Medical Practice Listings FAQs
We understand it takes hard work and time to create a successful practice. If you’re retiring, moving out of the area, expanding or perhaps in transition with your career, the time will come to consider selling your practice or make the inevitable change. With the help of our MPL Team, your practice goals can be achieved. Our approach is designed to successfully sell your business to the best buyer, for the maximum price, while minimizing distractions to your daily operations. It is our goal to ensure we provide a smooth transition for your employees and we help you maintain the legacy for which you have built.
Philip Driver and Elizabeth Prout are experienced brokers with well over twenty-five years owning, staffing, and selling medical practices. We represent profitable medical practices and health care organizations. Our Executive and Administrative teams will guide you through the process from listing to closing. It is our goal to help effectuate a successful transition. You will work closely with our interdisciplinary team of marketing and sales professionals as well as our Broker to maximize the value you receive for your practice sell.
We will gather and assess the Practice Owner’s current goals and objectives. In our beginning stages, it is our goal to familiarize you with the entire process and answer any questions or concerns you may have.
We will prepare a valuation and assessment of your Medical Practice utilizing BizScore Practice Valuation Processes. This comprehensive report will enlighten you regarding the value of your company and how your company projects for the coming years. Our valuation report utilizes over a dozen valuation methodologies, industry analysis, demographic studies, plus a nationwide comparison of businesses sold in the same industry.
“Nothing can be more expensive than not knowing the market value of your business.”
Once we have completed your valuation, we begin discussing practice pricing and our advertising marketing strategies begin. During this stage, we identify and communicate confidentially with all prospective buyers by utilizing or existing database of active buyers, websites, direct-mail marketing, and via all social media outlets.
We welcome and invite all offers with a Confidentiality and Non-Disclosure Agreement. Once an acceptable offer has been made, negotiations begin. Our Team will evaluate and present all reasonable offers and discuss the pros and cons of each opportunity. It is our top priority to carefully manage this process to keep the negotiations focused. We strongly recommend that both the buyer and seller retain independent counsel as this process will require each party to be advised of the legal and tax consequences that will result from the sale.
Physician Solutions charges a 10% Success Fee and a $2500 Listing Fee. We collect our Listing Fee upon signing an Exclusive Listing Agreement and our 10% Success Fee is paid at closing, then we deduct the $2500 from the 10% at closing. Your total fee is only 10%. We want to assure we represent your Practice professionally and provide our best marketing and advertising resources for the listing of your Practice Sale.
Our success term takes us anywhere between 4-6 months from the time you list your practice, to receiving an acceptable offer. With many buyers seeking various types of practices, it is our goal to find the right Buyer(s) suitable for your Practice. These decisions are all based upon the buyer’s preferences of location, size of the practice, and style based upon the buyers long-term goals. More importantly, we focus on your patient demographics and surrounding practice nature. The more transparency you prepare us with, along with your financial background and practice history, the better guidance we will provide to you through the due diligence process. Our Executive and Administrative Teams follow thorough guidelines that will provide you with the knowledge and support to make a successful closing.
Our MPL Team has the flexibility to represent both the Buyer and Seller, offering a versatile transactional approach. Successful deal-making requires many years of experience and the best advisory team. With MPL, we ultimately guide the transition of your Practice sale while leveraging our relationships with hundreds of Prospective Buyers, Investors and Healthcare Organizations across the US. We focus on maximizing confidentiality, credibility and professionalism, by providing access to a broader market of increased acquisition targets.