What is your practice worth?
Are you considering selling, discontinuing or expanding your medical practice, acquiring another practice, or beginning the estate planning process? Do you need to buy-in a new partner or associate?
Whatever your situation is, you need knowledgeable professionals to help with this critical appraisal. Business valuations help you prove the financial condition of your practice and make these difficult decisions.
When should you have your medical practice valuated?
Buying a practice. How much should you pay for a practice, the client list, patient receivables, etc.?
Expanding the practice. Perhaps you are taking on a partner physician or bringing in a physician to eventually buy the practice (succession planning).
Determining professional goodwill versus practice goodwill. How much is due to the successful operation of a practice and how much is due to the reputation and skill of the physician?
Retirement planning. How much should you expect to get for your practice? Eliminate the guessing game.
Tax planning. Which tax strategies will be the most beneficial, and what is the optimal timing for making a significant change within the practice?
Many factors affect a medical practice’s value, including practice size, specialty, staffing, and even location, and determining a defensible value of a practice’s goodwill requires considerable objectivity and expertise.
Professional valuation and litigation support services are based on extensive professional training and certifications. Yeo & Yeo CPAs are experienced and thoroughly versed in modern business valuation techniques and professional standards in the performance of valuations. Members of the firm’s Business Valuation & Litigation Support Group hold the Accredited in Business Valuation (ABV) designation and are Certified Valuation Analysts (CVA).
Buying or selling a practice is one of the biggest steps you will ever take. Yeo & Yeo can help.