Would You Buy a Retiring Surgeon's Practice? — Jonathan Kaplan, MD (Ep. 382)

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➡️  Dr. Kaplan tracked what happened after he took over a San Francisco practice.

Hello, and welcome to "Beauty and the Biz," where we'll discuss the business and marketing side of plastic surgery.

As always, I'm your host, Catherine Maley, author of "Your Aesthetic Practice – What Your Patients Are Saying." and consultant to plastic surgeons, helping them get more patients and more profits.

Jonathan Kaplan, MD, shares his journey and answers the question, "Would You Buy a Retiring Surgeon's Practice?" To begin with, if a retiring plastic surgeon offered to sell you their practice, what would you actually be buying? Specifically, Dr. Jonathan Kaplan faced that exact question. Moreover, this board-certified plastic surgeon moved from Baton Rouge to San Francisco to purchase a clinic.

Initially, the practice featured an established location, injectable patients and an accredited operating room. Subsequently, they settled on a selling price of $191,000. However, Dr. Kaplan did not assume the retiring surgeon's patients would become his patients.

Then, five years later, he checked the numbers. Surprisingly, only 6.8% of the previous surgeon's patients had returned to see him at least once. Nevertheless, Dr. Kaplan calculated a 312% return on his investment. Ultimately, the "Would You Buy a Retiring Surgeon's Practice?" episode reveals exactly why the deal worked.

Indeed, the lesson is in the details:

First, the operating room was an asset he could use immediately.

Additionally, he could collect facility fees along with his professional fees.