{"id":4806,"date":"2017-02-16T15:47:36","date_gmt":"2017-02-16T20:47:36","guid":{"rendered":"https:\/\/systems4pt.com\/staging\/?p=4806"},"modified":"2017-02-16T15:55:10","modified_gmt":"2017-02-16T20:55:10","slug":"common-sense-advice-selling-practice","status":"publish","type":"post","link":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/","title":{"rendered":"Common Sense Advice on Selling Your Practice"},"content":{"rendered":"<p>Each of us knows someone who has sold their practice to a larger network, hospital, or orthopod.\u00a0 Who wouldn\u2019t like the idea of a big payday and the chance to relax a bit? But if you\u2019ve been thinking about selling your practice, read on to avoid making a HUGE mistake.<\/p>\n<p>The value of a practice is based on a multiple of profit.\u00a0 To keep things simple, let\u2019s focus on pretax profit. It\u2019s common to see buyers pay 3 to 5 times pretax profit.\u00a0 For example, if pretax profit is $20,000 per year, 3 x $20,000\u00a0 results in a $60,000 practice valuation.<\/p>\n<p>Have you spoken with many practice owners who sold?\u00a0\u00a0 Here are some typical comments:<\/p>\n<ul>\n<li>\u201cI wasn\u2019t paid much. I got enough to pay for a good vacation, but at least I know I have a job\u201d<\/li>\n<li>\u201cOnce the deal was done, everything changed. The new owner started totally micromanaging me\u201d<\/li>\n<li>\u201cI still work here, but it clearly isn\u2019t my practice anymore. Painful\u201d<\/li>\n<\/ul>\n<p>Before selling your practice it\u2019s vital to understand what the buyer wants out of the deal.\u00a0 Their goal is not to help your patients.\u00a0 Their end-game is to make a lot of money.<\/p>\n<h3><b>Scenario 1<\/b><\/h3>\n<p><img decoding=\"async\" class=\"lazyload aligncenter wp-image-4807 size-full\" src=\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide1Picture-e1487278195899.png\" data-orig-src=\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide1Picture-e1487278195899.png\" width=\"362\" height=\"303\" srcset=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27362%27%20height%3D%27303%27%20viewBox%3D%270%200%20362%20303%27%3E%3Crect%20width%3D%27362%27%20height%3D%27303%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-srcset=\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide1Picture-e1487278195899-200x167.png 200w, https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide1Picture-e1487278195899-300x251.png 300w, https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide1Picture-e1487278195899.png 362w\" data-sizes=\"auto\" data-orig-sizes=\"(max-width: 362px) 100vw, 362px\" \/><\/p>\n<p>In Scenario 1,\u00a0 the practice treats 974 patients per month and earns 1.5% pretax profit.\u00a0 The practice owner makes a total of $95,432 annually.\u00a0 \u201cNot bad\u201d the practice owner thinks.\u00a0 \u201cBut it seems like working 60 hour weeks for 22 years should be worth more.\u00a0 It\u2019s hard to accept that my practice, my life\u2019s work, is worth less than $50 grand.\u201d<\/p>\n<p>After selling, the practice owner is discouraged as the new owner berates them into increasing efficiencies, measuring everything, and stretching like they\u2019d never stretched before.\u00a0 Welcome to reality, the new owner is focused on increasing profits.\u00a0 And as they succeed, they get to keep the 3 to 5 times multiple (even though you\u2019ll do the work).<\/p>\n<h3><b>A Better Plan<\/b><\/h3>\n<p>Rather than sell out for a pittance and then make your new boss wealthy \u2013 <u><i>Consider our approach.<\/i><\/u><\/p>\n<p>Systems4PT is unique.\u00a0 Our integrated technology quantifies profit, by therapist, by month, including drill-down data for every metric that impacts earnings.\u00a0\u00a0 We\u2019ll give you performance benchmarks for practices your size and we provide no-charge business coaching to help you achieve those goals.<\/p>\n<p>Simply put, follow our protocols and the practice owner will enjoy a six-figure salary and 10-15% pretax profit.\u00a0 This information is provided to you via a one-page report that is integrated with your EMR\/billing system so you don\u2019t waste time creating reports or combing through dozens of pages searching for what to do.<\/p>\n<p>Let\u2019s discuss Scenario 2.\u00a0 This is our sample practice, after the owner has used Systems4PT and applied our protocols<\/p>\n<h3><b>Scenario 2<\/b><\/h3>\n<p><img decoding=\"async\" class=\"lazyload aligncenter wp-image-4808\" src=\"data:image\/svg+xml,%3Csvg%20xmlns%3D%27http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg%27%20width%3D%27443%27%20height%3D%27363%27%20viewBox%3D%270%200%20443%20363%27%3E%3Crect%20width%3D%27443%27%20height%3D%27363%27%20fill-opacity%3D%220%22%2F%3E%3C%2Fsvg%3E\" data-orig-src=\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/Slide2Picture.png\" width=\"443\" height=\"363\" \/><\/p>\n<p>The same practice as shown in Scenario 1, with the same patient volume, <i>now yields 12% pretax profit.\u00a0 <\/i><\/p>\n<p>The owner\u2019s annual income is nearly a <i>quarter million dollars<\/i>.\u00a0 And instead of having the option to sell the practice for less than $50 grand, the owner now has the ability to sell her life\u2019s work for <i>over $600,000<\/i>. She also has the wonderful option to stay put, do things her way, and enjoy her success.<\/p>\n<h3><b>What Changed?<\/b><\/h3>\n<p>In Scenario 1, the practice owner who sold focused on the basics of profitability at the insistence of the new owner.\u00a0 And even though the former practice owner did the work, the new owner kept all the money.<\/p>\n<p>In Scenario 2, the practice owner used Systems4PT\u2019s integrated tools and measured profit by therapist.\u00a0 With our coaching, she then addressed the issues that improved each therapists\u2019 earnings.<\/p>\n<p>Take a look for yourself.\u00a0 Speak with some of our practice owners who have enjoyed this success.<\/p>\n<p>We don\u2019t charge for these services.\u00a0 Our goal is to work with the strongest, most successful private practices in outpatient rehab.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Each of us knows someone who has sold their &#8230;<\/p>\n","protected":false},"author":1,"featured_media":4812,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[56],"tags":[],"class_list":["post-4806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Common Sense Advice on Selling Your Practice - Systems4PT<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Common Sense Advice on Selling Your Practice\" \/>\n<meta property=\"og:description\" content=\"Each of us knows someone who has sold their ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\" \/>\n<meta property=\"og:site_name\" content=\"Systems4PT\" \/>\n<meta property=\"article:published_time\" content=\"2017-02-16T20:47:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-02-16T20:55:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Systems4PT\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Systems4PT\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\"},\"author\":{\"name\":\"Systems4PT\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/cbd6a79a0c6efcdf4bf949f37beca785\"},\"headline\":\"Common Sense Advice on Selling Your Practice\",\"datePublished\":\"2017-02-16T20:47:36+00:00\",\"dateModified\":\"2017-02-16T20:55:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\"},\"wordCount\":636,\"publisher\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/#organization\"},\"image\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg\",\"articleSection\":[\"General\"],\"inLanguage\":\"en\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\",\"url\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\",\"name\":\"Common Sense Advice on Selling Your Practice - Systems4PT\",\"isPartOf\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg\",\"datePublished\":\"2017-02-16T20:47:36+00:00\",\"dateModified\":\"2017-02-16T20:55:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#breadcrumb\"},\"inLanguage\":\"en\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage\",\"url\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg\",\"contentUrl\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg\",\"width\":1200,\"height\":628},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/systems4pt.com\/staging\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Common Sense Advice on Selling Your Practice\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#website\",\"url\":\"https:\/\/systems4pt.com\/staging\/\",\"name\":\"Systems4PT\",\"description\":\"Physical Therapy Software: Scheduling, EMR and Billing\",\"publisher\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/systems4pt.com\/staging\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#organization\",\"name\":\"Systems4PT\",\"alternateName\":\"S4PT\",\"url\":\"https:\/\/systems4pt.com\/staging\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2023\/06\/cropped-favicon-avada-512x512-6.png\",\"contentUrl\":\"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2023\/06\/cropped-favicon-avada-512x512-6.png\",\"width\":512,\"height\":512,\"caption\":\"Systems4PT\"},\"image\":{\"@id\":\"https:\/\/systems4pt.com\/staging\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/cbd6a79a0c6efcdf4bf949f37beca785\",\"name\":\"Systems4PT\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en\",\"@id\":\"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/1373afdc7d5dc0851bb1478a44d4a874?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/1373afdc7d5dc0851bb1478a44d4a874?s=96&d=mm&r=g\",\"caption\":\"Systems4PT\"},\"url\":\"https:\/\/systems4pt.com\/staging\/author\/systemsadmin4pt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Common Sense Advice on Selling Your Practice - Systems4PT","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Common Sense Advice on Selling Your Practice","og_description":"Each of us knows someone who has sold their ...","og_url":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/","og_site_name":"Systems4PT","article_published_time":"2017-02-16T20:47:36+00:00","article_modified_time":"2017-02-16T20:55:10+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg","type":"image\/jpeg"}],"author":"Systems4PT","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Systems4PT","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#article","isPartOf":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/"},"author":{"name":"Systems4PT","@id":"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/cbd6a79a0c6efcdf4bf949f37beca785"},"headline":"Common Sense Advice on Selling Your Practice","datePublished":"2017-02-16T20:47:36+00:00","dateModified":"2017-02-16T20:55:10+00:00","mainEntityOfPage":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/"},"wordCount":636,"publisher":{"@id":"https:\/\/systems4pt.com\/staging\/#organization"},"image":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage"},"thumbnailUrl":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg","articleSection":["General"],"inLanguage":"en"},{"@type":"WebPage","@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/","url":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/","name":"Common Sense Advice on Selling Your Practice - Systems4PT","isPartOf":{"@id":"https:\/\/systems4pt.com\/staging\/#website"},"primaryImageOfPage":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage"},"image":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage"},"thumbnailUrl":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg","datePublished":"2017-02-16T20:47:36+00:00","dateModified":"2017-02-16T20:55:10+00:00","breadcrumb":{"@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/"]}]},{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#primaryimage","url":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg","contentUrl":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2017\/02\/S4PTBlog2.14Social.jpg","width":1200,"height":628},{"@type":"BreadcrumbList","@id":"https:\/\/systems4pt.com\/staging\/common-sense-advice-selling-practice\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/systems4pt.com\/staging\/"},{"@type":"ListItem","position":2,"name":"Common Sense Advice on Selling Your Practice"}]},{"@type":"WebSite","@id":"https:\/\/systems4pt.com\/staging\/#website","url":"https:\/\/systems4pt.com\/staging\/","name":"Systems4PT","description":"Physical Therapy Software: Scheduling, EMR and Billing","publisher":{"@id":"https:\/\/systems4pt.com\/staging\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/systems4pt.com\/staging\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/systems4pt.com\/staging\/#organization","name":"Systems4PT","alternateName":"S4PT","url":"https:\/\/systems4pt.com\/staging\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/systems4pt.com\/staging\/#\/schema\/logo\/image\/","url":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2023\/06\/cropped-favicon-avada-512x512-6.png","contentUrl":"https:\/\/systems4pt.com\/staging\/wp-content\/uploads\/2023\/06\/cropped-favicon-avada-512x512-6.png","width":512,"height":512,"caption":"Systems4PT"},"image":{"@id":"https:\/\/systems4pt.com\/staging\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/cbd6a79a0c6efcdf4bf949f37beca785","name":"Systems4PT","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/systems4pt.com\/staging\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/1373afdc7d5dc0851bb1478a44d4a874?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/1373afdc7d5dc0851bb1478a44d4a874?s=96&d=mm&r=g","caption":"Systems4PT"},"url":"https:\/\/systems4pt.com\/staging\/author\/systemsadmin4pt\/"}]}},"_links":{"self":[{"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/posts\/4806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/comments?post=4806"}],"version-history":[{"count":3,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/posts\/4806\/revisions"}],"predecessor-version":[{"id":4811,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/posts\/4806\/revisions\/4811"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/media\/4812"}],"wp:attachment":[{"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/media?parent=4806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/categories?post=4806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/systems4pt.com\/staging\/wp-json\/wp\/v2\/tags?post=4806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}