- Solid patient and physician referral base
- Upscale neighborhood
- Solo private practice in operation for 40+ years
Location:
- Upscale neighborhood, 15 minutes from George Washington Bridge in Bergen County, New Jersey
- In small medical professional office building with 2 dental practices, an ophthalmology group and some available space; it’s approximately 12,000 square feet
- This doctor’s office space is approximately 2,500 square feet
- 4 rooms of which one is the doctor’s office, 2 exam rooms and 1 room where the doctor does EMG’s in and sublets some of it to a PT group
Practice Features:
- Solo practice in operation for 40+ years; currently works 3/12 days/week
- The Physiatrist cares for adult patients with acute more so than chronic spinal and peripheral pain as well as for patients with assorted neurological abnormalities, arthritis and sports injuries. The physiatrist performs electrodiagnostic testing, trigger point injections, and other non-guided injections.
- Minimal personal injury and workers comp/no-fault
- The physiatrist employs a part-time Acupuncturist and Massage therapist
- Very efficient administrative staff of two individuals
- The current physiatrist is available to stay on for about 3 years
- The office is sublet to an excellent physical therapy practice that takes approximately 60% of the space and shares in the overhead proportionately. They share the common space.
- Office staff – 2, an office manager and assistant
- The current Physiatrist refers radiology, spinal interventional procedures, and guided injections including regenerative medical procedures out of the office. The practice purchaser has the ability to increase income by doing these procedures.
Payors:
- 60% Medicare, 40% commercial insurance
- Is in-network with most carriers
Finances:
- Has gross receipts of $600K, net $300K while working part-time; he keeps about 50% of the receipts
- Is flexible to terms of purchase
- The current owner rents the space for $6,000/month
Price:
- Best offer