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A certified valuer will listen to your situation and answer any questions you may have, at no cost.
From a family general practice in Kingston to specialist rooms near the Royal Hobart Hospital: valued on what the practice earns once your own consulting is paid for at market rates, with every step written down so it can be checked.
We value a Hobart general practice or specialist practice by capitalising the earnings it can sustain once each principal is paid a market salary for the sessions they work. One-off items come out, the capitalisation rate is built from a risk-free rate and risk premiums, and comparable practice sales and equipment values test the answer.
There is usually a deadline behind the call. A registrar at a Sandy Bay group practice is ready to buy in and the partners need a price both sides can accept. A specialist with rooms near the Royal Hobart Hospital is separating, and the property settlement in the Hobart registry of the Federal Circuit and Family Court needs a value for the practice.
Other requests come through the practice's advisers. A lender wants a valuation before funding a second clinic on the eastern shore, or an accountant needs a market value for a restructure or a small business CGT concession that the ATO will accept. Succession is a frequent trigger in a business community as small and family-owned as Hobart's: a retiring principal selling to the doctors who already consult in the rooms.
Having the practice valued before anyone negotiates shows what it would earn if you stopped consulting tomorrow, and that is the figure a buyer is really paying for. It also separates true goodwill from payment for your future sessions, which changes how a price and any tie-in period should be judged.
A certified valuer will listen to your situation and answer any questions you may have, at no cost.
The Income Approach leads. An established practice sees the same patients return for years, and earnings that repeat that reliably are what the income approach is designed to measure.
The usual method is to capitalise future maintainable earnings: one sustainable earnings figure divided by a capitalisation rate, which is the discount rate less long-term growth. Where the next few years will look different from the last few, a discounted cash flow takes over. A Moonah practice bringing a registrar through to partnership, a group opening a satellite clinic in Kingston, or rooms facing a rent review at renewal are changes a DCF can model year by year.
We build the capitalisation rate from its parts rather than picking it: a risk-free rate from long-dated Commonwealth bond yields, premiums for equity risk, size and the industry, and a loading for the practice itself. That loading reflects how much of the billing rests on one or two doctors, how secure the lease is, the bulk-billing mix, how hard a departing doctor would be to replace, and how reliable the records are.
Sales of comparable practices, expressed per full-time-equivalent doctor or per active patient, show whether the income result sits where buyers have actually paid. Closely matched sales are scarcer in a market of Hobart's size, so we also draw on sales elsewhere in Tasmania and in comparable regional markets, adjusted for the differences.
Consulting room fit-out, clinical equipment and any imaging are restated from book value to what they would fetch today. That total is the floor: a practice that is still trading should not be valued below what its assets would realise if sold.
Most of the gap between two valuers' figures for the same practice opens up in normalisation, which is why each adjustment and its reason sits in the body of our report. These are the ones medical practices raise most often:
Specialist medicine in Hobart gathers around the Royal Hobart Hospital in the CBD, with consulting rooms and day procedure clinics in the surrounding streets and in North Hobart. Referrals arrive from the hospital, and rents reflect the location.
General practice spreads much wider. Established multi-doctor clinics serve Sandy Bay, Moonah and Glenorchy, practices are growing in Kingston and on the eastern shore around Bellerive, Rosny Park and Cambridge, and smaller practices look after the Huon Valley and New Norfolk. That spread decides which sales are comparable: specialist rooms near the hospital and a four-doctor clinic in Kingston are both Hobart practices, yet their billing mix, rent, practitioner supply and reliance on one name all differ.
Payroll tax sits across all of it. Whether payments to contracted doctors count as wages under the Payroll Tax Act 2008 (Tas) has been a live question for practices around the country, so we check the State Revenue Office of Tasmania's position at the valuation date instead of assuming it. The way a practice engages its doctors feeds into both its maintainable earnings and the risk loading a buyer applies.
The sector keeps expanding. Health care and social assistance businesses in the national count rose 6.7 per cent in 2025 to 2026, while Tasmania added a net 850 actively trading businesses across all industries, an increase of 1.9 per cent to 45,094 at 30 June 2026 (Source: ABS, Counts of Australian Businesses, July 2022 to June 2026, released 18 August 2026). A larger pool of practices brings more sales evidence, and more buyers for clinics that have several doctors and a lease with years left to run.
The report begins by setting out why the valuation was done, the standard of value, the valuation date and the information we relied on, including any gaps in it. Each approach we considered follows, with the method chosen under it, every normalisation adjustment and its reason, and a reconciliation that turns the results into a range and explains the weighting in plain words.
Under challenge, the reconciliation is what carries the opinion. In a dispute between practice owners in the Supreme Court of Tasmania, expert evidence is governed by Part 19 of the Supreme Court Rules 2000 and the Expert Witness Code of Conduct attached to the court's Practice Direction No 1 of 2016, and an opposing expert will look first for an unexplained choice of approach or multiple. The same scrutiny applies in a family law matter at the Hobart registry of the Federal Circuit and Family Court.
Where doctors practise in partnership without a written exit clause, the Partnership Act 1891 (Tas) can shape what is being valued, and the report says which basis it adopts. Every report follows APESB, APES 225 Valuation Services and is signed by a certified valuer who is prepared to explain the reasoning to the other side's expert or the court.
Ask them which assumption in your practice's valuation is the weakest and how they would defend it in front of another expert. An answer that does not come straight away means the analysis is not finished.
An Indicative valuation gives you a sound internal figure before you answer a buyer's approach or set a registrar's buy-in price. It is for internal decision-making and is not written for third party reliance. A Summary report fits most partner admissions, retirements and finance applications, and a Detailed report is the level for a family law settlement, a dispute between practice owners or any matter where a second expert will test the opinion.
Choose by the reader. The more likely it is that a court, a lender, the ATO or another expert will examine the figure, the fuller the report should be.
For internal decision-making. Useful for testing an offer, setting an expectation before a negotiation, or deciding whether to go to market. It is not written for third party reliance.
Sets out the approaches applied, the normalisation adjustments made and the reasoning behind the conclusion. The usual choice for a sale, an ownership change or a finance application.
Applies and reconciles all relevant approaches in full. The level required where a court, the ATO, a lender or another expert will review the opinion.
Talk your situation through with a certified valuer before you commit to anything, at no cost.