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Turn-key Family Medicine Practice Profitable And Community Dedicated In Harford County For Sale

Harford County, Maryland, US
Asking Price:
$1,025,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$2,073,916
Cash Flow:
$465,182

This Turn-key Practice is Profitable and Charitable

Since 2002, this award-winning family medicine practice has been meeting the health needs of the community by providing excellent, efficient medical care, collaborative care, and wellness promotion.

Being family centric, they see all generations, from newborns to the dying, and are available to care for people from all socioeconomic backgrounds.

This busy practice had 13,488 encounters in the past year, which included over 300 Medicare wellness visits.

Payor mix is approximately 62% commercial, 21% Medicare, 11% Medicaid, Self/Private pay 6%.

Services include: infant, child, adolescent, and adult preventive services; same-day appointments for acute pain, infections, and urgent care needs; Immunizations; sports, school, and employment physicals; allergy injections; mole and wart removal; women’s health and GYN care; house calls; suturing of lacerations; minor surgery, including toenail removal; and behavioral health and mental health needs.

In addition to the physician owner, the staff includes 1 nurse practitioner, 1 physician assistant, 5 medical assistants, 4 receptionists, 4 managers, 1 referral coordinator, and 1 community coordinator.

Property Information

Location:

Harford County, MD

Premises Details:

Located approximately 50 minutes Northeast of Baltimore. Single-level shared suite in a stand-alone 3-suite building with 4,353 SF. Facilities include waiting room with seating for 29 patients, 1 procedure room, 7 exam rooms, 3 provider offices, 1 patient restroom, 1 staff restroom, 2 MA/nursing station, 1 laboratory, 1 kitchen/meeting room, and 1 storage room. The building has 29 patient/visitor and 25 staff-dedicated parking spaces.

Size in square feet:
4,353 SF

Business Operation

Expansion Potential:

The practice can accommodate 1-2 more providers. The office suite was designed to house five full-time providers who see patients 4-5 days per week. Their current patient volume and appointment requests exceed their current capacity. Additionally, accepting new patients and advertising would significantly increase provider demand. In addition, the solo family physician with whom the practice shares office space is about to retire, so taking over his patients would be an opportunity as well.

Competition / Market:

Competitive Advantages: High quality of care, same-day accessibility, a solid reputation, staff longevity, and personalized service.

Reasons for selling:

Owner is preparing for retirement.

Employees:
17
Years established:
21

Other Information

Support & training:

The owner is willing to remain for a 6-12 month transition to ensure a smooth patient transition.

Financing available:

$102,500 on approved credit to a qualified physician