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Exit Strategy: Tips On Selling Your Medical Practice
Whether you are seeking employment or planning to retire, here's advice on getting your practice ready for sale.
HMCOE works with quite a few medical practice sales/purchases. Most of our clients got acquired by health systems in NJ over the past 2 years. Average practices need to be turned around over a period of 2-3 months to become more profitable by attracting more profitable patients. The practice then puts the data from the increased profits into forecasts to increase the sale price or to enhance interest by buyers. The secret to proper valuation at that point is to sustain the profitability. On the other scope of work, once a practice is acquired a new practice needs to increase its volume of patients. Putting together medical marketing into the practice purchase/sale is a smart way to go