Buy Dermatology Practice Fixed
Dermatology Practice for Sale in Washington State. This is a thriving solo medical and surgical dermatology practice in the Pacific Northwest. Annual gross collections are running $1,9000,000+ on 4 days per week of physician coverage. The clinic located in a beautiful 4000+ sq/ft freestanding building, well designed for optimal efficiency and patient comfort. Approximately 11,000+ active patient charts: 50% PPO, 48% Medicare & 2% Cash. Well trained dependable staff includes 2 physician assistant extenders. Substantial growth potential by opening an additional day and accepting new Medicare patients. Largely untapped cosmetic dermatology market. Small town charm with access to big city amenities in the nearby Seattle Metro area. Selling doctor will provide generous transition assistance to new buyer. Dermatology Financing for Practice Purchase is also Available.
buy dermatology practice
Less back-office burden. More patient focus. Get the financial freedom you desire with the medical and operational autonomy you deserve when you sell your practice to Integrated Dermatology. Create personal wealth and remain a full partner in your practice after joining our team. You will retain full medical decision-making power and have the backing of our expert team to assist with complex and time-consuming operational decisions.
We buy dermatology practices, enabling dermatologists to remain true partners who practice with complete autonomy. We also provide career opportunities for dermatologists seeking to join an established practice.
Our goal: To empower our physician partners to optimize the value of their practice while retaining their autonomy, resulting in a fulfilling career with control and ability to offer great patient care.
New York-based private equity firm Harvest Partners recently purchased Maitland, Fla.-based Advanced Dermatology & Cosmetic Surgery, the largest U.S. dermatology practice, in a deal reportedly worth more than $600 million.
Varsity Healthcare Partners sold dermatology practice Forefront Management Holdings to the private investment arm of pension fund giant Ontario Municipal Employees Retirement System in a deal worth more than $450 million.
Healthcare access. More and more Americans have access to healthcare thanks to the Affordable Care Act. About 20 million people have gained insurance coverage between the passage of the law in 2010 and early 2016, boosting demand for dermatology.
Financials. Common medical and surgical dermatology procedures are typically well reimbursed. Additionally, high-margin cosmetic procedures tend to be paid out of pocket by consumers and are not as reliant on discounts made to insurance providers as many other types of medical care. Notably, most dermatology work is conducted outside of hospitals and as such is not subject to the push for cost-savings underway at hospital systems.
The upsell. Many dermatology practices have a cosmetic component, offering everything from Botox, Restylane, micro-dermabrasion and laser correction, CoolSculpting (a non-surgical fat removal process), high-end skin creams and other services. Investors like the idea of training doctors to do a better job of upselling such offerings so that patients who might come to have a mole removed are likelier to sign up for more lucrative services.
Busy 10-year-old Massachusetts Dermatology Practice for sale located in an affluent suburb 20 minutes from Downtown Boston. Well equipped with advanced technology offering state of the art medical and cosmetic dermatology services. The practice currently operates three days per week and accommodates approximately 24 patients per day.
This Boston area dermatology practice for sale has 1,350 sq. ft. of leased first floor space. Lease expiration July 2022. The clinic has three exam rooms, lab, file room, front office/sitting area, MD office, and one additional room which can be used as an additional exam room or a practitioner office.
Multiple opportunities for growth include adding additional providers and offering more days of service per week. Expanding cosmetic dermatology services with additional hand pieces for the ICON system for treatment of leg veins, ablative resurfacing and skin tightening/body contouring. Further opportunities for expansion include expanding telehealth, product sales and creating a comprehensive digital marketing platform. This dermatology practice is located in a quiet, desirable suburb and is minutes from the culture and excitement of the City of Boston. As the capital and most populous city in the Commonwealth of Massachusetts, the city is one of the oldest municipalities in the United States and the scene of several key events if the American Revolution. Boston is home to Fenway Park, the historical North End, Museum of Fine Arts Boston, the Freedom Trail, first-class shopping districts, fine universities and abundant outdoor recreation opportunities.
This medical practice for sale opportunity is offered by Tinsley Medical Practice Brokers, a medical practice appraisal, medical practice brokerage, medical practice performance consulting and medical practice financing firm. Our group is a leader in physician consulting, business development, financing solutions and medical practice appraisal and pre-and post transaction consulting.
Running a medical practice is often a high-wirebalancing act. Each day, practicing physiciansmake clinical decisions regarding patients'skin care regimens, therapeutic approaches todisease, and management of staff and operations.While physicians' training and expertise is in clinicalmanagement and decision-making, it is equallyimportant to make sound investments and financialdecisions that enable smooth operations andincrease revenues.
For dermatologists who practice aesthetics, clinicaland financial decisions run more closely together insome ways. Unlike the medical side of practice,which involves mostly diagnosis and drug selection,aesthetic dermatology requires investments in devicesand procedures that physicians subsequently mustintegrate smoothly into practice. It involves clinicaldecision-making with practice operations, if onlybecause devices require skill and time to operate, notto mention a certain market savvy on the part ofphysicians to know what patients demand.Compounding these matters are a number of intricateissues relating to financial considerations. Ahead,Michael S. Kaminer, MD, Assistant Clinical Professorof Dermatology at Yale Medical School and practicingcosmetic surgeon and Managing Partner at Skin CarePhysicians in Chestnut Hill, MA, shares insights onthe processes of selecting medical devices and proceduresthat suit your practice and style and willexplore a full breadth of issues relating to general investments and tips for gaining the highestpossible return on investments.
The second variable in this equation is the operatingexpense ratio (OER), or overhead rate. Assuming a50 percent OER, of the $340 per hour of revenue, halfwill go to paying for lights, rent, supplies and othercosts of running your business. That leaves $170 ofprofit per hour per room. This number can helpguide your decision making as to what procedures toincorporate into your practice, how much you canafford to pay for a new device, and what price youshould charge for procedures.
Take-Home TipsUnderstanding the operating expense ratio(ratio of expenses to overall practice revenue) is essential toefficient practice management and enables calculation of overheadcosts and project earnings. Aim to have the cost of a procedure(consumables plus device carrying costs) be less than 25 percentof the total procedure price. The right price to charge for aprocedure is one that allows sufficient patient volume, coversexpenses, and generates a reasonable profit.
The Relationship with Device ManufacturersDevice manufacturers understand that capital equipment purchases can beexpensive. Finding a company that is willing to work with you to ease theprocess and help you effectively add a new technology to your practice can beextremely valuable. Some important variables to look for:
Tips on Hiring Support Staff and Incorporating Them into aPractice with Devices and Laser ProceduresMedical support staff (nurses, medical assistants, etc.) are often one of themost important assets of a dermatology practice, and effective utilization ofthis staff can be a rewarding experience and generate significant returns oninvestment. As devices and procedures become more automated, medical supportstaff can become extremely efficient extenders of physician time andskill. Numerous procedures can be effectively delegated to nursing staff underappropriate supervision by the physician as outlined by state regulations. Thisallows physicians to leverage their time and expertise by delegating thoseprocedures that do not need direct hands-on involvement of the physician toqualified support personnel. Ultimately, this strategy allows both physiciansand their support staff to be generating revenue independently and at thesame time.
Private equity, known for making a profit on quick-turnaround investments in struggling businesses across many industries, has taken an increasingly active interest in health care in the past decade. It has invested in gastroenterology practices in recent years to tap into the revenue potential in meeting growing demand.
Studies show that private equity investment in health care results in more surprise bills and overall higher costs for patients. Surprise billing is the practice of charging insured patients for out-of-network care unknowingly received, including in emergencies and at otherwise in-network facilities.
Complex government regulations, technological innovations, and insurance industry practices have driven many gastroenterologists to sell shares in their practices, said Praveen Suthrum, who runs a consulting company for physician practices. Many physicians argue reimbursement rates are too low to keep up with complex negotiations with insurers and the other rising costs of operating an independent practice. 041b061a72