Professional Practice Sales Provides Opportunities For Smaller Entrants In Local Healthcare

More Doctors and Dentists Are Turning Into Entrepreneurs

As the demand for local healthcare services increases, doctors and dentists are now cashing in on the opportunity to buy, sell and grow medical and dental practices for profit.

There has been a surge of demand among doctors and dentists to buy local practices as a way of creating revenue outside of the traditional practitioner model.  Traditionally, practice ownership has been viewed as a lucrative pathway to income outside of the fee for service model. However, the reality of the situation reveals that it can be fraught with financial headaches, staffing issues and costly problems – depending on the knowledge and experience of the operator.

Industry disruptor Dr Padma Gadiyar, a clinician and current owner of a multi-million dollar medical/dental practice empire believes there is a short cut.

“Buying, growing and selling medical and dental practices is an exact science, with a specific formula for success.  Just as clinicians get repeatable, reliable results from treatment regimes, practice owners must have a specific pathway for business success”, says Dr Padma.

Dr Gadiyar has disrupted the old model of where brokers put buyers and sellers of medical and dental practices together.  She believes that helping people buy and sell practices is not just a transaction the way that traditional brokers work.

Instead, Dr Padma asserts that it’s about strategic business mapping over a minimum of 10 years, rather than a buy/sell transaction. She believes that this is particularly important for smaller operators to understand as, it’s a decision that will effect their business life, their lifestyle and their personal life. Whilst the larger corporate operators generally have a more strategic approach to mergers and acquisitions.

In her experience Dr Padma believes that without the right planning, buyers could be paying up to 30% more and sellers could be leaving tens of thousands of dollars on the table.

“In this environment if you conduct business the same way as it’s been done for the last 10 years, you are in for a rude awakening. For example, in the last 2 years we have noticed a significant shift in patient expectations, online marketing and new technology. This has greatly impacted buying, growing and selling medical and dental practices”, says Dr Padma.  “That’s why mapping out a success plan, using a proven formula before buying, selling, or growing a business could avoid very costly mistakes, and avoid a lot of headaches too”.

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Company Name: Professional Practice Sales
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Country: Australia