How Technology Influences Practice Valuation and Buyer Decisions

1. How Technology Influences Practice Valuation and Buyer Decisions Innovation in Service Delivery: Automated systems, teleoptometry services, and advanced diagnostic instruments frequently result in higher patient satisfaction. This improves the practice's standing and competitive advantage, both of which have a favorable impact on valuation. Efficiency and Scalability: When practice management software and EHR systems are integrated, buyers are informed that the practice runs well and requires fewer resources to manage. Additionally, it exhibits scalability potential because the technology makes adapting to an expanding patient group simple. Established Patient Relationships: Teleoptometry services and automated patient engagement are signs of a robust, devoted patient base, which supports a practice's steady income. A practice with a high retention rate and a well- maintained patient database is a more dependable investment for persons ready to buy optometry practice. Reduced Transition Time: Adoption of technology makes the transfer of ownership easier for purchasers. Digitally equipped practices take less time to train new proprietors, allowing patient care to continue without interruption. Because it lowers risk and increases patient loyalty, this smooth handover is frequently a deciding factor for buyers. Originally published here: https://www.practicefindermedia.com/blog/impact-of- technological-advancement-in-optometry-practice-sales