Medical Billing and Medical Practice Services

Allen, TX (Collin County) (Relocatable)

MEDICAL BILLING
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Asking Price: $3,900,000

Cash Flow: $833,382

Gross Revenue: $2,019,028

EBITDA: N/A

FF&E: $46,298

Inventory: N/A

Rent: $6,258 /Month

Established: 2000

Medical Billing and Medical Practice Services

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Business Description

Outstanding Medical Billing Opportunity

This practice management consulting and medical billing company presents an exciting, rare opportunity for an individual looking to invest in a compelling and highly profitable business model on the cusp of truly explosive growth.

The company has developed an innovative method of overhauling the entire function of a medical practice, that increases medical practice revenue by as much as 50% without ever increasing the amount of patients the physicians see.

The company offers a comprehensive approach in transforming practice management, billing, and electronic medical record keeping. Many practices and providers commonly lack understanding when it comes to coding and billing, so this company's goal is to fill those gaps with thorough training.

1) Strategic Partnerships. Strong relationship with accountable care organizations (ACOs) in the industry. These organizations are tasked with managing the quality at primary care offices. Billing companies that partner with ACOs are more likely to maintain a competitive edge and keep market share. This business holds strategic partnerships with local ACOs to ensure that business remains strong.

2) Client Retention. Most billing contracts last about 3-5 years and most physicians will switch billing after their contract expires. In-house billing companies aren't able to keep up with industry changes and its increasing complexity. This business is able to retain more clients by keeping pace with industry trends and changes with a tiered information distribution system that starts with top management and flows down to mid-management and the practices themselves.

3) Automation and Efficiency. Typical billers can only handle 2-3 practices. By leveraging automation and technology, They are able to handle more work with less staff. Their automated services provide more value to clients and as a result, allow them to hold more pricing power in the market.

4) Days in Accounts Receivable. The industry average for number of days in accounts receivable is 32. They average around 12.

We will provide a detailed Video summary of this business once a Confidentiality Agreement is signed.

Detailed Information

Location:
Allen, TX
Real Estate:
Leased
Building SF:
2,200
Lease Expiration:
11/30/2022
Employees:
19
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
2500 SF facility with 4 years remaining on the lease
Competition:
The competitive advantages are from the strengths this company has to offer (comprehensive approach, strategic partnerships, high client retention, automation, and a low AR rate).
Support & Training:
One owner would stay on board.
Reason for Selling:
Other opportunities
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Ken Pokorny

Business Listed By:
Ken pokorny

Murphy Business & Financial Corp

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