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Marc Egort: 'Things Evolve Because

                   There's a Need For Them'                                                When it comes to ultrasound systems
                                                                                             The Machine Makes
                BY LOIS THOMSON

          According to Marc Egort, "There are                                                       ƋĘå %ĜýåųåĹÏå
        quite a few things a CPA gets involved
        with." Those "things" might even be
        ones not usually associated with CPA
        work. For example, a person may not
        consider that a CPA would be engaged in
        mergers and acquisitions; but Egort,
        founder of Marc Egort CPA, P.A., has
        been handling them for years.
          Interestingly, the two can go hand-in-
        hand and he explained how this evolved
        into his practice, saying he basically got
        started by being somebody's accountant.
        He said a client may indicate he is think-      Marc Egort
        ing of selling his business, and Egort
        will reply, all right, let's talk about it; let's   change the way you would view the val-
        figure out how you're contemplating the   uation approach." He cited a jewelry
        valuation, what you think some of the   company as an example, saying it might
        trigger points are, some of the vulnera-  have $5 million in inventory on their
        bilities. "As their CPA, you are in a   books. "What is that company worth?
        unique position to assist them with posi-  Using an over-simplistic approach, one
        tioning their business for sale and assist-  could make an argument that because
        ing them on the due diligence side. Like   the inventory is the largest asset of the
        anything else in practice, things evolve   company, its value would dictate the
        because there's a need for them.     sale; if I'm taking over that company, I'm
        Inevitably it just shows up when you've   basically buying that inventory."
        been practicing as long as I have."   On the other hand, physician practices
          Egort has been in the health care space   are more likely based on either the num-
        business for 32 years, with over 30 years   ber of patients or revenues. Egort said in
        in public accounting, starting in a   some cases, the buyer may have a strategic
        Medicare certified home health agency   reason for wanting it, or might just want
        in 1989. From there he went to work for   to make an investment in it. "Perhaps they
        a boutique CPA firm that specialized in   want to get the other group off the market       The Latest Siemens Healthineers
        home health reimbursement. He formed   because they're a competitor, or maybe            ACUSON Sequoia Ultrasound System,
        his own practice 10 years later. "I   they're taking over a dermatology practice
        became known as a Medicare reimburse-  that utilizers lasers, and their investment               now available in Florida
        ment consultant, but the funny thing   in that company gives them access to                    exclusively from Med-Lab.
        was, when my clients learned I had a   technologies they don't currently have.
        CPA license, they would say 'Oh by the   There are also strategic alliances, simply
        way, I need you to help me with my   because a physician wants to retire." He
        taxes.' From that it just kind of evolved   added that there are often intangibles that
        into an accounting practice, and now we   have to be considered as well, such as the   eŸ ± ŸŅĹŅčų±ŞĘåųØ ƼŅƚų ĵ±ÏĘĜĹå ĜŸ ƼŅƚų ĜĹŸƋųƚĵåĹƋţ
        are able to offer more in the way of cus-  goodwill of the practice, how long the   ¥Ņƚűƴå ĵ±ŸƋåųåÚ ĜƋŸ ŧƚĜųĩŸţ ¥Ņƚ ĩĹŅƵ ĘŅƵ ƋŅ ĵ±ĩå ĜƋ ŸĜĹčţ
        tomized services for our clients."   physicians have been involved, or how
          He said when going over financial   long they will continue to be involved    ƚƋ ±Ƌ ± ÏåųƋ±ĜĹ ŞŅĜĹƋØ ƋĘå ŅĹĬƼ Ƶ±Ƽ ƋŅ ŞƚŸĘ ƼŅƚų
        information with clients, he occasionally   post-sale.
        asks about their plans for the future, and   All of these must be taken into consid-  ŞåųüŅųĵ±ĹÏå üƚųƋĘåų ĜŸ ƋŅ ±ÚŅŞƋ ± ĵŅųå ±Úƴ±ĹÏåÚ
        they may say that in five or 10 years they   eration, but Egort said, "The discussion   ĜĹŸƋųƚĵåĹƋţ ‰Ę±ƋűŸ ƵĘåųå aåÚěX±Æ ÏŅĵåŸ ĜĹţ
        want to position the company for sale.   with my clients before they put their
        His first recommendation is: let's start   company up for sale is often, what's the
        with your financial statements. "Most of   number that makes you want to walk   Discover Your Dream Machine
        my clients – if they are service business-  away from everything. That's an impor-
        es – will prepare cash basis financial   tant discussion. It's got to feel good for   •  New DAX (deep abdominal)
        statements, whereas buyers usually want   them to walk away from their life's work     transducer penetrates up to 40cm.
        to see things on an accrual basis. So the   and feel as if they've gotten value out of
        first place to start is to make sure they   that."                             •  Image patients of all sizes accurately and consistently.
        have financial statements that the poten-  Egort didn't anticipate 25 years ago   •  Intuitive features you’ll appreciate right out of the box.
        tial acquirer could use or meet industry   having his practice expand into areas
        standard financial reporting."       such as mergers and acquisitions, but as   •  Exceptional image quality and color sensitivity.
          Because of his background in the   he said, things sometimes evolve
        home health market, Egort has a strong   because there's a need for them.      ƽ  (YXXMRK IHKI GSQTSRIRXW TVIWIVZI WMKREP ǻHIPMX]
        presence in the health care space and has   However, the most important aspect of   •  Faster, clearer imaging with minimal degradation.
        worked with quite a number of physi-  his business is service. "Service and
        cians – both groups as well as solo prac-  communication have been the hallmark   •  Image deeply without compromising diagnostic integrity.
        titioners. He pointed out how health   of our practice for over 30 years."
        care clients differ from others when it
        comes to mergers and acquisitions.                   For more information,
        "Working with health care is different                 all (754) 301-2183
        from companies that rely on sales of              or visit
        inventory. All have varying elements that

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        South Florida Hospital News                                                                                                                   June 2021                            5
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