Solutions for Buyers
Buying a medical practice can be the most stressful transaction
that a physician ever undertakes. The dollars and obligations
are big and the pitfalls are many.
It’s important to find the right advisory team and
consult before discussing price or other terms. Too often,
an attorney or advisor is consulted after the basic deal
terms have been discussed or agreed to, making it impossible
for the advisor to help on anything major. More dollars
can be squandered in a split second negotiation over price
than can ever be recovered when negotiating the fine print
of the legal documentation.
ProMed and its Affiliates will address all your questions
and concerns and walk along side you as you embark on your
journey. All aspects of a purchase are analyzed for the
best possible outcome.
Having a properly formed entity to serve as the foundation
of your wealth building enterprise is essential. Without
it, you will pay more taxes and expose your hard-earned
assets to the courts, the IRS, and realistically anyone
who is determined to serve you with a frivolous lawsuit.
So, what stops most professionals from establishing the
most tax-efficient, lawsuit-preventative, financially tested,
safe and secure way to protect assets? Confusion…should
I form a corporation or an LLC? Is an S-Corp better? How
many entities should I form? ProMed Solutions has discovered
the true advantages and disadvantages of each form of business
ownership. Click here to review the comparison of each entity.
ProMed Solutions and its affiliates represent over 40 of
America’s leading life, disability and casualty companies.
Our volume gives us an advantage which allows us to provide
the highest possible coverage for the least amount of premium.
The most frequently asked questions from our buyers are:
Questions 1: Will my lender require life,
disability, property & general liability insurance
to fund my loan?
Answer: In most cases buyers will be required to purchase
or assign their life, disability, property and general
liability insurance to the institution providing the loan.
Question 2: If I were to predecease my
family, how much income would they need if I was not there
to provide it for them?
Answer: ProMed Solutions can run a capital needs analysis
report which clearly illustrates emergency capital needs,
future income needs the survivors will face and breaks
down any capital shortages such as mortgage elimination
Question 3: If I became disabled how
would I generate income to provide for my family?
Answer: ProMed Solutions can run a disability capital
needs analysis report which clearly illustrates elimination
period, benefit period, maximum coverage, and cost of
living and residual disability. Note: each individual
policy should be reviewed to determine that the definition
of disability fits your occupation.
Question 4: Should my practice burn down,
how much coverage do I need to replace my assets?
Answer: ProMed Solutions and its affiliates help guide
you to determine your tangible assets so you can get the
coverage you need.
Questions 5: How can my insurance provide
Answer: Cash value policies have a very effective nature
whereby the cash value never goes backwards due to negative
market returns. This policy is specifically designed to
have a minimum death benefit and very low expense. If
you are in a high tax bracket this policy is an even better
tool because it distributes tax-free retirement income.
If your tax bracket is 40% during your retirement years,
dollar for dollar your buying power has increased due
to the fact that you are not paying tax when you withdraw
these funds. If we have an inflationary period and the
value of the dollar is reduced our dollar for dollar buying
power is increased. Click here to see how this type of
policy can benefit you.
Do you realize that every year thousands of families are
suddenly wiped out? One lawsuit can cost you everything
you own – your home, cars, business and personal assets,
retirement savings, investments – everything! Now
more than ever, the bitter facts of life require people
who have struggled to create financial security to take
extraordinary measures to protect their hard-earned wealth
from predators of all sorts. We live in the most litigious
society in history. You don’t want to be like the
vast majority of business and real property owners with
your assets fully exposed to anyone bringing a suit against
you. Click here to learn more about how to safeguard your
We look at strategies that protect the principle and provide
Our clients invest in non-traditional investments that are
not correlated to the stock market, affected by economic
downturns and are not based on future profitability of any
one group of company.
We have money managers who employ strategies in both a bull
and a bear market.
ProMed Solutions will help you learn about all the alternatives
so that you can choose the right strategy that will allow
you to create and keep personal wealth and retire with financial