Most ABA agency owners don’t wake up one day and decide to sell. The thought builds slowly: a hard year with payers, a key BCBA leaving, a family milestone, or simply the sense that the agency needs more than one person can give it. Whenever the moment comes, the owners with the most options are the ones who prepared before they needed to.
This checklist is for owners of small and mid-size ABA agencies who are thinking about a sale, a partial sale or a partner, even if it’s a year or more away. None of it commits you to anything. Every item also makes the agency stronger if you decide to keep it.
Why preparing early matters
A buyer is really buying two things: the agency’s results so far, and confidence that those results will continue without surprises. Preparation is how you show both. In our experience, the conversations that go smoothly are the ones where the owner can answer basic questions quickly and back the answers up with clean records.
Preparing early also gives you leverage over timing. An owner who has to sell because of burnout, a cash squeeze or a health issue has fewer choices than one who is ready and can wait for the right fit.
1. Get your financials buyer-ready
Financial records are usually the first thing a serious buyer or partner asks for, and often where small agencies need the most cleanup.
- Monthly financial statements that close on time, with revenue and payroll matched to the right month.
- Personal and one-time expenses separated from the cost of running the agency, with notes explaining anything unusual.
- Revenue by payer, by service line and by location, so someone outside the business can see where the money comes from.
- Accounts receivable by age, with old balances either worked or written off. A large pile of unpaid claims over 90 days raises questions.
- Tax returns that tie to the books. Your CPA should be able to reconcile the two without a long explanation.
If you only track a few numbers, start with the five numbers that decide whether an ABA agency makes money. They’re also the numbers a buyer will look at first.
2. Make the agency less dependent on you
Many small agencies run because the owner holds everything together: payer relationships, hiring, billing questions, family concerns and clinical leadership. That works while you’re there. To a buyer, it’s a risk, because the agency’s results may walk out the door with you.
- Write down the processes that live in your head: intake, scheduling, authorizations, billing follow-up and hiring.
- Build a second layer of leadership, such as a clinical director and an operations or billing lead, who can run the week without you.
- Move payer and vendor relationships so more than one person knows each contact.
- Take a real week off and see what breaks. Whatever breaks is your to-do list.
This is also the single best thing you can do for your own burnout, whether or not you sell.
3. Organize payer contracts, enrollment and credentialing
For an ABA agency, payer relationships are a large part of what a buyer is paying for, so they deserve careful attention early.
- Keep a contract inventory: every payer, the contract or agreement on file, its rates, renewal dates and any assignment or change-of-control language.
- Know the rules for ownership changes. If your agency is enrolled in Medicaid, federal rules require providers to disclose ownership information to the state Medicaid agency, including within 35 days after any change in ownership.1 States, managed care plans and commercial insurers often add their own notice, re-enrollment or re-credentialing steps. Read each agreement and provider manual well before a sale, not after.
- Keep credentialing current for every clinician with every payer, with a simple tracker of start dates, approvals and revalidation dates.
4. Tighten billing, authorizations and documentation
A buyer will want to know that the revenue on your statements is revenue you can keep. That means showing your billing is clean and your processes hold up to review.
- Track every authorization against the hours delivered and billed. Our article on where ABA revenue quietly leaks walks through the gap.
- Review a sample of claims against session notes and authorizations each month, and fix any patterns you find.
- Keep a denial log by payer and reason, and show that repeat causes are being fixed. See our guide to claim denials and cash flow for practical steps.
- Consider an outside billing and documentation review before you go to market. It’s better to find an issue yourself than to have a buyer find it.
5. Stabilize your team
Your BCBAs, RBTs and office staff are the agency. A buyer will ask about turnover, open positions, caseloads and pay. You don’t need perfect numbers, but you should know them and be able to explain them.
- Track turnover and time-to-hire for each role, every month.
- Keep job descriptions, pay ranges and supervision structures written down and consistent.
- Look at caseloads. Sustainable caseloads support both retention and margin, as we cover in caseload design.
- Plan how and when you’ll tell key leaders. Their support during a transition matters a great deal.
6. Protect families’ privacy during due diligence
At some point a serious buyer will want to look at detailed records. Patient privacy rules still apply. The HIPAA Privacy Rule’s definition of health care operations includes the sale, transfer, merger or consolidation of a covered entity with another covered entity, or with an entity that will become one, and due diligence related to it.2 The minimum necessary standard still applies, so disclosures should be limited to what’s needed for the purpose.3
In practice, that usually means sharing summary or de-identified data first, using a confidentiality agreement and a secure data room, and opening detailed records only when they’re truly needed. Your healthcare attorney should guide this step. This article is general information, not legal advice.
7. Decide what you want after the sale
Before talking to anyone, get clear on your own goals. They shape which kind of buyer or partner fits.
- Do you want to step away completely, or stay involved in a clinical, leadership or advisory role?
- Would you sell all of the agency, or a majority stake and keep a share of what comes next?
- What matters most besides price: your team’s jobs, your families’ continuity of care, your agency’s name and culture?
- What is your timeline, and what would make you wait?
Some owners realize they don’t want to sell at all. They want help, capital or a partner so the agency can grow without resting on them alone. That’s a valid answer, and it’s worth knowing before you start a sale process.
How Anchor helps owners prepare to sell, or decide not to
We’ve built and run ABA agencies ourselves, and we work with owners in three ways:
- M&A. Ready to step back? We can buy your agency outright or a majority stake, and keep you involved in a role that fits. Or we help you sell to the right buyer at fair market value. Either way, we protect what you built.
- Partner. For owners who want to keep going with support: capital plus hands-on involvement, with weekly calls and work inside your systems, with your vendors and your team. You run the agency; we help take it to the next level.
- Advisory. On a monthly retainer: a monthly call, help setting up systems and vendors, and a clear read on your numbers. A practical way to work through this checklist before you decide anything.
Read why we partner with established ABA agencies, or see who we are. Every path starts with a confidential conversation about your goals. Contact us here.
Frequently asked questions
How do I prepare my ABA agency for sale?
Start with clean monthly financials, with personal and one-time expenses separated and revenue broken out by payer and location. Then reduce how much the agency depends on you, organize payer contracts and credentialing, tighten billing and authorizations, stabilize your team, and get clear on what you want after the sale.
How early should an ABA agency owner start preparing to sell?
Earlier is better. Preparing a year or more ahead gives you time to clean up records, build a second layer of leadership and fix billing issues, and it means you can choose your timing instead of selling under pressure.
Do I have to notify Medicaid if my ABA agency changes ownership?
Yes. Federal rules (42 CFR 455.104) require Medicaid providers to disclose ownership information to the state Medicaid agency, including within 35 days after any change in ownership. States, managed care plans and commercial insurers often have their own notice, re-enrollment or re-credentialing requirements, so review each agreement early.
Can I share patient records with a buyer during due diligence?
The HIPAA Privacy Rule’s definition of health care operations includes a sale, transfer, merger or consolidation with another covered entity, or an entity that will become one, and related due diligence. The minimum necessary standard still applies, so share summary or de-identified data first and work with a healthcare attorney.
Can I sell part of my ABA agency and stay involved?
Often, yes. Some buyers and partners take a majority stake and keep the owner involved in a role that fits. Anchor Healthcare Partners can buy an agency outright or a majority stake, help an owner sell to the right buyer at fair market value, or partner with owners who want to keep running their agency.
Sources
Rules as published on the dates shown. Federal, state and payer requirements change; check the current source, your payer agreements and your own legal and tax advisors before relying on them.
- Electronic Code of Federal Regulations, 42 CFR 455.104, Disclosure by Medicaid providers and fiscal agents: Information on ownership and control (current as of November 2, 2026).
- Electronic Code of Federal Regulations, 45 CFR 164.501, Definitions (“health care operations”) (current as of November 2, 2026).
- Electronic Code of Federal Regulations, 45 CFR 164.502(b), Standard: Minimum necessary (current as of November 2, 2026).