Find a custodian to hold your records after closing

March 10, 2012

Sometimes doctors have to shut down their practices. Learn what needs to be done when that happens.

Q: I plan to retire but have been unable to sell my practice. What do I need to do before I shut down my practice?

A: One of the most important things you need to do is to find a custodian for your practice's medical records, if possible, and document that custodianship in writing. The costs required to store, copy, and retrieve records can be several thousands of dollars over the coming years, even if you completely converted to an electronic health records system. If no local doctors will take your medical records, try a hospital. Other than that, the best way to not miss any details as you close your practice is to purchase a book with checklists on the topic, such as those offered by the American Medical Association or at http://Amazon.com/.