Reasons To Buy a Medical Practice in Florida

Growth and Stability of Florida’s Medical Industry

As an experienced medical professional, you’ve spent years honing your skills and developing a keen understanding of patient care. Now, you’re ready to take the next step in your career – owning a medical practice. But where should you buy? There’s one state that stands out for its potential and promise: Florida. This post will outline the compelling reasons why buying a medical practice in Florida can be a smart move, especially through the expert guidance of a specialized broker like Strategic Medical Brokers (SMB).

1. Flourishing Medical Industry

Florida has a robust healthcare sector, characterized by a large patient population and a vast network of medical facilities. With its diverse demographics and an aging population, the demand for healthcare services is high, creating a ripe environment for medical practices.

2. Favorable Business Climate

Florida is known for its business-friendly environment. The state offers attractive incentives, coupled with low corporate taxes, no state income tax and a competitive cost of living, making it an ideal place for business ownership.

3. Florida Allows the Corporate Practice of Medicine

Numerous states have enacted laws prohibiting the corporate practice of medicine, directly and indirectly.  These types of laws are crafted to prevent non-physicians from influencing or interfering with a physician’s professional judgment and furthermore, affect the ability of business entities to enter into agreements with health care professionals. In contrast, Florida permits the corporate practice of medicine with certain exceptions (e.g. dentistry and optometry).

4. High Quality of Life

The quality of life in Florida is another factor that makes it an appealing choice. With its warm climate, beautiful beaches, and array of recreational activities, Florida is not just a great place to work, but also to live.

5. High Population Growth Rate

Florida was the eighth-fastest growing state in the U.S during the period from 2010 to 2023, posting a total population growth of 18.92%.  During that time period, Florida surpassed New York as the third-largest state in terms of population, going from 18,801,310 residents in 2010 to 22,359,251

6. Access to Expert Guidance with SMB

Navigating the process to buy a medical practice in Florida can be complex, but with Strategic Medical Brokers, you’re not alone. SMB specializes in healthcare sector deals, offering a unique blend of expertise, experience, and a high success rate.

SMB’s specialization in the healthcare sector means that they understand the unique needs and circumstances of medical professionals looking to buy practices. This level of understanding can’t be matched by general business brokerage firms, making SMB an invaluable partner in your practice purchase journey.

Moreover, SMB’s team consists of professionals with backgrounds in both medicine and business ownership. They don’t just broker deals; they leverage their combined experience to offer expert advice and ensure the best outcomes for clients.

7. Assurance of High Standards and Quality

SMB prides itself on its high standards and selectivity. This means they offer only the best listings, assuring potential buyers of the quality of the practices they represent. Furthermore, they provide credible practice valuations, ensuring you know exactly what you’re getting into when you buy a practice.

8. Dedicated and Personalized Support

SMB’s client-centric approach means you can expect personalized service tailored to your unique needs and goals. They guide physicians through the intricacies of buying and selling practices with care and diligence, ensuring smooth transitions that respect the values, legacy, and future of each practice.

Final Takeaway

Buying a medical practice in Florida offers a wealth of opportunities, thanks to the state’s thriving healthcare sector, favorable business environment, and high quality of life. And when you partner with Strategic Medical Brokers, you gain access to a dedicated team of specialists who can guide you through the process with expertise, professionalism, and a commitment to your success. Make your next career move with confidence – choose Florida, and let SMB be your strategic partner in this exciting journey. Ready to buy a medical practice in Florida? Contact SMB today to start your journey.

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