What a Buyer Digs Into First
- Payer mix across commercial plans, Medicare, workers' compensation and military coverage
- Referral sources and how many come from a single practice
- Visits per therapist per day and cancellation rates
- How much of the revenue the owner treats personally
- Billing and collections, including denials and aging
Who Is Buying Clinics
Regional therapy groups and private equity backed platforms have been buying outpatient clinics across Colorado.
They want locations with steady referrals and staff in place. Individual therapists buying their first clinic are another group, often using SBA loans.
Owner Production Is the Key Issue
In many small clinics, the owner sees the most patients. A buyer then has to replace the owner's work as well as the owner's management. That lowers the price, unless the owner agrees to stay on for a set period after the sale.
Clinics where associate therapists carry most of the visits sell more easily and at a better multiple.
Payer Mix in This Market
Colorado Springs has a large military and veteran population, so military health plans and veterans' community care programs can be a meaningful share of visits. Buyers look at reimbursement rates by payer and how reliably each one pays.
Workers' compensation and sports injury work from the active outdoor population can also be valuable, but they depend on referral relationships that need to transfer.
Records That Help
- Visit counts by therapist by month for three years
- Collections by payer, not just billed charges
- Referral reports showing the top sources
- Leases for each location, with renewal options
Our guide on getting your books ready for a business sale covers the financial side.
Credentialing Takes Time
A buyer of the assets usually needs its own payer contracts, and credentialing can take months. A stock sale may avoid some of this, but the structure has tax and liability effects for both sides. Talk with a health care attorney early.
Next Step
See how buyers price an established business and seller financing and SBA loans, then request a confidential valuation.