Offering Proven Value & Four Decades Of Experience:
Medical Practice Valuations
Services to Help You Properly Value Your Practice.
You have dedicated your career to providing high-quality care to your patients and building a thriving practice with a strong reputation in your community. However, when it comes to assessing the true value of your practice and planning for its future transition, it can be challenging to know where and when to start. Our Medical Practice Valuation Reports establish the basis for value in a solo or group practice with a wide range of applications. The valuation of a medical practice is a complex process that takes into account a wide variety of factors. It’s a good idea to engage professionals who specialize in healthcare valuations to ensure an accurate and thorough evaluation. We don’t just plug some numbers into a formula and generate a dollar amount. We get to know your practice from top to bottom to determine the true value and present our methods in report format. Our goal is to strategically enhance your practice’s worth and set the stage for a successful transition.
Why You Might Need a Medical Practice Valuation:
- Mediation in Separation Cases
- Planning for Wealth Transfer and Inheritance
- Litigation Pertaining to Marriage Dissolution
- Crafting a Business Departure Plan
- Setting a Fair Acquisition or Sale Price for a Medical Practice
- Dissolving a Partnership in a Medical Practice
- Fair Allocation of Assets in a Divorce
- Combining Multiple Medical Practices
- Providing Expert Testimony or Deposition
- Determining the Value of a Practice for Damage Compensation Analysis
- Assessing a Practice’s Worth for Bankruptcy Proceedings
- Determining the Asking Price for a Medical Practice Sale
Medical Practice Valuation Tools
The valuation of a medical practice is a complex process that requires careful consideration of a wide variety of factors. Engaging professionals who specialize in healthcare valuations ensures an accurate and thorough evaluation, providing you with the insights needed to make informed decisions. At Cynergy Consulting, we believe in empowering medical practice owners by equipping them with the knowledge and tools necessary to navigate these transitions confidently. For preliminary discovery and preparation, explore our Medical Practice Valuation Calculator for quick estimates and our Selling Your Medical Practice Valuation Guide to gain actionable insights into maximizing the value of your practice.
Medical Practice Valuation Calculator
Curious about your medical practice’s value? Try our Medical Practice Valuation Calculator for a quick estimate! This easy-to-use tool provides a starting point for understanding your practice’s worth and can help guide your next steps in the valuation process.
Comprehensive Guide to Successfully Selling Your Medical Practice
Thinking about selling your practice? Packed with expert insights and actionable tips, this guide will help you navigate the complexities of the selling process and maximize the value of your practice.
Frequently Asked Questions
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. Not sure how to get started? Try our free Medical Practice Valuation Calculator.
