Speech Therapy Practice

Business Overview:

The Company provides a wide range of diagnostic and therapeutic services to adults and children of all ages, with goals directed towards improving communication skills. All SLPs are Certified and Licensed, with a minimum of a master's degree (one SLP has her Ed.D.). Services include diagnostic evaluations, therapy, training, coaching and communication counseling for the following: Articulation, Phonologic Processing, Accent Modification, Apraxia, Dysarthria, Aphasia, Receptive Language , Expressive Language, Language/Auditory Processing, Pragmatic Language, Speech Fluency (Stuttering), Voice, Transgender Voice, Cognitive-Linguistic Skills, Autism Spectrum Disorders (ASD), Pervasive Developmental Disorders, Myofunction (Tongue Thrust/Reverse Swallow), and General Communication Skills. Teletherapy, through the Zoom platform, was added to the business services in 2020. Medical health Insurance participation includes: Highmark BlueShield-PPO and UPMC Health Plans. Additional contracts are held with Keystone Autism Services, some school districts, and OVR.

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Property Features and Assets:

The Business occupies a two-story medical arts building which contains numerous medical practices. There are two levels of parking lots with attractive landscaping and signage. Vestibules are situated at the entry for both the upstairs and garden level offices. Within the the Speech Therapy practice suite, there is a common waiting area, 2 restrooms, a front desk with kitchenette, and storage areas. There are two Speech Therapy treatment rooms. Assets = $2,885

Market Competition and Expansion:

The main competition is a Speech Department at a local medical center, however there can be a significant waitlist for outpatient services. The Speech Department doesn’t seem to provide much long-term Speech-Language Therapy and will commonly refer to The Company for additional or ongoing care. Another competitor is a hospital which is located about 20 miles away. There are very few other private practice groups in the area. Although local schools and state-run Early Intervention programs provide Speech Therapy, children must qualify with a 25 % delay and have an “educationally significant” compromise as a result of a communication impairment. Therefore, a number of communication impaired children will NOT qualify for services (which are understandably limited by state funding and are budget driven) and the local SLPs will offer to the concerned parents to contact The Company as an option for pursuing private services. 1. Additional SLPs could be hired to provide more Teletherapy services for the practice and for other online schools (such as PA Cyber Charter School, etc.). 2. Additional contracts could be pursued with local schools to fulfill the legal requirements of students’ Individual Education Plans (IEPs) due to maternity leaves and lack of SLPs on staff, etc. 3. Open a second or third satellite office in the surrounding areas. 4. “Speech and Language IEP Consultation Services” is in the middle planning stages and is set to launch in the fall. One of the SLPs is very experienced with navigating the IEP process (from her previous school job). She approached The Owner this year to provide this service under the umbrella of The Company. 5. To expand the current space and Speech Therapy services with additional treatment rooms and perhaps add (or join with) Occupational Therapy services, etc. 6. To expand the Home-Based and Community-Based services already being provided by three SLPs (in homes, daycares, private schools, etc.).

Reason for Selling:

Retirement.

Additional Details:

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