The Dave Kittle Show

As a therapist who wants to retire, what are the misconceptions you need to avoid when preparing your therapy practice for sale, especially when you underestimate the value of the business, and have unrealistic expectations about the process? What's the one thing that you can do to be sure of a successful outcome in order to maximize the value of your business so you can transition to your next phase with a plan?

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Jason Hiebert. Jason Hiebert began in M&A when he first sold his software business in 2000. He has founded Genki Capital and Mihama Acquisitions closing on transactions in almost every region and state including 11 physical therapy transactions during COVID-19.

Jason Hiebert and Mihama Acquisitions have helped 225+ therapy owners sell their practices. With healthcare clinics sold across the country, we are one of the leading intermediaries in the country based on transaction count.

We will touch on such topics as:

• Running your business the best way you know how — even if that might mean “against the grain” of what everyone else is doing — is one of the right ways of running things.
• There is a deal structure where you do not have to incur all the risk when opening a new clinic.
• If you have yet to unlock your net worth, it's mostly because you've been waiting too long.
• There’s no need for you to say the “price”, just say you are testing the water and let the market dictate the value of your business.
• It is very important to understand the market value of the business – start to test the market of the business, and work with someone who has experience creating and managing profitable businesses.
• Go to the market, get all the buyers that are bidding on your business - this valuation helps to understand more about the company that they are planning to buy, before making an offer to buy. 

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Connect with Jason:

Website: http://www.mihamainc.com

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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One of the most common queries in the finance industry is "What is the difference between an Investment Banker vs Broker vs Advisor?” How does an investment banker assist you in managing the transaction, relieving some of the burden on you and your management team, and increasing the chances of a successful outcome?

This week's The Dave Kittle Show episode, Dave Kittle welcomes back Jason Hiebert. Jason Hiebert began in M&A when he first sold his software business in 2000. He has founded Genki Capital and Mihama Acquisitions closing on transactions in almost every region and state including 11 physical therapy transactions during COVID-19.

As one of the leading middle market healthcare investment bankers in the country, Mihama Acquisitions brings unique expertise and industry connections to your transaction. Their track record spans across the country with transactions either completed or currently in process in over forty states. Mihama Acquisitions provides a full complement of advisory and investment services to well complement the desired needs of our clients. With the reimbursement, regulatory, and technological environment in the healthcare vertical perpetually evolving, Jason and his senior bankers are committed to combining our global resources and specialized expertise to help you navigate this dynamic sector.

Jason Hiebert and Mihama Acquisitions have helped 225+ therapy owners sell their practices. With healthcare clinics sold across the country, we are one of the leading intermediaries in the country based on transaction count.

They have completed practice sales in almost every state in the country, even with each state having different regulations for corporate practice of medicine and tax procedures. As such, they bring further expertise and experience to help navigate your transaction.

We will touch on such topics as:

• Find someone who can test your market and prepare marketing materials for an auction process.
• The buyer is looking for the best opportunity: Price, Deal Structure, Philosophy and Strategy.
• Present the opportunity with data that models the buyers vision for the business.
• Buyers don't always know what they are looking for. Sometimes they are just browsing around and have a general idea of what they want in a product or service. To help buyers overcome this challenge, you need to help them understand the benefits of your business. 

P.S. Subscribe, rate, and review Here

Connect with Jason:

Website: http://www.mihamainc.com

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

During the pandemic, most practice owners went through challenges and even thought of temporary closures because they reflect income losses, but after a year, thankfully, they got through it. Generating revenue is the biggest post-pandemic challenge that a practice owner faces today. What are the challenges and opportunities that we see in the mergers and acquisitions space post-pandemic? What’s your personal timeline for owning your business? Or are you having business problems that you believe only a buyer can solve?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Jason Hiebert. Jason Hiebert began in M&A when he first sold his software business in 2000. He has founded Genki Capital and Mihama Acquisitions closing on transactions in almost every region and state including 11 physical therapy transactions during COVID-19.

As one of the leading middle market healthcare investment bankers in the country, Mihama Acquisitions brings unique expertise and industry connections to your transaction. Their track record spans across the country with transactions either completed or currently in process in over forty states. Mihama Acquisitions provides a full complement of advisory and investment services to well complement the desired needs of our clients. With the reimbursement, regulatory, and technological environment in the healthcare vertical perpetually evolving, Jason and his senior bankers are committed to combining our global resources and specialized expertise to help you navigate this dynamic sector.

Jason Hiebert and Mihama Acquisitions have helped 225+ therapy owners sell their practices. With healthcare clinics sold across the country, we are one of the leading intermediaries in the country based on transaction count.

They have completed practice sales in almost every state in the country, even with each state having different regulations for corporate practice of medicine and tax procedures. As such, they bring further expertise and experience to help navigate your transaction.

We will touch on such topics as:

• Physical therapy practices, at the moment, are increasing prices and buyers are trying to consolidate in the marketplace. Nowadays, there aren’t a ton of sellers, so prices are increasing and deal structures are more favorable for sellers.
• During the pandemic, interest rates went to zero, cash was cheap, and buyers had easy access to cash, so they saw it as an opportunity to acquire.
• After the pandemic, the interest rates are constantly increasing, which is making it more expensive for buyers.
• All cycles come to an end, but the best time to sell your business is when the market is good.
• When everyone starts selling and there’s a supply and demand for owning stocks, the pricing goes up.
• You have to realize as a seller that you are not selling the business tomorrow. You will not exit the business the day after you sell it.
• What makes physical therapy valuable is the referral sources, employees, and the relationships in the community.
• The longer you take to exit, the less risk for the buyer, which makes them pay you more.
• You can’t exactly align your business with whoever you think is going to buy it because you don't know what their business is.
• Test the market and find out what the best fitter will provide you with, and that’s the true market value of your business.  

P.S. Subscribe, rate, and review Here 

Connect with Jason:

Website: http://www.mihamainc.com 

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Selling your practice can be financially profitable and can offer you the satisfaction of knowing that your legacy will live on, but how will you sell your physical therapy practice for max value? And what would be a great position for your physical therapy practice to earn above market value? 

This week's Dave Kittle Show episode, Dave Kittle will talk about the Four Missing Links to selling your physical therapy practice for an above-market value price. These tips will help you identify a great position for your practice to be considered for selling at max value in the market and close a deal for potential buyers, ultimately improving cash flow. 

He will touch on such topics as:

• Buyers care about decreasing or lowering risks. If you, as a seller, can demonstrate less risk, the buyer will likely pay you the maximum dollar amount or whatever value you believe it is worth.
• You don’t necessarily control the value of your practice, but you can control the financial levers of your business.
• The first missing link is optimizing your cash flow. If you are improving your cash flow, there will be more dollars coming into your bank account sooner rather than later.
• The second missing link is getting closer to your actual customer, the people who you want to serve rather than referral resources.
• The third missing link is a flexible transition plan, which stabilizes the morale of your team’s culture and the uncertainty of a new owner.
• The fourth missing link is your staff. Buyers are investing in your current staff and their performance as well as your practice's recent financial performance. 

P.S. Subscribe, rate, and review Here 

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Are you not good at working for other people and thinking of starting a new business or just acquiring a physical therapy practice? We know it is important to create a stellar brand that people will remember, but what are the pros and cons of rebranding? How will you get the deal done? And what were the challenges once you took over the space and rebranded?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Mark Shulman. Dr. Mark Shulman, DPT, FAAOMPT, COMT, CSCS has worked in Physical Therapy since 2005 when he started as a Physical Therapy Aide in an Outpatient clinic. Since then he has continued to progress his practice and gain experiences in multiple treatment settings. Dr. Shulman started “The Physical Therapy Effect” to continue his goal of providing quality one-on-one care to the patients he works with. Mark studied Physical Therapy at Northeastern University in Boston Massachusetts where he graduated Magna Cum laude with a Doctorate of Physical Therapy in 2010. While completing his degree in Physical Therapy, Dr. Shulman also earned his Certified Strength and Conditioning Specialist Credentials from the NSCA. He has taken multiple advanced training courses to become a Certified Orthopaedic Manipulative Therapist through North American Institute of Orthopedic Manual Therapy. Dr. Shulman is a Fellow of the American Academy of Orthopaedic Manual Physical Therapy. He is also currently a Credentialed Clinical Instructor through the American Physical Therapy Association (APTA). Mark maintains an active membership in the American Physical Therapy Association, American Academy of Orthopaedic Manual Physical Therapists and National Strength and Conditioning Association. Within the San Diego community Mark has set up multiple injury prevention clinics for high schools around the county. Mark is the Physical Therapist for Cali Coast Elite All Star Cheer Gym as well as the head of their sports medicine team. He provides volunteer Physical Therapy services to events such as Bike MS: Bay to Bay, Padres Pedal and SDBC Grande Prix.

We will touch on such topics as:

• The business will start to go downhill when the owner is no longer part of the business.
• Take the risk and jump on your own. You’ll see where it takes you.
• When you buy a real estate property in the five or four program, it needs to be owner-occupied and can only be used for certain things.
• Have a little more flexibility as you continue to grow.
• The best compliment is when your customer sends their relatives and friends to your clinic because they know they can trust your services.
• Focus on your community and the buildings in your area.
• The local people around your business are the ones supporting you when your business is in the downtown area.
• Getting an idea from the right people in your life is important.
• Having a CPA that you can trust and an attorney on your side is always a good idea when dealing with real estate.
• If something fails, there will always be an opportunity that will open for you.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Can owners who are selling their companies get top dollar exit offers just by focusing on the client experience? Can you switch your mindset from focusing on the bottom line and start serving clients in a way that makes them actually want to pay you — even if it means you'll let them work with the competition?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Jerry Durham. Jerry is a physical therapist, previous practice owner, podcast host, and consultant/advisor to practice owners who are serious about growing their businesses, adding more profits, while working less.

We will touch on such topics as:

• It is extremely important to understand your customers' journey and transition between stages to ensure they are getting the best help.
• You need to understand your patient’s journey and build a “how” in their experience. This system helps you manage the touchpoint to someone who is willing to be part of your business.
• Your team should be aware of how to deliver the message and the system to your patients - healthcare practice model.
• If you are not tracking your leads you are losing money in your frontdesk today. There is an opportunity in that lead. If you are not tracking, you are not checking the results of your marketing.
• Flip the conversation. Don't let insurance drive the conversation.
• If the patients ask about “insurance”, they treat your business as a commodity. 

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Reach Out To Jerry:

Website: www.ClientExperienceCompany.com

Linktree: https://linktr.ee/jerrydurhampt. 

Plus, you can search "Jerry Durham PT" on YouTube or click on this link here:

https://www.youtube.com/channel/UCPz8_pWAP2yd4T7vWrgAeJw

Last but not least - tune into Jerry’s podcast titled: “What's Best For The Patient Is Best For Business”: On Apple Itunes and on Spotify. 

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Selling your practice allows you to structure the sale of your business in a way that provides you with financial freedom but still allows you to stay involved without getting burnt out on administrative work. But what happens if your business is listed on the broker’s directory for a year or more? What is a broker’s perspective on patterns of businesses that sell quickly versus businesses that stay on a broker’s listing for more than 12 months? What can a broker do to get more potential buyers to look at a potential therapy practice?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Joseph Hertz. Joseph is the President of TransWorld Business Advisors of 5 Towns and Jamaica (Queens, NY). He’s also a business broker/advisor who helps service-based business owners (and more), including but not limited to physical therapy, occupational therapy, speech therapy, as well as other healthcare niches and areas outside of healthcare. 

We will touch on such topics as:

• If a business has been listed for a long time and hasn’t sold yet, it is either the business or the seller’s expectations are not good as well as the broker.
• The more you remove ownership from the business, the more assets you can sell and transfer to potential buyers.
• When a broker is not marketing the business correctly, not talking to the buyers, and not putting the actual strategic value that that business brings into perspective, making sure to reach out to potential buyers that would be interested in the business would be a factor for the business to stay in the directory for a long time.
• As a broker, it is your responsibility to educate and coach the seller on the realistic approach to selling the business.
• Create a list of what distinguishes you from other brokers.

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Reach Out to Joseph:

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/joseph-hertz-95494026/

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Are you a new private practice owner who wants the most value out of your practice without causing yourself tremendous stress? How do you ensure that you maximize the value of your physical therapy practice on both sides of this business transaction?

This week's Dave Kittle Show episode, Dave Kittle will talk about the 5 mistakes that he believes you should avoid when selling your physical therapy practice. These useful tips will help you make the biggest transaction in your life - the sale of your physical therapy business. Hopefully, after listening to this episode, no matter if you are a prospective Buyer or Seller, these insights can help you to sell your business at a higher price and/or for a faster transition than you would normally expect.

He will touch on such topics as:

• Not knowing the true way of measuring how valuable your practice is based on your private practice truly earning.
• If you don't know where you are going, any road will get you there. - Lewis Carroll
• You need to start thinking about your exit strategy from day one, even before you start your practice.
• The more unique and intangible assets buyers see, the more they are likely to pay you top dollar for your practice. These assets - which don't appear on the financial statements - make a practice 'special' and can be used as a strategic tool to help increase the value of your practice, whether you're selling it privately or through a broker.
• Learning some basic skills in negotiation can improve your chances of getting a good bargain or securing a better deal.
• Stop selling to any kind of buyers. Remember who you sell to will affect your employees and the reputation of your private practice.

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.

Starting a business from scratch is where most small business owners begin, taking passion and skills and combining them with real-world applications, but if you acquire another therapy practice, how far can you change the business strategy to keep the loyalty of past clients? How can an occupational therapist, like you, acquire an outpatient physical therapy practice? When will the deal be closed? And how can you finance the purchase?

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 

We will touch on such topics as:

• Closing a deal can be the most stressful part of acquiring a practice.
• It is more fun if you get something that is already working and you are tweaking and optimizing it as opposed to starting your business from scratch.
• People don’t realize the value and difficulty of building a past patient list.
• There is a lot of value in purchasing a practice with a list of a hundred past patients who you can reach out or launch a marketing campaign.
• When you are buying a business, it is easier than getting a student loan because the bank is looking at the financials of the business, which is easier to cover with cash flow.
• At some point, all the consolidation in the market is going to hit its head. It is not sustainable because some of the organizations are growing and the only way they can grow is through acquisition.
• Most healthcare organizations these days are making decisions based on excel spreadsheets, and at some level, you kind of have to because of the scale of your organization. But the problem is, if you are making decisions based on the average, you are actually making decisions that need no one. 

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

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Are you one of those people who always looks at market websites to acquire businesses? Where can you increase efficiency? Where can you add value to the structure that they already have? Who are the appropriate people to consider buying an existing physical therapy practice or some other business? And what is the best option for you to succeed?

This week's The Dave Kittle Show episode, Dave Kittle will be joined by Anthony Maritato. Anthony (Tony) Maritato is a physical therapist, private practice owner, and online business entrepreneur. He owns Total Therapy Solutions in Ohio with 2 outpatient physical therapy clinic locations. He’s been a licensed PT since 2006 and a practice owner since 2002. Tony is also the founder of several successfully growing projects and businesses including not limited to:

Learn Medicare Billing website: https://www.learnmedicarebilling.com

Learn Medicare Billing YouTube channel: https://www.youtube.com/c/MedicareBilling

“Medicare Home Therapy” website directory: https://www.medicarehometherapy.com

Connect with Tony Maritato on Facebook at: https://www.facebook.com/anthony.maritato.73

We will touch on such topics as:

• Researching market values gives you a chance to compare where your practice is relative to other practices out there.
• Take a look at what's going on in the marketplace in your area to know if you are achieving or moving forward towards your goal.
• Peek behind the curtain for existing practices in different business models.
• Go to different market sites not to see what other physical therapists are doing, but rather, to see what other businesses are out there that you can either acquire and implement or acquire and leverage.
• For a therapist who has never owned a business before, acquiring an existing business is not the right way to go, even if it is a successful therapy clinic, because they haven’t developed the skills to run a business.
• Either you create a business from scratch to develop your skills, make your mistakes, and then you will be better equipped to acquire a business.
• It is beneficial to get inside your brain to see what you can think of and what stands out as being of importance to you. 

P.S. Subscribe, rate, and review Here

Connect with him on:

Email: [email protected]

Instagram: @davekittle

LinkedIn: https://www.linkedin.com/in/davekittle/

or

Call (646)-781-8884

Hosted on Acast. See acast.com/privacy for more information.