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.
The benefit of working with Yeo & Yeo Medical Billing & Consulting is being able to rely on a highly trained and professional team that can work effectively with providers and administrators to develop a road map for improved revenue recognition. They know how to find the immediate opportunities that make an impact.
Josh Health Administrator
Having utilized Yeo & Yeo Medical Billing & Consulting for the last 12 months, we simply can’t speak highly enough of Kati Krueger and her entire organization. Her team was brought in multiple times throughout the year to audit our billing system and processes. They were very detail-oriented and knowledgeable, but pleasant at the same time. We have come to rely heavily on her and her entire team. It is a vital relationship we will definitely continue.
Our CPA at Yeo & Yeo has been our tax expert since the very beginning, and we always meet with her to talk about different aspects of how we should run the business to take advantage of tax laws and make sure we're doing things the right way. They have been with us step for step the entire time we've been in business.
Mark Co-founder and Principal
Yeo & Yeo has provided medical billing services for our group for almost a dozen years. During that time, we have grown by more than 50 percent. Yeo & Yeo helped us accomplish that with their seamless processes that enabled us to generate a steady income for our physicians. There have been many changes during that time. Regardless if it was switching from paper to electronic billing, or reporting measures for PQRS, Yeo & Yeo managed each step efficiently. Their system of checks and balances assures us that our billings are submitted in a thorough and timely manner. Additionally, Kati and the others have always been readily available to answer questions and generate additional reports as the need arose. Thank you, Yeo & Yeo, for 12 years of outstanding service!
We have used Yeo & Yeo Medical Billing for several years now. The staff is professional and courteous and we can always count on them to be up to date and knowledgeable in the ever-changing world of medical billing and reimbursement. We couldn't be happier with our billing team from Yeo & Yeo!
Lisa Practice Manager
Working with Yeo & Yeo Medical Billing & Consulting has been a very positive experience for me as a therapist, small business owner, and husband/father. Not having to worry about the feast/famine cycle of relying on insurance companies to eventually send me my reimbursement has been such a relief. This allows me to be more present in the moment with my clients and my family, not worrying about money. There is a sense of security and support because you have a team of people available who have expertise in multiple areas, and I have found that billing is more complicated now than ever before. I highly recommend them for their work ethic too. They follow through on tasks and are very personable. I always find them to be a source of new information, and they educate me often about changes I had no idea about.