Closing a Medical Practice Checklist: Notices and Records

Short answer

To close a medical practice, start about a year out with your attorney, accountant and lease; settle the records plan six months out; notify patients at least 60 days before closing (some states set their own minimum); and tell staff, payers, hospitals, the state board and the DEA. buy tail coverage if your carrier says you need it, name a records custodian, keep bank accounts open 60 to 90 days after closing, then dissolve the entity. Each step below is sourced to an insurer, medical association, board or federal rule.

Malpractice carriers time the work from 12 months out; patient letters go at least 60 days before the last day.
State rules set some minimums: Florida newspaper notice for four weeks, New Hampshire 30 days, Georgia dentists 14 days.
The DEA must be told promptly when you discontinue practice, and the registration certificate returned.
Records are the longest tail of a closure: custody, retention and patient access run for years after the doors shut.

How to close a medical practice

Closing a medical practice means ending care safely for every patient, giving the notices the law and your contracts require, arranging custody of the records for years, and winding up the business. SVMIC, a malpractice insurer, starts its checklist at "1 Year Prior" (SVMIC); The Doctors Company says to "Send the notice at least 60 days prior to the anticipated closure" (The Doctors Company).

This page is general information, not legal or medical advice; state law varies, so confirm each rule with your counsel, your malpractice carrier or your state board.

Selling instead of closing? Read practice valuation first: a sale keeps the records with a buyer and changes most of the steps below.

Closing a medical practice checklist

The steps in the order most guides give them, each with its source:

#	Step	When	What to do	Source
1	Advisers and lease	12 months	Contact your accountant and attorney; review the office lease and the termination terms	SVMIC
2	Records plan	6 months	Get your state's rules; decide what can be destroyed and who will be custodian of the rest	SVMIC
3	Payer contracts	6 months	Check each insurance contract for its termination method and notice period	SVMIC
4	Staff	3 months	Tell staff; ask one person to stay 60 to 90 days after closing for phones and records requests	SVMIC
5	Patients	60 to 90 days	Letter to active patients with the closing date, options for care, where records will be kept, and an authorization form	The Doctors Company; AAFP
6	New patients and scheduling	From the announcement	"No new patients should be accepted once the closing date is announced."	AAFP
7	Payers	60 to 90 days	"Provide payers with a forwarding address to send payments that resolve after the office closes."	AAFP
8	State board	Before and after closing	File the board's forms and tell it where records are stored; Florida requires the notice within one month	AAFP; Fla. 64B8-10.002
9	DEA and drugs	Before closing	Notify the DEA, return the registration certificate and unused order forms, dispose of drugs, destroy prescription pads	21 CFR 1301.52; AAFP
10	Medicare and NPI	At closing	Deactivate Medicare enrollment in PECOS and update NPPES	The Doctors Company
11	Malpractice tail	Before the policy ends	Obtain tail coverage if needed, "which provides coverage against claims reported after the liability policy expires"	AAFP
12	Final billing	Last 3 months and after	Collect receivables; keep bank accounts open 60 to 90 days after closing; pay final bills	SVMIC
13	Employees' records	Last day	Give employees their OSHA employee medical records	SVMIC
14	Equipment	Last 3 months	Sell or donate equipment; check state rules for selling or disposing of imaging equipment	SVMIC; The Doctors Company
15	Dissolve the entity	After final returns	File final returns and dissolve the professional entity	The Doctors Company

For dissolution itself, see how to dissolve an LLC or dissolve a corporation, and the general closing a business checklist for tax and payroll steps.

Timeline for closing a practice: months before closing

The same steps on a calendar. Move every date earlier if your state or payer contracts require longer notice.

When	Main tasks
12 months before	Attorney and accountant; office lease reviewed and landlord told
6 months before	State records rules; destruction plan; custodian chosen; payer contract notice periods checked
3 months before	Staff told; malpractice carrier told and tail coverage bought if required; patient letter (SVMIC recommends sending 3 months out, 30 days at the minimum); equipment inventoried
60 to 90 days before	Patient letters sent; payers, hospitals, referring doctors and suppliers told; no new patients
Closing day	Prescription pads destroyed; DEA certificate returned; employees given their OSHA medical records
After closing	Staff member and phone line kept 60 to 90 days; bank accounts open 60 to 90 days; board told where records are; Medicare and NPI updated; entity dissolved

Source: SVMIC: Closing your practice timeline and checklist

The records steps in detail

Records outlast every other part of a closure, so plan them first. In order:

Notify patients and offer copies. SVMIC says to send the letter to "active patients seen within the last 36 months" (SVMIC). The Doctors Company suggests enclosing an authorization form so patients can have copies sent to a new doctor, and warns: "Do not give original records to patients." (The Doctors Company).
Meet your state's notice rule. Florida requires newspaper notice "once during each week for four (4) consecutive weeks" (Fla. 64B8-10.002); New Hampshire asks for 30 days' notice whenever possible (N.H. Med 501.02).
Inventory the charts. "Medical records should be inventoried prior to transfer or storage, and the physician should retain a copy of the inventory." (The Doctors Company).
Choose a custodian and sign a written agreement. The custodian guide covers who can act, published prices, and what the agreement should say.
Set the retention period for each record type: adults, minors, imaging and Medicare Advantage patients. Use the state retention table.
Tell the board where the records are and give patients a lasting address. The AAFP says to "Establish a mailing address or PO Box for medical record requests after closing." (AAFP).

Closing a dental practice

Dental boards set their own notice and custody rules, which can differ from the medical board's. Examples:

Georgia: "Notice shall be sent to all current patients at least fourteen (14) days in advance", and must include "A means for the patient to obtain a copy of his/her dental records." The board also suggests "waiting a minimum of ninety (90) days to allow patients to obtain their records prior to any final disposition", and only a licensed Georgia dentist may keep custody (Georgia Board of Dentistry).
Texas: a dental clinic "shall designate a licensed Texas dentist as the dental custodian of records" (22 TAC 108.72).
Massachusetts: if a dentist dies, "the estate may notify patients treated within the two years prior to the date of passing" (234 CMR 5.13).
Retention periods for dental records, from 4 to 10 years in the states we read, are in how long to keep dental records.

Closing a practice after the physician dies

When a practice closes because the physician dies, continuity of care comes first, then the same steps. The Doctors Company's emergency list starts with transferring all inpatient care to another physician immediately (The Doctors Company). The estate usually becomes custodian: Massachusetts requires the executor or administrator to keep records "for a minimum period of seven years from the date of the last patient encounter" (243 CMR 2.07). Patients may be directed to the probate court to find the executor, as the Georgia medical board suggests (Georgia Composite Medical Board).

Before records go to storage: check their licensing value

Once charts and images are boxed for a custodian, making a de-identified copy becomes harder and costlier, so check first. Identifiable records cannot be sold without patient authorization, but HIPAA-de-identified data can be licensed for research or AI (45 CFR 164.502).

De-identified patient records do get licensed. Tempus AI reported in its SEC filing for the quarter ended 30 September 2026 that a licensee will pay data license fees of $100 per delivered record, up to $50 million, for 500,000 de-identified records of patients with Alzheimer's disease or other specified neurological conditions (Tempus 10-Q). That deal is between large companies, not a single practice.

Most small practices will not qualify on volume alone. The one priced deal above covers 500,000 records, far more than a solo office holds, and Origin has found no published sale by a single small practice. A specialty, a long history or imaging linked to signed reports can still make a set worth a look (what makes patient records licensable), which is why a check before records go to storage is worth a few minutes.

See licensing patient records, licensing medical imaging data, and practice valuation if a sale is still possible.

Next step

Keep this checklist with the custodian guide and the retention table, and record who owns what in who owns patient records.

Does your company hold records like these? See what your data is worth.

Common questions

How far in advance should I start planning to close my medical practice?

About a year. SVMIC's closing timeline starts 12 months out with your accountant, attorney and lease, settles the records plan six months out, and has patient letters drafted three months out. The Doctors Company says to send patient notices at least 60 days before closing; some states set their own minimums.

How much notice do I have to give patients when closing a medical practice?

It depends on the state and your insurer. The Doctors Company advises at least 60 days, and SVMIC recommends three months with 30 days as the minimum. New Hampshire asks for 30 days whenever possible, and Florida requires newspaper notice once a week for four consecutive weeks.

Do I need to notify the DEA when I close my medical practice?

Yes. Under 21 CFR 1301.52, a registrant who discontinues professional practice must notify the DEA promptly, and the registration ends. If you are not transferring the controlled-substance business, return the certificate and any unexecuted order forms, dispose of drugs under DEA rules and destroy prescription pads.

Do I need tail coverage when closing a medical practice?

Often, yes. The AAFP checklist tells closing physicians to obtain tail coverage if necessary, because it covers claims reported after the liability policy expires, and SVMIC lists buying tail coverage, if required, among the steps three months before closing. Ask your carrier whether your policy needs it and what it costs.

What should I do with patient records when closing a small dental practice?

Follow your dental board's rules. Georgia requires 14 days' notice to current patients with a way to get copies, suggests waiting 90 days before final disposition, and lets only a licensed Georgia dentist keep custody. Texas requires clinics to name a licensed dentist as custodian. Keep records for your state's period.

Who handles patient records if a doctor dies before closing the practice?

Usually the estate. Massachusetts requires the executor or administrator to keep records for at least seven years from the last encounter. The estate can store them, pass them to a successor physician, or hire a custodian service under a written agreement. Inpatient care should be transferred to another physician immediately.

Should a closing practice check whether its patient records or imaging have licensing value?

Yes, before records go into storage, because a de-identified copy is easier to make while systems are still running. Identifiable records cannot be sold without authorization, but de-identified records are sometimes licensed. Most small practices will not qualify on volume alone, so treat it as a quick check.

Sources and further reading

Origin Data Partners is an independent data partner. We work with buyers, and a buyer may pay us when a deal closes.