Organisation byline
HPNA Valuation Team
Healthcare business valuation specialists
About HPNA Valuation Team
Articles published under this byline are prepared and reviewed by the HPNA valuation team. Named author profiles, qualifications and experience will be published once verified.
Articles by HPNA Valuation Team
Business Valuation Versus Business Appraisal
A broker appraisal estimates a likely sale price. An independent valuation is a documented opinion of value at a stated date, for a stated purpose.
14 min readReadDoes a Medical Practice Have Transferable Goodwill?
Sometimes. A medical practice has transferable goodwill to the extent that patients keep attending after the doctor who attracted them has left.
12 min readReadEBITDA Multiples for Healthcare Businesses
What an EBITDA multiple is, how it relates to a capitalisation rate, and why a sector average tells you almost nothing about an Australian healthcare business.
12 min readReadGovernment Funding Exposure and Healthcare Business Value
How Medicare, PBS, NDIS and aged care funding settings affect the value of an Australian healthcare business, and how a valuer prices that exposure.
13 min readReadHealthcare Business Valuation Methods
The valuation methods used for Australian healthcare businesses: maintainable earnings, discounted cash flow, net assets, market evidence and cross-checks.
12 min readReadHow Practitioner Dependence Affects Business Value
Practitioner dependence is the share of a healthcare business's earnings that rests on one person. How valuers measure it, price it and test what transfers.
14 min readReadHow the Clinical Workforce Affects Healthcare Business Value
Workforce availability, award coverage, contractor models and payroll tax all move healthcare business value. How a valuer prices workforce risk.
13 min readReadHow to Value a Chiropractic Practice
How Australian chiropractic practices are valued: earnings after the owner's clinical wage, prepaid care plans, patient retention and transferable goodwill.
12 min readReadHow to Value a Dental Practice
How Australian dental practices are valued: principal production share, associate contracts, hygienist leverage, patient base, equipment and goodwill.
12 min readReadHow to Value a Medical Practice in Australia
How Australian medical practices are valued: purpose and date, normalising doctor remuneration, maintainable earnings, method choice, goodwill and risk.
12 min readReadHow to Value a Pharmacy in Australia
How Australian community pharmacies are valued: the PBS approval and location, script mix, dispensing income, 60-day scripts, stock and ownership law.
12 min readReadHow to Value a Physiotherapy Practice
How Australian physiotherapy practices are valued: revenue channels, administered fees, therapist productivity, class income, referrals, goodwill and method.
12 min readReadHow to Value a Psychology Practice
How Australian psychology practices are valued: Better Access rebates, contractor splits, referral portability, waitlists, telehealth, goodwill and method.
12 min readReadHow to Value a Veterinary Practice
How Australian veterinary practices are valued: private fee income, the principal veterinarian's wage, the workforce shortage, stock, premises and goodwill.
13 min readReadHow to Value an Allied Health Practice
How Australian allied health practices are valued: revenue mix, practitioner dependence, contractor and payroll tax risk, utilisation and transferable goodwill.
12 min readReadHow to Value an NDIS Business in Australia
How Australian NDIS providers are valued: registration, price limits, service mix, participant concentration, plan risk, claiming, workforce and method.
12 min readReadPatient, Participant and Referral Concentration in Healthcare Valuations
How patient, participant, referrer and payer concentration is measured in an Australian healthcare business, and how a valuer reflects it in value.
12 min readReadPayroll Tax, Contractor Arrangements and Medical Practice Value
How payroll tax on contractor doctors affects practice value: the relevant contract rules, Thomas and Naaz, the state positions and the valuation treatment.
12 min readReadPremises and Lease Terms in Healthcare Business Valuations
How premises and lease terms affect the value of an Australian healthcare business: rent normalisation, term and options, assignment, make good and relocation.
12 min readReadPreparing a Healthcare Business for Sale
What owners work on before selling a healthcare practice: practitioner dependence, contractor arrangements, leases, approvals and sale structure.
13 min readReadValuing a Healthcare Business for a Shareholder Exit
How a departing shareholder's interest in an Australian healthcare business is valued: the valuation clause, the equity bridge, timing and goodwill.
12 min readReadValuing a Healthcare Business for Family Law
How a medical, dental, pharmacy, NDIS or allied health practice is valued for a family law property settlement, and what a single expert report must contain.
13 min readReadValuing a Healthcare Business for Tax Purposes
When the ATO expects a market valuation of a healthcare business: CGT events, small business CGT concessions, restructures, Division 7A and employee shares.
12 min readReadWhat Drives the Value of a Healthcare Business?
The twelve factors that move the value of an Australian healthcare business, from maintainable earnings and practitioner dependence to transferable goodwill.
12 min readReadWhat Information Is Needed for a Business Valuation?
The checklist for an Australian healthcare business valuation: financials, payroll, billing and activity reports, leases, registrations, ownership documents.
12 min readReadWhat Is Goodwill in a Medical Practice?
Goodwill in a medical practice is the value above its identifiable net assets: what it means in law and accounting, where it comes from, and when it transfers.
12 min readReadWhat Is Maintainable Earnings?
Future maintainable earnings is the profit a healthcare business can sustain. How normalisation, year weighting and the EBITDA or NPAT base decide the figure.
12 min readReadWhat Reduces the Value of a Medical Practice?
What reduces the value of a medical practice: doctor dependence, contractor payroll tax exposure, a narrow billing base, lost accreditation, weak records.
12 min readReadWhat Reduces the Value of an NDIS Business?
What lowers the value of an Australian NDIS provider: participant concentration, plan and price risk, claiming, rostering, compliance and registration.
12 min readRead