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  • Easy to manage practice via 2 experienced administrative staff
  • 1 ½ hours N of NYC

         

Poughkeepsie & the Mid Hudson Bridge

Location:

 

  • 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.

Practice Features:

 

  • 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.

Price:

 

  • $600,000 StartNew Medical PC
  • $60,000 NewConcepts Medical PC

 Facility:                

 

  • 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

 

Personnel:

 

  • Physiatrist/owner
  • 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

Payors:                 

 

  • StartNew participates with all insurance programs, except Federal Medicaid.  Do participate with managed Medicaid.
  • NewConcepts does not take insurance

Numbers:

 

    • 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