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How to Write a Business Plan for a Private Clinic: Complete Guide
- January 3, 2023
Whether you’re looking to raise funding from private investors or to get a loan from a bank (like a SBA loan) for your private clinic, you will need to prepare a solid business plan.
In this article we go through, step-by-step, all the different sections you need in the business plan of your private clinic.
Whether you want to open a primary care or a specialized clinic (e.g. plastic surgery, chiropractor or any other type of medical clinic), use this template to create a complete, clear and solid business plan that get you funded.
1. Executive Summary
The executive summary of a business plan gives a sneak peek of the information about your business plan to lenders and/or investors.
If the information you provide here is not concise, informative, and scannable, potential lenders and investors will lose interest.
Though the executive summary is the first and the most important section, it should normally be the last section you write because it will have the summary of different sections included in the entire plan.
Why do you need a business plan for a private clinic?
The purpose of a business plan is to secure funding through one of the following channels:
- Obtain bank financing or secure a loan from other lenders (such as a SBA loan )
- Obtain private investments from investment funds, angel investors, etc.
- Obtain a public or a private grant
How to write an executive summary for a private clinic?
Provide a precise and high-level summary of every section that you have included in the business plan of your construction business. The information and the data you include in this segment should grab the attention of potential investors and lenders immediately.
Also make sure that the executive summary doesn’t exceed 2 pages in total: it’s supposed to be a summary for investors and lenders who don’t have time to scroll through 40-50 pages, so keep it short and brief.
The executive summary usually consists of 5 major sub-sections:
- Business overview : describe your medical clinic, where it is located, and what type of inpatient or outpatient care you offer. Also, mention the services and treatments you specialize in and the average price per treatment
- Market analysis : a comprehensive market analysis includes details about your market. Provide information about your target audience (children vs. elderly, health conditions, outpatient care trends and preferences, etc.), as well as the market size, growth and competitors.
- People : introduce your construction business’ management and employee structure. Provide a brief (no more than a couple of sentences each) of the knowledge and experience of the team. Also, mention how the company will be structured (management roles and reporting lines)
- Financial plan: how much profit and revenue do you expect in the next 5 years? When will you reach the break-even point and start making profits? You can include here a chart with your key financials (revenue, gross profit, net profit )
- Funding ask : what loan/investment/grant are you seeking? How much do you need? How long will this last?
Medical Clinic Financial Model
All you need to get funded
All you need to get funded: startup costs, profits, breakeven, charts, valuation
Rated 4.8/5 from 5,900+ downloads
2. Medical Clinic Business Overview
In this section, you should explain in simple terms the type of clinic you wish to open. Here are a few questions you may want to answer:
- Where exactly is your medical clinic located? And why did you choose that location?
- What type of medical clinic are you opening (franchise vs. independent)?
- Are you opening a primary care or a specialized health clinic?
- Which medical services will you provide? For whom (what is your target audience)?
- What is the capacity of your private clinic? How many beds? How many doctors/specialists will there be?
- What will be the legal structure of your company (partnership, corporation)?
a) Rationale
Before we jump into the business, it’s always good practice to give an overview of the rationale behind this project. In other words: why did you decide to open such clinic in your area today?
For example, if there are no plastic surgery clinics in the area despite strong market demand, you could come in to fill the existing market gap after conducting a proper market analysis.
b) Business Concept
Now, it’s time to explain your business model. Firstly, business owners can choose between independent practices or franchising.
But that’s not all. You must also decide on the specific type of clinic you want to open. And that’s only possible after answering the following questions;
- Will you specialize in primary care or specialty medicine?
- Is this a franchise or an independent clinic?
- Is this a solo, group or hospital-owned practice?
What are the different types of medical clinics?
Here are a few business models commonly used by medical professionals:
- Solo practice : you will be the main partner of the clinic and have full control. A major pitfall of a solo practice is the high startup costs for leasing the property, purchasing the medical equipment, managing administrative functions and marketing your business
- Group practice : you partner with other physicians or practitioners instead. This business model comes with fewer responsibilities, with well-defined roles for every individual. Also, it provides easy access to capital, lowering the startup and operating costs along the way
- Hospital-owned practice : a medical clinic within the hospital premises. Here, you work with a fixed schedule, getting limited freedom compared to a solo practice. But the upside is that you can capitalize on the hospital’s resources, making it easier to establish your practice and market it to your target audience.
c) Treatments and Services
In addition to the business model of your clinic, let’s now take a look at the services and treatments you offer.
For example, a plastic surgery clinic with reconstructive procedures could offer the following treatments:
- Head/face/eyes (Facelift, forehead lift, eyelid lift, ear pinning, hair replacement surgery, nasal surgery, nose reshaping, etc.)
- Mouth and teeth (oral surgery)
- Breasts (Breast augmentation, breast reconstruction, breast reduction, breast lift)
- Abdomen (Liposuction, tummy tuck, etc.)
- Hand and upper limb
- Skin (Chemical peel, vein removal, scar revision, tattoo removal, dermaplaning, laser skin resurfacing)
d) Pricing Strategy
Lenders and investors will want to see your pricing strategy. We recommend you create a summary table with the main services you offer as well as their prices.
You can start by determining the average cost of similar medical services in your area before making your pricing list.
When creating your pricing structure, consider the necessary elements, like the local regulations and whether most consumers rely on insurance bodies to cover their medical expenses or fund them from their pockets.
e) Legal Structure
Finally, your business overview section should specify what type of business structure you want. Is this a corporation or a partnership (LLC)? Who are the investors? How much equity percentage do they own? Is there a Board of Directors? If so, whom? Do they have experience in the industry?
3. Medical Clinic Market Overview
One of the most important steps when writing a medical clinic’s business plan is understanding the market you’re in. Try to address here the following questions:
- Industry size & growth : how big is the industry in your area? What is its growth/decline rate, and what factors contribute to its growth/decline in the region?
- Competition overview : how many competitors are there? How do they compare vs. your business? How can you differentiate yourself from them?
- Customer analysis : who is your target market? What type of inpatient and/or outpatient treatments do they need?
a) Medical Industry Size & Growth
The cosmetic surgery industry was worth $20.1 billion in 2022 (+2.3% CAGR from 2017-22).
In total, there were 22.4 million procedures in 2019: that’s an average price per procedure of around $900.
In terms of plastic surgeons, there were approximately 7,000 in the US in 2020 .
b) Competition Overview
In addition to an overview of the market size, you should also describe who are your competitors in the area where you plan to open your clinic.
Find useful information about your competitors’ biggest strengths and weaknesses, products and services, and marketing strategies.
For example, create a summary table that compares your competitors’ treatments, marketing strategies, pricing ranges, target audience, etc.
c) Customer Analysis
Finally, take some time to understand your target audience. Here are a few elements you must look into:
- What is the average spend per capita on medical procedures (for example plastic surgery)?
- How often do people need such treatments?
- The most sought-after treatments
- What’s the average price of a treatment / service?
4. Sales & Marketing
The next section of your medical clinic’s business plan should outline your customer acquisition strategy. Start by answering the following questions:
- What are the different marketing strategies you will use?
- What are your unique selling points (USPs)?
- How will you track the success of your marketing strategy?
- What is your customer acquisition cost (CAC)?
- What is your marketing budget?
- Will you consider any offers or promotions to attract new clients?
What marketing channels do private clinics use?
A few marketing channels used by clinics include;
- Content marketing on social media and blogs
- Email, SMS marketing
- Online local listing (Google Business)
- Word-of-mouth advertisement, recommendations
- PPC ads, Facebook ads, etc.
5. Management & People
You must address two things here:
- The management team and their experience / track record
- The organizational structure : different team members and who reports to whom?
Small businesses often fail because of managerial weaknesses. Thus, having a strong management team is vital. Highlight the experience and education of senior managers that you intend to hire to oversee your private clinic.
For the partners of the clinic, describe their duties, responsibilities, and roles. Also, highlight their previous experience and track record.
For the receptionists, personal assistants, office managers, medical assistants, etc. no need to go into a lot of detail, especially as it’s likely you won’t have hired them yet before you get the funding you need, which is the objective of this business plan.
Organization Structure
Even if you haven’t already hired anyone yet, you must provide a chart of the organizational structure defining the hierarchy of reporting.
6. Financial Plan
The financial plan is perhaps, with the executive summary, the most important section of any business plan for a private clinic.
Indeed, a solid financial plan tells lenders that your business is viable and can repay the loan you need from them. If you’re looking to raise equity from private investors, a solid financial plan will prove them your private clinic is an attractive investment.
There should be 2 sections to your financial plan section:
- The startup costs of your private clinic
- The 5-year financial projections
a) Startup Costs
Before we expand on 5-year financial projections in the following section, it’s always best practice to start with listing the startup costs of your project. For a private clinic, startup costs are all the expenses you incur before you open your clinic.
These expenses typically are: the lease for the space, the renovation costs, the equipment and furniture.
Logically, the startup costs vary depending on the size of your clinic, the treatments you will offer (and therefore the equipment you need), the quality of the equipment and furniture, whether you buy the real estate or rent a commercial space, etc.
b) Financial Projections
In addition to startup costs, you will now need to build a solid 5-year financial model for your private clinic. Your financial projections should be built using a spreadsheet (e.g. Excel or Google Sheets) and presented in the form of tables and charts.
As usual, keep it concise here and save details (for example detailed financial statements, financial metrics, key assumptions used for the projections) for the appendix instead.
Your financial projections should answer at least the following questions:
- How much revenue do you expect to generate over the next 5 years?
- When do you expect to break even?
- How much cash will you burn until you get there?
- What’s the impact of a change in pricing (say 15%) on your margins?
- What is your average customer acquisition cost?
You should include here your 3 financial statements (income statement, balance sheet and cash flow statement). This means you must forecast:
- The number of patients you can receive in a day or week;
- The number of procedures you can perform ;
- Your expected revenue ;
- Operating costs to run the business ;
- Any other cash flow items (e.g. capex, debt repayment, etc.).
When projecting your revenue, make sure to sensitize pricing (prices of treatments and services) and your sales volume (number of customers). Indeed, a small change in these assumptions may have a significant impact on your revenues and profits.
7. Use of Funds
This is the last section of the business plan of your private clinic. Now that we have explained what your private clinic’s business model and services are, your marketing strategy, etc., this section must now answer the following questions:
- How much funding do you need?
- What financial instrument(s) do you need: is this equity or debt, or even a free-money public grant?
- How long will this funding last?
- Where else does the money come from? If you apply for a SBA loan for example, where does the other part of the investment come from (your own capital, private investors?)
If you raise debt:
- What percentage of the total funding the loan represents?
- What is the corresponding Debt Service Coverage Ratio ?
If you raise equity
- What percentage ownership are you selling as part of this funding round?
- What is the corresponding valuation of your business?
Use of Funds
Any private clinic business plan should include a clear use of funds section. This is where you explain how the money will be spent.
Will you spend most of the loan / investment in paying your employees’ salaries? Or will it cover mostly the cost for the lease deposit for the space, the renovation and equipment?
For the use of funds, we also recommend using a pie chart like the one we have in our financial model template where we outline the main expenses categories as shown below.
Privacy Overview
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What do you get when you take your dedication to helping people and combine it with a good business plan? Success! Here's a collection of sample business plans for medical practices, dental offices, and clinics, that should help you on your way.
If you’re looking to develop a more modern business plan, we recommend you try LivePlan . It contains the same templates and information you see here, but with additional guidance to help you develop the perfect plan.
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Medical Clinic Business Plan Sample
OCT.12, 2016
Introduction
The demand for health care is constant in spite of changes in the economy across the globe. Starting a professional clinic will help promote the health and wellness of the community that you live. You also get the opportunity to make money doing what you love, providing quality health care services
To ensure that your plan succeeds, you need to hire a professional to write your business plan for a medical clinic . OGS Capital is a reputed company that specializes in providing medical clinic business plan writing services. Our professionals have vast hands-on experience and are members of professional bodies, so you can be sure that you will get value for the money and time that you invest in this project.
Plan Summary
The plan summary is also referred to as an abstract. It should be placed at the start of the medical clinic business plan to give readers an idea of the clinic that you intend to establish even before they start perusing through the other pages.
It Is imperative to make sure that all facts that you include in this section are factual to paint a positive image to the target audience. Some of the details of your clinic that you should include in this section are clinic’s name, mission statement, and objectives.
Our team will help you create this section to give your business plan for a medical clinic an upper hand when you present it to potential investors . We will also give you additional facts to enable you set up the clinic successfully.
This includes;
- How to market your health care services
- How to hire employees
- How to build and retain your credibility and reputation
In certain businesses, the location is critical and to some extent this applies to a medical clinic. Easy access to the clinic is important, so being close to main highways is a consideration.
Car parking facilities for your clients and visitors will also need to be considered. This could be part of the business or a nearby private car park.
Another important consideration is visibility. Your medical center can act as a superb billboard in the right location.
Your business plan for a medical clinic should cover all these points and more.
Competitive Analysis
Health is a growing business and there are plenty of competitors. Your medical clinic business plan should describe your closet competitors and why they are successful.
The plan will also explain what your business will do differently to stand out from the competition. One easy way of doing this is by using a competitor matrix. Make a list of competitors and then columns for attributes. This is an easy way to compare your business to the competitors.
Business Structure
The business plan for a medical clinic needs to describe how your business is structured from the top down. If it’s an existing business, include a brief history of the company.
You should also describe the legal structure and ownership of your company, whether sole-trader, partnership or limited company.
You may also need to include information on the mission statement, intellectual property and the business location.
Marketing Strategy
Your marketing plan needs to consider several topics, including where your business is positioned in the market, your pricing structure and how you plan to promote the business.
Is the business focussed on offering value for money or is it aimed at the high-end of the market. There are many pricing strategies, and your medical clinic business plan pdf should identify which strategy you intend to implement and why.
Using our medical clinic business plan template , describe the products and services your business will offer.
How do your planned products and services meet the needs of your target market. Do your competitors offer similar products, and if so, why will your business stand out?
In the medical business there is constant change, so include how your medical clinic business plan will plan to find and offer new products and services.
The key members of the management team should be identified and their role described. This should also include details of why they are suitable for that particular role. Don’t forget to identify other important members of your team.
You can include brief bios with details of their experience and education.
Using our free sample business plan for a medical clinic to guide you.
Financial plan
The financial plan provides precise details on how you will get the capital to start the clinic. The financial plan also goes the extra mile to highlight how the money will be spent.
It is important to make sure that the plan is accurate as simple mistakes could cost your potential business investors. Our financial experts will work on this section to ensure that the medical clinic business plan is foolproof and capable of starting and safeguarding it from financial challenges down the road.
Registration Process
There are regulations that govern establishing of health care clinics. You need to adhere and follow the stipulated processes to get all the necessary accreditation documents.
The investors need to know that you have what it takes to start a health clinic, and so it is imperative to provide details of how you intend to complete the registration process.
We have professional business plan writers in the health care sector that can help you understand the registration process to overcome the challenges along the way. Our medical practice business plan template will ensure you produce the perfect medical clinic business plan .
How to order writing business plan medical clinic
Get in touch with us today for more details on how we can write a medical clinic business plan example for you by filling the contact us form. We look forward to working on your medical clinic business plan .
Download Clinic Business Plan Sample in pdf
Professional OGS capital writers specialized also in themes such as dental practice business plan , wellness business plan , senior center business plan , reiki practice business plan , pharmacy business plans , occupational therapy business plan and many others.
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than €1.5 billion in funding, and they can do the same for you.
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How to Write a Business Plan for Medical Practice
Last updated: 04 / 08 / 22
You learn a lot in medical school, but business planning isn’t a focus. However, many health care practitioners go on to run their own businesses where developing a business plan becomes essential.
If you’re planning to start your own practice, or you’re taking over someone else’s medical business and want to run it effectively, it’s a good idea to spend some time working out the details and putting together a formalised plan first. You may also want to get professional advice on your business planning, and any other aspects of running your medical practice you’re not sure about. In the meantime here are a few business planning basics to get you started.
Why have a business plan for your medical practice?
While it can be tempting to just dive right in and start setting up your new medical practice, a business plan can help you get prepared and make sure you stay on the right track as your practice grows.
A solid business plan is the foundation of any successful medical practice. With a business plan you can identify potential issues upfront and devise a strategy to avoid them. You can also set realistic goals for your business to help you keep moving in the right direction. If you’re looking for funding at any stage, you’ll also need to have a business plan. Most medical practices will struggle to get a business loan without a solid business plan in place.
What to include in your medical practice business plan
Your business plan should include the following:
- A summary of your business, including the medical services you provide, your location, and the history of the business.
- Financial information including projected cash flow, outgoings like medical equipment, marketing and practice management software costs and projected turnover.
- Operational factors like trading hours, fees, staffing and potential suppliers
- Risk identification and management – details of how you will manage the biggest potential risks, e.g. malpractice insurance, other insurances, data security and your credentialing process.
- Marketing – how you will get new patients and retain the existing ones.
As well as all the information about your medical practice and strategy, it’s also important to set goals and targets for your new venture. These should be in your business plan so you can keep track of them and make sure you’re working towards them consistently.
Making sure you have a solid business plan
So how do you make sure your medical practice business plan is solid? It’s very easy to have your plan in your head, but if you don’t get it out, it’s going to be hard for anyone else, especially the other providers and support staff in your practice to implement it. So the first step is to put it down on paper, or in a word document.
Once you’ve got a detailed plan on paper, don’t just put it in a drawer and leave it. Business planning should be a regular task for you and your business partners. Once you have your business plan in place, make sure you review it at least once a year, preferably more and update it as your business priorities change.
Writing a business plan for your medical practice might seem like a time consuming task, but it’s well worth the effort. With a strong business plan, you can grow your practice, achieve your goals and avoid many of the pitfalls that can trip up practice owners who haven’t taken the time to plan ahead.
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Home » Business ideas » Healthcare & Medical » Hospital & Clinic
Medical Clinic and Practice Business Plan [Sample Template for 2023]
Are you about starting a medical clinic and practice? If YES, here is a complete sample medical clinic and practice business plan template & feasibility report you can use for FREE .
Okay, so we have considered all the requirements for starting a medical clinic and practice company . We also took it further by analyzing and drafting a sample medical clinic and practice marketing plan template backed up by actionable guerrilla marketing ideas for medical clinic and practice companies. So let’s proceed to the business planning section .
All over the world, the medical industry is one of the most revered industries. As a medical doctor or a player in the healthcare industry, if you are interested in starting a business in this industry and you don’t have the financial requirements to start a standard hospital, then you should opt for a medical clinic and practice business.
It is imperative to note that any healthcare related business requires that you should first look at the existing laws in the country or the state you reside before starting the business.
This is so because there is hardly any country that does not pay serious attention on their healthcare sector. Healthcare related businesses are usually highly regulated to guard against the infiltration of quacks or substandard medical clinics, hospitals or health facilities.
In essence, if you want to start your own medical clinic and practice business, then you would need to pay a visit to the health and medical regulatory body in your country to get all the required information before you can legally start your own medical practice .
So, if you are enthusiastic about starting your own medical clinic, then you should ensure that you carry out thorough feasibility studies and market survey. Business plan is yet another very important business document that you should not take for granted when launching your own medical clinic and practice business.
Below is a sample medical clinic and practice business plan template that can help you to successfully write your own with little or no difficulty.
A Sample Medical Clinic Business Plan Template
Table of Content
1. Industry Overview
3. our products and services, 4. our mission and vision statement, 5. job roles and responsibilities, 6. swot analysis, 8. our target market, 9. sales and marketing strategy, 10. sales forecast, 11. publicity and advertising strategy, 12. our pricing strategy, 14. sustainability and expansion strategy.
The hospital and healthcare industry that medical clinic and practice business is a subset of, is perhaps one of the fastest growing and largest industries in the world because the wealth of any nation depends on the health of the nation.
There is hardly any country where the health care and medical industry is not handled with all seriousness. As a matter of fact, the healthcare industry is known to gulp over 10 percent of gross domestic product (GDP) of most developed countries.
A healthcare provider is a health professional such as nurse or doctor et al or an establishment such as a hospital or a medical clinic or a healthcare center/facility that provides preventive, curative, promotional, rehabilitative or palliative healthcare/medical services in a systematic way to individuals, families or communities.
The hospital and healthcare industry comprise of operators who are licensed as general medical and surgical hospitals that provide surgical, nonsurgical diagnostic and medical treatment to inpatients with medical conditions. In general, medic clinics maintain inpatient beds and usually provide other services such as outpatient services, operating room services and pharmacy services.
There is indeed a very large market for healthcare service providers in the united states and of course in most parts of the world.
For instance, the World Health Organization (W.H.O) estimated that there are about 9.2 million physicians, 19.4 million nurses and midwives, 1.9 million dentists and other dentistry personnel, 2.6 million pharmacists and other pharmaceutical personnel, and over 1.3 million community health workers worldwide. This goes to show that the health care industry is indeed one of the largest segments of the workforce of any nation.
It is on record that in 2011, healthcare costs paid to hospitals, physicians, nursing homes , diagnostic laboratories, pharmacies, medical device manufacturers and other players in the healthcare system business value chain, consumed an estimated value of 17.9 percent of the Gross Domestic Product (GDP) of the United States.
This indeed is the largest of any country in the world. As a matter of fact, experts project that the healthcare share of the GDP of the United States will continue to grow, reaching 19.6 percent of GDP by 2016. The hospital and healthcare industry is indeed a very massive industry in the U.S. Statistics has it that in the United States of America, the industry is worth $986bn, with an estimated growth rate of 3.4 percent.
There are about 3,184 registered and licensed hospital and medical clinic businesses in the United States and they are responsible for employing about 5,513,669 people that comprise of doctors, nurses, pharmacists, dentists, opticians, surgeons and other health and non-health workers.
It is important to state that there is no medical clinic with a lion share of the available market in the United States. If you are considering starting your own medical clinic and practice business in the United States, then you should try and work around the industry barriers.
The truth is that the barriers to entry in the hospital and healthcare industry are high because of the significant regulatory requirements and the experience and strength of incumbents.
It is absolutely compulsory for any investor who is looking towards starting a medical business to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures.
Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.
Some of the factors that encourage entrepreneurs to start their own medical clinic and practice is that the business can easily get support from government at all level and the business is indeed a profitable venture despite the legislature governing the industry.
If you are determined and you are ready to go all the way, you will surely succeed in establishing your medical practice in the United States of America and you will be glad you did because it is indeed a profitable line of business.
2. Executive Summary
Borger Jasper Memorial® Medical Clinic, LLC is a standard, licensed and government approved healthcare services provider that will be located in the heart of Miami Beach, Florida – United States of America. We have been able to acquire a standard corner piece facility that is highly suitable for the kind of medical clinic we want to operate.
Borger Jasper Memorial® Medical Clinic, LLC is in the hospital and healthcare industry to provide health care services like inpatient care, outpatient care, anatomical pathology services, diagnostic X-ray services, clinical laboratory services, operating room services and other medical services and practice.
We are well trained and equipped to service the market segments that require the healthcare services we will be offering. We are in the medical clinic and practice business to deliver excellent healthcare services to all those who will patronize our medical clinic.
We will also ensure that we will comply with the laws and health regulations in Florida and the United States of America. Our employees are well trained and qualified to handle the wide range of health care services.
Borger Jasper Memorial® Medical Clinic, LLC will operate a 24 hours, 7 days a week medical clinic and practice service; our medical clinic will be opened round the clock to attend to patients. We have a standard call center that is manned by trained health workers.
Our employees are going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our patients.
Borger Jasper Memorial® Medical Clinic, LLC will ensure that all our patients are given first class treatment whenever they visit our clinic. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the number of our customer base grows.
Borger Jasper Memorial® Medical Clinic, LLC is a family business that is owned and managed by Dr. Borger Jasper and his immediate family members.
Dr. Borger Jasper is going to be the Medical Director (Chief Executive Officer) of the medical clinic. He is a qualified and well trained Medical Doctor who has over 15 years’ experience working as a medical doctor and medical researcher with the United States’ government.
Borger Jasper Memorial® Medical Clinic, LLC is in the medical clinic and practice business of ensuring that our patients are well taken care of and our services will be carried out by highly trained professional doctors, dentists, surgeons, opticians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists and other health and non – health workers, who know what it takes to give our patients value for their money.
These are the health care services that Borger Jasper Memorial® Medical Clinic, LLC will be offering;
- Inpatient care
- Outpatient care
- Anatomical pathology services
- Diagnostic X-ray services
- Clinical laboratory services
- Operating room services
- Occupational, Physical, and Speech Therapy
- Personal Injury Case Management
- Our vision is to become the number one choice when it comes to healthcare service delivery in the whole of Florida and also to be amongst the top 10 medical clinics in the United States of America within the next 10 years.
- Borger Jasper Memorial® Medical Clinic, LLC is in business is to establish a first class medical clinic that will take care of both highly placed clients and lowly placed clients as long as they can afford our services. We want to become one of the leaders in the hospital cum health care services industry in Florida, and in the United States of America.
Our Business Structure
Borger Jasper Memorial® Medical Clinic, LLC is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (doctors, dentists, surgeons, opticians, nurses, nurse’s aides, chiropractors, medication management counselors, physical therapists and other health and non – health workers) to man various job positions in our organization.
We are quite aware of the rules and regulations governing the hospital cum health care industry which is why we have decided to recruit only experienced and qualified employees as staff of the organization. We hope to leverage on their expertise to build our medical clinic and practice business to be well accepted in Florida and the whole of the United States.
When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all our stakeholders. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more.
These are the positions that will be available at Borger Jasper Memorial® Medical Clinic, LLC;
- Chief Medical Director/Chief Executive Officer
Nurses/Nurse’s Aides
- Information Technologist (Contract)
- Admin and Human Resources Manager
- Sales and Marketing Executive
Accountant/Cashier
- Customer Care Executive
Chief Medical Director/Chief Executive Officer:
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy
- Attends to high profile clients and severe medical cases
- Accountable for fixing prices and signing business deals
- Responsible for payment of salaries
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
- Responsible for providing professional medical services to our patients
- Responsible for offering occupational, physical, and speech therapy
- Responsible for handling medical emergencies
- Responsible for managing the daily activities in the dispensary store
- Provide advice about medications in response to customer inquiries
- In control of processing prescriptions and dispensing medication
- Responsible for ordering, selling and controlling medicines and other stock
- Handles any other duty as assigned by the Medical Director
- Responsible for managing our patients
- Handles personal injury case management
- Responsible for offering medication management services
- Assist the doctors in treating patients
Sales and Marketing Manager
- Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer
- Writing winning proposal documents, negotiate fees and rates in line with organizations’ policy
- Responsible for handling business research, market surveys and feasibility studies for clients
- Develops, executes and evaluates new plans for expanding sales
- Creates new markets cum businesses for the organization
- Empowers and motivates the sales team to meet and surpass agreed targets
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensuring compliance with taxation legislation
- Handles all financial transactions for Borger Jasper Memorial® Medical Clinic, LLC
- Serves as internal auditor for Borger Jasper Memorial® Medical Clinic, LLC.
Client Service Executive
- Welcomes clients and potential clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients provide the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the creative director in an effective and timely manner
- Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Responsible for cleaning the medical clinic facility at all times
- Ensure that toiletries and supplies don’t run out of stock
- Handle any other duty as assigned by the admin and HR manager
Borger Jasper Memorial® Medical Clinic, LLC is set to become one of the leading medical cum healthcare service providers in Florida which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business.
We want our medical clinic to be the number one choice of all residents of Miami and other cities in Florida. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.
Even though our Chief Medical Director has robust experience in health management services, public health and medical research, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support to structure our business to become a leader in the hospital and health care industry.
This is the summary of the SWOT analysis that was conducted for Borger Jasper Memorial® Medical Clinic, LLC;
Our strength lies in the fact that we have a team of well qualified healthcare professionals manning various job positions in our medical clinic.
As a matter of fact, they are some of the best hands in the whole of Miami Florida. Our location, the Business model we will be operating on, opening 24 hours daily and 7 days in a week, multiple payment options, well equipped medical call center and our excellent customer service culture will definitely count as a strong strength for us.
Our perceived weakness lies in the fact that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business and also to acquire some of the latest medical and surgical equipment.
- Opportunities:
The opportunities that are available to medical clinics cum healthcare service providers are unlimited considering the fact that medical clinics are not only meant for those who are sick and need treatment; people who are not sick may be required to conduct routine medical checkups from time to time and we are going to position our medical clinic to make the best out of the opportunities that will be available to us in Florida.
Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies . Another threat that may likely confront us is the arrival of a bigger medical clinic or hospital or healthcare brand in the same location where our medical clinic is located.
7. MARKET ANALYSIS
- Market Trends
The hospital cum health care industry is indeed a thriving and dynamic industry; with the aid of technology, it is becoming easier to treat, manage and cure some ailments that before now are not easy to handle. No doubt there are many ways of providing healthcare services in this changing era since the place of delivery may be in the patient’s home, the community, the workplace, or in health facilities.
The hospital cum healthcare industry has recently begun consolidating, largely due to the pressures of healthcare reform. The truth is that the demand for hospital cum health care services has steadily grown over the last five years, as healthcare reform legislation broadened insurance coverage.
As an investor in the hospital cum health care industry, in order to maintain an advantaged position in this competitive industry, you should source for the most skilled and specialized healthcare professionals.
One thing about this industry is that labor costs are on the high side. However, medical clinics have also faced nurse and physician shortages and have struggled to recruit qualified personnel. Industry profitability has generally risen over the past five years due to increases in service prices.
No doubt the home healthcare industry will continue to grow and become more profitable because the aging baby-boomer generation in the United States are expected to drive demand for health care services.
Borger Jasper Memorial® Medical Clinic, LLC is in business to service a wide range of customers in Miami Beach, Florida – United States of America and other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.
We will ensure that we target both customers who do not have health insurance cover, and those who have health insurance cover. The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the hospital and health care industry in the United States.
Our staff are well – trained to effectively service our customers and give them value for their monies. Our customers can be categorized into the following;
- The whole residents within the area where our medical clinic is located
- Expectant Mothers
- Injured Sports Men and Women
- Corporate organizations such as banks, insurance companies, manufacturing companies, oil and gas companies et al
- Health Management Organizations (HMOs)
Our Competitive Advantage
Aside from the competitions that exist amongst various medical clinics, they also compete against other healthcare services providers such as home health care services providers, health centers and standard hospitals et al.
To be highly competitive in the hospital cum healthcare industry means that you should be able to deliver quality patient service and should be able to meet the expectations of your patients at all times; they should experience improvement in their health when they patronize your medical clinic.
Borger Jasper Memorial® Medical Clinic, LLC is coming into the market well prepared to compete in the industry. Our medical clinic facility is well positioned and visible, we have enough parking space with good security. Our staff are well groomed in all aspects of healthcare service delivery.
Our services will be carried out by highly trained professionals (doctors, dentists, surgeons, opticians, nurses, nurse’s aides, chiropractors, medication management counselors, physical therapists and other health and non – health workers) who know what it takes to give our patients value for their money.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
- Sources of Income
Borger Jasper Memorial® Medical Clinic, LLC will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Borger Jasper Memorial® Medical Clinic, LLC;
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
We have been able to critically examine the health care market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to similar startups in Miami – Florida.
- First Year: $100,000 (From Self-Pay Clients/Patients) and $250,000 (From Health Insurance Companies)
- Second Year: $250,000 (From Self-Pay Clients/Patients) and $500,000 (From Health Insurance Companies)
- Third Year: $500,000 (From Self-Pay Clients/Patients) and $1,500,000 (From Health Insurance Companies)
N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
The marketing and sales strategy of Borger Jasper Memorial® Medical Clinic, LLC will be based on generating long-term personalized relationships with our customers. In order to achieve that, we will ensure that we offer all – round health care services at affordable prices compared to what is obtainable in Florida.
We know that if we are consistent in offering high quality health care service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.
Before choosing a location for our medical clinic and medical practice, we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of Miami Beach, Florida and other cities in the United States where our services will be available.
We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the hospital cum health care industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Florida. In summary, Borger Jasper Memorial® Medical Clinic, LLC Services will adopt the following sales and marketing approach to win customers over;
- Introduce our medical clinic by sending introductory letters to residents, business owners and corporate organizations
- Advertise our medical clinic and practice in community based newspapers, local TV and radio stations
- List our medical clinic and practice on yellow pages ads (local directories)
- Leverage on the internet to promote our medical clinic and practice
- Engage in direct marketing
- Leverage on word of mouth marketing (referrals)
- Enter into business partnership with health management organizations, government agencies and health insurance companies
We are in the medical clinic and practice business to become one of the market leaders and also to maximize profits hence we are going to explore all available means to promote our medical clinic. Borger Jasper Memorial® Medical Clinic, LLC has a long – term plan of opening medical clinics in key cities around Florida which is why we will deliberately build our brand to be well accepted in Miami Beach before venturing out.
As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Borger Jasper Memorial® Medical Clinic, LLC;
- Place adverts on both print and electronic media platforms
- Sponsor relevant community health programs
- Leverage on the internet and social media platforms like Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Miami Beach Florida
- Engage in roadshows from time to time
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles and ambulances are well branded with our company’s logo et al.
Borger Jasper Memorial® Medical Clinic, LLC will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.
On the average, hospitals and health care service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for hospitals and health care service providers to bill their clients based in their discretion.
In some cases, hospitals and health care service providers also adopt the hourly billing cum per visit billing method. It is easier and preferable for medical clinic and healthcare services providers to bill personal injury case management services by the hour as against a fixed price.
- Payment Options
The payment policy adopted by Borger Jasper Memorial® Medical Clinic, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Borger Jasper Memorial® Medical Clinic, LLC will make available to her clients;
- Payment via bank transfer
- Payment via credit cards
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
If you are looking towards starting a medical clinic, then you should ensure that you raise enough capital to cover some of the basic expenditures that you are going to incur. The truth is that starting this type of business does not come cheap.
You would need money to secure a standard medical clinic facility, acquire medical equipment and supply , pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them. Also it is expensive to acquire a standard and well – equipped ambulance.
The items listed below are the basics that we would need when starting our medical clinic in the United States, although costs might vary slightly.
- The total fee for registering the Business in the United States – $750
- Legal expenses for obtaining licenses and permits – $1,500
- Marketing promotion expenses for the grand opening of Borger Jasper Memorial® Medical Clinic, LLC – $3,580
- Cost for hiring Business Consultant – $2,500
- Cost for computer software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
- Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400
- Cost for payment of rent for 12 months at $1.76 per square feet in the total amount of – $105,600
- Cost for clinic remodeling – $20,000
- Other start-up expenses including phone and utility deposits – ( $2,500 )
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $500,000
- The cost for startup inventory (stocking with a wide range of products) – $150,000
- Storage hardware (bins, rack, shelves,) – $10,720
- Cost for Drugs and Supplies (Injections, Bandages, Scissors, et al) – $3,000
- Cost for medical equipment – $300,000
- Cost of purchase of ambulance and other vehicles – $100,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al) – $4,000
- The cost of launching a website – $700
- Miscellaneous – $10,000
We would need an estimate of $1.2 million to successfully set up our medical clinic and practice business in Miami Beach – Florida.
Generating Startup Capital for Borger Jasper Memorial® Medical Clinic, LLC
Borger Jasper Memorial® Medical Clinic, LLC is a private business that will be owned and managed by Dr. Borger Jasper Jnr. and his immediate family members.
They are the financier of the business, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources. These are the areas we intend generating our startup capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from the bank
N.B: We have been able to generate about $500,000 (Personal savings $300,000 and soft loan from family members $200,000) and we are at the final stages of obtaining a loan facility of $700,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
The future of a business lies in the number of loyal customers they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.
One of our major goals of starting Borger Jasper Memorial® Medical Clinic, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our health care services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Borger Jasper Memorial® Medical Clinic, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our organizations’ corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and remodeling the facility: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of Medical Equipment and Ambulances et al: In Progress
- Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party/launching party planning: In Progress
- Compilation of list of products that will be available in our pharmacy store: Completed
- Establishing business relationship with Private medical insurance companies, Medicare and Medicaid, vendors (wholesale pharmaceutical companies): In Progress
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Medical Clinic Business Plan Template
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INSERT IMAGE/LOGO [YOUR NAME] [YOUR COMPANY NAME]] [YOUR ADDRESS] [YOUR CITY], [YOUR STATE/PROVINCE] [YOUR ZIP/POSTAL CODE] [[email protected]] [YOUR PHONE NUMBER] INSERT MOTTO
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Opening a Medical Center?
How to write a medical center business plan (fast), step by step (actionable) case study.
Writing a Medical Center business plan is no easy task – especially because of the amount of details involved.
You need to consider location, equipment, employment of specialist staff, as well as setting the goals for operating and growing the center and considering finances and information technology.
It’s a lot to think about!
This is why we’ve put together a Medical Center Business Plan – to give you ideas, tips and inspiration that will help you with your business plan.
Ready? Let’s do this.
#1 Executive Summary for a Medical Center Business Plan
The Executive Summary section of your business plan outlines what your business does. It summarizes the company’s key points and introduces the rest of your business plan’s content.
As this is a huge project, the main aim of this plan is to convince either your bank or an investor to invest in your business by providing start-up capital.
It’s vital that you provide a solid case for your business idea – which is why your executive summary is so important!
For the purpose of this medical center business plan, we’ve included the following:
Current Position
Mission statement, investment offer, exit strategy.
- Health Profile & the fact that it is a growing problem
Check it out and feel free to lift anything you want.
Executive Summary
The purpose of this proposal is to lay out our plans for the Africa Medical Center and to attract investment for the development and implementation of the facility. This document is open to review and amendments as the project plans develop.
Thanks to the advances in medicine, and the evolving healthcare system in Africa, more and more people are recovering from life threatening illnesses and injuries than ever before.
However, aftercare services for rehabilitating and recovering patients are severely lacking and this gap in the country’s healthcare system needs to be addressed quickly. At present, patients have to arrange their own aftercare treatment, often flying long distances, at great cost, to other countries.
It is our plan to open the very first rehabilitation Center of its kind in Africa. We want to offer local, high-quality day care and outpatient services to those in the immediate region and beyond.
We are looking to raise $3m in capital investment to cover land procurements and development costs.
The Africa Medical Center will offer client-focused rehabilitative care in Africa, with a view to expanding across the country in the future. Our facility will offer 40 beds and various treatment and procedure rooms, and will be subject to further expansion in the future.
Our services will include, but will not be limited to:
- Rehabilitation therapies (physiotherapy, hydrotherapy…)
- Cancer care
- Elective surgery
- Elderly care
- Speech and language therapy
We plan to operate on a referral system, receiving patients from hospitals in the region and beyond, insurance companies, clinics, private bookings and through consultants working within the hospital. Patients can also book into the hospital themselves.
Revenue will be generated directly through patient care services and through consultant charges and fees, and this is explained further in the document.
Our eight-year plan is to develop a fully established and equipped hospital offering A&E and an intensive care unit and wards.
The Executive Summary outlines what your business does, summarizes your key points, and prepares investors for the rest of your #businessplan. It’s vital you provide a solid case for your business idea, which is why your #executive #summary is so important! Tweet
We are currently in the research stages of the project, and looking into various locations including Area 1 and Area 2 as potential development sites. Research is also being carried out on the procurement of equipment and supplies. We have a number of investors interested in financing the project and we will also be approaching the African Government and international funding organizations for financial assistance through grants and incentives. Licenses to operate will also be required and this is another area we are in the process of researching.
The mission of the Medical Clinic will be to provide high quality health services and facilities within the community and to promote wellness to relieve suffering, and to restore health as swiftly and completely as possible.
Doctor Henry’s background is in physiotherapy and he has worked with the NHS for several years. It was on a recent trip back to Africa that he realized there are no dedicated rehabilitation facilities available in the country.
As mentioned previously, patients have to travel elsewhere to receive the treatment and aftercare they require. This presents further risks to their health due to the extensive journeys and relatively cramped conditions.
It is therefore our vision to build and develop a world class medical facility offering outstanding care whilst also excelling in research, development and medical innovation. Proactive teams from multiple disciplines will ensure we can offer the widest range of services and treatment plans to our patients.
The rehabilitation center will ultimately serve the local community and beyond to improve people’s lives, increase positivity in each patient and enhance their wellbeing and lifestyle.
To get the project up and running, we will be looking for an investment of $3m USD. The land will cost approximately $400K with building costs estimated to cost approximately $1m USD. In addition to private investment, we are also in the process of approaching the African Government for grants and exemptions. More information is provided further in this document.
It is our goal to become the leading rehabilitation center in the region, offering the highest standards in care and leading the way in medical research.
The opportunities for private investment are substantial, but we must act fast. A growing number of multinationals are recognizing the opportunities to open facilities in the country and so it is essential that we get the ball rolling as quickly as possible. In doing so, we can establish the hospital as the leading medical facility of its kind and secure the best returns for our investors.
We will offer investors the option to exit with shares. More information will be provided once we have a clearer idea on exit strategy options.
Africa Health Profile
Africa, like most developing countries is witnessing rapid emergence of chronic diseases. This is partly due to the rapid urbanization and the change in lifestyle with shift to more sedentary lifestyle and change of diet to more refined food products. This has seen a rise of obesity, diabetes mellitus and hypertension with attendant increase in cardiovascular diseases including stroke. The World Health Organization reported a stroke prevalence of 3042/100,000 admissions.
Rehabilitative Care in Short Supply
Rehabilitative care for conditions such as cancer, stroke, recovery following elective surgery, recovery following injuries and other therapies is in very short supply and patients currently have to travel long distances to receive the care they need, often at a huge cost to their pocket and their health due to the travel involved.
According to the “African Journal of Disability”, the long queues in public facilities offering physiotherapy services show that the demand is high for these services. As a result, patients who require daily physiotherapy sessions often have to make do with one monthly session severely hampering their progress and recovery. Some people are being sent away and told that they need to come back another day.
Equipment Costs A Barrier
The cost of equipment is also quite expensive for most, and this has put off many individuals from setting up their own practices. Manufacturers have also reported they have large stocks of equipment sitting in warehouses because individual consultants cannot afford their purchase or upkeep.
Africa’s Current Health Care Provisions
Opting in to the National Insurance Fund is mandatory for all salaried employees, with contributions based on a graduated scale on income and automatically deducted through payroll. It is using mobile money to expand access to workers in the informal sector through creating a more convenient way to pay monthly premiums. It is our vision to become the primary partner for patient referrals once they have been discharged from hospital and require aftercare, day center care or further treatment for their condition.
A Growing Problem
An estimated one billion people worldwide experience some form of disability and are in need of health and rehabilitation. There is a severe shortage of rehabilitation personnel and services in Africa, and the graph below illustrates just how serious the situation is right now. Lower income countries like Africa, have a density of less than 0.5 personnel to every 10,000 people, and there is a huge gap to be filled with rehabilitative care.
As patients often need to arrange air travel to India, South Africa or other countries to arrange their care, or if they receive care in Africa, appointments are in short supply and so care may not be administered effectively, we aim to address the shortage by offering rehabilitation and recovery services that will help to fill these gaps and offer patients local care when it is needed the most.
According to the World Health Organization (WHO) stroke is the third most common cause of death in Africa, and this rate is on the rise, especially among young adults.
Rise In Severe Health Conditions And Rehabilitative Care Requirements
The occurrence of stroke and other diseases dramatically affects the lifestyles of the individuals involved and more than 50% of those affected need assistance with at least one activity of daily living. This may include washing clothes, housework or travelling on public transport. We will have a number of programs in place that offer one-to-one treatments depending on the severity and nature of the disease or illness. Our Stroke Recovery Program, for example, will help stroke victims to get back to the lives and activities they enjoyed before and to re-enable them to perform the skills essential to independence, wellbeing and making a living.
Heart disease is another disease that is on the rise. Over 200,000 patients in Africa are diagnosed with heart disease each year. Only three facilities in the whole of Africa have the capacity to offer heart surgeries, and many patients do not receive a high enough standard of rehabilitative care following surgery due to lack of facilities or trained staff. This can severely disrupt their recovery.
Cancer ranks third as a cause of death in Africa, after cardiovascular diseases and infectious diseases. It is responsible for 7% of total national mortality each year. There are very few cancer specialists in the country, and most specialists tend to be concentrated in and around Cape Town. Treatment is not the only issue where cancer is involved. The impact of cancer extends beyond the physical impact of the diseases, and even once in remission, patients can feel weak, traumatized and find it difficult to return back to normal life.
Road Traffic Injuries Causing Heavy Burden on Hospitals
Road traffic injuries create a huge burden on hospital services, and account for between 45% and 60% of all surgical ward admissions in Africa. A recent survey carried out by Macharia WM. shows that 51.9% of road traffic accident casualties stay in hospital for over a month, often receiving weeks of rehabilitative care.
Bridging the Gap In Africa’s Healthcare System
Offering a wide range of inpatient and outpatient services will help to seal the gaps in the local area, and ensure a much improved rate of rehabilitation and recovery. Patients coming to the Africa Medical Center will have a range of specialists needs that they cannot fulfil elsewhere. We will meet those needs.
Africa Medical Center will offer treatments and rehabilitation for a wide spectrum of conditions and injuries. Our main objective is to provide rehabilitative treatments that enable our patients to resume living in an independent and self-determined way, and to improve their quality of life. These treatments will help them with their reintegration into work, family and society.
Aim: Patients will receive the highest standards in care at all times.
We must maintain a high standard of care at all times, and to ensure our services are made available to those who need them at the time that they will offer the most benefit. Through careful and regular reviews of our services, adopting regular training and development programs for our staff and collecting and analyzing feedback and patient data, we can provide consistent levels of care throughout our facility.
- The hospital will provide high quality care for all patients
- The hospital will deliver consistently safe care
- We will offer the services that patients are unable to receive elsewhere
- We will deliver effective care at all times
- We will deliver our services 7 days a week
Aim: People will be proud to work for us.
It is our aim to become one of the leading rehabilitative facilities in the region, but we can only do this if we attract the right staff. Motivation, personal development and the wellbeing of our employees will be at the heart of everything we do. We want to attract the best medical talent in the region, and stand out as a leading edge, well-equipped and productive facility offering the best services to patients, and the best personnel remuneration and incentives for our staff.
We will achieve this aim by adopting the following:
- We will work hard to ensure our workforce is motivated and engaged
- We will recruit, retain and develop a workforce with the right people, the right skills and with qualifications from professional bodies
- We will proactively ensure the morale and wellbeing of our employees
Aim: Good performance will be at the heart of all we do.
Performance on paper is one thing, but the true evidence of good performance is in the wellbeing and recovery of our patients. It is our plan to expand the facility when the time is right, and patient needs and gaps in good quality care will help us to determine this time, and how best to move forward with this expansion. The land we will procure will provide enough space for ample expansion.
We also need to ensure we invest in the best equipment possible for our patients, and with this in mind, we will work hard to build good relationships with equipment suppliers in order to secure competitive prices and discounts where we can.
- We will constantly assess our performance in all aspects of our service delivery to ensure we achieve our operational, quality and financial targets
- We will invest in the innovative and high quality equipment to ensure the best outcomes for our patients
- We will optimize the use of our land and estate, expanding our services when the time is right
- We will work with suppliers to ensure the most cost effective goods and services
- We will work closely with teams and stakeholders to ensure mutually beneficial partnerships and business proposals.
#2 Medical Center Business Plan Company Profile Section
The Company Profile is also known as the Company Description. If it’s well written, your potential investors will find it easy to understand your business model, your mission and goals, and how it’s going to meet the needs of your target market.
In this example of a medical center business plan, we’ve included the following:
- Hospital and facilities
- Proposed location
- Target Market
The Business Model
Of course, generating revenue is of utmost importance to the running and future of the hospital and we are proposing a model that reflects how most private practices are run elsewhere in the world. We will essentially have three revenue streams to start with.
Our facilities are going to be significantly more advanced and equipped than any other clinic in the region and will therefore be a more attractive prospect for patients and consultants alike.
We will generate revenue in the following ways:
Room Charges
Private room with private bathroom: $220 per night (inclusive of nursing care, food and facilities)
Bay room bed with shared bathroom: $150 per night (inclusive of nursing care, food and facilities)
Consultant Annual Subscription Fee
Every clinician and consultant working at the hospital will be charged a set fee that gives them exclusive rights to book facilities and rooms within the hospital. We will charge this on an annual basis. The suggested amount is $1,000 although this is open to discussion. This is a sure source of income and will be of huge benefit to our cash flow from the moment the hospital is opened.
Consultant Fees
We will charge each consultant an hourly rate for booking rooms and facilities. The hospital will also receive a percentage of the fee charged for any inpatient procedures or treatments. The suggested rate is 20%. Consultants can also choose to have their own support staff or to use resident hospital staff.
At full capacity, the hospital will generate $8,000 per night from room bookings alone. A physiotherapist would typically charge $70 for a 30 minute session, although we will need to compare this figure with local rates to ensure we are competitive. Costs for procedures will usually be dictated by each consultant and we will work closely with them to ensure we have a clear pricing schedule in place.
The Hospital
We are currently in the process of researching suitable land for the hospital and we are in talks with local real estate agents to discuss our needs.
The hospital will initially accommodate 40 beds for overnight stays distributed as follows:
- 20 private rooms including private bathroom
- 20 beds distributed across 5 bays with one bathroom per bay
Treatment areas will consist of the following:
- Hydrotherapy pool with overhead harness to benefit the patient and promote physical wellbeing. This use of water will relievediscomfort and is a specific form of physiotherapy treatment conducted in a heated pool. Aquatic Physiotherapy treatment (individually or in groups) incorporates individual assessment, diagnosis and the use of clinical reasoning skills to formulate a treatment program appropriate to each patient’s needs. By combining hands-on pool based physiotherapy treatment techniques and specifically designed exercises supervised by physiotherapists with specific training in Aquatic Physiotherapy, hydrotherapy helps regain or enhance physical well being in a warm relaxing environment.
- 2 gyms in patient rehab – one featuring gym equipment for therapy sessions and a second studio room that can be equipped as needed or used as an aerobic
- Outpatient and Inpatient department for Physiotherapy
We plan to offer a wide range of services to our patients that will help to prolong and enhance the lives of those in pain, in need of aftercare therapies or who have other needs that require specialist assistance or treatment. Our services are flexible, diverse and will be continually developed so that they meet the needs of our patients and provide the highest standards of care. Services will be provided 7 days a week.
Our day center will offer the following treatments and services:
- Care and assistance for the terminally ill such as cancer
- Care for patients with diseases such as Parkinson’s disease or Alzheimer’s
- Care for the
- Care for patients with special needs such as a mental or physical
We want to create a pleasant and peaceful environment where patients and their families can feel relaxed and confident that they are receiving the best healthcare possible. Community is important to us and we feel our hospital will become the local hub for patients to visit, get well, share their stories and experiences and benefit from a very positive experience.
The inpatient rehabilitation unit will occupy approximately 5,000 meters of space and will accommodate 40 beds, 20 private rooms and 5 bays. Private rooms will feature 1 bed and en-suite bathroom, and each bay will accommodate one bathroom per bay. The total land space we are looking to secure is around 8 to 10 acres to allow for future expansion.
We will also offer outpatient rehabilitation and follow- up appointments, elective day surgeries such as keyhole surgery or joint replacements, and elderly and cancer care.
In addition to the building and development of the site, we will also be looking to procure the following equipment:
- Motomed – 2 machines
- Parallel bars
- Moveable overhead harness
- Standing hoist
- Sliding sheets
Proposed Location
We are currently looking into selecting one of two possible locations for the rehabilitation center – Location 1 and Location 2. Both locations offer adequate land space and a number of amenities that would benefit the hospital once built. Both locations also offer adequate land space for expansion when the time comes.
Location 1 – Situated approximately 55 miles from Nairobi, on the outskirts of the Valley, the town has a population of about 4,800. Due to its proximity to Nairobi and its convenient position on the main highway, Location 1 is starting to attract the attention of new businesses and investors. The town is currently served by one government-run healthcare facility, ABC Health Center.
Location 2 – Another location we are considering is Location 2. Situated a mere 27 miles from Nairobi, the town is the administrative and commercial center for the city, and houses the government offices and main ministries. The town has witnessed major growth in recent years with a major road infrastructure and many real estate developments being completed in the area. Healthcare in the county is accommodated by over 300 health facilities.
Inpatient & Outpatient Services
Our team will provide an integrated therapy service for patients staying at the hospital, and offer treatments and therapies that put the patient on a personalized pathway to wellness. Whether they are referred from hospital following elective surgery, or require rehabilitation following a stroke or accident, we will tailor our treatments and therapies to suit the patient’s individual requirements.
The Therapies On Offer
The Africa Medical Center will employ the full spectrum of different therapeutic methods, and use every means possible within the areas of motor rehabilitation and cognitive therapy to ensure our patients are able to return to an independent way of life as quickly as possible.
During cognitive, sensorimotor and social training treatments, our therapists from cross-disciplines will work closely together to achieve the best results. We will also get the patient’s family on board, and involve them in the therapy process.
The hospital will be a hive of activity each day, offering at least three activities in our gyms. These may range from low level aerobics up to more high impact classes that are designed to challenge our more able patients.
Our physiotherapy and outpatient unit will offer the following services:
Outpatient physiotherapy.
- Education and advice on manual handling and posture
- Educating carers on better patient enabling and care
- Hydrotherapy treatments
- Active lifestyle changes that improve health
Therapists will be supported by our Therapy Assistants who will assist patients with enjoyable and rewarding activities such as knitting, playing cards and other activities they enjoy.
We will offer the following therapies to inpatients and outpatients:
Hydrotherapy.
- Occupational therapy
Hydrotherapy involves the use of water to treat a variety of conditions including rheumatic conditions and arthritis. Using our specially adapted pool, we will provide a range of hydrotherapy services designed to help to build strength and range of movement. Each session will feature specially adapted exercises tailored to the needs of the individual.
Our physiotherapy department will treat a wide range of musculo-skeletal conditions such as joint pain, back pain, neck pain and other injuries resulting from trauma.
We will also offer post-operative physiotherapy care.
Our trained physiotherapists will have access to a number of treatment options and areas, and our services will include:
- Prescriptive exercises tailored to the individual’s needs
- Group exercise sessions
- Manipulation or mobilization of soft tissue and joints
- Acupuncture
- Advice on posture, pacing and lifestyle change if necessary
- Advice on return to work and normal life
Occupational Therapy
Our occupational therapy services will help our patients with health problems that prevent them from doing the things that matter to them. Our trained and experienced occupational therapists will work closely with patients to identify the difficulties they are facing, such as getting dressed, shopping and carrying out everyday activities. We will work out practical solutions, identify goals and use a variety of techniques to help our patients to lead as independent and enjoyable a life as possible.
Speech & Language Therapy
Our speech and language therapy services will provide life-changing support and treatment to adults and children who have difficulty with communicating, and also drinking, eating and swallowing. Our trained speech and language therapists will work closely with patients, parents and carers to deliver tailored treatment aligned to the patient’s individual problems.
Nutritional therapy offers personalized treatments adapted to the unique needs of each patient. These treatments will depend on a number of factors influenced by diet, lifestyle and environment. Our nutritional therapists will work with individuals to prevent and alleviate ailments by making recommendations regarding diet and nutrition.
Patient Referrals For Treatment
One question investors will have is how patients arrive at the hospital. It is our aim to be the referral Center of choice for hospitals in the immediate region and beyond. We will also be approaching insurance companies, private therapists and other avenues of referral to market our services. Patients can also come to us on a self-referral basis. Consultants affiliated with the hospital and booking out our facilities will also help to attract clients.
We have based our staffing proposal and costs based on the services we provide and the average cost of each consultant or specialist.
Our initial staffing plan will be as follows:
- 5 Physiotherapists at $700 USD each per month.
- 3 Occupational Therapists at $700 USD each per month.
- Speech and Language Therapists at $850 USD per month.
- 10 Nurses at $600 USD each per month.
- 6 Nursing Assistants at $250 USD each per month.
- 5 Therapy Assistants at $300 USD each per month.
- 2 Administrative and Accounting staff at $300 USD each per month.
We will require all staff to be fully experienced and to have a BSc degree in their field of expertise. Our inpatient therapists will be employed on a fulltime basis. The nursing to patient ratio will be 1 nurse to every 6 patients and nurses will be supported by nursing assistants also employed on a fulltime basis. We want to offer a flexible and accessible service that is available 7 days a week. For this reason, we will ensure that we have a therapist from each therapy discipline working in the Center every day. We will also welcome volunteers on an individual or group basis.
In terms of remuneration packages, we will introduce a banding system of grading seniority. For example, a newly qualified nurse may join the hospital on pay grade 5, but will have the opportunity to progress to pay grade 9. Personal development and a motivated hospital team is important to us and we will be ensuring that staff members receive ongoing training and development as part of their role with us.
Our Target Market
Whilst most of our patients will be referred to us from their main hospital, patients will also self refer. We would be looking to attract patients to our full package treatments as these will generate the most income for the hospital and our investors.
Most expats prefer to use private healthcare facilities in Nairobi even though the costs may be significantly higher than treatment in a public facility. They know that they will receive a better quality of service and access to more experienced doctors.
Our hospital will be a very attractive proposition for patients who would otherwise have to pay for and arrange long haul flights to receive the treatment they need. We give them another option and a chance to receive their treatments and therapies close to their homes and families and to experience a more positive outcome.
The Patient Journey
The patient journey to and through our hospital will vary from patient to patient. Many will be referred directly from their main hospital or Doctor, whilst others will be referred by their insurance company. Some will book directly through our website or over the phone and the Consultants working with us will also bring their own clients. We will also make our facility available where possible to handle overflow from other clinics.
Initial assessment will determine the treatment path each patient will take whether they require elective surgery or aftercare services and therapies following treatment elsewhere. Each patient will receive individualized care especially tailored to ensure their health, wellbeing and recovery are our top priority.
SWOT Analysis
We have a clear view of our clinical services, strategic and performance objectives. We will and strive to be different than other existing services that exist and have developed the following SWOT analysis to illustrate this.
- Medical Clinic will be the first of its kind.
- Local identity, pride and commitment to the hospital.
- We will establish excellent ratings compared to those of our competitors.
- Proactive team offering multiple disciplines and expertise.
- We have few like-for-like competitors in our field of expertise.
- Constant training for our teams in new medical pathways.
- We will quickly become the first choice for rehabilitative care and elective surgeries in the region.
- Our staff will be proud to work for our hospital and their motivation and morale will further boost the wellbeing and recovery of our patients.
- Our estate footprint allows for further development.
- We will be close to the city and developed roads.
- Being the first of our kind, we are likely to suffer from teething problems at the start.
- This is a large undertaking and we will require full investment to be in place before we can begin development.
- Recruitment may be an issue at first, but we plan to initiate a large scale recruitment drive to attract consultants and other staff to our leading edge facility.
Opportunities
- The medical sector in Kenya is constantly growing, with more and more overseas companies opening clinics in the region. We plan to work closely with these clinics to attract referrals following elective surgeries and other procedures or ailments that require rehabilitative care.
- We plan to initiate many collaborative arrangements with companies and organizations across Nairobi and beyond. These organizations include other healthcare clinics and institutions in the local region, insurance companies, doctor’s surgeries and hospitals.
- We will tap into the latest technology to ensure a streamlined booking and admissions system and to ensure staff are able to collaborate well and share information easily.
- Our 8 year plan and our footprint give us the scope to expand our services in the future, plugging more gaps in the market and ensuring we can keep up with any competitors in the region that may spring up.
- Others are starting to see the same opportunities for rehabilitative care and therefore the time frame to start the project is limited. We must get the funding we need now to secure the land and begin development.
#SWOT #analysis is using your strengths to overcome weakness & using your opportunities to overcome threats! Tweet
#3 Medical Center Business Plan Marketing Strategy Section
The marketing strategy section of your business plan describes who your customers are going to be and how you plan to communicate to them the services or goods you are offering.
If your potential customers are not made aware of your business, you are not going to stay in business for very long!
Defining a marketing strategy in your business plan highlights your understanding and knowledge and emphasizes what makes your business concept compelling. It also outlines how you plan to attract and maintain a customer/client base.
Ask yourself:
- How are you planning to advertise to your market?
- What is your competitive edge?
- What is your development plan
- What are your funding options?
Let’s look at the following example.
We will be setting up a project website in the next few weeks where hospital plans, our vision and the latest development news will be published. As part of our marketing strategy, we will be running a full advertising campaign targeting billboards, magazines and health and wellness websites – anywhere where our prospective patients may visit or publications they may read.
We will also be approaching local hospitals and insurance companies (Xplico Insurance, Jubilee Insurance etc.) to make them aware of the Center and the services we will be providing.
Competitors
We are in a very exciting and unique position in that there are currently no rehabilitation Centers of the type we propose in Africa. There are many rehab Centers offering support for drug and alcohol use, but not for rehabilitation due to injury, illness or post-op aftercare requirements.
Hospitals charge $250 USD for a private room. This includes a bed, nursing care and food. Bay rooms cost
$150 USD per night. Each consultant charges between
$50/100 USD depending on their skillset and the therapy being given.
Our charges will be lower without any compromise to the patient in quality of care or service. We will charge $220 USD for a private room which includes all services except consultant costs. A bay room will cost the patient $150 USD and this includes all services except consultant costs.
Development Plan
Once we secure the necessary investment to start development, we can begin right away.
Procuring the land – the first stage is to locate and procure the land required for the development. We are currently looking at land in Location 1 and Location 2, situated around 20 minutes from Nairobi.
Obtaining operating licenses – we will need to obtain a number of licenses that allow us to operate a medical facility in Africa. We are currently looking into the costs of these licenses and how much they will cost to renew on an annual basis.
Development begins – once the land has been procured, we will go ahead with development. Plans will be made available very shortly on our website.
Marketing – we will approach relevant organizations and local hospitals to inform them of our new facility and to negotiate referral procedures and any fees involved. We will also use our website to market our services and take payment for any treatments or treatment packages.
Procuring equipment – we are currently in the process of researching equipment suppliers and drawing up costs.
Recruiting staff – using a medical recruitment portal and local advertising, we will start to build our team.
Funding Options
One of the biggest obstacles to starting a business in Africa is funding. Making connections in business can be a challenge, but we have a number of options we can consider. Given the unique position we are in and the demand for this service, we expect to secure funding very quickly. In addition to private investment from equity investors, we are in the process of researching other funding streams to help us get up and running.
Ensuring that you have a COMPLETE #financial #plan within your business plan will DOUBLE your chances of #investment and future growth of your business. Tweet
#4 Medical Center Business Plan Financial Section
Ensuring that you have a COMPLETE financial plan within your business plan will DOUBLE your chances of investment as well as the future growth of your business.
A lot of small businesses don’t have a financial plan and it’s essential to your long-term success and business growth.
We’ve listed here the key elements you need to have in a successful financial section:
- Initial Start Up Expenses – Especially if this is a start-up idea, it’s essential that you have a description of what you need for investment purposes.
- Sales Forecast – It’s essential to have an estimate of your monthly sales revenue as well as annual. This helps you understand your business and plan out any marketing and growth strategies.
- Direct cost of sales – Measures the amount of cash the company will have to spend to produce the goods or services sold by the company. The direct cost of sales only includes the expenses directly associated to production.
- Profit and Loss Forecast – This is a statement summarizing the revenues, costs and expenses incurred during a specific period.
- Balance Sheet – This is the financial position of the company and states its assets, liabilities and owners’ equity at a particular point in time. It illustrates the business’s net worth.
- Loan Repayment – This shows the lender or potential investor the act of paying back any monies.
So… Are you ready to look at some figures?
Financial Projections
Salary module.
Cashflow For 3 Years
Startup Costs
Income Statement for 3 Years
Balance Sheet for 3 Years
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How to Write a Business Plan for a Medical Practice - Bplans How to Write a Business Plan for an Outpatient Medical Practice Noah Parsons 16 min. read Updated March 8, 2023 So you're thinking about starting your own outpatient medical practice. You probably have many good reasons to open a private practice.
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Medical Clinic Business Plan Felix Madira MedicalClinicTemplate] is a start-up organization that provides an extremely valuable and sought after medical assistance service to a growing population of elder and physically impaired in [YOUR STATE/PROVINCE] [YOUR COMPANY NAME] Read Full Text Download PDF Related Papers
The medical clinic business plan provides a great opportunity for the private sector. There are government agencies at state levels that provide the same services but with long delays, lack of personal attention, and lower quality of service. Here you will find the strategies to fulfill the market's unfulfilled needs in order to position your ...
A Business Plan for healthcare plays a vital role in setting up a successful business in the healthcare industry. Experts in the field will know how important a business plan is to ensure all the necessary areas will be thoroughly thought of. Keep reading the article to know how to provide your company with your own healthcare business plan.
Use our medical or healthcare business plan samples to start writing your business plan quickly. You can preview these sample business plans created with upmetrics business plan builder and easily copy them into your business plan. This is the easiest and fastest way to write a business plan for your medical or healthcare business.
Step by Step(ACTIONABLE)Case Study. Writing a Medical Center business plan is no easy task - especially because of the amount of details involved. You need to consider location, equipment, employment of specialist staff, as well as setting the goals for operating and growing the center and considering finances and information technology.