Medical billing software with recurring revenue.

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Gross Revenue:
Cash Flow:
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Real Estate:
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Business Description

This company, founded in 1988, is a developer of a recurring revenue business model medical billing software used by the behavioral health industry.

This business is truly turn-key with strong, stable, long-term staff in place. After the first two months of on-boarding a new client there is a very low level of ongoing staff time required beyond customization (which is billed for), and software updates. The software lease fees become a source of monthly recurring revenue.

This software is used in client clinics in 30 states and includes some larger healthcare systems that appreciate its enterprise-level functionality. There's a low level of client churn (less than 11% from 2010-present), and it has attracted, on average, six net new clients per year.

The company has experienced very high margins (EBITDA margin for the 12-months ending 7/31/17 was 66%), and produces high annual revenue per employee of $534,499, as well as $354,370 in EBITDA per employee.

About the Business

Year Established:
Number of Employees:
This business is operated virtually with staff members throughout the country. The vast majority of client interactions are online and by phone.
Market Outlook/
While medical billing software is a competitive field, this business has long-term satisfied clients and has enjoyed significant year-over-year net client gains without marketing the business. Clients appreciate the sole Behavioral Health focus, its enterprise level functionality, and that it can integrate well with other software systems.
Growth & Expansion:
Growth and expansion opportunities include: 1, initiate an active sales and marketing campaign - virtually no marketing or advertising has been done in the past; 2, increase prices - this business' monthly pricing is similar to some competitors maintenance charges AFTER buying software; 3, continued revenue growth will lead to higher margins - this business can grow by about 25% without adding additional staff (its primary expense), so most of that revenue will drop to the bottom line; and 4, offer an out-sourced billing service.
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About the Sale

Reason For Selling:
Preparing for retirement
The owner is committed to a successful transition and willing stay on for 2-5 years.
Cash Flow Comments:
EBITDA: $1,695,740
Seller Financing:

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Business Listed by

Eric Williams

Codiligent LLC
License# 200309075

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