Are you about to retire and unsure what to do with your medical practice? We’re here to help. Selling your medical practice is a good option if no one will inherit it. At Strategic Medical Brokers, one of our specialties is helping physicians sell their medical practice while protecting their legacy and life’s work. We approach every transaction with care and diligence and take the time to learn your specific goals and vision.
Our medical practice brokers have extensive experience in the healthcare industry, and this allows them to give helpful insights and serve as your trusted guide throughout this process. We will work closely with you and connect you with qualified buyers who can honor your practice’s legacy and protect its reputation down the line. Selling your solo medical practice with our assistance Deciding to sell your medical practice is a challenging decision, but with our expert guidance, you can proceed with greater confidence. We ensure a strategic and smooth transition by treating each sale as a unique situation. Our approach involves tailoring the selling strategy to align with your specific goals and requirements. Our team of experienced medical practice brokers handles every detail of the sale, including preparation, negotiation, and finalizing the deal. With our support, the process of selling your medical practice becomes more manageable and less overwhelming. Our Process We follow an all-inclusive process that handles every transaction with the utmost professionalism and care. Here’s how we can help you sell your solo medical practice: Initial consultation When you engage Strategic Medical Brokers, we will take the time to know your practice and your timelines, goals, unique circumstances, and other factors that may impact your sale. Rest assured that our team will handle this stage with care, understanding, and empathy. Our aim is not just to assist in selling your medical practice but to help you make informed choices, too. Practice valuation Our team will conduct a comprehensive practice valuation to know its fair market value. We understand that this can be a sensitive time for most physicians and that not all doctors know the exact worth of their business. As such, we handle this process with care and apply up-to-date methods and reference points to find the most precise and realistic value. At Strategic Medical Brokers, we understand that there is not one correct multiple for every sale because it is meant to identify the relative riskiness, investment opportunity, and the chance to gain a reasonable ROI for investors. Additionally, other factors can impact multiples, including the growth and stability of the revenue stream, trained staff, location, mix of services, profitability, patient demographics, and the facility’s condition. Our team does not stop at identifying the best multiple for your medical practice. We consider medical practice goodwill and understand the buyer, too. Promotion and marketing We don’t just handle the valuation, sales, and negotiations. Our expert team will also develop a custom marketing plan to promote your practice to the right buyers. In addition, we take the guesswork out of selling your medical practice online because we have our own listings. Negotiations and closing Our team will work with you and the prospective buyer to negotiate the transaction’s terms. This way, we eliminate the guesswork for both parties, address questions, and clear the way for a smoother closing. We offer consulting services. Selling a solo medical practice can be daunting, but we are here to clear misconceptions and help you make informed choices with our consulting solutions. Our consulting services are tailored for healthcare professionals like you. We can also customize them for investors so we can help every client achieve their business objectives. Our goal is to drive positive results for physicians and buyers through strategic thinking, which involves pre-transaction planning. Our pre-transaction services include a comprehensive financial plan and a road map for retirement, transition, expansion, or acquisition. Let Strategic Medical Brokers show you how to reach your goals efficiently and quickly. If you’re considering selling your medical practice, don’t hesitate to arrange a consultation with us. Strategic Medical Brokers is ready to work with you to keep it simple and worry-free. Schedule a meeting through our website to start. Source URL: strategicmedicalbrokers.com/how-to-sell-a-solo-medical-practice/
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AuthorWe work with successful medical and dental practice owners who are considering an exit strategy and need to understand what their options are, how much their practice is worth, what is the process and timeframe, and what costs are involved. Archives
December 2023
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