- Unique practice purchase opportunity as this physiatrist is not retiring but relocating to be closer to family
- 6-year-old practice
- Outpatient interventional practice designed by a physician for physicians, providing evidence-based medicine ethically with low administrative burden.
- The practice enjoys a high volume of referrals from a diverse base including neurologists, orthopedics, neurosurgeons, primary care, self-referrals, and repeat patients with minimal marketing.
- Serving the greater Southwest Florida area including Naples, Bonita Springs, Cape Coral, and Lehigh.
- Southwest Florida, known worldwide for its beautiful beaches, pristine golf coast waters, and casual lifestyle, has increased dramatically in population recently and referrals are increasing accordingly.
- Highly efficient collections averaging 100% of Medicare allowable.
- The practice is in-network with a diverse payor mix.
- Opiate prescribing is minimal and judicious while integrative approaches are encouraged.
- Interventional treatments include in-office fluoro guided ESI’s, facet blocks, RFA’s, SIJ injections as well as ultrasound guided peripheral joint and nerve blocks.
- Like new practice equipment is included with the sale; GE 9800 OEC C-arm with PM Care, GE Logiq e MSK US and Cadwell EMG
- The physiatry owner has 9 years’ experience and is Board Certified in Pain and PM&R
- The office has been operational since 2017
- Office staff of an office manager, front-office assistant, back-office assistant, 2 MA’s (to include an X-ray tech), and an ARNP
- Billing company charge of 6%
· Awards: PATIENTS’ CHOICE AWARD (2018, 2016)
Patients’ Choice recognition reflects the difference a particular physician has made in the lives of his/her patients. The honor is bestowed to physicians who have received near perfect scores, as voted by patients.
- ON-TIME DOCTOR AWARD (2018, 2016)
Vitals On-Time + Promptness Award recognizes doctors with consistent high ratings for timeliness of appointments. The honor is granted based on a physician’s overall and promptness scores.
- COMPASSIONATE DOCTOR RECOGNITION (2018, 2016)
Compassionate Doctor certification is granted to physicians who treat their patients with the utmost kindness. The honor is granted based on a physician’s overall and bedside manner scores.
- 50% Medicare, 50% mix of BC/BS, Cigna, Aetna, etc.
- $450,000 OBO
- Office rent of $5,000/month
- Office building is available for purchase separately from the practice
- $900,000 gross, $350,000 net
- The gross collections/profits were generated from a 4-day work week with additional vacation time off so there is higher earning potential
- On track to surpass $1 million in collections this year
- Relatively new equipment from 2017: 9800 OEC factory refurbished with an annual maintenance plan, GE ultrasound machine, Cadwell EMG
Reason for practice sale:
- Physiatry practice owner relocating to be closer to family
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