Seller Financing Available
Gross Revenue: $593,000
Growing home healthcare agency licensed in 5 Florida counties!
Direct contracts with insurance companies, 32% profit margin!
- For Sale By Owner.
- A chance to buy a full-service Medicare and Medicaid Home Health Agency in Port St. Lucie, FL. - Started billing for their services in 2013, and is starting to turn a profit. - Revenues for 2016 are expected to exceed 500K. - Joint Commission Accredited, Medicare / Medicaid Certified, CLIA Certified and AHCA-licensed, providing services to patients in 5 counties (Martin, Indian River, St. Lucie, Palm Beach and Okeechobee). - Have over 90 current patients and get referrals from hospitals, case managers, doctors and multiple insurance providers. - Fully Staffed – Administrator, Dir of Nursing, Quality Improvement Nurse, Billing/Coding clerks, 7 RN’s/LPN’s, 3 CNA’s, referral intake coordinator, medical record clerk, 5 therapy companies as contractors (Physical and Occupational Therapy) and a part-time Medical Social Worker. - Roughly 97% of the revenue comes from commercial insurance providers. Direct contracts with WellCare, Humana, United Health. (That means a payment for episode-of-care, as opposed to per visit: better profit margins!) - Turnkey operations: policies, compliance, technology and personnel are in place.
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: Company recently moved to a larger space in a more convenient location with a lease that will continue until March 2018. The office is fully furnished, and furniture and fixtures worth $8500 are included in the sale. The sale may include a 2 leased vehicles available for use by Administrator and Director of Nursing.
Competition: Agency operates in one of the most demographically attractive markets in the country. The market includes a number of large hospitals, senior centers, assisted living communities and nursing homes. Licensing covers Martin, Indian River, St. Lucie, Palm Beach and Okeechobee counties - a territory with a combined population of over 642,000. Per census, 19.9% are aged 70 and older. That’s over 127,000 people needing home health care services. The number of existing medical healthcare agencies covers only a fraction of individuals in need of a caregiver.
Growth & Expansion: Agency has a well-defined business plan involving deepening relationships with local medical centers and senior living facilities with a goal of becoming their preferred provider. Agency also has a growing number of direct insurance contracts that allow them to bill insurance directly and bill per episode as opposed to per visit. Both strategies have proven to be very successful in growing patient base and profit margins. Another profit center the company is exploring is hiring full-time therapists (OT and PT) and leasing them out to other agencies.
Financing: 50% at closing, 50% after 6 months
Support & Training: Company owner, an industry veteran who has grown another agency out-of-state into a multi-million dollar company, is willing to stay available as a consultant for up to 6 months. Co-owner may stay on staff as Administrator as long as necessary.
Reason for Selling: Company owner has another fast growing agency they want to focus on.
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