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Preparing to Sell Your Business- Advice from Gary Meyn

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Preparing to Sell Your Business:
For those of you who own or know of somebody who owns a privately owned and profitable business, following are some things you should know as you plan for the future.

1. Have an Exit Plan in Place – Whether you started the business yourself or if you
acquired it and scaled it up over time, the time will come when you have to decide when
you and any partners must exit the business. Making a simple plan is recommended with
details to follow as you get five years from removing yourself from the business. Include
yourself and any partners in your exit plan. Maybe you plan on handing the business off to a family member.     Maybe a partner or partners want to buy you out. Or you may need to consider selling it. Either way your exit plan needs to be in place for a smooth transition once that time comes.

2. Financial Stability of the Business – Is your business profitable? Do you want it to be at
a certain level when you transition? Maybe you use your goal for the business as leverage
and motivation to scale your business up to a specific level during the time you have before
your exit. There have been many occassions where I have connected with an owner who wants to sell
their business and it is a shell of what the business once was. In these cases the owners
have grown to the point where they don’t want to work as hard and begin to ramp the
business down or just neglect it. In these cases the business will sell for a fraction of what
it once was. If you want to get the most out of the sale of your business make your plan to sell at it’s
financial Peak. This will garner more interest from potential buyers and bring a higher
asking price which will br more likely to stick at closing.

3. How Much Should I Ask For My Business? – Main Street to Lower Mid Market Businesses typically sell for a multiple of the Net Cash Flow or SDE (Sellers Discretionary Earnings). You should have good financials kept by a reputable bookkeeper and Accounting firm which will keep year to year financials on your Business. IE: Profit & Loss
Statements and Balance Sheets are common documents most buyers will want to see. Business Tax Returns will reflect your financials as you have submitted in each tax year and are generally the preferred document to review by potential buyers. Particularly those who will seek a lender to acquire the business. I have helped many business owners by reviewing their P&Ls and identifying valid add backs which increase the bottom line Net Cash Flow therefore enabling them to ask a higher multiple for the asking price.

For this article I have touched on some generalities and will elaborate in more detail and additional topics in future HLSA Newsletter Articles. Please call me for a free consultation or to learn about our Vested Business Brokers generous Referral Program.

Gary J. Meyn, LFACHE
Vested Business Brokers, Ltd.
Cell: 210-912-0120
Email: gmeyn@vestedbb.com

Vested Business Brokers

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My goal for HLSA is to learn what our attendees seek to improve their business or to acquire their next position. As a co-founder of HLSA we have put together a dedicated board that will provide the guidance and networking required to help you reach your goals. As a Business Broker I utilize the Vested Business Broker platform. Vested is the largest, non-franchised Business Brokerage in the Country. We have over 125 Brokers Nationally and do business in 35 States. Our top priority is for the complete confidentiality of our sellers as we assist them in listing and then finding qualified buyers for their respective businesses. Our procedures are set up to incrementally qualify buyers for acquisitions of businesses we list. Those procedures are unique but will provide any buyer with full
disclosure of all aspects of the business they are interested in. Our processes must be followed by contract with our Sellers. These processes have been honed over 25 years and over 3500 businesses sold. They work well for both our sellers and our buyers. These procedures are the main reason our sellers list with Vested Business Brokers. I make a living by helping people buy and sell privately owned, profitable businesses. Building my practice takes networking. That networking is how HLSA operates and why it was founded. I would like to partner with anyone who may seek to acquire or sell a profitable business. We have a generous referral program to solidify any partnerships.

Vested Referral Program– Referrals are a main source of growing my brokerage practice. I would love to have more listings across the country, regionally and locally, so if you know of anyone looking to sell or buy a privately owned, profitable business please consider referring them to me. See our referral program info below. Thanks and all the best! I would like to introduce you to our Vested Referral Program. Simply refer the name, address and contact information of the seller of a privately owned, profitable business or an interested buyer and you will be eligible to receive a percentage of our commission upon closing of a sale with that referral. This is no small amount depending upon the business purchased and the final sales price. Please see the link below with more information!

Link to Vested Referral Program: https://www.vestedbb.com/referral.html

Vested Business Brokers Website: https://www.vestedbb.com/

Thank you for your consideration!
Gary J. Meyn, LFACHE
210-912-0120
gmeyn@vestedbb.com

 

Streamline Your Revenue Cycle with Wave Online’s Expert RCM Services

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Streamline Your Revenue Cycle with Wave Online’s Expert RCM Services

By August Trevino 02-2025

In today’s complex healthcare landscape, optimizing your revenue cycle is crucial for financial stability and growth. Lagging payments, denied claims, and inefficient processes can significantly impact your bottom line. Wave Online, your trusted RCM partner with 25 years of excellence, understands these challenges and offers comprehensive Revenue Cycle Management (RCM) services designed to maximize your practice’s profitability.   

We’re not just meeting industry benchmarks – we’re exceeding them. 

Our advanced processes, cutting-edge technology, and dedicated team consistently outperform industry metrics, delivering superior results for our clients.   

A No-Obligation Consultation: Your First Step to RCM Success

We’re so confident in our ability to improve your revenue cycle that we’re offering a no-cost, no-obligation consultation and analysis. This comprehensive review will help you:

  • Identify reasons for your Billing and Collections Lag: Pinpoint the bottlenecks in your current system that are slowing down your cash flow.
  • Analyze the reasons for Denial and Rejections: Understand the root causes of denied claims and implement strategies to prevent them.
  • Capture differences in Contracted vs. Actual Payments: Ensure you’re receiving the full reimbursement you’re entitled to for your services.
  • Evaluate your Front-End Operations, A/R, and Processes: Optimize your front-end processes to improve efficiency and reduce errors.

This consultation is a risk-free opportunity to gain valuable insights into your current RCM performance and discover how Wave Online can help you achieve your financial goals. Let us show you how we can transform your revenue cycle and improve the efficiency and profitability of your practice.

The Wave Online Advantage: Exceeding Industry Standards

At Wave Online, we’re committed to providing best-in-class RCM services that deliver tangible results. Here’s how we compare to National MGMA benchmarks:

  • Faster Claims Processing: Our average claims processing time is just 35 days, significantly faster than the MGMA standard of 40 days. This means quicker revenue for your practice.   
  • Higher First-Pass Resolution Rate: We achieve an impressive 92% first-pass resolution rate, surpassing the MGMA benchmark. This reduces denials, minimizes rework, and boosts your cash flow.   
  • Lower A/R Days: Our clients enjoy an average A/R day of 38, considerably better than the MGMA standard of 40 days. This demonstrates our efficiency in collecting outstanding balances.

Controlling Your Accounts Receivable

Effective management of Accounts Receivable (A/R) is essential for a healthy revenue cycle. According to MGMA, the median percentage of A/R over 90 days is 21%, with the top tenth percentile at 14%. At Wave Online, we empower our clients to achieve top-tier performance. Based on the best practices of our high-performing clients, we strive to help providers achieve an A/R > 90 days of less than 15% of the total, significantly improving their financial health.   

Partner with Wave Online for RCM Excellence

Choosing the right RCM partner is a critical decision. With Wave Online, you’re not just getting a service provider; you’re gaining a dedicated partner committed to your success. Our 25 years of experience, combined with our advanced technology and expert team, allows us to deliver exceptional results that set new standards in the healthcare industry. 

Visit our website at https://wavehca.com/practice-performance | to learn more and schedule your no-obligation consultation today. Let Wave Online help you unlock the full potential of your revenue cycle.  

Orchestra Health: Reinventing Surgery Coordination

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One of the great things about HLSA is the opportunity to learn about new business ventures in our area, one of the most exciting of which recently has been Orchestra Health. A digital platform and service solution for improving pre-surgical coordination and managing PAT remotely. Orchestra Health was co-founded by Stuart Solomon MD, an anesthesiologist with a background in perioperative medicine and digital health, alongside Austin Lopez-Gomez, an experienced logistics software engineer with a career in operations heavy industries. 

Most of us who have been involved in the delivery of healthcare, from both practice management and hospital settings, are very familiar with the frequently chaotic path patients must navigate once they are told they need surgery.  Assembling the numerous blood samples, tests and images to complete their clearance packet offers many opportunities for missed appointments, lost reports and changes in overall health status that can lead to cancelled procedures. When these happen last minute- the day before or even the morning of-it leads to frustration for both the patient and their surgeon.

Orchestra Health provides a streamlined, digital, one-stop shop to change all this with coordinated preop tracking, unified communications, efficiency insights and telehealth medical clearance. By managing the process from day one,  provides up to a 15 percent increase in utilization along with a 30 to 50 percent reduction in PAT costs.  

If your practice or surgery center would benefit from more reliable coordination and increased revenues, contact Orchestra today at 210-802-7551, or email hello@tryorchestra.com