How are medical practices for sale?
As medical practice brokers, we are often asked how the practice of transition works. Through our years of experience, we have found that sales practices run smoothly if someone follows a logical process and doesn’t try to “speed up” events by skipping steps. Successful sales continue through each of the following phases.
1. Assessment Practices
we provide comprehensive assessments that establish fair market values. The main information we see includes: call coverage, hours of work, overhead, years of service, gross income, competition, hospital admissions, desired percentage of Medicare patients, and established referral pathways.
2. Identifying needs
an analysis of the needs in the community and the patient base may identify a sub-specialty which would enhance the practice. This increases the marketability of the practice and helps target the pool of physicians which should be contacted.
3. Marketing the practice
we use a search of our physician files, direct mail, advertisements … Read more
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