Want a Better Deal? Start with Cleaner Books.
Financial housekeeping can make or break your practice sale.
At Wicklow Healthcare Advisory, we like to say: "The best time to clean up your books was yesterday. The second-best time is today."
Whether you're planning to sell to a corporate group or passing the torch to another independent practitioner, one of the smartest moves you can make is getting your financial house in order before you go to market.
We see it all the time: the sellers who walk away with the cleanest exits and strongest valuations are the ones who took the time to prepare, starting with their financials.
Buyers—Of All Types—Want Clarity
It doesn't matter who's buying your practice—a private equity group, a DSO, or a young associate ready to take the leap—the same truth applies: Organized, transparent financials build trust and unlock value.
Here's what every buyer is hoping to see:
Clear profit and loss statements with consistent formatting
Normalized earnings that strip out personal or one-time expenses
Accurate reporting from your practice management software
Alignment across tax returns, bookkeeping records, and bank statements
The better prepared your numbers are, the more confidently a buyer—any buyer—can move forward.
The Hidden Cost of Disorganized Books
If your records are messy or unclear, two things usually happen, and neither is good:
Buyers get spooked. They assume the unknowns are hiding risks—and they discount their offers accordingly.
The deal slows down. What should be a smooth diligence process turns into a painful financial archaeology project.
And it’s not just corporate buyers. In a private, doctor-to-doctor sale, a young associate buying their first practice may be even more risk-averse—and less experienced in due diligence—than a seasoned M&A team. If they start feeling uncertain about the numbers, they’re more likely to stall, renegotiate, or walk away altogether.
Why Clean Books Help Every Seller
In a private sale:
Clear financials help a new owner understand exactly what they're buying, plan for their loan, and feel confident stepping into your shoes.
In a corporate deal:
Organized data streamlines the buyer’s financial modeling—and makes them more willing to compete for your business or offer more favorable terms.
For both:
You’ll reduce surprises, speed up due diligence, and put yourself in a stronger negotiating position.
Bottom line? Buyers want transparency. Organized books are how you earn it.
Think of It Like Curb Appeal—But for Your P&L
When you’re selling a house, you might repaint the front door or plant some fresh flowers out front. Cleaning up your books is the financial version of that—it makes your practice more attractive, more approachable, and ultimately, more valuable.
Here’s how to start:
Work with a CPA or bookkeeper who knows healthcare practices inside and out.
Separate business from personal—no more ski trips showing up under “Continuing Ed.”
Normalize your financials by adding back owner comp, family wages, or one-time expenses.
Cross-check your numbers with reports from Dentrix, Eaglesoft, AVImark, or whatever practice management system you use.
Review your tax returns and make sure they match your internal financials.
Pull together a clean, multi-year financial summary that tells a clear, compelling story.
Even if you’re not planning to sell for a year or two, this is time well spent. It doesn’t just make your exit easier—it makes running your business easier too.
Final Thought: Preparation Signals Professionalism
Selling your practice is one of the biggest transitions you'll ever make. Whether your buyer is a corporate group or the associate you’ve mentored for years, your financial presentation sets the tone for the entire deal.
At Wicklow, we help owners get their practices market-ready every day—organizing, packaging, and presenting the business in the strongest possible light.
Clean books aren’t just for accountants. They're for sellers who want top dollar and a smooth deal.
Need help getting your financials in order before you sell? Reach out to Wicklow Healthcare Advisory. We’ll help you prepare like a pro, whether you’re selling to Wall Street or Main Street.
