and by the following morning had ceased to function. He was 72 years old and his memorial service was held on June 8th. While no one is likely ever perfectly prepared for sudden death, Dennis did one thing that had a profound effect on his patients, staff and estate. He signed a Memo of Direction which allowed us to cut through the red tape of his trust, probate and estate and get busy with the valuation of his practice. Consequently, the Buyer’s Prospectus was prepared and the practice was on the market NINE days after his death.
Subsequently, we were able to attract the attention of Dr. Mark Beard and the sale of Dr. Myer’s practice was closed on October 1st. Dr. Mark is a quality guy and I know Dennis would be pleased with the outcome of his tragedy.
Below is our Memo of Direction. It’s a WORD document you can change so whether you leave our name in place or substitute someone else, please do your family and estate a favor and fill one out and leave copies with your personal papers, spouse, executor and attorney. Practices do not survive very long if the doors are closed, staff members are looking for new jobs and your patients are being seen somewhere else. Don’t let your life’s work dissolve as a result of not taking five minutes to take care of business.