Southwest Riverside County Pediatric Speech Therapy Practice

Business Overview:

This profitable pediatric practice provides a range of speech therapy services and occupational therapy services including evaluations and treatment. Services include:•Clinical and educational speech and language evaluations and therapy •Educational occupational evaluations and treatment for fine motor or sensory needsThe practice provides services to public and private entities. Revenue sources are derived from: Health Insurance Companies (74%), California Charter Schools (35%), and private pay patients (10%). The focus is on pediatrics - infants, toddlers and children through age 21. California signed into law SB 946 on July 1, 2012. This law paved the way for individuals, including children, with Autism and other developmental disorders to receive coverage from private insurance companies. The Practice is able to bill a large number of medical insurance companies with the main ones being IEHP, Kaiser and TriCare. Due to the Company’s caring environment, they have a very high retention rate. The Practice has an excellent reputation among special needs families and school districts in the area and they receive many word of mouth referrals. The clinic currently has an overabundance of referrals and referral sources. They have a 7 to 8 month waiting list and are expanding their ability to help children as fast as they are able, with the challenge being hiring and retaining staff. The owner does an average of 10-12 hours of billable time (evals or treatments) per week. The rest of the time is managing the business and training staff. Her business management hours have increased lately due to the implementation process of a new EMR system.

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Property Features and Assets:

3,022 square foot facility at a monthly lease cost of $5,265, on a month-to-month lease. The facility consists of two office suites that are centrally located totaling 3,022 sq. ft. There is an adjoining third suite option that is available as well.

Market Competition and Expansion:

Upside potential includes pursuing HMO health insurance contracts, raising pricing to competitive levels of $90/session, and advertising to the special needs communities and local pediatricians. Additional potential would exist to expand the current offering to other allied health therapies to become a multidisciplinary practice.

Reason for Selling:

Prefers providing therapy rather than continuing in the management role.

Additional Details:

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