This is a private company that provides physical, occupational, speech therapy and social services to home health agencies for the home bound patient. This provides a distinct advantage to both the therapists and the home health agencies; for the therapists, the company not only arranges for patient visits close to their locations, but also takes away the administrative burdens. In other words, they can focus on what they love most - helping patients. For the home health agencies, they are comforted in the knowledge that the therapists working with their patients have all been carefully vetted by the company.
This company operates in a 725 s.f. office. The monthly rent is $1,300 ($15,600 annually). The lease includes insurance, maintenance and taxes. The current lease expires on January 31, 2022 and there is an option to renew.
There are several practical avenues for potential growth. First, obviously, acquire additional agency contracts by leveraging the company's excellent reputation. The company could also maximize growth with current agencies and add a skilled nursing branch as an additional service offering. Further growth could be accomplished with the ability to bill Medicare Part B and treat patients at home under out-patient rules. Finally, adding clinicians in other service areas would increase referrals and visits.
There are three primary competitors in the area. These companies range from 600 visits per week to 3,500 visits per week. For perspective, this company projects approximately 775 visits per week in 2021 and an annual projected increase of 250 visits per week going forward.
The owners wish to pursue other business opportunities.
Willing to train for 4 weeks @ $0 cost. The company connects physical, occupational, speech and social services therapists with home health agencies. A new owner or owners would need to have basic management and business skills. One of the current owners manages contracts, marketing and training. There are employees available to back the owner up on all of these areas. The other owner manages the QuickBooks for payroll and contract pay, expenses and accounts payable. He also has very reliable back-up.