SOLD Primary Care Practice - Los Angeles California
SOLD [Read the SELLER TESTIMONIAL] General medicine practice located in diverse multi-cultural city of Los Angeles providing much needed medical services to the local underserved population. Collects $560,000 annually with robust net income of $350,000. Practice is owned by family practitioner for over 25 years and is situated in a medical building on the corner of a major thoroughfare next to a regional hospital with convenient freeway access. Emphasis has been on primary care medicine for children through seniors providing exams, diagnosis, treatments, and minor procedures including; EKG, urinalysis, glycohemoglobin a1c, pelvic exams and paps, hearing evaluation, and prenatal care. Seller spends majority of time in the outpatient setting and admits and sees patients at 2 local hospitals and 1 nursing home. Practice revenues come primarily from managed care contracts on fixed monthly capitations with roughly 1,500 patients in panels, along with a good number of Medicare patients and some MediCal and PPO. Collections have increased over the last year a result of the seller contracting and taking on additional HMO patients. Up to 100% medical practice financing is available.