Bethany MacLean
President
Bethany is a seasoned expert with an impressive track record of over 25 years in successfully managing and optimizing healthcare operations, with a significant portion of that time spent at executive levels. Notably, she recently served as the COO of a reputable durable medical equipment company, where she skillfully oversaw the day-to-day operations of a substantial network comprising 13 locations in both New York and Florida, along with a workforce of 160 employees. Throughout her distinguished career, Bethany has achieved remarkable accomplishments, surpassing accreditation standards in multiple surveys and demonstrating exceptional adaptability by seamlessly transitioning all departments to a work-from-home environment during the challenging times of the pandemic. She has also demonstrated her leadership capabilities by effectively guiding her team through intricate software development and transition processes. Moreover, Bethany played a pivotal role in the company’s M&A activities and acquisition process, showcasing her acumen in this complex arena. Her involvement in the successful sale of the company in 2021 led her to continue contributing her expertise to the newly formed entity, where she assumed the position of VP of Regional Operations until 2022. Bethany’s diverse background encompasses a range of essential skills, including AP/AR management, revenue cycle optimization, front-end operations, staff development, referral relations, and operations management. Her wealth of knowledge and experience, combined with her fresh perspectives, make her an invaluable asset to Cynergy Consulting Services, Inc., and a transformative force in every client project she undertakes.
Charles R, Cimasi, MBA,
Principal Consultant
Mr. Cimasi is an executive healthcare consultant with 40+ years of experience in practice management, valuation, brokerage, physician manpower management and recruitment, practice integration and merger, and revenue optimization. He and his companies have worked across all fifty states and abroad since 1978, and he brings a wealth of experience and perspective to each client project ccimasi@cynergycsi.com
Paul J. Cavaretta
Principal Consultant for Practice Management
Mr. Cavaretta has 40 years of experience in medical practice management and consulting. He is an expert on revenue cycle management, analysis, and optimization. pcavaretta@cynergycsi.com
Michael P. Rade, MD, FACS
Senior Consultant
Dr Rade is a highly accomplished General Surgery Specialist with an impressive track record spanning over four decades. Not only has he excelled in his field, but he has also held key leadership positions, including serving as Chairman for the Department of Surgery for 20 years and ICU Surgical Director for 27 years at Mercy Hospital of Buffalo. Dr. Rade has been recognized for his extraordinary contributions and dedication to the surgery setting, having received several awards throughout his tenure including the Lifetime Achievement Award from the American College of Surgeons, Consumer Reports Americas Top Surgeons, AMA Distinguished Physician Award and the Roswell Park Medal, a national award that has only been received locally by 3 surgeons since its 1927 inception. Dr Rade is an expert and advocate for patient care and effective and efficient healthcare operations.
Almarie Falbo, MBA
Senior Consultant
A business operations executive with extensive experience in identifying and reframing business and operational issues to develop strategies and benchmarks for targeted operational improvements and process automation. At Cynergy her skills are applied to practice acquisitions and mergers, practice management assessments, and practice integration efforts. afalbo@cynergycsi.com
Sherry A. Wolffer
Consultant for Practice Management
Ms. Wolffer has over 20 years of experience managing specialty and sub-specialty medical practices with a primary focus on ophthalmology. She has a successful track record in building and developing practices, as well as turning-around troubled practices. Her primary skill sets include strategic planning, project management, operations management, staff development, and physician relations.
Donna Wypych, MHA, BS, AAS
Senior Consultant
Ms. Wypych has over 25 years of experience in managing healthcare operations, particularly in the areas of finance and human resources. Her expertise includes revenue cycle management, billing, collection, A/R, A/P, and risk assessment. She also has a proven track record in developing and implementing federal and state compliance training.
Casimir Zablotski
Analyst/Staff Consultant
Casimir is an analyst at Cynergy Consulting focusing on M&A advisory. Prior to joining Cynergy, Casimir was an investment banking intern at JEGI CLARITY, in both their New York and London offices. Casimir received a Bachelor's in Government and History from Hamilton College and has completed postgraduate research at the University of Warsaw in Poland.
It’s important to ensure all aspects of your practice comply with laws and regulations, including HIPAA and other healthcare-specific rules. Additionally, the sale itself will require legal agreements like a purchase and sale agreement, so legal counsel is necessary.
It’s important to communicate openly and honestly with your staff about the sale, while also respecting the confidential nature of the process. Assure them that their welfare is being considered during negotiations.
The decision between selling assets or stocks depends on various factors including tax implications, legal liability, and the specifics of your practice. A financial advisor or attorney can help you decide which option is best for your situation.
In our experience if you can stay on board for the transition. Ideally, we recommend 1-5 years. The longer you stay the more value you add to the practice.
You’ll need to provide financial statements, tax returns, and operational data. Other important documents include legal paperwork like your practice’s incorporation documents, licenses, and permits, and any contracts or leases. Learn more about the medical practice valuation process here.
The timeline varies based on market conditions, the nature of the practice, and the specifics of the deal. Generally, it can take anywhere from 6 months to over a year. It’s important to partner with an expert in medical practice brokerage.
Ideally, you should start planning to sell your practice a few years in advance. This allows you to optimize operations, maximize profitability, and address any potential issues before they can impact the sale. Typically providers begin to plan approximately 5 years before starting the process.
The value is a combination of both the tangible and intangible asset value. Some methods that may be used to determine this include the income approach, market approach and asset based approach.