A pelvic floor specialist and her colleagues partnered with an ownership group to launch a rehab clinic specializing in women’s health and pelvic floor related treatment. Integra was contacted to help with this start-up and to manage the clinic once it was operational.
Integra worked with ownership and the lead clinician to project various financial outcomes which were dependent on varying new patient referral volumes as well as the fee schedules for their treatment protocols. After the ranges of financial outcomes were projected, Integra provided a first-year cash flow forecast illustrating the expected collections, expenses and timing of same for the first year of operation. The owners had no experience in running a rehabilitation clinic and relied on Integra to “turn-key” their clinic’s launch.
Integra Rehab Solutions advised and guided the ownership and clinical staff through the myriad steps and decisions necessary to the successful launch of a new clinic. Following the steps outlined in its “new clinic” GANTT chart, Integra performed the following tasks on schedule and within the agreed to budget:
Helped negotiate the lease for the new location
Worked with the general contractor to properly build out the desired floor plan
Compiled an equipment list and secured a lease for same; oversaw its set-up
Coordinated the necessary I.T. hardware leasing and software and licensing
Credentialed the practice and its clinical staff
Secured proper Professional Liability insurance for the staff and General Liability insurance for the business
Trained the clinical staff on the new EMR platform and protocols for scheduling patients productively
At opening, Integra staff were present to make any last-minute adjustments
Integra performed the billing and collections services as well as all management responsibilities (e.g. operational and financial reporting, treasury and payroll functions) once the clinic was operational. This clinic consistently reported pre-tax earnings of >20% on rising revenues throughout its first year of operation.
Buy-out for Lead Clinician
After the clinic had been successfully operating for a year, Integra was approached by both the then owners and the Lead Clinician with the prospect of facilitating a sale of the clinic to the Lead Clinician. Both parties secured outside legal counsel and Integra was asked to help the Lead Clinician secure both a loan and a line of credit to purchase the clinic and provide it with sufficient working capital to aid a smooth transition of ownership and operations.
Integra worked with the bankers to provide historical financials as well as defensible three (3) year forecasts. Integra worked diligently with the bank’s valuation firm and assisted them with their valuation process and worked with the bankers to assess what size loans could be offered to the Lead Clinician and with what terms.
The sale/purchase was successfully executed and the Lead Clinician is now the proud owner of her own thriving rehab clinic. With Integra’s help she could obtain a healthy working capital loan and line of credit and was able to pay the seller his asking price. Integra continues to provide both billing and collection services as well as management services to this clinic.
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