Selecting the Right Auditor for Your Radiology Practice Transaction
When buying or selling a radiology practice, having an auditor with specialized healthcare M&A experience can mean the difference between a smooth transaction and costly oversights. Your auditor must understand not only the financial complexities of medical imaging operations but also the regulatory requirements specific to radiology, from IDTF certification to contrast material management. The right audit firm will have proven experience with multilocation imaging centers, understand physician compensation structures, and know how to properly value technical and professional components of radiology revenue streams.
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Top Auditor Firms Specializing in Radiology
1. CBIZ
Headquarters: Cleveland, Ohio
Service Area: National
Website: https://www.cbiz.com
2. BDO USA
Headquarters: Chicago, Illinois
Service Area: National
Website: https://www.bdo.com
3. RSM US
Headquarters: Chicago, Illinois
Service Area: National
Website: https://rsmus.com
4. Deloitte
Headquarters: New York, New York
Service Area: National/International
Website: https://www2.deloitte.com
5. AssuranceLab
Headquarters: Dallas, Texas
Service Area: National
Website: https://assurancelab.com
How to Select the Right Auditor for Your Radiology Practice Transaction
Choosing an auditor for your radiology practice M&A requires careful evaluation of their specific healthcare transaction experience and understanding of imaging center operations. Start by requesting references from recent multilocation radiology or imaging center acquisitions, and verify their familiarity with both hospital-based and freestanding imaging facilities. Expect comprehensive due diligence and audit fees to range from $50,000 to $175,000, depending on the number of locations, modalities, and transaction complexity. Most importantly, confirm their experience with private equity healthcare transactions if PE involvement is likely, as these deals often require additional compliance standards and reporting requirements that general healthcare auditors may not fully understand.
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Frequently Asked Questions
Why is it important to choose an auditor with specialized healthcare M&A experience for radiology practice mergers and acquisitions?
Choosing an auditor with specialized healthcare M&A experience ensures the transaction is smooth and avoids costly oversights. These auditors understand the financial complexities unique to medical imaging operations and the specific regulatory requirements related to radiology, ensuring compliance and accurate valuation.
What are some key features an auditor should understand in radiology practice transactions?
An auditor should understand multilocation imaging centers, physician compensation structures, regulatory needs such as IDTF certification and contrast material management, and how to value both technical and professional components of radiology revenue streams.
Can you name some top auditing firms specializing in radiology practice mergers and acquisitions?
Yes, some of the top auditing firms specializing in this area include CBIZ (Cleveland, Ohio), BDO USA (Chicago, Illinois), RSM US (Chicago, Illinois), Deloitte (New York, New York), and AssuranceLab (Dallas, Texas). All operate nationally, with Deloitte also providing international services.
What factors should be considered when selecting the right auditor for a radiology practice transaction?
Consider their healthcare transaction experience, familiarity with multilocation radiology or imaging center acquisitions, understanding of both hospital-based and freestanding imaging facilities, and experience with private equity healthcare transactions if applicable. Also, request references and prepare for audit fees between $50,000 and $175,000 depending on transaction size and complexity.
How much do audit fees typically range for radiology practice mergers and acquisitions?
Audit fees typically range from $50,000 to $175,000, depending on the number of imaging locations involved, modalities, and the overall complexity of the transaction.
