Retirement or Sale of a Practice Checklist

How do I update my address or phone number?
You may update change your information in several ways: 

• Call AMA Member Relations at (800) 262-3211
• Visit the AMA Online Data Collection Center
• If the physician has practiced under a name other than his or her own (e.g., "Doctor's Westside Clinic"), he or she should have filed an assumed name certificate with the county clerk. The physician should contact the county clerk to deactivate this assumed name if he or she is closing the practice without a buyer or if someone else is assuming the practice under that name. 
• If the physician is in solo practice as a professional association, a lawyer must file "Articles of Dissolution" with the Texas Secretary of State's Office in Austin. In addition, a lawyer or accountant should contact the comptroller of public accounts to pay any annual franchise taxes that may be due. 
• If the physician and other physicians have practiced as a professional association and the professional association will continue in existence after the physician's retirement or departure, shares of ownership must be transferred to another physician licensed in Texas. A lawyer should be consulted for this matter. 
• If the physician and other physicians have been practicing as a partnership (or have had an operating agreement like a partnership to share office space) and the partnership will continue after the physician's retirement or departure, then withdrawing from the partnership or otherwise transferring the partnership interest is necessary. The departing physician should consult a lawyer regarding this matter. 
• If the physician has operated X-ray and/or mammography equipment in the office, the physician holds a license from the Texas Department of Health and must maintain a record of the transfer or disposal of such equipment. For details, contact:
  

  Texas Department of State Health Services
  Radiation Control Program MC 2835
  Texas Department of State Health Services 
  P. O. Box 149347 
  Austin, Texas 78714-9347
  (512) 834-6688

• Send written notification of retirement or a change of practice address to Medicare and Medicaid. Include the effective date of the retirement or address change. Information may be sent to the following addresses:
  
  Medicare:
  Physicians that will continue to order or refer services for Medicare or Medicaid patients, after retirement (i.e. volunteer work, vacation coverage), should be aware that both Medicare and Medicaid plan to implement ordering and referring requirements. When the ordering/referring requirements are implemented, the ordering/referring physician must be enrolled in Medicare and Medicaid, in order for the rendering provider to receive payment. For more information, please see the links below:
  
  CMS: Ordering/Referring Information
  http://www.cms.gov/Medicare/Provider-Enrollment-and-Certification/MedicareProviderSupEnroll/MedicareOrderingandReferring.html
  
  Texas Medicaid Provider Procedures Manual – Section 1 Provider Enrollment
  http://www.tmhp.com/TMHP_File_Library/Provider_Manuals/TMPPM/2013/July2013_TMPPM-PDF.pdf
  
  Medicare retirement notification:

  Physicians should submit a voluntary withdrawal via internet based PECOS or by submitting the appropriate 855 application.

  Effective 7/29/13, paper applications may be submitted to: 

  JH (Part A & B) Provider Enrollment Services
  P.O. 3095
  Mechanicsburg, PA  17055-1813
  

  Medicare Resources:
  
  Novitas Enrollment Center
  https://www.novitas-solutions.com/enrollment/index.html
  
  Enrollment Guide
  https://www.novitas-solutions.com/enrollment/guide/chapter5.html#5.8
  
  

  Medicaid:
  http://www.tmhp.com/TMHP_File_Library/Provider_Manuals/TMPPM/2013/Jan2013_TMPPM.pdf
  1.4.2  Provider Status (Individual, Group, Performing Provider, or Facility)
  Providers leaving group practices must send a signed letter or a Provider Information Change Form to TMHP that states the date of deactivation. The letter should include the provider identifier, effective date of deactivation, and the group’s provider identifier. The letter should be signed by an authorized representative of the group or the individual provider leaving the group. If the provider is joining a new group practice or enrolling as an individual, the provider must complete and submit a new Texas Medicaid Provider Enrollment Application to request enrollment in the new group or as an individual provider.
  

  Provider Change of Information Form
  http://www.tmhp.com/Provider_Forms/Provider%20Enrollment/Provider-Information-Change-Form.pdf

  The address and fax to send enrollment changes:
  Texas Medicaid & Healthcare Partnership (TMHP) Provider Enrollment
  PO Box 200795
  Austin, TX 78720-0795
  Fax: 512-514-4214  

  Tricare South (Humana Military Healthcare Services):
  Contract Network Providers
  (800) 444-5445 

• Advise professional liability insurance carrier of the physician's change in status. If the physician has a "claims made" policy, consider purchasing additional insurance to cover claims that may be filed after the coverage lapses. (This additional insurance is known as a "tail policy.") If the physician will be practicing part-time, insurance coverage may still be advisable. (See "TMA Insurance Information for Physicians Who Plan to Retire,") The Texas Medical Liability Trust maintains a liability insurance hotline to assist physicians in determining their insurance needs: (800) 880-8658.

• Information on life, health, disability, and office overhead coverage also is available to TMA members through the Texas Medical Association Insurance Trust, 401 W. 15th St., Austin, TX 78701-1680; (800) 880-8181.
  
  For more information about the process, read Closing or Selling Your Medical Practice. 

NOTICE: The Texas Medical Association provides this information with the express understanding that 1) no attorney-client relationship exists, 2) neither TMA nor its attorneys are engaged in providing legal advice and 3) that the information is of a general character. This is not a substitute for the advice of an attorney. While every effort is made to ensure that content is complete, accurate and timely, TMA cannot guarantee the accuracy and totality of the information contained in this publication and assumes no legal responsibility for loss or damages resulting from the use of this content. You should not rely on this information when dealing with personal legal matters; rather legal advice from retained legal counsel should be sought.

NOTICE:  

PLEASE CHECK THE TEXAS MEDICAL BOARD WEBSITE (http://www.tmb.state.tx.us/page/board-rules) FOR CURRENT UPDATES ON ITS RULES AND POLICIES WITH RESPECT TO THIS ISSUE.