- Easy to manage practice via 2 experienced administrative staff
- 1 ½ hours N of NYC
- Office in southern Duchess County in Wappingers Falls, NY 12590
- Wappinger Falls is in southern Duchess County, about an hour and a half north of NYC, in the Hudson Valley area.
- They closed 100% to in-office patient visits in April/May 2020 and did only telemedicine thereafter. As of January,2021 they have started to reopen
- The physiatrist owner in addition to decision making, has patient schedule one day/week (mostly procedures). Professional cooperation agreement with one nurse practitioner (NP). Owner compensation is $165,000 gross.
- The NP does most of the patient care to include consults and injections. The owner is available via phone as needed.
- Established 25 plus years, most insurances accepted
- PMR and pain
- The Practice is open Monday to Friday
- Separate PC which is non-insurance. This PC is called New Concepts and is a Medical PC which involves Medical Marijuana, PRP hair, Botox/Filler, microneedling, etc.
- $600,000 StartNew Medical PC
- $60,000 NewConcepts Medical PC
- 4 treatment rooms
- Fluoro suite with Phillips C-Arm
- Diagnostic Ultrasound
- Centrifuge (2) for PRP
- 5 Computer terminals for Admin staff. Server
- 4 Laptops for clinicians
- 3,200 sf
- Nurse Practitioner
- Medical assistant
- 2 administrative staff
- Separate Corporation/Practice; NewConcepts. Non insurance based.
- There is a potential for post COVID re-opening the UTOX lab (closed in late 2019 due to the death of the Practice Administrator) Invest $175,000 for low ball. $150,000 net/year
- StartNew participates with all insurance programs, except Federal Medicaid. Do participate with managed Medicaid.
- NewConcepts does not take insurance
- 2019 – StartNew Practice – Billed $1,590,384.73, Collected $748,291.28
- 2020 – StartNew Practice – Collected $508,000 as the office was closed to all face-to-face visits starting 4/2020. Started slow reopening.
- 2021 – StartNew Practice – Collected $600,000 Projected figure with slow reopening, started with some procedures
- 2020 –NewConcepts Practice – Income fee-for-service – $58,767.61 for medical marijuana, telemed, started some botox and fillers; Expenses $50,090.39 for a Net of $8,674.22
- 2021 –NewConcepts Practice – Income fee-for-service – $48,306.96; Expenses of $18,296.00 (a MA resigned because of a new baby) for a Net of $30,010.96