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Medical Recovery & Collections Company For Sale
Location California,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $1557566
Net Profit / Cash Flow $680716
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 1972
Number of Employees 10 - 19
Relocatable No
Number of Employees 10 - 19
Real Estate Leased
Training Seller will provide training
Reason for Sale Retirement
Description Niche medical revenue cycle recovery and collection agency serving hospitals in the state of California for over 41 years. Highly qualified and professional staff in place. With a legal portfolio of $7 Million and another $70 Million in credit collections inventory (within 4 years of assignment, of which $19 Million was assigned within the year) included with this sale, this business is an excellent opportunity for an existing collection company to grow into the California market by acquisition, a Healthcare system or a Medical Group needing to expand its recovery and collections, or a collection Law firm. This business has focused solely on a specialized segment of the market which has demonstrated a consistently strong need for their services. Long term clients in this niche provide a solid and stable revenue base. Services include managed care recovery, industrial insurance recovery, Medi-Cal recovery, Medi-Care recovery, self-pay recovery, and recovery from 3rd party payers.
Business Highlights:
- Recession-proof business
- Full staff of 14 full-time employees and 3 part-time employees. All collectors are trained in federal and state fair debt collection practices and training is ongoing.
- Enormous growth potential; can be operated and replicated nationwide.
- Majority of the populace is aging; therefore services for Medicare will be outsourced to handle the workload.
Outlook:
As healthcare and liability costs continue to rise, physicians and hospitals will continue to be placed in the position of providing expensive care to consumers who have fewer resources to pay for them. The lack of affordable healthcare places low- to middle-income patients at a greater risk of chronic indebtedness due to an inability to meet outstanding healthcare expenses. In times like these, medical billing and collection may play an even greater role in the life of our nation's healthcare providers striving to stay financially solvent.
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