Unlock Your Practice’s Full Potential with Cynergy Consulting
The Medical Practice Experts
Are you a dedicated healthcare provider considering selling your medical practice? You’ve come to the right place. Cynergy Consulting, your trusted partner with over 40 years of experience, has successfully transitioned over 2000 medical practices, ensuring profitable sales and seamless transitions.
Medical Practice Brokers
Did you know there are strategic steps you can take to significantly increase the value of your practice before listing it for sale? Most providers are unaware of these opportunities. At Cynergy Consulting, we know the secrets to enhancing your practice’s worth, ensuring you get the most from your sale. Our comprehensive Intermediary Services (practice brokerage and sale), as part of a physician’s exit strategy, allow doctors in solo or group practice to convert the hard-won equity in their practices into liquidity, which can then be diversified for purposes of retirement or investment. Most physicians choose to stay with their practice under a negotiated employment contract for a number of years after sale. All physicians over age fifty-five (55) should have an exit strategy to ensure that they can capture the full value of their medical practice before they begin to “wind down”. Our staff has facilitated the sale of hundreds of medical practices over the last forty years in all fifty (50) states.
Brokerage Expertise:
Trust in our brokerage expertise to navigate the complexities of selling a medical practice.
We have successfully brokered the sale and transition of over 2000 medical practices, making us the go-to choice for providers seeking top-notch service.
Comprehensive Brokerage Solutions:
Our comprehensive brokerage solutions cover every aspect of the transaction, ensuring you receive the best possible outcome.
From pre-sale preparations to post-sale support, we’ve got you covered. Ultimately, whether you refer to it as “brokerage services,” “broker services,” or “brokerage expertise,” the key is to convey that you have the knowledge, experience, and resources to assist clients in buying or selling their assets effectively and with confidence.
Practice Merger
Our comprehensive Merger Services assess all the relevant factors and considerations for each practice that will impact on the success of a proposed merger. These include the pre/post-merger legal and financial structures to the human resource issues, practice-culture issues, and EMR system compatibility. Using the full depth of our strategic and operational experience in conjunction with the practices’ accountants and attorneys, we are able to provide feasibility assessments and projections, identify potential issues and advise solutions, recommend governance structures, and lay out an efficient and effective plan for merger. Having performed basic mergers of solo practitioners and complex simultaneous mergers of multiple medical practices with over one hundred (100) physicians, our hands-on experience can both benefit and expedite the merger process.
Practice Acquisition
Our comprehensive Practice Acquisition Services provide a full canvass of the appropriate market to identify all potential candidates for acquisition, and confidentially negotiate the acquisition of the best-fit candidates. Our firm is uniquely situated to add value to this process given our in-house expertise in valuation, brokerage, and merger as well as our comprehensive knowledge of practice management and the physician manpower markets.
Practice Privatization
Our comprehensive Practice Privatization Services assess fair market value for hospital-owned medical practices, canvass for all potential acquisition candidates in the appropriate market, and confidentially negotiate with the best-fit candidates. Our process provides for the compliant divestment of hospital-owned practices taking into account all relevant federal and state statutes and regulations.
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FAQ
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.
