Ever though about selling your practice?
Whether you’re a clinician-turned owner/operator, someone who acquired a private practice (like this one), or a manager or administrator in a larger organization, the words mergers and acquisitions can cause your eyes to glaze over. Your mind immediately turns to financial metrics, productivity, KPIs, and mind-numbing statistics.
However, if you want to receive equitable reimbursement for the time, energy, and risk you’ve taken to build your business, you must begin to understand the business & financial metrics. You also need to get a game plan in place —well in advance of your desired exit date— to allow for a smooth transition & peaceful exit when it does come time to sell. As someone who recently made an acquisition of an outpatient PT clinic, I can tell you that buyers definitely value and appreciate an owner who has their ducks in a row when it’s time to hit the “buy now” button. So how can owner/operators put the pieces in place to exit when they want to and receive the highest sale price possible for their business?
My guest this week, Mike Piekutoski from 8150 advisors is the perfect person to speak to about this topic. He has worked as a clinical, but has spent the last decade or so working in the Mergers & Acquisitions space, particularly in the rehabilitation market (PT/OT clinics).
What we cover in this Episode
- What may prompt an owner/operator to sell/exit their business
- Taking a Biopsychosocial Approach to healthcare
- What owners can do to increase the value of their practice
- Why buyers look for clinics delivering Better Outcomes
- The importance of building a great team & developing a strong culture if you plan to sell
- How to place a price on Patient Experience, Patient Retention, and the like
Connect with Mike & 8150
If you enjoyed this episode: Join Rafael E. Salazar II, MHS, OTR/L (Rafi), principal of Rehab U Practice Solutions and host of The Better Outcomes Show as he explores the possibilities of a new healthcare. Guests range from clinicians trying new techniques and treatments to executives and entrepreneurs exploring new service delivery methods, business models, and organizational structures. You can sign-up to receive new episodes delivered directly to your inbox by filling out the form at the top of this page. Learn more about Rehab U Practice Solutions by reading The Manifesto for a New Healthcare, or listen to Episode 000.
Are You Ready to Take Your Organization to the Next Level?
If you run a clinic or practice and are looking to develop a strategy that leverages best practices, new technology, and marketing/messaging in a way that maximizes patient engagement & retention, please reach out. We’d love to talk with you about how Rehab U Practice Solutions can help your clinic bring in more patients, retain them throughout their course of care, and create uniquely impactful patient experiences.
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Work With Us
If you’re ready to craft a strategy to help your organization bring in more clients, retain them throughout their course of care, and create uniquely impactful patient experiences, then reach out. We’d love to talk with you about how Rehab U Practice Solutions can help.
What we can help you do:
✅ Train your staff and clinicians to be able to confidently communicate the value your organization provides…
✅ Leverage best practices, new technology, telehealth, and marketing/messaging to maximize patient engagement & retention…
✅ Develop a system that keeps patients & clients happy, engaged, and satisfied throughout the entire process of care…
We help you not only craft marketing messages & campaigns that build that know, like, & trust value you need to convert leads into scheduled clients; but we also work with your clinicians and staff to make sure that, once a patient decides to schedule an appointment, you have a system setup that keeps them happy, engaged, and satisfied throughout the onboarding, treatment, and discharge process.
In short, we help your whole organization become focused on the most important thing in healthcare: people – the people who work for your organization, and the people who your organization treats and serves.