High-demand virtual mental health clinic with $374K revenue, 12-20% revenue-share model, long waitlist, and strong growth potential via physician recruitment
A doctor is looking to sell a successful virtual mental health clinic based in Alberta, Canada. The clinic offers online mental health services, including family physician psychotherapy and psychiatric consultations, primarily conducted over the phone, with video options available if preferred. The clinic operates with a team of 10 family physicians and 3 psychiatrists working part-time, with doctors billing the government directly at rates of $200 per hour for family physicians and $500 for psychiatrists. The clinic retains 12-20% of the physicians' billed revenue. This model circumvents third-party insurance or private payments, providing accessible public psychotherapy services at no cost to patients, contributing to high demand and a lengthy waitlist.
The main challenges in scaling the business include a limited supply of physicians due to minimal marketing efforts and no active recruitment at relevant events like conferences or residency fairs. Operational costs include three part-time student support staff for administrative duties and a casual nurse coordinator. The clinic's operations are largely managed by the owner and their spouse, with potential for optimization. A significant operational cost is the Zoom phone service at $5,000 USD annually, which could be eliminated. Doctors enjoy flexibility in their working hours as they are contractors. The owner seeks to sell the clinic due to the high administrative workload and low net profit, desiring to pursue other ventures. The clinic presents an opportunity for buyers interested in optimizing operations and recruiting physicians to easily scale and enhance the business. Financials have been adjusted to reflect the accurate value of the business, excluding the owner's personal income.
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