Thriving Pediatric Practice In Beautiful Colorado

CO

Seller Financing Available
Just another day nearby
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Asking Price: $325,000

Cash Flow: $232,500

Gross Revenue: $862,400

EBITDA: N/A

FF&E: $40,000

Inventory: N/A

Rent: $3,600 /Month

Established: 2004

Thriving Pediatric Practice In Beautiful Colorado

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Business Description

The Opportunity

Unique opportunity to own a lucrative, well-established, integrative, outpatient-only pediatrics practice in one of the most beautiful parts of Colorado. (Contact us to find out more about our exact location.)

Imagine working only 3 days per week, with plenty of time off to enjoy life outside of the clinic, and up to twelve weeks of vacation each year. No marketing necessary—the reputation of this practice keeps a steady flow of new patients streaming in. Exceptional staff, 13.5 years of records, and consistent patient flow mean you’ll continue to keep your costs predictably low.

With a vibrant, health-conscious population, consistent return business, and very little competition, the opportunity to have an abundant practice drawing from a large geographic area is available from the start. Add more hours, hire another associate, and/or do some marketing, and you have the chance to add even more success to an already prosperous practice.

The Setting:
The clinic is located in a city bordered on all sides by stunning scenery, national forests, amazing mountain ranges, and even a national park. People come from all over the world to experience the exceptional quality of life enjoyed here every day. As such, Outdoor Magazine ranked this city as one of the 16 best places to live in the United States.

Modalities & Demographics:
This is a truly “integrated” pediatric practice in every sense of the word, providing holistic care to all by using adjunct therapies that have profoundly beneficial effects for patients. In addition to traditional western medicine, the practice also incorporates dietary changes, supplements, shonishin/acupuncture, and makes referrals to local osteopaths, chiropractors and naturopaths as appropriate.

The practice also receives regular grants that provide for a behavioral health practitioner and a child/adolescent psychiatrist, allowing it to support families facing a variety of psychosocial, medical, and behavioral/emotional challenges.

The clinic has a well-established and stable patient population ranging from newborns up to young adults of 21 years. The number of patient visits per year has averaged just under 5,000 for the past several years. The payor mix has been stable since 2014, at 42% Medicaid and 10% CHP with the remainder mostly a mix of in- and out-of-network insurance.

A majority of patients are referred by friends, family members, allied health professionals, and insurance companies, as the clinic is a preferred provider for many of the most common insurance companies in the state.

Financial Strengths:
A critical business strength of this practice is that the owner has been negotiating private insurance contracts annually since year one. The practice has received increases every 1-3 years, and these increases have dramatically improved the bottom line.

Another essential financial strength of the practice is our participation in multiple quality improvement projects. These QI projects have led to multiple alternative funding sources, whether it be Meaningful Use monies, an agreement in which our behavioral health providers' positions are paid for, having the opportunity to obtain a grant that supports a very part-time child/adolescent psychiatrist and other alternative payments models.

As we have been able to demonstrate that we are saving insurance companies money, we have been more effective in our negotiations.

The income and expense summaries are derived from an average of income and expenses from 2015-2018. Note that the owner works in the office 3 days per week and takes up to 12 weeks off per year.

The asking price is based on a conservative professional valuation of $395,000, with an average yearly gross of over $830,000 for the past several years. The current owner’s goal is to surrender the practice by late Spring 2019.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,400
Lease Expiration:
7/1/2019
Employees:
5
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The clinic is located in the very center of town in a prestigious landmark building with ample parking. It includes a large waiting room; a separate “sick” waiting room; 6 exam rooms; two nurse’s stations; a lab area; a provider’s office; and office manager’s office; a break room and two bathrooms. Upon purchase, in addition to all patient records and equipment, the current owner will also transfer to the new owner all clinic-related intellectual property, including EHR system, financials, and scheduling. The purchase will be an entity (stock) sale.
Competition:
Most patients come from communities within 90 miles of the office. Competition is minimal, and the combined population of the practice’s service area is well over 100,000 people. We would be happy to discuss the local market and competition upon signing a non-disclosure agreement (NDA). Reach out to us and we'll provide the NDA and more information on the location of the practice and the surrounding market.
Growth & Expansion:
>>Increase number of days worked: The current owner sees patients an average of 3 days per week and takes 8-12 weeks off per year. >>Add additional practitioners: The practice has sufficient room (+ business) for additional practitioners. >>Improve online presence: The current owner has been successful without putting too much effort into creating an online presence. >>Increase marketing: The practice does almost zero marketing. Doing some marketing would create opportunities for an increase in new patients and/or a return of pre-existing patients.
Financing:
Possibly willing to partially finance for the right buyer.
Support & Training:
We employ a pediatric nurse practitioner; an office manager; 2 LPNs; a medical assistant; and a receptionist. We have 2 part-time behavioral health providers and access to a child/adolescent psychiatrist who is in-house 2 days every other month. The current owner would be willing to stay on for a limited time to assist in the transition if so desired by the new owner.
Reason for Selling:
Much as we love this business, we are moving out of state to be closer to family
Business Website:
http://sellingapractice.com/pad
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Business Listed By:
Jason Luban

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