When you're looking to partner with a business, it's important to know the ins and outs of the industry. When considering a career in business, do you look for a company where you can find long-term growth while enjoying the career perspective? How does the company's culture and vision have a direct impact with your partnership? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Richard Leaver. Richard is a seasoned professional having demonstrated expertise in all facets of outpatient therapy services management with a strong track-record of creating long-term value and ability to successfully grow in various challenging and complex market environments. He is a licensed physical therapist with an MBA from University of Michigan and Board Certification in healthcare management, earning the distinguished Fellow of American College of Healthcare Executives (FACHE) Credential. Prior to joining Alliance, Leaver worked at ATI Physical Therapy as Vice President of Operations for Washington State. 

You can learn more about Richard and Alliance at their website here - www.allianceptp.com

We will touch on such topics as:

• The leadership and management of outpatient therapy and working with the local entities and brands to be able to really support them and maintain their culture.
• Understanding the differences between PT providers within the space. 
• What are the different cultures, approaches of the business, and ways of helping the  private practice owner that would allow them to have better decisions in regards to perhaps who they want to align with, or who they want to emulate, or who they want to partner with? 
• Why does private equity get a bad reputation in the healthcare space? 
• What are the non-negotiable and negotiable components of the business that you are looking for in terms of buying the equity? 
• How do you evaluate a long-term variable of growth?

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Why should Physical Therapists or Practice-Owners start preparing their practice to sell even if they just started their business? How does the preparation help in terms of finding opportunities that might help the business to grow? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Bryan Williams. Dr. Bryan is the founder of Concierge Physical Therapists, a forward thinking health care practice. Concierge Physical Therapists offers one on one services in clients’ homes, and at private clubs offering fitness and wellness services. 

Check the website here: https://www.conciergephysicaltherapists.com/ 

We will touch on such topics as:

• You need to put a system and process in place for your business, even before you start seeing your first patient in your client. 
• Do not brand your therapy clinic with your own personal name, you are sending the wrong message to your patients, therapist, and to your future buyer. 
• When you build a system and a process in your business, it will be easy for you to move away from the practice in terms of seeing every client, and be able to start managing and working ON the business. 
• When a potential buyer looks at the practice valuation with your production of treating the patients the value will be different once you sell it to them. 
• Building your niche in the beginning is very important in order to find the right client for your business.

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How can you use your business valuation information to make a decision when you are ready to sell your practice? Why is it so important to get involved in understanding these factors and helping you make smart decisions about whether to sell now or later, and what type of exit strategy might work best for you and your needs?  

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about how the profit of your physical therapy practice or your healthcare business will affect your business value, your asking price, and the types of offers that you could get or may expect to get when you decide to sell some or all of your practice.

In this episode, he will touch on such topics as:

• What are the main factors that affect the price of a medical practice? 
• How do you figure out how much your business practice is worth?  
• Seller's discretionary earnings helps you to understand the real value of the business, and it gives you a better idea of how much money you can expect to make after tax, depreciation and other expenses.
• If you sell your physical therapy practice, the buyer is going to want to see what you've been spending on your business. They'll go through all of your business books, and they'll be looking for your business expenses, taxes, etc. 
• You'll want to talk with your accountant about how best to legally classify your business expenses so that both parties can minimize their tax burden when selling or buying a business.
• Discretionary earnings is the common denominator.
• Seller's discretionary earnings, or SDE, is a term that refers to the money you pay yourself every year from your practice.

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As  a private practice owner, you might have some ideas of what your business is worth, but how do you make sure you’re getting the fair price for it? What do you think about when considering your practice's value? How do these perceptions affect the buyer’s willingness to pay for the offer rendered during an evaluation period? 

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the important financial factors that come into play when determining the value of a physical therapy practice, and how to determine if it's worth selling. Dave also talks about how to assess the value of a physical therapy clinic from evaluating its assets and liabilities to considering its current state of affairs, so that when you're ready to sell, you'll know exactly what to ask for in return. 

In this episode, he will touch on such topics as:

• If you're looking to sell your practice, there's going to be different buyers and some of the buyers are going to have different levels of risk and different resources behind them and they're going to value practices differently.
• Having additional factors will be what swings the value of your practice. 
• Physical therapy practices across the country will typically sell for a multiple of EBITDA, anywhere from three times to four or five times.
• Physical therapy practices are not measured one-to-one with revenue.  
• If you believe your private practice has banked a lot of growth because of hiring and delegation and automation and systems you put into place, and you believe it's going to be 2 million in revenue in the next 12 months, and you could be paid on that.  
• As practice owners, the offers are whatever the market is telling you it's worth. 
• You might increase your potential sale by having additional factors that are changing positively of this transaction of your physical therapy practice.

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Are you thinking about selling your physical therapy practice and might be wondering what the broker's commission is and how it affects the sale of your business? How will you know that a broker is working in your best interest when they can't forego their commission?

This week's The Dave Kittle Show episode, Dave Kittle goes solo and talks about the different fees associated with the broker’s commission and how much a usual broker can charge for their service, as well as the commission factor that would help you increase your potential sale.

In this episode, he will touch on such topics as:

• The commission that the broker charges is tied directly into the selling price of the practice.
• When selling your physical therapy practice, brokers typically get paid a commission in two ways: retainer fee and/or valuation fee.
• The broker is supposed to represent the best interest of their client (you) but also work their hardest to get the best price for their client who is willing to purchase your practice (buyer).
• Some brokers and advisors in different companies and firms have additional fees. This could be a brokerage fee, a listing fee, an advertising fee, and a marketing fee, if they're putting it on their website.
• Brokers can help drive the price up on the valuation and the offer of your practice in a bidding war, especially if you hire an expert.
• Expert brokers might get you to the purchase price higher than you would've gotten with other brokers or advisors potentially.
• The double layman scale is a sliding scale, meaning the percentage of commission drops the higher your sale price rises.

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Healthcare is more than just about medical care, it’s about the patients and their experiences. How could you make the patient’s experience of going to the doctor less stressful, or even pleasant? How will you keep your practice more efficient, while still keeping your patients' best interests at heart? 

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Rafi Salazar. Rafael Salazar II, MHS, OTR/L is an occupational therapist and private practice owner of ProActive Rehabilitation & Wellness in Augusta, GA. And, Rafi is also the principal owner of Rehab U Practice Solutions https://rehabupracticesolutions.com/. 

Check out his podcast, where he’s the host of The Better Outcomes Show at www.betteroutcomes.show 

New book launch:Better outcomes: A Guide To Humanizing Healthcare  

We will touch on such topics as:

• When you're a PT or OT, you learn to love the people you help. You learn that every person you come into contact with has a story and needs care in their own way, so you can be the best for them.
• How can you develop a framework that allows clinicians the ability to make that relationship and build that relationship with a prospective patient or client.
• The patient or client needs to understand from the beginning that what they're getting is something of value. It's not just about selling, but about communicating the value that you provide.
• The physical environment of the clinic is important for patients, who may be uncomfortable in new surroundings and unfamiliar with their surroundings. A comfortable environment helps patients feel more relaxed and at ease.
• Delivering a standard of care that leaves the patient feeling, known, heard, listened to, and valued, which is super important for the engagement and retention side of things.
• Patient satisfaction is a huge factor in whether or not people will come back to your practice or recommend you to friends and family.
• The standard of care you deliver is just as important to the patients' health as their treatment.
• It's important to know how satisfied patients’ are with the care they receive in order to make sure that you're helping your clients to get the best results from their treatment.
• How will you keep your practice more efficient to make sure your patients are satisfied with their care?    

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As a physical therapist, how will you expand your scope of services in order to help more people learn how to stay fit even if they're not able to go outside very often due to weather conditions or other factors like limited mobility? What if acquiring a business will allow you to expand your physical therapy service without having to wait for appointments or share space with other therapists?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Dr. Brett Scott. Dr. Brett Scott founded Barbell Therapy & Performance in 2017. After working as a strength coach and personal trainer for seven years throughout his college career, Dr. Scott realized something was missing in the traditional physical therapy model during his clinical rotations. While working in the traditional physical therapy setting, he realized he didn’t have the time and resources to get his patients the best outcomes because profit and proficiency from a business standpoint surpasses patient outcomes.

Learn more about Dr. Brett in his websites https://barbelltherapyandperformance.com/ and https://arkitectfitness.com/

We will touch on such topics as:

• You can help your patients by coaching them in fitness activities they can do at home on their own time. This will allow them to maintain their health independently while also increasing their independence in other areas of life.
• The gap on how physical therapists are becoming more and more like personal trainers, but with a license to use specific modalities.
• Physical therapists who work for an insurance company will have access to more resources than those working in private practice; however, they may have less freedom when it comes to setting prices or scheduling appointments.
• Gym-based physical therapists may offer more options for treatment because they have access to equipment that is not available in most private practices.
• If you want to acquire a business, it's important to have the same training model and the same training beliefs with the owner so you can fully scale the business on your own.
• Finding a good steward to continue the legacy and the reputation that the founder, that the original owner built is a huge consideration for, for someone that's gonna sell something.

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In order to make the best deals, how do you communicate clearly and effectively with your buyer to close the deal? How can you make sure that your buyer feels heard and respected, even if they have different needs than you do? And how can you resolve conflicts when they crop up?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Todd Russell, DDS and this time, with Chris Vandiford. Dr. D. Todd, is the founder and CEO of Empire Dental Arts, a successful dental partnership organization based in Northeast Ohio. He is an award-winning dentist and executive leader with 30+ years’ experience driving best practices across strategic practice operations and patient care. He is adept at identifying and executing disciplined operational and business strategies across dental facilities management, clinician teams, patient care, and organizational visioning. Chris is a 20+ year dental transition consultant, bringing buyers and his experience to your dental transition. Chris completes successful dental transitions by aligning the seller with the right buyer every time. Chris Vandiford will also guide the attorneys, CPA’s and bankers to cross the dental transition finish line together.

We will touch on such topics as:

• Have a good understanding of what’s driving the transaction, because many times people believe that transitioning is like buying a used car or house.
• Getting to know the seller, what kind of individual he is, what his personal issues are, what his struggles are, gets you a better path forward on who the right buyer is.
• Being ethical and knowing the career path makes the buyer want to buy from the seller.
• The first appointment and the first meeting is so important. It sets the tone for the relationship of the buyer and the seller.
• How to balance the communication style with the buyer.
• Your job as a seller is to become the best ally and give all the resources to the buyer.
• You can get along with the buyer-seller relationship because of transparency.
• Have the best team and be that's okay to pay for it. You don't wanna get overcharged by an hourly rate for someone to move a comma or a semicolon, but you're paying someone for their experience and their ability.
• The market determines the most part of the valuation.

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If you are a physical therapy practice owner, who is on the edge or on the fence about selling or transitioning your business, what are your reservations about selling your practice and what are the market drivers you will outlook in order to maximize the profit potential? What are the factors that will allow you to sell your practice as easily as possible and in terms of price and valuation?

This week's The Dave Kittle Show episode, Dave Kittle will be joined again by Michael Piekutoski. Michael Piekutoski is a Physical Therapist and the Founder, Advisor/Consultant at PT Practice Sales & Consulting. He’s been in the PT world for decades and, among many roles, was the VP of Operations for a national PT company. And, now, he helps therapy practice owners with the start of their exit planning and succession planning all the way through finding buyers, conducting negotiations, and getting owners top dollar for their practice. Mike has completed over 50 PT transactions for over $115 Million in value.

You can learn more about Mike and his firm’s services at physicaltherapybrokers.com or you can email him at [email protected].

We will touch on such topics as:

• How to embrace this economic instability in terms of buying and selling your private business practice.
• When the economy's not doing well, it will have an impact on deal structures, deal making, whether or not it seeps into our industry.
• There are two drivers of deal making: The rising interest rates and recession risk.
• Understanding how to address labor issues with an on-demand workforce can be difficult.
• It is important for practice owners to focus on the environment more than anything else. It’s really important to focus on managing the margins, keeping the people happy, keeping them engaged, and doing whatever they can to make sure that their reimbursement remains steady, or if there are ways to improve.
• The physical therapy market has been booming and this is great news for any active investor. If you are planning to get out on the market and sell your own business then this is also very good news to you.
• Remember that the buyer is competitive with their valuations, their multiples and their deal terms to successfully navigate through a process and close a deal.
• Physical therapy is not going anywhere. It may evolve depending on how the service is delivered due to the technology, but the need for qualified clinicians is growing. 

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Are you a physical therapist who is ready to sell your business practice? But how would you sell your practice in a way that doesn't rely and depend on you? How are you going to transition your practice in a way that once you sell it the buyer won’t need your services to treat the patients?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Stephen Dunn. Stephen has been a physical Therapist since 1998, and a co-owner of Core Therapy and Pilates down in Austin, Texas.

We will touch on such topics as:

• How to keep your business practice afloat in a recession and during the pandemic to be able to sell it at a higher price.
• Rather than treating your business as a patient, you should be looking for ways to shift your priorities to treat the business.
• As a physical therapy practice owner, you have to find ways to reach and treat more patients with the transition of your physical therapists. That's why you need to expand your marketing strategies if you want to stay afloat in this industry.
• If you want to sell your business and you want to walk away, then you need to transition the business before you sell it in order to maximize the value and the price without depending on you.
• You have to start systemizing and getting the work in place before you sell it to the buyer.
• Business books are one of the best resources to turn to when you have questions about your future, career, and business.
• Real estate was one of the most secure investments especially during the recession.
• Self-storage vs residential real estate

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or

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