With many years of business and healthcare experience, we can help you find just the right practice to begin or enhance your career. Buyers can hire us to be their agent, thereby leveling the playing field when dealing with experienced sellers and their brokers. We will assist you in completing your “due diligence” (investigation) of each prospective practice.
Do you know what to look for when buying a practice? Here are just a few questions you need to ask?
- Have you re-cast the financials to see the true profit of the practice?
- Does the seller ever discount their fees? What percent?
- Have the employees been promised any compensation increases?
- Can the building lease be assigned? What is the lease requirement of the lender?
- Can you take the place of the seller on any managed care contracts?
- Do you buy the corporate stock or just the assets of the practice?
- Is it wise to purchase accounts receivable? If so, which ones, at what discount?
- How long is the seller willing to stay for transition? Is that long enough?
- What are the weaknesses of the practice? Every practice has them.
- Has any competitor hired any of the seller’s employees or associates lately?
These are only a few of the questions that need to be answered in completing your due diligence. Buying a practice can be a dream come true. Or, it can be the biggest nightmare you’ll ever encounter.
In many instances, we will locate practices not yet listed. Which will allow us to negotiate for you in a less competitive environment. This will give you the best opportunity of buying your practice at the best price. If you will give us a call at 1-800-863-9373 or e-mail us at info@practiceadvisors.com we will answer your questions and explain the process. Our goal is to find you your dream practice that will meet your professional and financial goals.
How much is it costing you each day you are not in your own practice? Call us today. Don’t procrastinate! All calls are kept CONFIDENTIAL!
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