Psychiatry Practice for Sale in Brooklyn

Brooklyn, NY (Kings County)

Psychiatry Practice for Sale in Brooklyn
Contact Seller

Asking Price: $280,000

Cash Flow: $226,682

Gross Revenue: $325,668

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 1990

Psychiatry Practice for Sale in Brooklyn

Save Print Share Valuation Report

Business Description

Type of Business: Psychiatry Practice established in 1990

Revenue: FY 2016 $325,668

Net Cash Flow: FY 2016 $226,682 with Doctor working part-time

Reason for selling: Owner has another practice in NJ and wishes to ease his commuting burden

Terms of Sale: $280,000 (SBA financing for proper buyer)

For sale is a General Psychiatry Practice located in Brooklyn, NY that was established in 1990.

Facts about the practice:
- Practice currently sees an average of 135 patients per month
- The staff currently consists of 2 therapists and a secretary
- The 2 therapists are bi-lingual, speaking Russian and English
- The practice operates in a 750 sq ft office with 2 patient rooms, 2 bathrooms, a waiting area, and a secretary’s office (5 year lease with a 5 year option)
- Therapist #1 works 6 hours per day on Monday and Wednesday, and the Therapist #2 works 2 hours per day on Tuesday and Thursday
- Breakdown of the patients is as follows:
- Private = 2.8% (100 patients)
- Insurance = 37.2% (1,300 patients)
- Medicare = 60% (2,100 patients)
- 20% of the patients are Russian speaking

Rates:
Private
Initial Consult = $250
Follow-up = $125 (15 minute session)

Insurance
Initial Consult = $150 (#90792)
Therapy (averages) = $120 (#99213 / #90836)
(37.2% of insurance patients are therapy / medicine management)

Medicare
Initial Consult = $161 (#90792)
Therapy = $89 (#90834)
Medications = $83.42 (#99213)
(25% of Medicare patients are therapy and 75% are medicine management)

Employee Pay Breakdown
Secretary - $12 / hour
Therapist 1 – Rate for Medicare = $45 / 45 min
Rate for Insurance = $55 / 45 min
Therapist 2 – Rate for Medicare = $40 / 45 min
Rate for Insurance = $50 / 45 min

Insurances Accepted:
Medicare
Empire Blue Cross Blue Shield
GHI
Cigna
Aetna 1190
AmeriHealth
Magellan Behavioral Health
Humana Health Plan
Magna Care
Blue Cross Blue Shield
Medivest
Beacon Health
QualCare
Value Options
Workman’s Comp
1199

Attached Documents


Detailed Information

Employees:
4
Reason for Selling:
Owner has another practice in NJ and wishes to ease commuting burden with age
Franchise:
This business is an established franchise
Contact Seller

Contact the Seller

Contact Seller Loading

Steven Chiger

Business Listed By:
Steven Chiger

AJR Business Advisors

Show Phone Number

View My Listings

Listing Statistics

Saved This Listing:
Unlock
Days Active On Site:
Unlock
Appeared in Search:
Unlock
Listing Detail Views:
Unlock

Demographic Information

Household Income:
Unlock
Population Age:
Unlock
Population Change:
Unlock
Population by Race/Ethnicity:
Unlock

Real Estate Insights

Monthly Lease Rate per SF:
Unlock
Sale Price per SF:
Unlock

Metro Area Scores

Walk Score:
Unlock
Transit Score:
Unlock


Ad#:1205250 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Eat The Frog Fitness

Franchise Opportunity
Capital Required: $500,000