Going national to connect private practitioners across the country.
After focusing on practices in the NY area, Iris Kimberg, MS PT OTR, a private practice consultant with over 40 years in the industry is now helping therapists across the country connect with each other to sublet office space, sell therapy equipment and help find the most qualified buyers for all types of physical, occupational and speech therapy private practices across the country. Whether you are a solo sports medicine practitioner, a multi state provider, or own a pediatric sensory gym, whether you are ready to retire and pass the torch along, or have grown your practice as far as you can or want to, this is the place to find out the who, what, where and how to go about the process of selling your practice, or buying someone else's. Listings in all categories are $75 and will stay live for 75 days.
You can now purchase the recording of the webinar held Nov 15th. It includes the Q/A and a hard copy of the powerpoint. 24/7/365 access available.
SELLING YOUR PRIVATE PRACTICE - EVERYTHING YOU NEED TO
KNOW TO GET THE DEAL DONE!
It has been a very busy first three quarters in 2018 and I have personally been involved in 6 practices being sold so far this year. What is really great about it is they happened in New York, Florida, Colorado, and New Jersey, and involved OT and PT practices. The deals were done with individual practitioners, corporate entities and even a therapist from abroad. So, the answer to the question I get most – is there still a market for therapy practices is a resounding YES! This year has also affirmed for me the importance for therapists to start planning an exit strategy early and to build in value over time. There are value makers and value takers in every practice. Do you know what yours are?????
The sale of your practice should start long before it is announced publicly. Proper preparation is essential. Not since the consolidation in our industry back in the 90’s has there been so much interest in therapy practice sales, mergers and consolidations and all research points to this trend continuing. Regardless of whom you might end up selling to, two points to always keep in mind are that (1) anything that increases the volume or the security of future revenue will increase the value of your practice, and (2) what makes your practice valuable to you will make it valuable to a buyer. More and more corporate entities are buying up practices across the country. Find out who are they and if you are missing the boat, making a deal with the devil, or might be better off selling internally to someone in your practice or a local competitor.
1) Understand the specific criteria used to determine the valuation of a practice, including EBITDA, goodwill, infrastructure etc. and what are viewed as value makers versus value takers in the industry.
2) Understand the steps necessary to prepare your practice to bring it to market and when to get this process started
3) Find out the financial preparation and forms you need to have in place and for review during due diligence
4) Discuss differences between an outright acquisition, merger, and structured buy in and what determines the best fit for your scenario
5) Understand what makes negotiating with a fellow therapists versus a corporate entity so different and how
you can level the playing field
6) Discuss the pros and cons of using a broker or intermediary and what makes a qualified buyer
7) See what you need to do so that you can answer the #1 question: “Can this practice exist without you?”
8) Understand the steps necessary in selling a practice including non disclosure agreements (NDA), letters of intent (LOI) and purchase agreements.
YES YES YES!!!! if you are considering buying another therapist’s practice, this info is VERY relevant for you too! This webinar is to take the angst out of selling a practice and present the information in user friendly, logical steps. The issue will be presented from both the perspective of the buyer and the seller. Live Q/A!
This webinar is presented by Iris Kimberg, MS PT OTR CEO of NYTherapyguide.com who, on her own, sold her therapy agency in a multi million $ deal to a Fortune 500 company. She has worked on valuations of many practices and helped sell over 2 dozen OT PT and ST practices in the last number of years. Iris has presented this material for the APTA PPS conference and privately to over 300 therapists. $95
1o5 Hudson Street Suite 11N NYC 10013
New Paltz NY 12561
Bokeelia Florida 339922
for In person consultations, I spend seasonal time at all locations listed above. I do most of my work via telephone, email, skype or go to meetings.
visit our sister site: www.NYTHERAPYGUIDE.COM
845 430 7749
After years of hearing “what about peds”, Iris Kimberg, MS PT OTR is teaming up with Evelyn Capdevila, PT, MPT to present concrete and actionable information relevant to all pediatric therapists in private practice. Whether you are in network, out of network (OON), or cash based, it is in everyone’s best interest to have bills properly coded and notes properly written so that our pediatric families have a better chance of getting services rendered paid for, or reimbursed by, third party carriers. Let’s cut down on denied services, pended bills, under and no reimbursement and audits and make sure that bills and documentation are in compliance! I didn’t know is not a defense and will no longer be an excuse after this webinar! We will cover:
Proper coding in pediatrics
What your status as In Network vs. Out of Network (OON) vs. Cash Based vs. Gap Exception Coverage means in terms of billing
How to legally have more than one payment scale for services rendered in your practice
How to write daily and progress notes that supports your bills getting paid or your families getting reimbursed
How to write notes that correspond with your billing
What might trigger an audit or peer review of your bills and/or notes
Checklist of what to include in every note
Typical questions from third party payers
Types of information third party payers want to get from evals, notes, plan of cares, progress notes and discharge notes
The webinar will be live and all participants will be able to ask questions. It will also be recorded and available 24/7/365 if you cannot attend live. All registrants will be eligible to receive a certificate of participation for 2.5 hours. Early registration on now through December 15th.
2019 Opportunity Listings plus
Helpful Products and Templates for Sale
Practices for sale -
Manhattan based highly regarded Medicare Part B Home Care Physical Therapy Practice is available for sale. This is a GREAT opportunity for an existing PT practice looking to establish a home care division, an experienced therapist looking for a firm foundation upon which to move to home care, or an expanding PT group wanting to increase market share. For details,click here
A very well established, highly regarded PT private practice in Central Nassau County is available for sale. This is a great opportunity to purchase a thriving practice or establish a second location. For details, click here
Physical and Occupational Therapists – Want a Better Answer to the Age Old Question – Where Do You See Yourself in 5 Years??????
SEEKING PHYSICAL and OCCUPATIONAL THERAPY PARTNERS for a WELL ESTABLISHED NYC ORTHO AND SPORTS PRACTICE looking to expand and open new locations in
the Greater NY area. Click here for details:
WANTED TO PURCHASE IN THE LONG ISLAND VICINITY
Occupational Therapist with clinical doctorate and 20 years of clinical experience is interested in purchasing an established and highly regarded therapeutic agency, particularly pediatrics (with contracts on Long Island) that can be operated remotely. Business must have minimal overhead, and be debt free. Buyer is interested in purchasing the business by paying monthly installment notes allowing the seller to recognize gain over a longer deferred time period in an installment basis. Seller should be willing to provide full financial information, including but not limited to full practice statistics, profit and loss statements, balance sheets, and tax returns for the last three years. Serious sellers, please email:firstname.lastname@example.org
allocation of purchase price
Contrary to what you may think, negotiations are NOT over once you find a suitable and qualified buyer and then agree on an ask price. Here is the information about what you need to know when you negotiate the allocation of the purchase price so that it is to your best tax advantage. For details and to purchase
Sublet AND Employent opportunities-
Premier Pediatric OT Practice in NJ has an opening. For details, click here
Per Diem OT Job Opportunity- Matawan New Jersey
Top Tier Care LLC, a well established and highly regarded private rehab agency owned by an OT has an immediate part time opening in an Adult Dayhab Facility. Currently there are 2 patients needing services but that number is expected to increase. Make your own schedule and fee for service is competitive.
For more info – call 732-994-5088 x102 Or email/fax resume to:
email@example.com / fax 732 358 0312
CONFIDENTIALITY and Non Disclosure Form
Prior to any discussions about a practice sale/merger/or strategic partnership, it is important to have this form in place. This is downloadable and editable. $15 For details and To purchase
FORMULARIZED SPREAD SHEET
STRUCTURED BUY IN
For therapists considering structuring a practice sale as a structured buy in, this tool will help you determine suitable buy in schedules based on down payments and monthly payments. $35 For details and to purchase
PRACTICE VALUATION Tool
This formulized Excel spread is an easy way to start measuring your company’s potential value by determining your Adjusted EBITDA, or earnings before interest, taxes, depreciation, and amortization. $75 For details and to purchase
GET YOUR LISTING FRONT AND CENTER to your targeted therapist audience.
Post your practice sale, sublet opportunity, equipment for sale, continuing education offering or product right here for $75 for 60 days. OR let Iris send out a targeted and exclusive eblast to her data base of over 12,500 PTs OTs and STs. Fee is $350 and includes help with the write up. For $100, you can also have it posted here, on NYTHERAPYGUIDE.com as well as 10 plus relevant Facebook and 10 plus LinkedIn groups. For info: firstname.lastname@example.org
Questions about Selling Your Practice or Buying Someone Else's
Iris has been involved in helping over 36 private practices sell their entities in New York City and New York State, New Jersey, Connecticut, Florida, California, Oregon, Illinois, Colorado, North Carolina, and Alabama. Iris has assisted in practice valuations to determine realistic ask prices, developed discreet marketing plans to announce practice sales, and has acted as an intermediary in negotiations and bringing a sale to a successful conclusion. Many times potential buyers of practices reach out to Iris to help evaluate whether a practice is a good fit, or worth the ask price. Consultation fees start as $200 per hour pro-rated with no minimum or maximum time commitment and a simple one page agreement. For information on how we might be able to work together, please feel free to email me in confidence at email@example.com or fill out the form below. I look forward to hearing from you and potentially working together.