Annual Revenue: $662,190
Net Cash Flow: $316,121
Industry: Health Care
This highly profitable, well-established practice specializes in the provision of Medical Nutrition Therapy for a variety of medical conditions both on-site and via telehealth and has been serving the region for more than 30 years.
The practice maintains a consistent flow of patients and has contracts in place with various insurance companies, having added 933 new patients and $560,000 in revenue in the trailing twelve months (TTM) to June 2023. In the months from October 2022 to October 2023, a total number of 5661 patient sessions have been conducted.
The practice offers a wide range of products and services centered on Medical Nutrition Therapy (MNT). Their approach focuses on evidence-based treatments and a behavioral approach to nutrition, effectively catering to patients with diverse medical conditions such as eating disorders, diabetes, high cholesterol, heart disease, high blood pressure, obesity, and food allergies. Operating in Massachusetts, with a strong presence in the Greater Boston area, they extend their services through telehealth, ensuring accessibility for patients across the state.
With a dedicated and diverse team of Registered Dietitians, the practice is well-equipped to provide comprehensive care for diabetes patients, including advanced self-monitoring with continuous glucose monitoring. They serve patients of all age groups, from pediatrics to older seniors, and have established strong collaborative relationships with various healthcare provider groups, making them the preferred choice for medical nutrition therapy in the region.
The practice has a vast referral network and a strong brand, with regular patient referrals from Medical Doctors, Therapists, Eating Disorder Programs, and self-referrals.
The current owner is planning to retire and is amenable to staying on for a few months to ensure a smooth transition.
The competitive landscape is evolving due to proposed legislation requiring insurance parity for Registered Dietitians (RDs) offering telehealth services. This potential change highlights the growing importance of nutrition therapy and the need for equitable reimbursement. Furthermore, the practice’s unique position as a reliable provider of outpatient MNT services becomes even more critical in an environment where few hospitals and medical groups can maintain RD staff, making the practice a vital resource for local healthcare providers addressing a rising population with obesity, diabetes, eating disorders, and renal disease.
There is significant growth potential, with opportunities in both in-person and telehealth services to expand the practice operations by increasing staff. This will also meet the current constraints on new business opportunities. Additionally, the practice’s strong referral network, coupled with untapped marketing strategies such as mailing, Google AdWords, and social media engagement, presents a clear path for continued growth and outreach in the current region and beyond.