DermCare will support your practice by providing a suite of services, management support and leading-edge resources. You’ll have a better chance to focus on patient care and drive continued success.
We understand the importance of continually building a reputation and brand legacy. When you partner with DermCare, you retain your practice’s name and have complete clinical autonomy. You can easily get started and begin your business’s new journey with a well-established support system behind you. Here are DermCare’s practice management steps to ensure you have the best operations administration.
When you transition to DermCare, the process can take between 6-8 months to complete. We spend the necessary time confirming both parties are suitable for each other, ensuring your practice benefits from DermCare’s services. Our process for partnering with DermCare consists of six steps, including:
1. Introductory Call
During the first call, we’ll discuss your practice, goals and reasons for selling. We also discuss what you would like to do after closing the deal.
2. Sign Mutual Confidentiality Agreements
After the initial call, you’ll share your practice’s financial information with us and sign confidentiality agreements.
3. Preliminary Due Diligence Phase
DermCare will review your financial information so we can properly evaluate your practice. We’ll also give you more details about DermCare and its acquisition process during this time. We care about your practice, so it’s vital to ensure both parties have the information they need to move forward with the partnership.
4. Sign Letter of Intent (LOI)
Once we’ve collected the information we need from the first due diligence phase, we’ll draft a letter of intent to explain the terms of the transaction. It’s a non-binding document that helps you understand our intentions of partnering with you.
5. Final Due Diligence
After our LOI, we’ll complete a more in-depth version of step three. We conduct several evaluations, including legal and accounting, to ensure your practice is up-to-date. We will also discuss the integration process and protocols for your practice.
6. Finalize Terms and Close the Deal
Once both groups are satisfied and comfortable with the negotiated conditions of the transaction, it will be time to seal the deal. After you sign the documents, we’ll wire cash proceeds to your financial institution so you have immediate access.
With the closed deal, DermCare will officially begin handling the operations management of your practice.