When you find yourself in the position to engage in the process of buying or selling a healthcare business, such as an ambulatory surgery center (ASC), radiation oncology center or urgent care center, one of the first things to consider is who should be included on the team of people involved in the transaction. One of the most important members of that team will be the healthcare transactions lawyer.
How do you go about finding an attorney for your particular healthcare transaction?
There are a number of ways to do this. Here, three basic steps have been broken down to aid in finding and hiring the right healthcare transaction lawyer.
Step 1: Research
The first step is simple: research, research, research. The best way to ensure you have the attorney who is the best equipped for your unique situation is to do your homework. Consult reference sites like HealthcareTransactionLawyers.com in order to find informative articles as well as background information about those who are in the field. Educate yourself on what should be expected in terms of the cost and experience of different healthcare transactions lawyers (see Healthcare Transactions Lawyers: What You Need to Know for more insight).
Doing such research will allow you to better prepare for meeting with your potential lawyer. It will give you the information you need to draw up questions and other talking points that should be discussed prior to bringing an attorney officially on board. A level of comfort is also achieved when you have a better understanding of what is to be expected in response to your questions.
Another reason to do research is to make sure the person you are considering truly specializes in the field. A lawyer may list that he or she works on healthcare transactions, but they might predominately on other matters. You can look at examples of the work they’ve been involved in to make sure the attorney is truly someone who practices primarily in healthcare transactional matters. Often, lawyers will have profiles on their firm’s website that can serve as a resource.
Our directory is also a great tool for this. There you are guaranteed to find attorneys who specialize in healthcare transactions. In addition, if you are unsure of whether someone would be a good fit for your situation, you can always ask an expert for recommendations.
Step 2: Interview
After the preliminary research has been completed, an interview with the lawyer should be arranged to help you determine if he or she will be the best fit for your situation. As previously mentioned, a list of questions should be prepared to ensure you cover all potential concerns and areas that might need clarification.
There are specific qualities and areas of experience that you should look for in a healthcare transactions lawyer. It is essential to have someone with good communication skills and who possesses clear, demonstrable knowledge of the rules and regulations applicable to your transaction. You also want to find someone that you can connect with. This doesn’t mean you should ignore practicalities, such as the cost of engaging the person for the transaction, but cost should be lower on your list of priorities.
Step 3: Decide and Engage
Depending on how the interviewing process goes, the last step can prove to be the simplest: hire the lawyer.
Overall, the most significant element is that of researching. If you’ve done your homework, the rest should fall into place and you will find yourself with a healthcare transaction lawyer who is well qualified and equipped to help you navigate through the regulations and legalities of the transaction.