Medical business valuation is the method of determining a market value for your business. Assessing the value of your chiropractic business, for example, should be your first step when you are considering selling or expanding your current office. Many factors go into getting a chiropractic business appraisal, such as the number of patients you see, the number of doctors working at the practice and the size of the city in which your office is located. There are plenty of valuation resources out there. It is up to you to use the best method for your practice.

Getting a business assessment is an invaluable resource to help you make important business decisions. Consider these options when wanting to find your chiropractic office’s value:

1. Meet with a local appraiser and take advantage of the opportunity to work closely with them.

2. Think about using informational resources like forecasting and financial reports in your valuation.

3. Buy software to figure out your doctor business' value yourself and on your own time.

Action Steps
The best contacts and resources to help you get it done

Team up with an area valuator and purchase chiropractic practice valuation

Not all business valuations are the same. A local appraiser will be able to meet with you and explain the different reports and formulas that are necessary for a proper and accurate medical business valuation. A valuator in your area will have a better idea of regional economics, giving you advice to help you make sound business choices when it comes to expanding your office, or selling the practice, for example.

I recommend: Banister Financial in Charlotte, North Carolina has many years of experience in performing healthcare-related valuations for companies of all sizes. Work with Fair Market Valuations, which has offices all over the United States, when you are looking for a chiropractic practice that is accurate and comprehensive.

Read business reports and analyses to complete a doctor business appraisal

One way to gauge your chiropractic office's value is by consulting industry-specific financial and market reports and analyses. These give you all the information you will need when valuating your business. A general economic report will show how the economy is doing as a whole. A healthcare industry-specific report will go into much greater detail regarding the performance of the sub-division you are in, whether you are looking for chiropractic or a dental business' worth.

I recommend: When you’re looking for healthcare industry reports or any other kind of industry financial reports, look to First Research. They have comprehensive information packets on the different sub-divisions of the healthcare industry, such as the chiropractic industry. Infiniti Research will provide all of the medical industry and market information you need to complete an accurate medical business valuation.

Get specialized software to get your chiropractic office's value on your own

Learn how to value a business by using helpful chiropractic practice appraisal software. The factors and formulas created especially for valuing medical business are included, meaning you will get a report tailored specifically to your industry and particular business. Being able to value your business can help you obtain financing if you ever want to sell your practice or upgrade your offices to take on more patients.

I recommend: Business-Valuations.biz is an online tool that allows you access to their business valuation tool for the specific amount of time you purchase. RDS Associates offers a software called BizPricer that can determine the market value of any type of healthcare business, such as chiropractic, that has at least three years of income and expense data.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  It is a good idea to get a chiropractic practice valuation second opinion to ensure that the method or professionals you chose the first time were able to capture the true worth of your business.