Process and Commonly Asked Questions
Empowering Your Practice
Parallel ENT & Allergy is a leader in practice management solutions, empowering practices to grow and compete in the modern healthcare environment. As a private equity-backed consultancy, Parallel partners with ENT and allergy practices to deliver on a promise of greater financial stability and expansion.
Parallel ENT & Allergy cares for the non-clinical side of the practice, allowing physicians to be more laser-focused on patient care. Parallel infuses the practice with cash and provides a suite of best-in-class solutions—including HR, recruiting, marketing, finance, accounting, payroll management and IT solutions—enabling the practice to keep patient care top of mind. Bottom line—Parallel ENT & Allergy empowers ENT and allergy practices for the future and grows in parallel with them.
Frequently Asked Questions
What does a partnership with Parallel ENT & Allergy mean?
A partnership with Parallel ENT & Allergy is more than just a transaction; it’s a true collaboration. We work with you to support your clinical excellence with our operational expertise. Our goal is to empower your practice to thrive, while allowing you to maintain your brand and legacy. We also offer the opportunity to roll equity, allowing you to benefit financially from the long-term growth of the leading ENT & Allergy platform.
Will you change the brand of my practice?
No. Our belief is that we are partnering with exceptional practices that have built a substantial brand reputation and goodwill. We are not interested in changing what works. Your brand, your name, and your legacy will not only live on but will be strengthened by our partnership.
How will my schedule and day-to-day operations change post-acquisition?
Clinical processes remain untouched by Parallel. You are free to practice medicine in the same manner that has made you a successful practitioner. Parallel does have a Medical Advisory Board that shares representation from all partner practices, but that board is a medium for sharing best practices and protocols, not a governing body. On the back-office side of the business, Parallel will integrate its support systems. It may involve adopting new systems for EMR, payroll, financials, and accounts payable. Parallel’s team of strong operators will work with your employees to ensure the transition is as comfortable as possible and interferes as little as possible with your day-to-day role as a clinician. These integrations will allow your practice and the organization to capture efficiencies and more effectively share information.
What will happen to my staff post-acquisition?
Your staff is part of the success of your practice, and Parallel’s model is to support, not reduce. We partner with local operators and administrators to provide them with the resources and support they need to further the growth and efficiency of your practice. We also encourage the development of strong operators. Several members of the Parallel corporate team are former high performers from our practices that grew into larger roles.
How will my practice change after partnering with Parallel ENT & Allergy?
While your clinical autonomy will not change, our partnership is about creating a collaborative environment to achieve business excellence. We specialize in the business parts of running a practice, including marketing, human resources, and back-office support. Together, in consultation with your team, we will identify opportunities for improvement and implement changes that enhance the patient and staff experience, leading to greater profitability and growth. Suggestions on enterprise-level integrations and systems that impact the clinic are always originated by our physician leaders.
The Process For Forming A Practice Partnership
Let our leadership team handle the non-clinical tasks so you can focus on your patients. The process of joining Parallel is easy. Why Parallel? We deliver the practice management expertise to meet your goals, while also being easy to work with, honest and flexible every step of the way.
Non-Disclosure Agreement
To get started, we both sign a non-disclosure form that ensures our conversations and requests are held in complete confidentiality.
Preliminary Financial Evaluation
We request high-level financial information to assist us in the valuation of your practice. Then we coordinate meetings to create a process and plan unique to your business. Along the way, we always make sure that all of your questions are answered.
Letter of Intent (LOI)
Parallel's team reviews the information provided and talks with you about the practice. Then we prepare a letter of intent. The LOI is a non-binding document that describes the detailed terms of the process and transaction.
Confirmatory Due Diligence
Once an LOI is signed by both parties, we conduct confirmatory due diligence. During this stage, we introduce you to our legal, accounting, benefits, and compliance advisors. Most, if not all, of their work is handled remotely.
Definitive Agreements
After the confirmatory due diligence and legal documents are complete, it’s time to close the deal. When the documents are signed, we wire your cash proceeds.
How We Make Great Practices Greater
GROW YOUR BUSINESS
Our best-in-class practice management administrative support gives you the benefits that larger networks enjoy.
IMPROVE OPERATIONS
ATTRACT TOP TALENT
Rely on our recruiting and HR teams to empower your top talent, so your employees want to join and stay with your practice.
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