Prepared for lenders, CDCs, and federal agencies to SBA SOP 50 10 8, USDA RD Instruction 5001, and conventional underwriting standards. Fiduciary duty runs to the lender and the agency, never the borrower. More than 4,000 studies since 1998 covering $40.2 billion in evaluated project value.
Rehabilitation spans outpatient therapy clinics through inpatient rehabilitation hospitals, and the underwriting scales with the setting: outpatient clinics are visit-volume businesses driven by referral relationships and payer authorization patterns, while inpatient rehab adds certification rules, qualifying-condition criteria, and census economics. The study sizes visit or census demand from population utilization and the referral base, prices it through the payer mix with authorization and visit-cap realities stated, and for inpatient settings documents the regulatory classification — the rules that decide which patients the facility may serve and how it is paid.
Visit modeling per therapist at documented productivity standards for outpatient settings, census and length-of-stay modeling under classification criteria for inpatient settings, referral-source concentration analysis, and payer-yield modeling with the authorization friction the category lives with built into the volume curve.
Every Wert-Berater financial model is fully linked with no hardcoded values, so any reviewer can stress any input. Deliverables comprise a complete narrative report and the linked Excel model, with ten-year pro forma, sensitivity analysis at ±5, 10, and 15 percent, interest-rate stress from +0.5 to +3.0 percent, and ratio analysis benchmarked against RMA and IBISWorld data.
SBA engagements are prepared to SOP 50 10 8, including its debt-service-coverage minimums of 1.15x operating and 1.00x global. USDA engagements follow RD Staff Instruction 5001 across the Business & Industry, Community Facilities, REAP, and Value-Added Producer Grant programs. Conventional engagements are built to the lender's stated coverage standard, typically 1.20x. Outpatient clinics fit SBA structures; inpatient rehabilitation facilities route conventional and system-affiliated frameworks; franchise therapy concepts are evaluated on system economics.
The firm's clinical-facility record supplies the census-and-productivity architecture across both settings. Independence is non-negotiable: determinations follow the evidence and are not revised under pressure, and studies are built to pass lender, agency, and third-party review without exception items.
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