The name
Beaulah Mae Capital is named after my great-grandmother, whose community doctor in Central Louisiana didn’t miss a beat when she decided she was done driving, and simply started making house calls.
Four generations of my family, hers through mine, went to that same doctor, and practices like that one are still out there today, kept open by the people who work in them. They deserve an owner who will do the work to keep them open and make them better.
Jeremy WilmerFounder and Managing Partner
What we look for
If this sounds like your practice, we would like to hear from you.
- The business
- Owner-operated community healthcare practices and outpatient care businesses, single-site or multi-site, serving a mix of Medicare, Medicaid, and commercial patients.
- The size
- Roughly $2M–$10M in annual revenue and $500K–$2M in annual earnings (EBITDA).
- The place
- Michigan, East and North Texas, and Central Louisiana.
- The moment
- An owner who is thinking about stepping back, this year or several years from now, and has no successor inside the practice.
- The first conversation
- Confidential, and only a conversation: what you have built, what you want for it, and whether we would be the right owner.
How we own
A trusted practice still needs a strong operation behind it.
A practice can have devoted patients and still have a worn-out staff, weak billing, and systems nobody has had time to fix, and that is where an operator is useful. Our job as owners is to carry the operational load, from billing and compliance to reporting, staffing, and systems, so that the clinicians and staff can keep their attention on patients.
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Acquire
We buy from owners who are ready to step back and have no one inside the practice to hand it to, with the intention of owning for the long term. We plan the handover together with the owner, so that staff and patients hear the news from someone they trust.
- A long-term hold
- A handover planned with the owner
- Staff and patients told first, in person
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Systematize
We spend the first ninety days in the building with the people who do the work, learning how the practice runs before changing it. From there we stabilize billing and compliance, build the reporting the practice never had time for, and improve the systems already in place before replacing any of them.
- A ninety-day stabilization plan
- Billing and compliance review
- Reporting the practice can run on
- A plan to keep the team
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Grow
Once the practice is steady, we invest so that it can serve more of its community, whether that means added services, more capacity, or new locations where they are needed.
- Added services
- More capacity
- New locations
- Stronger referral relationships
The long-term goal
In time, a practice that is paid for keeping people well.
Most practices are paid by the visit, and for most of them that will stay true for a long while. Value-based contracts, which pay a practice for how well its patients do, are harder to earn and harder to run, because they depend on clean data, dependable workflows, and a team with enough room in the day to follow up with patients between visits, and a practice that takes one on before it is ready can lose money doing it.
We still see it as where a well-run practice can eventually arrive, since it brings steadier income and pays for the follow-up calls, the coordination, and the house calls that per-visit billing has never paid for well. We expect to move toward it gradually, and only where the practice and its patients are ready for it.
The founder
Jeremy Wilmer
Founder and Managing Partner
He has spent twenty years in healthcare operations, beginning in Medicaid operations at Texas Health and Human Services and continuing through Medicaid eligibility and community health, post-merger integration, revenue optimization, and home and virtual care, with responsibility for more than $30M in P&Ls along the way.
Where those twenty years were spent
- Texas Health and Human ServicesMedicaid operations
- Change HealthcareMedicaid eligibility and community health
- ProtivitiChange management and post-merger integration
- DaVitaRevenue optimization
- Amazon CareHome and virtual care at scale
- Accompany HealthValue-based care, home and virtual
Where to begin
A quiet conversation
If you own a community practice and have begun to wonder about the next chapter, this year or years from now, I would welcome a confidential conversation.
Advisory
An operator’s read on a healthcare business before and after the deal, covering operational diligence, post-close stabilization, and value-based care readiness.
Perspectives
Essays and field notes on healthcare acquisition, operations, and the forces shaping community care, written from twenty years inside the system.