It is not uncommon for insurance contracts to take time to be transferred from a buyer to a seller in a practice sale. Additionally, not all contracts can be transferred and a buyer may need to apply for a contract from scratch. This can delay a deal from closing. Many times instead of waiting for contracts to be issued/transferred, a interim services agreement is executed so that the deal can move forward and therapy services can remain uninteruppted.
Here is an attorney reviewed 6 page template of a typical Temporary Interim Administrative Services Argreement that spell out how they are typically structured for everyone’s mutual benefit.