Audiology Services – Contracts with Nursing Homes & VA

Business Summary:
With long-existing nursing home and veteran contracts, this audiology clinic has had over 200+ clients in the last five years between their two locations in Nebraska! Since the inception of the company in 1993, they have seen close to 1,000 different patients. This company provides audiology and hearing aid services for all ages including comprehensive hearing evaluations, hearing aid consultations and fittings, and special diagnostic tests. The current owner is the audiologist, providing all patient services. Alongside the owner is one full-time employee, the office manager, who handles all communication with patients, dedicates reports, troubleshoots, and recommends hearing items for patients, and works with insurance companies for claim submissions. They serve up to a 100-mile radius of West Point, with the audiologist/owner traveling a few times a week to provide services in nursing homes and to veterans. The West Point location is a 1,000 square feet stand-alone building specifically built for a medical clinic and is owned by the owner. The office is open Monday through Friday from 9:00am-5:00pm by appointment and walk-in. The Fremont location is a single 10x12 foot office in a shared office building with the current lease is being $300/month and is by appointment only. This audiology clinic is not tied to a physician or private practitioner, which gives the company freedom to be its own private practice and see clients as they wish. Some areas for growth include moving away from paper charting and expand on marketing as well as telehealth, nursing home, and pediatric services. At the purchase price of $425,000, a 10% down payment of $42,500 returns $78,886 in the first year after debt payments, which is a 186% return on investment.