Re: Internal Medicine Practice for sale in the Flatiron section of New York City

[Guest guest]

Soma,Care to share why you are trying to sell the practice?

Hope you are doing well.Sharon

Sharon McCoy MDRenaissance Family Medicine10 McClintock Court; Irvine, CA  92617PH: (949)387-5504   Fax: (949)281-2197  Toll free phone/fax:  www.SharonMD.com

 

That's right everyone, I'm selling my medical practice. If you (or anyone you know) may be interested, please e-mail me privately.

 

Internal Medicine Practice for Sale - $100000 (Flatiron)

Date: 2011-11-30, 1:07PM ESTReply to: your anonymous craigslist address will appear here

 

Due to relocation of principal physician, a 5+ year-old profitable Internal Medicine practice in the popular Flatiron/midtown area in Manhattan is for sale- Soma MandalKey characteristics of the practice

• Attractive patient baseo 2800+ patient base; 90% retention rate between years 2010 and 2011; growth primarily based on patient referralso Patients from attractive companies such as Google (400+) and Credit Suisse

o Panel composed of 70% PPO/POS, 20% HMO, 5% Medicare and 5% self pay• Superlative reputation of practice among patients• Significant opportunity to increase revenues at current location, e.g., o Weekday evenings and weekends are under-served in the area

o Aesthetics and travel medicineo Potential to sublet space when it is not being used; realty company is friendly to doctors• Established relationships with excellent

professionalso Specialists for cross-referralso Cross-coverage with physicians and nurse practitionerso Great employee satisfaction • Modern, efficient practice facility and operationso Electronic medical records for all patient records. All services from appointment to test results delivery are automated

o Two exam rooms, a side office, secretarial area and waiting area (fully furnished)o State-of-the-art exam tables, weight machines, electrocardiogram machine• Consulting services available from current physician-owner to help buyer (re)establish private practice

Asking price $100,000 (minimum).

[Guest guest]

OMG! Why? are you starting a family? Moving to India?

???

Pamela

>

> That's right everyone, I'm selling my medical practice. If you (or anyone you

know) may be interested, please e-mail me privately.

>  

> Internal Medicine Practice for Sale - $100000 (Flatiron)

> ________________________________

>

> Date: 2011-11-30, 1:07PM EST

> Reply to: your anonymous craigslist address will appear here

> ________________________________

>

>

>  

> Due to relocation of principal physician, a 5+ year-old profitable Internal

Medicine practice in the popular Flatiron/midtown area in Manhattan is for sale-

Soma Mandal

>

> Key characteristics of the practice

> • Attractive patient base

> o 2800+ patient base; 90% retention rate between years 2010 and 2011; growth

primarily based on patient referrals

> o Patients from attractive companies such as Google (400+) and Credit Suisse

> o Panel composed of 70% PPO/POS, 20% HMO, 5% Medicare and 5% self pay

> • Superlative reputation of practice among patients

>

> • Significant opportunity to increase revenues at current location, e.g.,

> o Weekday evenings and weekends are under-served in the area

> o Aesthetics and travel medicine

> o Potential to sublet space when it is not being used; realty company is

friendly to doctors

> • Established relationships with excellent professionals

> o Specialists for cross-referrals

> o Cross-coverage with physicians and nurse practitioners

> o Great employee satisfaction

> • Modern, efficient practice facility and operations

> o Electronic medical records for all patient records. All services from

appointment to test results delivery are automated

> o Two exam rooms, a side office, secretarial area and waiting area (fully

furnished)

> o State-of-the-art exam tables, weight machines, electrocardiogram machine

> • Consulting services available from current physician-owner to help buyer

(re)establish private practice

>

> Asking price $100,000 (minimum).

>

[Guest guest]

Hi Sharon,Hope you're well too.Several reasons, mostly personal, but among others, I do see a movement of hospitals buying out smaller practices, and I'm left wondering what incentive the small practitioner in a big city (like myself) would have to stay...While my experience has been enriching, I do feel that you have to put more of your financial reserve into taking care of patients, while trying to make a profit. Please feel free to share your ideas and thoughts.Soma To: Sent: Thursday, December 1, 2011 1:25 AM Subject: Re: Re: Internal Medicine Practice for sale in the Flatiron section of New York City

Soma,Care to share why you are trying to sell the practice?

Hope you are doing well.Sharon

Sharon McCoy MDRenaissance Family Medicine10 McClintock Court; Irvine, CA 92617PH: (949)387-5504 Fax: (949)281-2197 Toll free phone/fax: www.SharonMD.com

That's right everyone, I'm selling my medical practice. If you (or anyone you know) may be interested, please e-mail me privately.

Internal Medicine Practice for Sale - $100000 (Flatiron)

Date: 2011-11-30, 1:07PM ESTReply to: your anonymous craigslist address will appear here

Due to relocation of principal physician, a 5+ year-old profitable Internal Medicine practice in the popular Flatiron/midtown area in Manhattan is for sale- Soma MandalKey characteristics of the practice

• Attractive patient baseo 2800+ patient base; 90% retention rate between years 2010 and 2011; growth primarily based on patient referralso Patients from attractive companies such as Google (400+) and Credit Suisse

o Panel composed of 70% PPO/POS, 20% HMO, 5% Medicare and 5% self pay• Superlative reputation of practice among patients• Significant opportunity to increase revenues at current location, e.g., o Weekday evenings and weekends are under-served in the area

o Aesthetics and travel medicineo Potential to sublet space when it is not being used; realty company is friendly to doctors• Established relationships with excellent

professionalso Specialists for cross-referralso Cross-coverage with physicians and nurse practitionerso Great employee satisfaction • Modern, efficient practice facility and operationso Electronic medical records for all patient records. All services from appointment to test results delivery are automated

o Two exam rooms, a side office, secretarial area and waiting area (fully furnished)o State-of-the-art exam tables, weight machines, electrocardiogram machine• Consulting services available from current physician-owner to help buyer (re)establish private practice

Asking price $100,000 (minimum).

[Guest guest]

I agree about the difficulty in competing with the larger groups. I actually

talked to one of the larger multispecialty groups in my area to see if it would

be worth the move after I saw one of their docs and my personal EOB showed they

get $30 more for physical than I do, yet I spend at least 30 minutes more with

the patient. (sorry for the run-on sentence!)However, when they ran the numbers

based on my payor mix and their overhead, it was about equal income expected.

Therefore I did not feel it was worth giving up my autonomy. Grant it, I do

enjoy the practice management side of things and don't mind that part. Plus

they had a ridiculous noncompete clause that would make me commute over 45

minutes if it did not work out.

But it is challenging to keep our little shingles up! I shop at Ebay, spend a

lot of time price comparison shopping for supplies/vaccines, etc. Then when you

have several patients lose their jobs/insurance, you don't want to turn them

away but now several owe me over $500-1000 but how do you say I can't take care

of your high blood pressure if you can't pay me??

Good luck Soma with your decision- keep us posted!

Margaret Coughlan

PS I wish there was a way we could join together for negotiating power for those

of us still contracted with insurance companies!! THat part is not fair!!!!

Re: Re: Internal Medicine Practice for sale in

the Flatiron section of New York City

 

Soma,

Care to share why you are trying to sell the practice?

Hope you are doing well.

Sharon

Sharon McCoy MD

Renaissance Family Medicine

10 McClintock Court; Irvine, CA  92617

PH: (949)387-5504   Fax: (949)281-2197  Toll free phone/fax: 

www.SharonMD.com

On Wed, Nov 30, 2011 at 10:10 AM, Soma Mandal < somamandal2000@... >

wrote:

 

That's right everyone, I'm selling my medical practice. If you (or anyone you

know) may be interested, please e-mail me privately.

  Internal Medicine Practice for Sale - $100000 (Flatiron)

Date: 2011-11-30, 1:07PM EST

Reply to: your anonymous craigslist address will appear here

 

Due to relocation of principal physician, a 5+ year-old profitable Internal

Medicine practice in the popular Flatiron/midtown area in Manhattan is for sale-

Soma Mandal

Key characteristics of the practice

• Attractive patient base

o 2800+ patient base; 90% retention rate between years 2010 and 2011; growth

primarily based on patient referrals

o Patients from attractive companies such as Google (400+) and Credit Suisse

o Panel composed of 70% PPO/POS, 20% HMO, 5% Medicare and 5% self pay

• Superlative reputation of practice among patients

• Significant opportunity to increase revenues at current location, e.g.,

o Weekday evenings and weekends are under-served in the area

o Aesthetics and travel medicine

o Potential to sublet space when it is not being used; realty company is

friendly to doctors

• Established relationships with excellent professionals

o Specialists for cross-referrals

o Cross-coverage with physicians and nurse practitioners

o Great employee satisfaction

• Modern, efficient practice facility and operations

o Electronic medical records for all patient records. All services from

appointment to test results delivery are automated

o Two exam rooms, a side office, secretarial area and waiting area (fully

furnished)

o State-of-the-art exam tables, weight machines, electrocardiogram machine

• Consulting services available from current physician-owner to help buyer

(re)establish private practice

Asking price $100,000 (minimum).