At some point in time, you may need to know the value of your practice. The reasons may be due to; planning for a potential sale, adding an associate or partner, or just planning for retirement.
An appraisal can more accurately determine the true value of your practice. The historical collections and financials are important but there are a number of other factors that are considered when determining a current value such as, the quality of the client base, the facility, equipment, the continuing management team, personal benefits to the owner and market data are all important.