How Long Does It Take to Sell a Medical Practice?

asian male doctor with a clock

If you are a doctor looking to sell your medical practice, you may wonder how long the process will take. The answer to that question depends on several factors, including the size and location of your practice and the current market conditions.

In this blog post, we will discuss general timelines for selling a medical practice and tips to help you speed up the process.

How Long Does It Take to Sell a Medical Practice?

The amount of time it takes to sell a medical practice can vary widely. In general, we’ve seen more practices sell within 7-14 months.

Here’s a breakdown of the different practice types and the general time frame it could take to sell them:

Practice TypeAverage Time to Sell
Allergy & Immunology10 – 14 months
Audiology10 – 14 months
Behavioral Health10 – 14 months
Cardiology10 – 14 months
Concierge Practice Model10 – 14 months
Endocrinology10 – 14 months
Family Medicine7 – 11 months
Geriatric Medicine7 – 11 months
Gynecology10 – 14 months
Hospital Medicine10 – 14 months
Internal Medicine7 – 11 months
Nephrology10 – 14 months
Medical Spa10 – 14 months
Naturopathic Medicine10 – 14 months
Nephrology10 – 14 months
Neuropsychology10 – 14 months
Obstetrics and Gynecology10 – 14 months
Occupational Health10 – 14 months
Oncology10 – 14 months
Orthopedic Surgery10 – 14 months
Pediatric7 – 11 months
Physical Therapy10 – 14 months
Pulmonary10 – 14 months
Radiology10 – 14 months
Rheumatology10 – 14 months

What Are Some Factors That Determine How Quickly a Medical Practice Can Sell?

These are some of the factors that come into play when determining how long it will take to sell your medical practice:

Where Your Practice Is Located

If your practice is located in a desirable area with strong demand for medical services, it can help speed up the selling process.

The Size Of Your Practice

Larger practices will sell faster than smaller ones due to having multiple providers, higher revenues, larger patient base, better management and systems in place.  Solo practices often have lower revenues and too much dependence on the physician owner which increases buyer risk.

Market Conditions

The current market conditions can also have an effect on how quickly your practice will sell. If there are a lot of buyers in the market, it can help to speed up the process.

Your Patient Base And Reputation

If you have built up a strong patient base and a good reputation for your practice, this can help sell your practice.  Buyers are often willing to pay a premium for these practices since they know a steady stream of patients will come through the door.  If your practice has a high percentage of senior patients with chronic medical conditions, this is also sought after by buyers.

How Prepared The Practice Is

If you have taken the time to prepare your practice for sale, it can help speed up the process. This includes ensuring that all of your financials and legal paperwork are in order and that all of the necessary legal and regulatory requirements have been met.

Your Asking Price

Finally, your asking price can also have an impact on how quickly you can sell your practice. It can take longer to find a buyer if you are asking for a higher price than what the market is willing to pay. On the other hand, if you are asking for a lower price, you may be able to find a buyer more quickly.

Conclusion

By understanding these factors and using them to your advantage, you can help speed up the process of selling your medical practice. If you are looking to sell your medical practice, contact Stretegic Medical Brokers today! We have the experience and expertise you need to complete the job quickly and efficiently.