Compass Medical Appraisals provide certified business appraisals exclusively for Hospitals, Physicians, Medical Groups, and Clinical Organizations nationwide. Our certified healthcare appraisers provide independent valuation guidance for assessing fair market value for medical practices, surgery centers, and health businesses nationwide.
Appraisal reports are used for various purposes including:
- Sale of a medical practice or services Practice performance evaluation and analysis
- Partner buy-in or buy-out
- Medical practice merger or consolidation
- Practice performance evaluation and analysis
- Practice financing
- Divorce, estate, tax, or financial planning
Assessing the value of a medical practice entails extensive analysis of the geographic health services market, business, economic, and market conditions. We undertake a detailed examination of financials and clinical data in the context of numerous factors including medical specialty, physician supply and demand, payor mix, regulatory environment and regional dynamics. Our methods and approaches adhere to accepted standards of healthcare practice appraisal and utilize direct market data to reach justifiable conclusions. These are documented in a comprehensive report which is tailored to meet the need of the specific engagement.
A business appraisal is a professional analysis of the worth of a business or business interest based on the consideration of all of the relevant facts. Each valuation is as unique as the business being appraised. The appraisal process involves extensive research and analysis tailored to your business and the purpose of your valuation. The complexity of business today makes it important for a business owner to know the fair market value of their business at different stages in its life. Valuations play a critical part in all strategic transactions. The following are some of the reasons a business owner may need to know the value of their business or business interest:
- Merger, acquisition, or divestiture of an ownership interest
- Buying or a practice
- Creating or revising a buy/sell agreement
- Settling a dissolution of marriage
- Settling shareholder or partnership disputes
- Determining loan value
Cost of a typical appraisal
The cost of an appraisal depends on the client’s requirements, the scope of work for the assignment, and the use of the appraisal. Factors that must be considered include:
- the type or types of appraisals to be accomplished;
- the turnaround time required for the assignment;
- the quantity of items to be appraised;
- the geographic location of the subject equipment;
- the number of locations to be visited;
- the size of the facility or facilities involved;
- the necessity of a physical inspection of the subject assets;
- the commonality or proprietary nature of the assets under consideration;
- the availability of corporate records as they pertain to the subject assets;
Only after analyzing all pertinent factors will Compass Medical Appraisals quote a fee or fee range for our services.
As an appraisal is an expense to the end-user, we steadfastly believe in providing value to our customers. One way we accomplish this objective is by thoroughly managing the appraisal process. Typically, the “in the field” portion of the appraisal process is the most costly component of a standard assignment, due primarily to travel-related expenses. We also provide and recommend a desktop valuation when applicable.
Estimated time to complete a typical appraisal
The turnaround time to complete an appraisal is dependent on many of the same factors used to determine the fee for our services. Meeting all of the requirements of an appraisal, including the predetermined time frame for completion is provided through our quote prior to acceptance. We will not commit to an appraisal assignment unless we can meet our customers deadline.
Should you question if you need an appraisal
Contact us in the manner that is most convenient for you. We genuinely welcome the opportunity to discuss your specific appraisal requirements. At Compass Medical Appraisals, we are in the business of providing our clients with timely and relevant information, not selling you a service that you don’t need.
Medical appraisal can be used for a number of purposes, including:
- To reflect on an individual’s practice and performance with their appraiser
- To help doctors plan their professional development
- To identify learning needs
- To ensure doctors are working in line with the organizational priorities
- To demonstrate that doctors remain up to date and fit to practice
The appraisal process is an important source for agreeing and monitoring personal development objectives.
While it interacts with the job planning process, the two should be kept separate in order to mitigate any conflicts of interest.