While as homeopaths we focus a lot of energy and resources on establishing our practice, we rarely give much thought to closing our practice.
The reasons for closure of a clinical practice can be varied. Closing a practice can involve certain legalities and personal considerations which you, the homeopathic practitioner, may not have given thought to.
This AHA Guide to closing a homeopathic practice is not an exhaustive treatment of this subject matter. Rather it is a resource you can use to assist you in closing your practice or, just as importantly, planning ahead for that eventuality.
One last piece of timely advice. When closing your practice for any reason, be sure to consult well ahead of time with any professional whose advice you may need to steer you through the process smoothly. Three such professionals, as will be discussed below, are a solicitor, accountant and insurance provider.
Reasons for practice closure
Conscious decision
You may make a clear decision to close your practice. This happens frequently and can be precipitated by events such as change of residential location, extended period of leave, retirement or change of career.
Unexpected, life-changing circumstances
Life can produce varied unforeseen scenarios which can affect one’s ability to continue previous employment. Situations such as grief and loss (requiring leave of absence), permanent injury or long-term illness (of you or a loved one), change in leasing arrangements, financial loss (not necessarily related to the practice) or criminal conviction are just some examples of scenarios that can dramatically affect your ability to practise.
Practitioner death (sudden or expected)
Your sudden death will result in you, among other things, leaving behind a functioning homeopathic practice. Planning ahead is important for a number of business-related, legal and ethical reasons.
Succession planning
https://business.gov.au/planning/business-plans/develop-your-succession-plan
Professional Obligations
Communicating with patients
When you make the decision to provide health care for a patient a professional relationship is established. If you intend to close your practice then patients are entitled to reasonable notice and referral options to other homeopathic practitioners. If you intend to sell your practice, then again patients are entitled to be notified of this well ahead of you leaving.
Communicating with your registration body and/or association
Notify your professional register and association of the change to your practice circumstances.
Medical records
The keeping of patient medical records in Australia is subject to various government regulations. Medical records should be kept for a minimum of 7 years after the last practitioner-patient consult. Records relating to the treatment of children should be kept for at least 25 years from the date of birth. This is because in most jurisdictions a child may commence legal action 3 years after attaining adulthood, that is, age 18. Please refer to the section on Privacy and confidentiality on this website.
Insurance
You should contact your insurer to discuss with them any insurance matters related to the closure of your practice.
Business records
The Australian Taxation Office (ATO) has regulations regarding the keeping of business records, even after the closure of a business. Ring the ATO to ascertain what you may need to do in this regard.
Accountant
Notify your accountant well before you close your practice. They will be able to guide you through any matters that need to be dealt with from an accounting point of view.