Forms

Law Office of
STUART J. OBERMAN

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FORMS

Purchaser Checklist

The following is a list of items that need to be ordered or completed by the Purchaser when purchasing an eye care practice.

PRE CLOSING

Purchaser should review the Seller’s professional practice profile
Purchaser should complete an active patient count
Fee schedule review
Complete loan applications for down payment (or total purchase price) with at least two lending institutions
Complete a lien search
Review contracts
Establish Purchaser corporation and practice name to be used after the Closing Obtain required life and disability insurance for lenders
Obtain required liability insurance
Obtain required workers compensation insurance
Transfer or apply for electronic claims
Determine amount and due date of tenant deposit
Do an inspection of premises prior to closing
Complete on-line application for federal employer ID #
Complete applications for existing managed care plans
Open business bank account
Order account "Deposit Only" stamp
Apply for a credit card for business purchases only
Complete applications for merchant # for M/C, Visa, Discover
Obtain necessary city or county business license
Obtain copy of employee benefits from Seller
Obtain pro-rated vacation information from Seller
Order name, address and telephone number stamp
Order signature stamp and name only stamp

POST CLOSING

Transfer telephone service to Purchaser name
Transfer utilities from Seller to Purchaser
Obtain W-4 and I-9 forms from employees
Create an employee folder for each staff member
Obtain state new hire form from each employee, if applicable
Transfer white and yellow page listings to Purchaser
Transfer software license and support to Purchaser
Obtain back up procedures for current computer system
Computer system new/or replacement
Change federal ID # in computer software on Closing Date
W9 tax forms
Change provider codes to accommodate new A/R and provider numbers
Prepare letter announcements for all patient families and specialist in the area
Change answering service/machine to include Purchaser name
Order initial merchandise (dental supplies) for Purchaser
Prepare board notification letter for practice location
Order office signs to include Purchaser name
Order business cards for Purchaser
Order prescription forms for Purchaser
Order re-care postcards to include Purchaser name
Order letterhead and envelopes to include Purchaser name
Order Purchaser appointment cards
Order billing envelopes
Prepare welcome letter to new patients
Referral thank you cards
Obtain financial agreement forms (truth-in-lending)
Order appointment book to accommodate Purchaser unless computerized
Order patient charts and forms
Obtain applications for employment for all current and future employees
Create employee personnel manual
Set up accounts payable system for employer, including payroll
Create settlement sheet