Annual Revenue: $3,428,000
Net Cash Flow: $870,000
Industry: Health Care
Location: New York
This medical billing services business has been growing very quickly since its inception. They serve 35+ plus clients with billing and coding services to help maximize approval and collection of billed services. Their focus is serving specialty practices and high complexity labs where they leverage their proven best practices and technology to ensure results for their clients. IP includes automation technology that can perform functions like eligibility and verification at significant cost savings. The business has a complete back-office operation with 80+ FTEs that perform billing and coding. Q1 2022 revenue was $1.2M and the full year is projected at $5.2M, which is over $1.5M over the 2021 numbers. The operation has the capacity for growth without adding additional resources.
Facilities: There is an off-shore full-service back-office operation with 80+ FTEs. There is also a NY Capital Region office where a few employees go. This could be moved to fully remote as data is all cloud-based and the business is not location dependent.
Training & Support:
The sellers would like to exit the business but are willing to consult to ensure a smooth transition to new ownership.
Square Footage: 5000
There is an off-shore full-service back office operation with 80+ FTEs. There is also a NY Capital Region office that supports a few employees. This could be moved to fully remote as data is all cloud-based and the business is not location dependent.
The business is well-positioned to capitalize on the growth in complex medical billing and coding as evidenced by their growth over a short time.
Q1 2022 was $1.2M and full year 2022 revenue is projected to exceed $5,200,000 based on current booked business. Their support of the complex lab segment is not one that many billers are good at.