This is the 10th anniversary of presenting this webinar and it comes at a very opportune time. While I have personally been involved in practice sales for the last 10 years, and have helped well over 100 practice owners sell their entities, no year has been busier than this year. Fueled both by COVID and continued consolidation trends in the industry, it is more important than ever for therapists to start to plan their exit strategy.
The sale of your practice should start long before it is announced publicly. Proper preparation is essential. Regardless of whom you might end up selling to, two points to always keep in mind are that (1) anything that increases the volume or the security of future revenue will increase the value of your practice, and (2) what makes your practice valuable to you should make it valuable to a buyer. More and more corporate entities are buying up practices across the country. Find out who are they ( a comprehensive list will be provided) and if you are missing the boat, making a deal with the devil, or might be better off selling internally to someone in your practice or a local competitor.
This year, for the first time, I am including interviews with over 15 practice owners who have sold their practices so you can get an inside view of what it is like. I think you will see that the consensus is:Life after selling a private practice is not just a financial transaction; it is a life-changing event.
1) Understand the specific criteria used to determine the valuation of a practice, including EBITDA, goodwill, infrastructure etc. and what are viewed as value makers versus value takers in the industry.
2) Understand the steps necessary to prepare your practice to bring it to market and when to get this process started
3) Find out the financial preparation and forms you need to have in place and for review during due diligence
4) Discuss differences between an outright acquisition, merger, and structured buy in and what determines the best fit for your scenario
5) Understand what makes negotiating with a fellow therapists versus a corporate entity so different and how you can level the playing field
6) Discuss the pros and cons of using a broker or intermediary and what makes a qualified buyer
7) See what you need to do so that you can answer the #1 question: “Can this practice exist without you?”
8) Understand the steps necessary in selling a practice including non disclosure agreements (NDA), letters of intent (LOI) and purchase agreements
and tax allocations of purchase price and implications to be aware of.
9) Life after the sale! It may not be as easy as you think!
YES YES YES!!!! if you are considering buying another therapist’s practice, this info is VERY relevant for you too!
This webinar takes the angst out of selling a practice and present the information in user friendly, logical steps and is presented from both the perspective of the buyer and the seller. You can take a post webinar quiz and get a certificate of participation for 2.5 hours.
This webinar is presented by Iris Kimberg, MS PT OTR CEO of NYTherapyguide.com who, on her own, sold her therapy agency in a multi million $ deal to a Fortune 500 company.Iris has presented this material for the APTA PPS conference and privately to over 1000 therapists. The recording includes the Q/A and handouts as well.
Registration rate of $105 includes all material and replay.
DOES this webinar qualify for CEUs? It depends on your state. Many states have approved this course to count for CEU credits because I outline how the course is relevant to OTPT and ST practice, give a post webinar quiz that demonstrates competence and understanding of material and a certificate of completion. Check with your state. I do not submit the course to the APTA, AOTA, or ASHA although I have given the webinar for the APTA in past years.