Monday, October 25, 2010

Selling Family Medical Practice - Long Island New York

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Selling a medical practice in Long Island New York. Well established primary care practice collecting ~1,500,000+ in revenue annually. Also provides a host of ancillary services and respiratory therapy. High quality of care has contribute to the practice growth. Strong referral base from other local physicians. Buyer has the option of retaining the practice seller for long term transition period following the sale. Medical practice purchase financing is available for qualified buyer.

Saturday, October 23, 2010

Book Review: Guide to Healthcare Valuation (2010 Edition)

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I am currently reading the Guide to Healthcare Valuation (2010 Edition), published by Business Valuation Resources (BVR) and the American Health Lawyer’s Association (AHLA). This is a great resource written by Dietrich and a number of other experienced authors. They cover a wide array of healthcare valuation topics and industry subsectors; it’s hard to find this collective wisdom all in one place. The book is thick…921 pages inclusive of appendices. A valuation book of this size typically means you’re in for a monster technical read, but this book is refreshingly different. There are plenty of practical insights and applications offered by multiple authors over diverse chapters. I was impressed by the 2009 edition of this book, which I would also recommend, and the 2010 edition clearly builds on the first issue in a major way. As I get through more of the book I’ll update this blog with reviews about specific topics and chapters. I’m especially looking forward to the chapters devoted to ambulatory surgery, dialysis, home health, and imaging. Stay tuned.

Friday, October 22, 2010

Using a medical practice appraisal

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New article about the use of a medical practice appraisal
I've written a Q&A article about the application of a medical practice appraisal when involved in the purchase or sale of a medical practice. A clear approach and expectation when going through the valuation process can be of great assistance when negotiating a deal. You can find the article on our website.

Q&A from the Institute of Business Appraisers

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Great article on the Institute of Business Appraisers website entitled "Building on a History of Excellence – A Discussion with IBA Headquarters on the Future of Business Valuation in the United States". Great information about leadership, standards, and trends within the business valuation community. Visit IBA's News blog to read the entire Howard Lewis interview.

Monday, October 11, 2010

Ophthalmology Practice for Sale: JUST SOLD

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SOLD: Ophthalmology practice in Orange County. We just complete the sale of this long established general ophthalmology practice. This practice is located in a popular beach community of Orange County, Southern California. Gross collections of $1,500,000+ annually on part-time physician coverage by the seller. Much growth potential realizable through expanding the scope and coverage of the practice. Payor Mix: PPO: 44% Medicare: 25% Cash: 18% VSP: 8% HMO: 2% Other insurance: 3%. Optometrist and optician are also employed in the practice. Retiring seller is providing transition assistance.

Sunday, October 10, 2010

Medical Practice for Sale

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Medical practice for sale in the Lake Tahoe area on the border of California and Nevada. This is a primary care practice providing a variety of services including cosmetic and aesthetic procedures (e.g. vein & hair removal and acne treatment). Long established outfit providing office based internal medicine care as well as allergy testing and treatment. Robust income with gross collections averaging $700,000k+ annually and a high net income. Primarily Medicare and PPO insurance with no Medicaid or HMO. The practice is fully equipped and has highly trained staff as well as an EMR System. Medical practice seller will assist new buyer with transition assistance.

Tuesday, October 5, 2010

Designing an Optical Dispensary for an Optometry Practice

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I found an older article on the Review of Optometry website about building a startup optometry practice from scratch, written by Dr. Diecidue OD. An interesting excerpt discusses the design and building of an optical dispensary: Combining the dispensary with the reception area gives patients the opportunity to browse frame inventory while staff helps to pre-select eyewear. Designing the dispensary and reception area to be open and airy is important to create a non-confining or claustrophobic environment. Higher ceilings (9 foot+ ceilings) and windows foster an open atmosphere for browsing frame inventory. The presentation and showcase of frame inventory is also important in driving optical sales. Mapping out the dispensary for patient flow is an equally important part of this process. On the practical aspect of completing a project, the article also discusses startup optometry loan financing.

Funding is usually the crucial first step in getting the project underway. The nuances of project based financing for start-up optometry practices and other vision care offices need to be carefully planned for. I've previously written about the importance of having an optometry business plan and projections, which are good tools in developing an approach to foreseeable challenges when starting from scratch. The transition phase from construction/build-out of the physical space, into the actual practice opening and development of the business as a going concern can be treacherous if not properly addressed in advance.

Urgent Care Startup versus Urgent Care for Sale

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I recently read an article discussing urgent care practice start-up alternatives. Many of the options listed involved taking over or purchasing an existing underperforming urgent care center. The points made in the article were fair, but didn’t fully address the option of purchasing an existing urgent care practice with good cash flow. The “fixer upper” mentality may work for real estate but doesn’t always pan out for going-concern medical practices. Buying a successful urgent care practice may be one of the better options available to urgent care physicians. Acquiring a marginal, underperforming practice or converting another specialty practice into a high volume treatment center may cost more in the long run. It can take substantial time to build a location into a well-established practice generating sufficient profits to warrant the specific risk premium. Another factor to consider is the opportunity cost of foregoing better income while the practice is being built up. This is an additional risk added to the actual cost of investing into the practice. Buying an urgent care medical practice which is already proven and generates robust income from the onset may be a better option. This may involve paying a higher price point and taking a larger medical practice purchase loan but can be less risky and more profitable in a shorter timeframe. View one of our current listings: Urgent Care for Sale

Monday, October 4, 2010

Dermatology Practice for Sale in Washington State & accessible to Seattle Metro

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Dermatology Practice for Sale accessible to Seattle Metro, located in Washington State. Thriving solo medical and surgical dermatology practice collecting $1,9000,000+ annually on 4 days/week. Beautiful 4000+ sq/ft freestanding building, well designed for optimal efficiency and patient comfort. Approximately 11,000+ active patient charts: 50% PPO, 48% Medicare & 2% Cash. Well trained dependable staff includes 2 physician assistant extenders. Substantial growth potential by opening an additional day and accepting new Medicare patients. Largely untapped cosmetic dermatology market. Small town charm with access to big city amenities in nearby Seattle Metro. Dermatology Practice Acquisition Financing Available.