Business Overview:
This exceptional medical services opportunity has been serving the Southern CA Korean community for the last 25 years.
The Medical Center facility is 2,500 Square Feet, with a reception area, four exam rooms, one nursing station, one CT room, one Ultrasound room, and an X-ray area. Staff consists of two MDs, one RN, one Part Time CT Tech, one Full Time and one Part Time ultrasound Techs, two MAs, two receptionists, and three Billing clerks. It is offering services such as: Ultrasonography, Ultrasound, CT-Scan, X-Ray, and Preventative Medical Screenings.
The Outpatient Endoscopy Surgery Center is an approved by AAAHC Medicare DEEMED status ASC endoscopy surgery center. The facility is 1,500 Square Feet with one procedure room, two recovery areas, one waiting area, and one reception area. Staff consists of one RN, three MAs, one receptionist, one GI (same as the one MD in FMC), and an independent contractor Anesthesiologist. It is offering services such as: Gastroendoscopy and Colonoscopy.
The businesses provide quality care to PPO clients as well as fee for service (no HMO), as a full service, one stop medical care, including CT, X-Ray, ultrasound and endoscopy.
Although these businesses are doing very well and have a good growth track record, there are many more opportunities for a new owner to grow the businesses with the following efforts:
- Offer an Anesthesiologist Service internal to the practice.
- Outreach to non-Korean population.
- Escalate multi-channel marketing efforts.
- Bring an additional GI on board.
- Add HMO contracts.
- Add more procedure rooms.
The service market includes the Korean population in Southern CA. Local Primary Doctors as well as word of mouth from satisfied clients, and local community advocates have been a strong referral source.
The Businesses compete with Other Doctors and surgery centers in the area. The other Korean leaning competitors are not in close proximity.
Revenue for the Specialist Doctors industry is estimated to grow at an annualized rate of 1.5% to $324.9 billion over the five years to 2022. Overall, specialty practices have benefited from rising total health expenditure, increased demand from an aging population and improving access to health insurance due to recent reforms. However, annualized growth is being pulled down slightly by an estimated 1.5% decline in revenue in 2020 due to the COVID-19 (coronavirus) pandemic. Industry operators had to cancel or delay elective procedures, which tend to account for the bulk of revenue. Due to the specialized nature of industry services, it has been more difficult for industry operators to adopt telehealth in comparison to primary care doctors. As the economy has moved beyond the pandemic, revenue growth is expected to surge to 5.5% in 2021 before increasing 0.7% in 2022.
Key growth drivers, including income levels and private health insurance rates, are forecast to improve or remain steady over the five years to 2027. Lasting effects of the pandemic on physical and mental health will also promote increased investment into the healthcare sector, benefiting operators. As a result, demand for certain specialties, such as pulmonology and psychiatry, are expected to increase significantly in the post-pandemic recovery period. Demand for industry services will rely somewhat on the labor market's recovery speed because most individuals rely on employment for health insurance. Overall, IBISWorld expects industry revenue to rise at an annualized rate of 1.7% to $352.9 billion over the five years to 2027.
The seller is selling for personal reasons but will assist during a transitional period. The Caregivers and staff, all W2 employees, are available to work with a new owner.
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Market Competition and Expansion:
Potential Growth Excellent.
Reason for Selling:
Retirement
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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