Long Established Outpatient Psychiatric Clinic
Mental Health ยท MI
About This Business
Available for acquisition is a unique opportunity to own a long-established Comprehensive Outpatient Psychiatric Clinic with impeccable reputation in the community. This clinic carries a prestigious CARF accreditation and provides assessment, counseling, psychotherapy, and substance abuse services.
Experienced staff consists of DO/MD's, Ph.D LMSW's, and LPC's as well as office personnel, who are expected to continue with new ownership. Patients come from direct referrals to personnel as well as agency referrals from various sources amounting to approx. 35-40 new patients each month. The billing is done in house with great rate of collections. The company's business mix consists of majority of private insurance with approx. 10% Medicare and 10% Private pay. The clinic is on all major insurance and most small area panels. With a stable clinical team and an outstanding reputation for over 23 years in the community, this clinic could thrive with the energy of a new owner.
The seller would like to retire, but is open to remain in consulting capacity if needed. More information is available with signed NDA.
Facilities:
The office is located in the desirable part of Oakland County and operates out of 2,000 sq. ft. building, which is currently owned by the seller. Various options are available for relocation, lease or purchase depending on buyer's preferences.
Market Outlook
Competition: The business has been continuously CARF accredited demonstrating the highest quality in the field. Superb reputation and established name in the community since 1992 allow the company to depend on their agency referral base.
Growth and Expansion:
The revenues could be increased by contracting additional professional staff. A new owner bringing fresh energy could participate in additional networking and marketing efforts.
About the Sale
Support/Training: Seller will provide adequate training to insure smooth transition.
Terms: Negotiable
Reason Selling: Retirement
Psychiatrist (1) on staff: 4 days per month - paid on the hourly rate, also consults therapist on cases
Physologist (2) PhD - 2 staff members/Independent Contractors
Employees:
Office staff:
Office Manager - full time employee
Receptionist
Biller
** All office staff is cross trained to handle each other's duties if needed
Owner- is on W-2
Billing system:
Own the system, all billing is done in-house. Turnaround time is about a week.
Collection rate is 92-96%, which is considered high in this field.
Capacity of the first building is at 75-80%. The next building is also available for expansion, approx. 1,400 sq ft
Owner's responsibilities:
Approx. 20 therapy hours per week case load.
Administrative - 5-10 hours weekly, includes:
Presence at the clinic (leader on board, "go to" person
Reviewing finances
Oversee full functionality of CARF
Maintenance if needed
Highlights
- Long-established outpatient psychiatric clinic since 1992
- CARF accredited with strong community reputation
- Experienced clinical and office staff expected to continue
- In-house billing with 92-96% collection rate
- Located in 2,000 sq. ft. building in Oakland County
- Capacity at 75-80% with expansion space available