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The sole shareholder of an ENT group practice desired to sell his ownership stake to several of his employed physicians within the group practice.
After a practice assessment, MDmanagement advised our client that the practice – in its current state – was not worth the desired sale price. The overhead was approximately 83%, the collection of patient and insurance accounts were neither timely or efficient, and there were no financial controls in place.
In order for the owner to receive the desired value, MDmanagement recommended – and received permission to implement the following initiatives to improve the equity in the business:
During a two year engagement, MDmanagement achieved the following results: