It’s time to pass the torch to the right therapist!
A small, well established, centrally located and highly regarded OT practice with a sensory integrative perspective is available for sale due to the upcoming retirement of the owner. The clinic has an emphasis on pediatrics, yet treats people throughout the lifespan, with a client and family-centered approach. The practice is contracted with all of the major insurance providers operating locally, including Medicare and Medical Assistance and also offers pre-paid cash discount programs to those who cannot access insurance.
Current patients come from diverse population groups including families of color, members of the LGBTQ community, families formed through adoption, and those affected by trauma. The practice has developed niche markets within the intellectually gifted population and adoptive families, as well as families with parents or children who identify as transgender.
In 2019, the practice averaged 32 visits per week and provided 39 new patient evaluations. Patient visits are typically 60 minutes, 1x weekly. The typical duration of treatment varies widely from 8 visits to 3 years of weekly visits, with the average settling in the 9-18 months range.
The clinic is housed in a historic industrial building now converted for professional use. It has 13 foot ceilings with easy access to exposed beams for safely hanging suspended equipment, and large windows, creating an airy, spacious feel. It is on the 2nd floor with elevator access for full accessibility. There is plenty of free, on-street parking. Well maintained public bathrooms are just across the hall. The clinic is approximately 1800 square feet, and includes 2 fully built out sensory gyms, 2 smaller office/treatment spaces, a small waiting room and plenty of storage. The lease is reasonable and transferable. The clinic has been impacted both by COVID and the aftermath of the George Floyd protests, but has been able to continue to provide services via telehealth and limited in person sessions. There are many strategic opportunities for the growth and development of the practice under new ownership, to fully actualize the deep roots and connections of the practice with area schools, physicians,other colleagues and families.
Full financial information including but not limited to profit and loss statements, balance sheets, and tax returns for the last three years are available for inspection to serious buyers. The gross revenue for the company was $183,000 in 2019. Current billing rate is $200/hour and the allowed/contracted rate ranges from $179 (BCBS) to $100 (UHC).
The ask price for the practice is $75,000 and includes all equipment. The current owner is flexible about payment terms with a 50% down payment and will consider short term employment with the practice post sale. The owner is committed to making sure there is a smooth transition under new ownership. This is a great opportunity for a therapist looking for a solid foundation upon which to grow or for a second location with great potential for future growth.