13 Jan Central NY Ophthalmology Practice
Location: Central New York,
Industry: Healthcare / Medical, Ophthalmology
Listing ID: 1345
Stable, well known ophthalmology practice in one of Central New York’s strongest demographic neighborhoods. This practice is in a leased space located in a large medical office complex and has been serving the greater Syracuse metropolitan area for more than 3 decades.
Billed Revenue in excess of $2.5 million and Collected Revenue of $1.5 million annually. Normalized Seller’s Discretionary Earnings of $775,000. The practice has an overhead ratio of less than 60% of Collected Revenue.
The Top 5 Payers by Collected Revenue include Blue Cross, Patient self-pay, Medicare of NY, Fidelis Care, and Aetna Health.
The owner is the sole provider of medical services and administrative office staff includes 5 FTE. The Seller is currently expanding the business into advanced medicines in the eye-care industry with higher margins and greater percent of billings paid by insurers. The Seller does not currently perform cataract or laser eye surgery (all are referred out).
There is opportunity for a purchaser to increase cash flow by growing the advanced medicines business, performing their own surgical procedures, and improving revenue collections.
Existing doctor is willing to stay on as necessary to ensure a smooth transition.