Friday, September 30, 2011

Physical Therapy Practice Southern California

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Currently offering a physical therapy practice in Southern California.  This clinic is designated as a Medicare Certified Rehabilitation Agency. Great opportunity for a PT or non-PT to buy a full scope clinic providing Physical Therapy, Aquatic Therapy, and Sports Medicine.  For details contact 800-416-2055

Thursday, September 29, 2011

Optometric Practice for Sale – North Carolina

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Upscale Optometric practice for sale in North Carolina. Practice emphasis is on primary vision care and contact lenses. Annual gross receipts of $1,750,000 with consistent growth and favorable outlook. Spacious office in a freestanding building, equipped with state-of-the-art equipment. Located in an affluent community with good pace of life. Dispensary carries extensive lines that are moderate to exclusive high-end. Up to 100% Optometry Practice Financing Available (OAC) for qualified buyer. For more details, call optometric practice sales consultant at 800-416-2055 (x225).

Wednesday, September 28, 2011

Auburn, Alabama Dermatology Practice

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Selling a well-established dermatology practice in Auburn, the fastest growing metro area in Alabama. As a college town, Auburn is a hub of arts, culture and recreation. Great family-oriented community. Annual collections of $700,000 with a low overhead of 32%. Practice provides medical and surgical dermatology services. Substantial growth potential by adding cosmetic dermatology and Mohs surgery. 100% dermatology practice purchase financing available to qualified buyer. Contact dermatology practice sales consultant at 800-416-2055 (x225) for details.

Orange County Dermatology Clinic

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Selling a dermatology practice in beautiful Southern California. Exceptional opportunity to acquire a long-established, premier clinic in Orange County, located between Los Angeles and San Diego. Thriving community offers many recreational activities and access to parks, beaches and cultural events. Desirable work/life balance and good pace of life.

The practice provides a full range of medical, surgical and cosmetic services including Mohs micrographic surgery. This high volume clinic has enjoyed consistent organic growth with gross collections in excess of $3,700,000. Aesthetically pleasing clinic is very spacious, with sufficient exam rooms, offices, and a lab for multiple providers. Physicians, extenders, and well-trained office personnel to remain with the practice.

Up to 100% dermatology practice purchase financing available to qualified buyer. The selling doctor will remain for transition assistance.

This practice purchase opportunity is offered by Transition Consultants, a dermatology practice sales and valuation firm providing transaction advisory, merger/acquisition, and appraisal services to physicians, medical groups, and clinical organizations. Dermatology is one of our core competencies; Our team has valued and structured dermatology-related deals for a multitude of individual physicians, health groups, and private equity groups. Contact our dermatology practice broker at 800-416-2055 (x225).

Friday, September 16, 2011

Why Dentists Should Understand Their Active Patient Count

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The active patient count is the primary tool for measuring the goodwill of a dental practice. It has great importance for both the owner and the buyer of a dental practice. The active patient count is defined as the number of different individuals seen in the practice during a prior specified time period (typically 12-24 months). As important as this factor can be, many selling dentists do not know their active patient count or realize its significance. There are two main roles to consider when it comes to the active patient count.

The Role of the “Active Patient Count” During the Purchase
One of the primary reasons for purchasing an existing practice is to acquire the active patient base. When we break down and prioritize the value of the different assets that comprise a dental practice, dental equipment can often be of less value than other components. Expensive dental equipment can be acquired in a short time, and can be the one asset within the practice that actually loses value over time. However, it can take years to build a patient base. The active patient base simply represents current and future cash-flow to the practice. It can be the single most important asset and usually has the most value. What contributes to the value of the patient base is the actual length of time it has taken to develop. The patient base in a typical general dental office can take up to 7+ years to build. If the transition is structured properly, the idea is that the majority of the active patients will continue to receive and pay for services. This represents future cash-flow for the new owner. There are a variety of items constituting the “goodwill” of the practice, but the active patient base is the most significant.

The Role of the “Active Patient Count” as a Practice-Management Tool
This active patient count is also valuable in the ongoing management and operation of the practice. The active patient count is helpful in calculating and monitoring the practice’s potential. For example, a well-running dental practice with an estimated $400 “benefit” per year per patient, and an active base of 2500 patients grosses receipts of about $1,000,000. Comparing these estimates to what practices are doing elsewhere, both locally and nationally, will help to provide an indicator and show areas that may need improvement.

The active patient count will reveal whether the practice can support a full or part-time associate. A solo practice attempting to incorporate a full-time associate requires a minimum of at least 2,000 active patients. Fewer than this number can show that the practice will have difficulty supporting more than one doctor.

The active patient count also helps with analysis of other staffing needs, especially from a hygiene perspective. The average, fully booked hygienist sees 10 patients per day, equaling (with a six-month recall schedule) 250 recall patients for each weekly hygiene day. If a practice undergoes a normal attrition rate, they will experience approximately a 15% erosion of their active patient base each year as patients relocate, change providers, etc. In a healthy and growing practice, the practice will replace these patients with 20–25 new patients per month. If the number of available hygiene days is not continuously increased, the inability of patients to be seen in hygiene may limit the growth of the practice and its future income.

In a well-run practice, statistics show that 70%–80% of new patient referrals come from the existing active patient count. Therefore, relying on the practice’s existing patient base as the primary marketing tool requires carefully reviewing the active patient count. Without the patients, the only other source for new patients is an external marketing program. Without a doubt, increasing the patient count will do wonders for your overall bottom line. If the practice is booked for weeks or even months out due to an effective patient-retention and hygiene recall program. Then, it can be argued that this will lower the overall overhead while increasing the bottom line for the owner. This will undoubtedly improve the bottom-line for the owner-dentist while helping to reduce the need for an expensive external marketing program.

Whether used as a management tool for owner-dentists or as an evaluation tool for buyers; knowing the active patient count and its various uses and applications is critical to the long-term success of the dental practice. Once the initial number is determined, it is relatively easy to monitor and track. The active patient count coupled with the annual gross receipts is something that takes just seconds to calculate on an annual basis, but is critical to the monitoring of any dental practice.

Wednesday, September 14, 2011

Dental Practice Start-Ups: The Good and the Bad

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Building your own practice from the ground up gives you the ultimate degree of control in creating the professional environment you want. From the facility itself to equipment and employees, you’re in charge of deciding what works best for you. You’re engaged in a creative process that, while time consuming and capital intensive, will ultimately produce the work environment you’ve dreamed of, unimpeded by dated equipment and facilities or the inheritance of another dentist’s potential problems.

Dental practice start-ups can have plenty of challenges of their own. A successful start-up practice is dependent on the dentist’s ability to sell his or her services and requires a significant degree of business and marketing skills. Before the practice is even conceptualized, an important part of that planning is ensuring that the demographics of your chosen area will support your practice. Are there enough local residents of a certain income level for your practice to thrive? And how do you determine what income or population level is adequate for you or for your location?

It is recommended to conduct an informal research to ensure that your selected locale is not already saturated with existing practitioners. You will want to “run the numbers” to determine what number of practices would indicate a saturated market in your area. If you are committed to living and working in an area that already has numerous dental practices, then acquiring a practice with an existing client base and cash flow might make the most sense as you would minimize the amount of marketing required to establish your business.

And finally, some loan companies may be more reluctant to lend funds for a practice start-up, as there is no income history, existing equipment or property to use as a collateral base.