business plan centre medical

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 create a business plan for a medical practice

Starting a medical practice is no small feat. You may consider it lucrative and the right step for your career but have you considered all that it takes to start and run a medical practice? This is what a business plan is for. 

A business plan is a strategic planning document that lays out in detail the objectives and goals of a company and also how the company plans to achieve its goals. A business plan can be considered a road map for any business that details a business’ profile, products and services, marketing, financials, operations and organizational structure.

Developing a business plan requires strategic planning to identify the mission and vision, target audience, operations and financials of your medical practice. This is a crucial step when starting your medical practice. In this article we will share about how to write a business plan for a new medical practice.

Why you need a business plan for a medical practice

Just like any other business, a business plan is very important before starting a medical practice. In a recent Sermo poll, 52% of respondents indicated it is important to get a business plan for your medical practice and we will share reasons why. 

• A business plan helps to define the core essence of your medical practice. With a medical practice business plan, you can properly define your practice’s vision, mission, goals and target audience.
• With a medical practice business plan, one can properly estimate the financial cost of starting up as well make financial projections for a time period. 
• A medical business plan can help define marketing for your practice and set SMART marketing goals.
• A medical business plan helps to strategically identify and define all the stakeholders relevant to your practice and their role in the success of your practice. 
• A SWOT analysis is a core part of any business plan. This will help the medical practice understand its strengths, its competitors, opportunities and the environment where it plans to operate in. 

Types of business plans for a medical practice

There are different types of business plans for different business types. For a medical practice, these two types of business plans are most common: traditional business plan and lean business plan. 

A traditional business plan is a more robust type of business plan that covers a wide range of topics regarding business planning. A traditional business plan usually covers areas such as products and services, financing, marketing and organizational structure. It is often used as a guide for business operations and an effective tool for communicating the medical office business plan to investors and business partners. 

A lean business plan on the other hand is a more succinct version of a traditional business plan. A lean plan is faster and easier to write. It focuses mainly on strategy, financials, important dates, milestones and activities. Think of a lean business plan as being more straight to the point. Some people use this business plan when trying to grow their business and achieve certain goals at specific timelines. 

How to create a medical practice business plan

There are different medical practice business plan templates but most cover four major key areas which are company profile, sales and marketing, operations and financials. 

Let’s take a look at what an ideal business plan template for medical practice should look like. 

1. Executive Summary 

The executive summary is usually the first section in a business plan. It should briefly describe the medical practice, products and service offerings, target audience, the organizational structure and financials. 

Executive summaries should be kept short and are usually no longer than a page. However, it should have as much important information as possible. The executive summary is usually the page of interest when your business plan is being reviewed by investors and business partners. 

2. Company description 

This section of the business plan allows you to define your medical practice in full detail. It should include the practice’s vision and mission statements, its goals and objectives and products and offerings. 

This section should detail the type of medical services your medical practice will be offering. If there are other medical experts who will be supporting your offerings, this is a good section to define that. This section should also describe your target patients. 

 By creating an ideal patient profile, medical practices can better describe their target patients. The ideal patient profile should describe patients best suited for the types of services you offer and who can afford to pay for your services. 

3. Market Analysis

Your medical practice is most likely not the only medical practice in your location and there may be alternative options where your patients may go for treatment or medical services. The market analysis section in a medical business plan should describe the current market for your services and present competitors. 

The market analysis section may require conducting a market research to understand the patient demographic and your competitors. 

4. Marketing and Sales

The importance of marketing in a business cannot be overemphasized. In a Sermo poll, 64% of physicians indicated attracting and retaining patients as the biggest factor in the success of a new practice. The marketing and sales section of a medical business plan should describe how the medical practice intends to attract and retain its target patients. It should describe the marketing plan, marketing activities and the marketing goals of the medical practice. 

When describing this section, keep in mind the 7Ps of marketing. This includes the product, people, price, promotion, place, packaging and positioning. Each of these must be considered when developing a successful marketing strategy. 

The marketing and sales section is also a good place to include a SWOT analysis. A SWOT analysis is a critical analysis of the Strength, Weakness, Opportunities and Threats of the medical practice. 

5. Operations

The Operations section is a very important part of the business plan. It describes how the medical practice will work. Things to cover include, working hours, staff strength, location, technology, outsourcing and logistics. 

The operations of a medical practice is very sensitive and it would help if a lot of things are defined before starting the business. For instance, the location and layout of your medical practice should be well captured and defined in the medical business plan. You should also consider outsourcing. Are you handling medical billing in-house or will it be outsourced? Will you be handling recruitment or it will be outsourced to a staffing agency? 

Also supplies and logistics of medical materials should be considered and defined. If your medical practice will have a pharmacy, how will the drugs be sourced? These are some of the important questions that should be answered in this section. 

6. Milestones and Timelines

This section involves setting and defining achievable milestones and corresponding deadlines. This way it is clear what needs to be done and by when it needs to be completed. 

For setting up a medical practice, milestones can include major events like renting a place, purchase of medical equipment, recruitment of staff and set up of medical devices. 

7. Organizational structure

A business plan is not complete without defining the organizational structure and/or team that will carry out business operations. In this section, define the management team and their required qualifications. It is also important to define roles of the management team and projected salaries. 

At this point, one can also add in the hiring plan for other members of the organization. Define the other roles, how they will be recruited, skill set of interest and how much they will earn.

8. Financial plan

A solid financial plan must be included in every business plan. For a start up medical practice, the financial plan should include start up costs. The financial plan should also include a cash flow forecast that shows projections of cash inflow and outflow over a time period. This is usually broken down on a monthly basis. 

A good financial plan should tell a story of how the business will grow income-wise. If your medical practice has already been established, other financial statements like income statements, balance sheets and cash flow statements will help give a better picture of the financial stability of your medical practice. 

9. Appendix

This is a section reserved for miscellaneous topics. Other supporting documents such as pictures, charts, reference letters that may be of interest can be added in this section.

Building a successful medical practice starts with writing a good medical business plan. Start by strategically thinking about your medical practice. Using the guide above of a private practice business plan template, you can think through all the important aspects of starting your medical practice and write an effective business plan that will help the process. 

Don’t do it alone, get help from other physicians

For more useful tips that will help you start up your medical practice, sign up on Sermo today. Engaging with more than 1 million physicians across 90 specialties and 150 countries, Sermo offers a unique physician-first online community that allows clinicians to communicate about issues that are important to them and their patients.

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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

Download an expert-built 5-year Excel financial model for your business plan

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.

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Here is a free business plan sample for a medical clinic.

If you're passionate about healthcare and envision opening your own medical clinic but are unsure of the first steps, you've come to the right place.

In the content that follows, we will guide you through a comprehensive business plan tailored for a medical clinic.

As you may already be aware, a meticulously developed business plan is crucial for any aspiring entrepreneur. It serves as a roadmap, outlining your vision, objectives, and strategies for your healthcare venture.

To streamline the creation of a robust plan, you can utilize our medical clinic business plan template. Our team of experts is also on standby to provide a complimentary review and refinement of your plan.

How to draft a great business plan for your medical clinic?

A good business plan for a medical clinic must be tailored to the unique aspects of healthcare services.

To start, a comprehensive market overview is crucial. This should include current healthcare statistics and emerging trends in the medical industry, as illustrated in our medical clinic business plan template .

Your business plan should articulate your clinic's vision clearly. Define your target market (such as families, elderly patients, or specific communities), and establish your clinic's unique value proposition (like specialized services, extended hours, or innovative care models).

Market analysis is a key component. This requires a thorough understanding of the local healthcare landscape, potential referral sources, competitor services, and patient demographics.

For a medical clinic, it's imperative to outline the range of services you intend to offer. Describe your primary care services, specialty treatments, or ancillary services such as lab work or imaging, and how these will meet the health needs of your patient population.

The operational plan should detail the clinic's location, facility layout, medical equipment needs, supply chain for pharmaceuticals and medical supplies, and patient flow processes.

Quality of care, patient safety, and compliance with healthcare regulations are paramount. Your plan should highlight how you will uphold these standards.

Discuss your marketing and patient acquisition strategies. How will you build a patient base and foster loyalty? Consider outreach efforts, community partnerships, and patient engagement tactics.

Incorporating digital strategies, such as an online appointment system, patient portal, or telemedicine services, is increasingly important in the healthcare sector.

The financial section is critical. It should encompass the startup costs, projected revenue, operating expenses, and the point at which the clinic will become profitable.

Medical clinics often deal with complex billing and insurance reimbursement processes, so a thorough understanding of these financial operations is essential. For assistance, refer to our financial forecast for a medical clinic .

Compared to other businesses, a medical clinic's business plan must address specific healthcare industry challenges such as regulatory compliance, medical malpractice insurance, and the integration of electronic health records.

A well-crafted business plan will not only help you clarify your operational and financial strategies but also attract investors or secure loans.

Lenders and investors are looking for detailed market research, realistic financial projections, and a solid plan for patient care and clinic management.

By presenting a comprehensive and substantiated business plan, you demonstrate your commitment to providing quality healthcare and the viability of your clinic.

To streamline the planning process and ensure you cover all necessary elements, consider using our medical clinic business plan template .

A free example of business plan for a medical clinic

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a medical clinic .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The healthcare industry, particularly the medical clinic sector, is a critical component of the global economy.

Recent estimates value the global healthcare market at several trillion dollars, with a forecast for steady growth driven by an aging population, increasing life expectancy, and a rise in chronic diseases.

In the United States alone, there are over 33,000 primary care clinics, contributing significantly to the nation's healthcare provision and representing a substantial portion of the healthcare system's revenue.

These statistics underscore the vital role medical clinics play in delivering healthcare services and their substantial economic impact.

The healthcare industry is experiencing a transformation, with trends pointing towards more patient-centered and technologically advanced care.

Telemedicine is rapidly expanding, offering patients remote consultations and follow-ups, which is particularly beneficial for those in rural areas or with mobility issues.

Personalized medicine is gaining traction, with treatments and preventive care being tailored to individual genetic profiles.

There is also a growing emphasis on preventive care and wellness programs to reduce the incidence and impact of chronic diseases.

Healthcare providers are increasingly adopting electronic health records (EHRs) and data analytics to improve patient outcomes and operational efficiency.

Moreover, patients are becoming more informed and involved in their healthcare decisions, prompting clinics to focus on patient education and engagement.

These trends indicate a shift towards a more accessible, personalized, and data-driven healthcare system.

Success Factors

The success of a medical clinic hinges on several critical factors.

Quality of care is paramount; clinics that provide excellent medical services with positive patient outcomes will naturally build a strong reputation.

Adoption of cutting-edge medical technology can enhance diagnostic accuracy and treatment effectiveness, setting a clinic apart from competitors.

The location of the clinic is also important, as accessibility can influence a patient's choice of healthcare provider.

Exceptional patient service, including minimal wait times, friendly staff, and a comfortable environment, is essential for patient satisfaction and retention.

Lastly, efficient operations management, adherence to healthcare regulations, and the ability to adapt to the evolving healthcare landscape, such as integrating telehealth services, are crucial for the sustained success of a medical clinic.

The Project

Project presentation.

Our medical clinic project is designed to address the essential healthcare needs of the community by providing comprehensive medical services with a focus on patient-centered care. Strategically located in an area with a growing population or near residential neighborhoods, this clinic will offer a variety of healthcare services, including general practice, preventive care, chronic disease management, and specialized treatments for conditions such as diabetes and hypertension.

The clinic will prioritize accessibility, convenience, and high-quality care, ensuring that patients receive personalized attention and treatment plans tailored to their individual needs.

With a commitment to improving community health outcomes, our medical clinic aims to become a trusted healthcare provider, offering a holistic approach to medicine and fostering long-term relationships with patients.

Value Proposition

The value proposition of our medical clinic project is centered on delivering compassionate, high-quality healthcare services that cater to the diverse needs of the community. Our dedication to patient well-being, combined with the use of modern medical technology and evidence-based practices, ensures an exceptional healthcare experience.

We are committed to creating a welcoming environment where patients feel heard and respected, and we strive to empower them with the knowledge and resources necessary to make informed decisions about their health.

Our clinic aspires to be a cornerstone of the community, providing accessible and reliable medical care that enhances the overall health and quality of life of our patients.

Project Owner

The project owner is a seasoned healthcare professional with a profound commitment to patient care and community wellness.

With a background in healthcare management and a strong track record in establishing successful medical practices, the owner is dedicated to building a medical clinic that stands out for its patient-first philosophy, quality of care, and innovative approach to healthcare delivery.

Driven by a mission to serve and a vision to lead in community health advancement, the owner is determined to offer a range of medical services that not only treat illnesses but also promote healthy living and disease prevention.

With a passion for medicine and a heart for service, the project owner is the visionary leader of this endeavor, aiming to make a positive and lasting impact on the health of the community.

The Market Study

Market segments.

The market segments for this medical clinic are divided into several categories.

First, there are individuals with chronic conditions who require ongoing medical management and monitoring, such as diabetes, hypertension, or heart disease.

Next, there are patients seeking acute care for illnesses, injuries, or other immediate health concerns that do not require emergency room visits.

The market also includes health-conscious individuals looking for preventive care, wellness check-ups, and health screenings to maintain their well-being.

Finally, other healthcare providers such as specialists or hospitals can be a key segment by referring patients who need primary care services or follow-up after specialized treatment.

SWOT Analysis

A SWOT analysis of this medical clinic project reveals several aspects.

Strengths include a team of experienced healthcare professionals, state-of-the-art medical equipment, and a focus on patient-centered care.

Weaknesses could include the initial costs of setting up the clinic with advanced medical technology and the challenge of building a patient base in a competitive healthcare market.

Opportunities lie in the growing demand for accessible primary care services and the potential to partner with local businesses for occupational health services.

Finally, threats could include changes in healthcare regulations, insurance reimbursement challenges, and competition from other clinics and urgent care centers.

Competitor Analysis

Competitor analysis in the healthcare sector reveals a diverse range of providers.

Among direct competitors are other primary care clinics, urgent care centers, and large healthcare systems with outpatient services.

These entities compete to attract patients by offering convenient locations, shorter wait times, and a broad range of services.

Potential competitive advantages include personalized care, flexible scheduling, comprehensive services under one roof, and a strong reputation in the community.

A thorough understanding of competitors' strengths and weaknesses is essential for developing effective patient acquisition and retention strategies.

Competitive Advantages

Our medical clinic's commitment to patient health and satisfaction is at the core of our competitive advantage.

We offer a comprehensive range of medical services, from preventive care and wellness check-ups to chronic disease management and acute illness treatment, all delivered with compassion and professionalism.

Furthermore, our clinic's emphasis on patient education and empowerment helps to foster a proactive approach to health, which is highly valued by our patients.

We take pride in our efficient use of technology for patient records and communication, which enhances the overall patient experience and streamlines clinic operations.

You can also read our articles about: - how to open a medical clinic: a complete guide - the customer segments of a medical clinic - the competition study for a medical clinic

The Strategy

Development plan.

Our three-year development plan for the medical clinic is designed to establish a strong foundation and expand our healthcare services.

In the first year, we will concentrate on building a robust patient base by providing exceptional care and patient experience. We will also invest in state-of-the-art medical equipment and technology.

The second year will focus on expanding our medical team with specialists and introducing new health services to meet diverse patient needs.

In the third year, we aim to establish partnerships with local businesses and health insurance companies to increase accessibility to our services. Additionally, we will explore telemedicine to extend our reach to patients beyond our immediate geographic area.

Throughout this period, we will prioritize patient safety, quality healthcare, and continuous improvement in our services to adapt to the evolving healthcare landscape.

Business Model Canvas

The Business Model Canvas for our medical clinic targets individuals seeking quality healthcare services, including preventive care, diagnostics, and treatment.

Our value proposition is centered on providing personalized and comprehensive healthcare services with a focus on patient satisfaction and well-being.

We deliver our services through our clinic facilities, complemented by online appointment booking and telemedicine options, utilizing our key resources such as medical professionals, modern equipment, and healthcare technology.

Key activities include patient care, medical procedures, and health education.

Our revenue streams arise from patient fees, insurance billing, and partnerships with healthcare providers, while our costs are associated with medical supplies, staff salaries, and facility maintenance.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is centered on building trust and establishing a reputation for excellence in healthcare.

We plan to educate our target audience about our services and the importance of preventive healthcare through community seminars, health blogs, and patient testimonials.

We will collaborate with local organizations and businesses to offer health screenings and wellness programs.

Additionally, we will leverage social media and professional referrals to increase our visibility and attract new patients while upholding our commitment to healthcare excellence and patient satisfaction.

Risk Policy

The risk policy for our medical clinic is focused on mitigating risks associated with healthcare delivery, patient privacy, and regulatory compliance.

We adhere to strict healthcare regulations and privacy laws, ensuring that patient data is secure and confidential. We implement best practices in patient care and maintain rigorous hygiene and safety protocols.

Regular training for our staff ensures high standards of care, and we manage costs effectively to maintain financial stability.

We also carry comprehensive liability insurance to protect against potential healthcare-related claims. Our priority is to provide safe, high-quality medical services while safeguarding the well-being of our patients and staff.

Why Our Project is Viable

We are committed to launching a medical clinic that addresses the growing demand for accessible and high-quality healthcare services.

With our dedication to patient care, innovative healthcare solutions, and a strategic approach to growth, we are poised for success in the healthcare sector.

We are enthusiastic about making a positive impact on community health and are prepared to adapt to the changing healthcare needs of our patients.

We are optimistic about the future of our medical clinic and its potential to become a leading healthcare provider in our community.

You can also read our articles about: - the Business Model Canvas of a medical clinic - the marketing strategy for a medical clinic

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a medical clinic and our financial plan for a medical clinic .

Initial expenses for our medical clinic include the cost of leasing or purchasing a suitable facility, renovating the space to meet healthcare regulations, acquiring medical equipment and technology, procuring necessary medical supplies, hiring qualified medical and administrative staff, and investing in health information systems. Additionally, expenses will cover brand development and targeted marketing strategies to attract patients and establish partnerships with health insurance providers.

Our revenue assumptions are based on a thorough analysis of the local healthcare market, taking into account the population's medical needs, insurance coverage patterns, and the competitive landscape of healthcare providers.

We anticipate a steady increase in patient visits, starting conservatively and growing as our clinic's reputation for quality care and patient satisfaction strengthens.

The projected income statement outlines expected revenues from patient services, consultation fees, and potential ancillary services, balanced against direct costs (medical supplies, staff salaries, utilities) and operating expenses (facility lease, marketing, administrative costs, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our medical clinic.

The projected balance sheet will display assets such as medical equipment, office furniture, and technology systems, along with liabilities including loans and accounts payable.

It will provide a snapshot of the clinic's financial standing at the end of each fiscal period.

Our projected cash flow statement will detail the inflows from patient payments and outflows for expenses, enabling us to predict our financial needs. This is crucial for maintaining a healthy cash balance to support clinic operations.

The projected financing plan will identify the mix of equity, loans, and other financing methods we intend to utilize to fund our startup costs and initial operations.

The working capital requirement for our medical clinic will be carefully managed to ensure we have sufficient funds to cover day-to-day expenses such as staff salaries, medical supply purchases, and other operational costs.

The break-even analysis will calculate the volume of patient services required to cover all operating costs, signaling when the clinic will start generating a profit.

Key performance indicators we will monitor include the average revenue per patient, the patient satisfaction score, the clinic's occupancy rate, and the return on investment to gauge the efficiency of our capital expenditures.

These metrics will assist us in measuring the financial performance and overall success of our medical clinic.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a medical clinic .

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Sample Medical Practice Business Plan

Writing a business plan is a crucial step in starting a medical practice business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring medical practice business owners, having access to a sample medical practice business plan can be especially helpful in providing direction and gaining insight into how to draft their own medical practice business plan.

Download our Ultimate Medical Practice Business Plan Template

Having a thorough business plan in place is critical for any successful medical practice venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A medical practice business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.

The medical practice business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your medical practice as Growthink’s Ultimate Medical Practice Business Plan Template , but it can help you write a medical practice business plan of your own.

Medical Practice Business Plan Example – MediTrust Clinic

Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.

MediTrust Clinic, located in the heart of Omaha, Nebraska, is a groundbreaking healthcare facility dedicated to providing comprehensive medical services with a focus on preventive care and wellness. Our mission is to offer accessible, high-quality healthcare services to our community, emphasizing the importance of preventive measures to maintain and improve health. By integrating cutting-edge technology and evidence-based medical practices, we aim to deliver personalized care that meets the unique needs of each patient. As a new entrant in the healthcare industry, we are committed to building a trusted and efficient healthcare environment that supports the well-being of our patients and the community at large.

Our clinic’s success is driven by several key factors that set us apart in the healthcare industry. Firstly, our commitment to incorporating the latest medical technologies and evidence-based practices ensures our patients receive the most advanced care available. Additionally, our focus on preventive healthcare and wellness has positioned us as a leader in promoting health and preventing disease, distinguishing us from traditional healthcare providers. To date, we have accomplished significant milestones, including the development of a comprehensive service offering that meets a wide range of healthcare needs and the establishment of a skilled and dedicated team. These achievements have laid a solid foundation for our future growth and success in the healthcare sector.

The healthcare industry is undergoing significant transformation, driven by technological advancements, changing patient expectations, and evolving healthcare needs. The demand for accessible and high-quality healthcare services is increasing, particularly in urban areas like Omaha, Nebraska, where diverse populations seek comprehensive healthcare solutions. In response to these trends, the industry is witnessing a shift towards preventive care and wellness, with an emphasis on personalized healthcare services. Additionally, the integration of technology in healthcare delivery is becoming increasingly important, offering opportunities for innovation in patient care and operational efficiency. MediTrust Clinic is well-positioned to capitalize on these trends, offering a modern approach to healthcare that addresses the current and future needs of our community.

MediTrust Clinic primarily serves the residents of Omaha, Nebraska, catering to a diverse demographic that includes young professionals, families, and the elderly. Our target customers are individuals seeking not just immediate medical attention but also preventive care and wellness services to maintain and improve their health over time. We recognize the importance of personalized care and the role of technology in enhancing the healthcare experience. Therefore, our services are designed to meet the varied needs of our community, ensuring accessibility, convenience, and high-quality care for everyone.

• Nebraska Medicine Immediate Care Clinic – Midtown: Offers a range of urgent care services with competitive pricing, benefiting from its central location and extended hours.
• South Side Convenient Care: Provides urgent and primary care in a community-focused setting, with transparent pricing appealing to local families.
• Fred & Pamela Buffett Cancer Center: Specializes in oncology, offering advanced cancer treatment and research with a comprehensive approach.

MediTrust Clinic’s competitive advantage lies in our holistic approach to healthcare, focusing on preventive care and wellness, alongside the integration of technology for personalized patient care. This distinguishes us from competitors who may focus on specific healthcare needs or traditional care models.

Our marketing plan emphasizes the unique aspects of our healthcare services, focusing on preventive care, wellness, and the use of cutting-edge technology. We offer a wide range of medical services at competitive pricing, catering to the diverse needs of Omaha’s residents. Our promotions plan includes digital marketing strategies, community engagement initiatives, and partnerships with local organizations. By highlighting our clinic’s distinct approach to healthcare, we aim to attract patients seeking comprehensive, personalized medical services. Our promotional efforts will also emphasize the accessibility and affordability of our services, ensuring that quality healthcare is within reach for our community.

MediTrust Clinic’s operational strategy is meticulously designed to ensure the successful launch and growth of our medical practice in Omaha, NE. Key operational processes include securing a suitable location, obtaining necessary licenses, equipping the clinic with state-of-the-art medical technology, and hiring a qualified team. We have outlined several milestones, such as launching a comprehensive marketing campaign, implementing an Electronic Health Records (EHR) system, and achieving $15,000/month in revenue. These steps are critical for establishing a solid foundation, optimizing clinic efficiency, and ensuring high-quality patient care. Our commitment to continuous improvement and patient satisfaction will guide our operational decisions and adjustments.

Our management team consists of experienced healthcare professionals and business leaders with a shared vision for transforming healthcare delivery. With expertise in medical practice management, healthcare technology, and patient care, our team is uniquely qualified to lead MediTrust Clinic towards achieving its goals. We are united in our commitment to providing exceptional healthcare services and fostering a culture of innovation, excellence, and compassion within our clinic.

Welcome to MediTrust Clinic, a new medical practice dedicated to serving the community in Omaha, NE. As a local medical practice, we’re acutely aware of the lack of high-quality local medical services available in the area. Our mission is to fill this gap by providing top-notch medical care that our community deserves and needs. We’re here to make a difference in the lives of our patients, offering a comprehensive range of medical services tailored to meet their health needs.

At MediTrust Clinic, we offer a wide array of medical services designed to cater to the diverse healthcare needs of our community. Our offerings include Primary Care Services, where we serve as the first point of contact for patients seeking healthcare, addressing a wide range of health issues and ensuring continuous care. We also provide Specialized Medical Services, catering to patients with specific healthcare needs. Our Diagnostic Testing and Imaging services are equipped with state-of-the-art technology to aid in accurate diagnosis. For patients managing chronic diseases, our Chronic Disease Management program offers personalized care plans to help manage their conditions effectively. Furthermore, recognizing the growing need for accessible healthcare, we offer Telehealth and Virtual Consultations, allowing patients to consult with our healthcare professionals from the comfort of their homes.

Based in Omaha, NE, MediTrust Clinic is strategically located to serve the local community effectively. Our presence in Omaha enables us to reach out to and assist a wide range of patients, ensuring they have access to quality medical care close to home.

MediTrust Clinic is uniquely positioned for success for several reasons. Our founder brings invaluable experience from previously running a successful medical practice, ensuring that we’re built on a foundation of proven success. Moreover, our commitment to offering quality primary care and medical services sets us apart from the competition, making us the preferred choice for healthcare in Omaha, NE.

Since our founding on January 6, 2024, as a Sole Proprietorship, we’ve made significant strides in establishing our presence in the healthcare industry. Our accomplishments to date include the creation of our distinctive logo, the development of our unique company name, and securing a prime location for our clinic. These achievements mark the beginning of our journey towards becoming a leading healthcare provider in Omaha, NE.

The Medical Practice industry in the United States is a significant and growing market, with an estimated size of over $200 billion. This industry encompasses a wide range of healthcare providers, including physician offices, outpatient clinics, and urgent care centers, all of which play a crucial role in delivering medical services to patients across the country.

Market research projects a steady growth in the Medical Practice industry in the coming years, with an expected annual growth rate of around 5%. This growth can be attributed to factors such as an aging population, increasing prevalence of chronic diseases, and advances in medical technology, all of which are driving demand for healthcare services and creating opportunities for new providers like MediTrust Clinic.

Recent trends in the Medical Practice industry, such as the shift towards value-based care and the increasing use of telemedicine, are particularly favorable for new entrants like MediTrust Clinic. These trends emphasize the importance of providing high-quality, cost-effective care to patients, which aligns with MediTrust Clinic’s commitment to delivering personalized and accessible healthcare services to the residents of Omaha, NE.

Below is a description of our target customers and their core needs.

Target Customers

MediTrust Clinic will target a diverse range of local residents, encompassing individuals and families seeking primary healthcare services. This broad customer segment is characterized by a need for reliable, accessible healthcare solutions close to home. The clinic will tailor its services to meet the varied healthcare needs of this demographic, ensuring a comprehensive approach to wellness and preventive care.

Additionally, MediTrust Clinic will also focus on serving the elderly population within the community. This segment is in need of specialized care and frequent medical attention. By offering geriatric care and chronic disease management, the clinic will address the specific health concerns prevalent among senior citizens, thus establishing itself as a preferred healthcare provider in the area.

MediTrust Clinic will also cater to the needs of young professionals who often prioritize convenience and efficiency. By incorporating telehealth services and offering flexible appointment schedules, the clinic will attract this busy demographic. This approach is essential for accommodating the healthcare needs of working professionals who might otherwise neglect their health due to tight schedules.

Customer Needs

MediTrust Clinic fulfills a crucial need for high-quality primary care and medical services that residents in the area deeply desire. Patients can expect a comprehensive approach to their health, ensuring that both their immediate and long-term care needs are meticulously addressed. This focus on quality care not only meets but exceeds the expectations of those seeking reliable and thorough medical attention.

In addition to primary care, MediTrust Clinic recognizes the importance of accessibility and convenience for its patients. The clinic provides flexible scheduling options, including the availability of appointments outside of traditional working hours, to accommodate the busy lives of its patients. This commitment to accessibility ensures that individuals can receive the care they need when they need it, without having to compromise their daily responsibilities.

Furthermore, MediTrust Clinic places a strong emphasis on patient education and preventative care, empowering individuals to take an active role in their health management. Patients have access to resources and guidance that help them understand their health conditions and the steps they can take to maintain or improve their well-being. By fostering a partnership between the healthcare provider and the patient, MediTrust Clinic ensures that its patients are equipped with the knowledge and support necessary to achieve optimal health outcomes.

MediTrust Clinic’s competitors include the following companies:

Nebraska Medicine Immediate Care Clinic – Midtown offers a wide range of urgent care services, including treatment for illnesses, minor injuries, and preventative care. Their price points are competitive within the market, aiming to provide affordable care options for individuals without insurance or with high deductibles. The clinic generates substantial revenue by serving a broad customer base, including residents of Omaha and surrounding areas. Key strengths of Nebraska Medicine Immediate Care Clinic – Midtown include its central location, extended hours of operation, and the backing of the Nebraska Medicine network, which ensures access to a wide range of medical specialties. However, a potential weakness is the clinic’s dependency on the larger Nebraska Medicine infrastructure, which could impact flexibility in services and pricing.

South Side Convenient Care caters to urgent and primary care needs, offering services from routine check-ups to treatment for minor emergencies. Their pricing strategy is designed to be transparent and accessible, appealing to families and individuals seeking cost-effective healthcare solutions. The clinic enjoys a steady stream of revenue through a mix of insurance reimbursements and out-of-pocket payments from patients. Located in a residential area of Omaha, South Side Convenient Care primarily serves the local community, providing a convenient healthcare option for those living in the southern part of the city. A key strength is its community-focused approach, which includes personalized care and patient education. However, a limitation is its single location, which may restrict access for patients living further away or in neighboring cities.

Fred & Pamela Buffett Cancer Center specializes in oncology services, offering cutting-edge cancer treatment, research, and support services. Their pricing reflects the specialized nature of their services, with treatments potentially running high due to the use of advanced technologies and therapies. The center generates significant revenue, supported by its reputation as a leading cancer treatment and research facility in the region. It serves a wide geographic area, attracting patients from across Nebraska and neighboring states seeking specialized cancer care. The center’s strengths include its comprehensive approach to cancer treatment, access to the latest research, and a multidisciplinary team of experts. However, the high cost of services and the focus on cancer care exclusively could be seen as limitations for individuals seeking more generalized healthcare services.

Competitive Advantages

At MediTrust Clinic, we pride ourselves on offering quality primary care and medical services that surpass those of our competition. Our commitment to excellence ensures that each patient receives personalized and comprehensive healthcare tailored to their specific needs. By integrating the latest medical technologies and employing highly skilled healthcare professionals, we can diagnose and treat a wide range of conditions more effectively and efficiently. This emphasis on quality and innovation not only enhances the overall patient experience but also significantly improves health outcomes, setting us apart in the competitive healthcare landscape.

Furthermore, our strategic location and flexible scheduling options provide unparalleled convenience to our patients. We understand the importance of accessibility in healthcare, which is why we have made it easier for patients to receive care without the hassle of long wait times or restrictive appointment schedules. Additionally, our holistic approach to healthcare, which combines preventative care, education, and lifestyle support, empowers our patients to take an active role in their health journey. These competitive advantages, coupled with our unwavering dedication to patient satisfaction, position MediTrust Clinic as a leader in the Omaha healthcare market.

Our marketing plan, included below, details our products/services, pricing and promotions plan.

Products and Services

MediTrust Clinic offers a comprehensive range of healthcare services designed to cater to the diverse needs of its clientele. Among the key offerings are Primary Care Services, which form the foundation of the clinic’s healthcare provision. Patients can expect to receive general health check-ups, treatment for acute illnesses, and preventive care. The average cost for a visit under Primary Care Services is around $150, depending on the nature and complexity of the patient’s needs.

In addition to primary care, MediTrust Clinic specializes in offering Specialized Medical Services. These services cater to patients requiring attention in specific medical fields such as cardiology, dermatology, and endocrinology, among others. The cost for these specialized consultations typically starts at $250, varying by specialty and the required level of care.

Understanding the importance of accurate diagnosis, the clinic is equipped with state-of-the-art Diagnostic Testing and Imaging facilities. Services range from routine blood tests to more complex imaging procedures like MRIs and CT scans. Prices for diagnostic tests start at $100, while imaging services begin at $500, reflecting the clinic’s commitment to providing accessible, high-quality diagnostic care.

Chronic Disease Management is another pivotal service offered by MediTrust Clinic. This program is designed for patients with long-term conditions such as diabetes, hypertension, and heart disease. The clinic provides personalized care plans, regular monitoring, and adjustments to treatment as necessary. Patients enrolled in this program can expect to pay an average of $200 per month, which includes ongoing consultations and management plans.

Recognizing the growing need for flexible healthcare delivery, MediTrust Clinic also provides Telehealth and Virtual Consultations. This service allows patients to consult with healthcare professionals via video conferencing, ensuring timely medical advice without the need to visit the clinic physically. The average price for a virtual consultation is set at $100, making it a convenient and cost-effective option for patients seeking quick and professional medical advice.

Overall, MediTrust Clinic is committed to offering a wide range of high-quality medical services at competitive prices, ensuring that patients in Omaha, NE, have access to the care they need when they need it.

Promotions Plan

To attract customers, MediTrust Clinic employs a comprehensive promotional strategy, emphasizing online marketing while incorporating additional effective methods. Online marketing stands as a crucial pillar, with a strong focus on social media platforms such as Facebook, Instagram, and LinkedIn. Through these channels, MediTrust Clinic engages with potential patients by sharing health tips, clinic updates, and patient testimonials. This approach not only builds a community but also establishes trust and credibility among the target audience.

Furthermore, MediTrust Clinic utilizes search engine optimization (SEO) techniques to enhance its visibility in search engine results. This ensures that when potential patients search for medical practices in Omaha, NE, MediTrust Clinic appears among the top results, significantly increasing the likelihood of attracting new patients. Email marketing campaigns also play a vital role in the clinic’s promotional efforts. By sending out regular newsletters that include health advice, service updates, and promotional offers, the clinic maintains ongoing communication with its audience, fostering a strong and loyal patient base.

In addition to online marketing, MediTrust Clinic invests in community engagement initiatives. Participating in local health fairs and sponsoring community events allow the clinic to establish a presence within the community, directly engaging with potential patients in a meaningful way. Networking with other healthcare professionals and local businesses also provides referral opportunities, further expanding the clinic’s reach.

Traditional advertising methods, such as local newspaper ads and radio spots, complement the clinic’s digital marketing efforts. These mediums target a broader audience, ensuring that information about MediTrust Clinic reaches individuals who may not be active online. Moreover, offering an excellent patient experience remains at the core of MediTrust Clinic’s promotional strategy. Word-of-mouth referrals from satisfied patients are invaluable, serving as a testament to the clinic’s quality of care and customer service.

Overall, MediTrust Clinic employs a multifaceted promotional strategy that combines the strengths of online marketing with community engagement and traditional advertising. This approach ensures a broad and effective reach, attracting a diverse patient base to the clinic.

Our Operations Plan details:

• The key day-to-day processes that our business performs to serve our customers
• The key business milestones that our company expects to accomplish as we grow

Key Operational Processes

To ensure the success of MediTrust Clinic, there are several key day-to-day operational processes that we will perform.

• Appointment Scheduling: Efficiently manage patient appointments through an online booking system to ensure patients can easily schedule, reschedule, or cancel appointments.
• Patient Check-In and Registration: Streamline the check-in process with digital forms and ensure all new patients complete their registration paperwork, including medical history and insurance information.
• Insurance Verification: Verify insurance coverage and benefits for each patient before their appointment to streamline billing and minimize claim denials.
• Medical Record Management: Maintain accurate and up-to-date electronic health records (EHR) for all patients, ensuring privacy and compliance with HIPAA regulations.
• Inventory Management: Regularly monitor and restock medical supplies and medications to ensure availability for patient care without overstocking or wastage.
• Financial Management: Manage daily billing operations, including processing patient payments, submitting insurance claims, and following up on unpaid claims.
• Patient Communication: Provide clear and timely communication with patients regarding their appointments, treatment plans, and any necessary follow-up care.
• Quality Control: Implement regular checks and audits to ensure that all clinic operations meet health and safety standards, as well as regulatory compliance.
• Staff Scheduling: Efficiently schedule medical and administrative staff to meet patient demand while optimizing workload and minimizing overtime costs.
• Professional Development: Encourage continuous learning and professional development for all staff to keep up with the latest medical practices and technologies.
• Feedback Collection: Collect and analyze patient feedback to identify areas for improvement and enhance patient satisfaction.
• Cleanliness and Maintenance: Ensure the clinic environment is clean, safe, and well-maintained to provide a comfortable and welcoming atmosphere for patients and staff.

MediTrust Clinic expects to complete the following milestones in the coming months in order to ensure its success:

• Secure a Suitable Location : Identify and acquire a clinic location that is accessible and visible to the target population in Omaha, NE. This location should also comply with zoning laws for medical practices.
• Obtain Necessary Licenses and Permits : Ensure compliance with local, state, and federal regulations by obtaining all necessary licenses and permits required to legally operate a medical practice in Omaha, NE.
• Build Out and Equip the Clinic : Complete the build-out of the clinic space to include patient examination rooms, a waiting area, and office space. Purchase and set up essential medical equipment and technology systems for patient care and records management.
• Hire Qualified Staff : Recruit and hire a team of qualified healthcare professionals (doctors, nurses) and support staff (receptionist, administrative assistants) who share the vision of MediTrust Clinic for providing high-quality patient care.
• Implement an Electronic Health Records (EHR) System : Deploy an EHR system to efficiently manage patient records, appointments, and billing. This system will improve operational efficiency and patient care management.
• Launch Marketing Campaign : Initiate a comprehensive marketing campaign to build awareness of MediTrust Clinic in the Omaha, NE area. This should include digital marketing, community engagement, and partnerships with local organizations.
• Launch Our Medical Practice : Officially open MediTrust Clinic to the public, welcoming patients and beginning to provide medical services.
• Monitor and Adjust Operational Processes : Continuously monitor operational processes and patient feedback to identify areas for improvement. Adjust processes as necessary to improve patient care and clinic efficiency.
• Achieve $15,000/Month in Revenue : Implement strategies to grow the patient base and increase services offered to reach the financial milestone of $15,000 in monthly revenue. This may involve expanding clinic hours, adding new specialties, or enhancing marketing efforts.
• Establish a Patient Retention Program : Develop and implement a patient retention program to encourage repeat visits and long-term relationships with patients. This could include patient education, follow-up care programs, and loyalty incentives. These milestones are designed to systematically address the critical areas of location, legal compliance, clinic setup, staffing, technology implementation, marketing, operational efficiency, revenue growth, and patient retention. Achieving these milestones will significantly mitigate risks and pave the way for the success of MediTrust Clinic in Omaha, NE.

MediTrust Clinic management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:

Owen Evans, CEO

Owen Evans brings a wealth of experience and a proven track record of success to his role as CEO of MediTrust Clinic. His background in running a medical practice stands as testament to his deep understanding of the healthcare industry, its challenges, and opportunities. Owen’s leadership skills, combined with his experience in healthcare management, equip him to steer MediTrust Clinic towards achieving its objectives. His ability to navigate the complex landscape of medical services, while ensuring operational excellence and patient satisfaction, makes him an invaluable asset to the clinic. Owen’s vision for the clinic is not only to provide exceptional care but also to innovate and set new standards in the healthcare field, ensuring the clinic’s lasting success.

MediTrust Clinic requires significant funding to achieve our growth goals and establish ourselves as a leading healthcare provider in Omaha, NE. This funding will be allocated towards clinic setup, technology implementation, staffing, marketing, and operational expenses. Our financial strategy is designed to ensure sustainability and profitability, enabling us to reinvest in our services and continue to meet the evolving healthcare needs of our community.

Financial Statements

Balance sheet.

[insert balance sheet]

Income Statement

[insert income statement]

Cash Flow Statement

[insert cash flow statement]

Medical Practice Business Plan Example PDF

Download our medical practice business plan pdf here. This is a free medical practice business plan example to help you get started on your own medical practice plan.  

How to Finish Your Medical Practice Business Plan in 1 Day!

Don’t you wish there was a faster, easier way to finish your medical practice business plan?

With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

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What are the Elements of a Medical Practice Business Plan? Amanda Gutierrez

Physicians typically generate business plans at two junctures in their practice’s development — when they want loans, or when they want start-up capital. In other words, physicians tend to get serious about a business plan only when they need to go to a bank and ask for money. Knowing the key elements of a business plan will help you construct an effective, comprehensive plan for your medical practice.

Key Elements

What are the key elements of a good business plan? It typically contains four parts:

• Business Description Essentially, this is your medical practice’s mission statement. It could consist of a single sentence, such as, “[T]o run a single-practitioner family medicine practice,” or “[T]o run a single-practitioner orthopedic surgery practice focusing on sports and athletic medicine.”Those examples are rather bare bones. Therefore, it is a good idea to include more details on your intended practice structure, whether you plan to have a partner and whom you expect your target patient population to be. Include your CV or a paragraph with a few more details on how you expect to fulfill your mission.
• Marketing Plan Marketing is a never-ending aspect of running a business, though it carries even more weight when you are starting up your practice. Plan on developing a website and being on social media. Connect to professional networking sites, such as LinkedIn. Make sure you connect with local physicians and introduce yourself as a potential referral doctor. Based on your practice’s focus, you may even want to visit nursing homes or sporting events, or wherever your targeted group of patients might be.In addition, ask any hospital with which you are affiliated to help you market your practice. Pharmaceutical vendors and/or representatives also often assist with marketing efforts. An open house can be another way to introduce your practice to the community.
• Financial Budgets Start-up medical practices need a budget for the business and household. Generally, new practices require about six months of working capital for both the business and the household. The household budget includes how much money you need to live on for six months, including rent or mortgage, taxes, insurance and food. Be generous with yourself, because it is better to estimate on the high end and have more than you need rather than less.The business budget is more complicated and requires you to make decisions about your practice. For example, if you plan to perform surgery, you will need a surgery suite. This will require a larger space and a bigger budget that includes equipment and staff. After you decide the appropriate number of staff, you will need to determine how much to pay them and what types of benefits you will offer.A specialized consultant can help with many of these decisions. A pro forma budget covering expenses and income for the first year makes sense, but it is important to project funds for several years in advance as well.

Staffing Strategy

Management includes you, of course, but the biggest part of your job is to see patients. You will likely need someone to manage your office. Thinking this through will help define your practice, which also will affect your budget. Some questions to ask are:

• Will you hire an office manager or administrator or act as your own — at least at first?
• Will you have one or more nurses?
• Will you have physician assistants or nurse practitioners, and how many?
• Will the staff be part-time or full-time?

Your decisions will affect pay and budget. You will likely need to revisit these questions over time as your practice grows.

That is a plan

These are just the most basic elements of a business plan. You can use them to establish the direction of your practice and calculate how much money you will need to start operating. By getting professional advice, generating a business plan early and revisiting it as your practice changes, you will be able to stay ahead of the curve in this rapidly evolving business.

For more information, contact Amanda Gutierrez at [email protected]  or call her at 312.670.7444. Visit  ORBA.com  to learn more about our  Health Care Group . © 2018

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Medical Clinic and Practice Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Hospital and Clinic

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

1. industry overview.

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 healthcare 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 healthcare 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 healthcare 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 healthcare 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.

3. Our Products and Services

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 healthcare 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

4. Our Mission and Vision Statement

• 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 healthcare 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 healthcare 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

5. Job Roles and Responsibilities

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

6. SWOT Analysis

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 healthcare 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 healthcare 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 healthcare services has steadily grown over the last five years, as healthcare reform legislation broadened insurance coverage.

As an investor in the hospital cum healthcare 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 healthcare services.

8. Our Target Market

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 healthcare 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 healthcare 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.

9. SALES AND MARKETING STRATEGY

• 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;

10. Sales Forecast

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 healthcare 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 healthcare services at affordable prices compared to what is obtainable in Florida.

We know that if we are consistent in offering high quality healthcare 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 healthcare 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

11. Publicity and Advertising Strategy

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.

12. Our Pricing Strategy

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 healthcare 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 healthcare service providers to bill their clients based in their discretion.

In some cases, hospitals and healthcare 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.

14. Sustainability and Expansion Strategy

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 healthcare 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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Starting a medical clinic: 5 common business plan mistakes to avoid

Last updated: 19 / 03 / 24

A strategic approach to your business plan can ensure your medical clinic is not only up and running smoothly, but continues to grow and achieve optimum patient outcomes. Avoid these common pitfalls and you’ll be on your way to starting a medical clinic primed for success.

In this article, you’ll discover more about these five business plan mistakes (so you don’t make them yourself):

• Working with an ill-determined business structure can hinder your practice growth and your ability to obtain finance.
• By starting too early , you could miss steps in the process or valuable opportunities.
• Choosing finance too quickly might limit your practice in the early stages or as you grow.
• Failing to look ahead could mean your practice is not as agile or sustainable in the future.
• Over-complicating your business plan can slow you down in the long run as your practice evolves. 

Here’s what to avoid when starting a medical clinic

1. don’t: use an ill-determined business structure.

When starting a medical clinic, your plan needs to evaluate your business structure, staffing needs, local and regional competitors, as well as the short-term, mid, and long-term goals for your practice growth.

If the answers to these are not clear from the outset, you won’t be able to communicate your plan effectively to staff and stakeholders such as banks and investors. The latter could significantly impact your ability to obtain finance, or the finance of your choice.

Instead: Do your research.

Read up on tips and advice from those who have been there before ( our free checklist  is a great place to start). If you know others who have started a clinic, chat to them. Otherwise, we can set up a conversation with an expert practice consultant  for you.

2. Don’t: Skimp on the planning

Starting a practice takes time and patience. Don’t be so eager to take the leap to start out on your own without ensuring you plan well ahead. Whether you’re starting a medical clinic from scratch or restructuring your existing practice, any planning takes time.

Failing to develop your plan early enough could mean you miss valuable steps in evaluating each part of your practice in the detail and care it needs, giving rise to potential missed opportunities.

Instead: Take your time.

Things will take longer than you think. And even when staff, stakeholders, and finances look promising, unforeseen delays do happen. There’s certainly nothing you can do to speed up administrative processes like credentials and licensing.

3. Don’t: Decide on finance too quickly

Most practices require a financial structure and a loan from a bank or financial institution. Failing to shop around for the right finance option can limit your options both at the start, and in the future, as the practice grows. Try to examine at least three different options in terms of loan structures, interest rates, fees, and terms and conditions relevant to securing the fund your practice needs.

Instead: Shop around and compare.

Your future self with thank you for taking the time to compare options. Don’t get locked into an arrangement you’re stuck with, that doesn’t suit the needs of your practice.

4. Don’t: Fail to future-proof your clinic

In the early stages of a practice, everything you choose to spend money on is an investment. Making the right decisions to future-proof your practice can have a huge impact as you evolve to adapt to today’s digital and data-enabled health ecosystem.

Before installing the latest equipment or software, do a cost-benefit analysis and see what solution can really give you true value – or help generate efficiencies and cost savings to help drive additional revenue.

For instance, with set up in as little as two weeks, Helix, a cloud-based practice management software solution from MedicalDirector, allowed  We Care Medical Centre  to work with an easy-to-use, flexible and mobile solution from the very start. Helix, a cloud-based practice management software solution from MedicalDirector, was set up in just two weeks. It has since given the team more time to focus on growing the practice and delivering better patient care.

Instead: Think ahead.

While it’s easy to get swept up by the momentum of getting started, it pays to sense-check your decisions. Remember, you’re not just making decisions for now, but you want to make sure to future-proof your practice as best you can.

5. Don’t: Over-complicate your plan

The best business plans are simple, agile and offer scope for scalability. As a start, you need to consider as a foundational exercise:

• How many patients you expect to visit your clinic each week
• Whether you will need any referrals
• How you will target new patients
• The patient demographics in your region
• Setting your fees and charges
• Your projected weekly income.

Instead: Get advice.

You don’t need to do this step alone. Get as much professional advice as you need from the appropriate medical networks and associations in the early days. This will ensure your plan is well-defined, transparent and aligned with your ultimate vision for your new practice.

To find out more, download our free ebook:  ‘The Smart Guide to Starting a Medical Practice.’

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Ready to start a practice? Chat to an expert practice consultant about your needs today.

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Healthcare Business Plan Template

Written by Dave Lavinsky

Healthcare Business Plan

You’ve come to the right place to create your Healthcare business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Healthcare companies.

Below is a template to help you create each section of your Healthcare business plan.

Executive Summary

Business overview.

Riverside Medical is a family medical clinic located in San Francisco, California. Our goal is to provide easy access to quality healthcare, especially for members of the community who have low to moderate incomes. Our clinic provides a wide range of general and preventative healthcare services, including check-ups, minor surgeries, and gynecology. Anyone of any age or group is welcome to visit our clinic to get the healthcare that they need.

Our medical practitioners and supporting staff are well-trained and have a passion for helping improve the health and well-being of our clients. We serve our patients not just with our knowledge and skills but also with our hearts. Our clinic was founded by Samantha Parker, who has been a licensed doctor for nearly 20 years. Her experience and compassion will guide us throughout our mission.

Product Offering

Riverside Medical will provide extensive general care for all ages, creating a complete healthcare solution. Some of the services included in our care include the following:

• Primary care: annual checkups, preventative screenings, health counseling, diagnosis and treatment of common conditions
• Gynecology: PAP tests, annual well-woman exam, and family planning
• Pediatrics: infant care, annual physicals, and immunizations
• Minor procedures: stitches, casts/splints, skin biopsies, cyst removals, and growth lacerations
• Health and wellness: weight loss strategies, nutrition guidance, hormone balance, and preventive and routine services

The costs will depend upon the materials used, the physician’s time, and the amount designated for each procedure. Medical bills will be billed either directly to the patient or to their insurance provider.

Customer Focus

Riverside Medical will primarily serve the community living and working within the San Francisco bay area. The city is diverse and growing and includes people of all ages, ethnicities, and backgrounds. Everyone is welcome to visit our clinic to receive the health care they need.

Management Team

Riverside Medical’s most valuable asset is the expertise and experience of its founder, Samantha Parker. Samantha has been a licensed family doctor for 20 years now. She spent the most recent portion of her career on medical mission trips, where she learned that many people are not privileged to have access to quality medical services. Samantha will be responsible for ensuring the general health of her patients and creating a viable and profitable business medical practice.

Riverside Medical will also employ nurses, expert medical staff, and administrative assistants that also have a passion for healthcare.

Success Factors

Riverside Medical will be able to achieve success by offering the following competitive advantages:

• Location: Riverside Medical’s location is near the center of town. It’s visible from the street with many people walking to and from work on a daily basis, giving them a direct look at our clinic, most of which are part of our target market.
• Patient-oriented service: Riverside Medical will have a staff that prioritizes the needs of the patients and educates them on the proper way how to take care of themselves.
• Management: Samantha Parker has a genuine passion for helping the community, and because of her previous experience, she is fully equipped and overqualified to open this practice. Her unique qualifications will serve customers in a much more sophisticated manner than our competitors.
• Relationships: Having lived in the community for 25 years, Samantha Parker knows many of the local leaders, newspapers, and other influences. Furthermore, she will be able to draw from her ties to previous patients from her work at other clinics to establish a starting clientele.

Financial Highlights

Riverside Medical is seeking a total funding of $800,000 of debt capital to open its clinic. The capital will be used for funding capital expenditures and location build-out, acquiring basic medical supplies and equipment, hiring initial employees, marketing expenses, and working capital.

Specifically, these funds will be used as follows:

• Clinic design/build: $100,000
• Medical supplies and equipment: $150,000
• Six months of overhead expenses (rent, salaries, utilities): $450,000
• Marketing: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for Riverside Medical.

Company Overview

Who is riverside medical, riverside medical history.

Samantha Parker started the clinic with the goal of providing easy access to good quality health service, especially to those members of the community with low to moderate income. After years of planning, she finally started to build Riverside Medical in 2022. She gathered a group of professionals to fund the project and was able to incorporate and register Riverside Medical with their funding support.

Since its incorporation, Riverside Medical has achieved the following milestones:

• Found clinic space and signed Letter of Intent to lease it
• Developed the company’s name, logo, and website
• Hired a contractor for the office build-out
• Determined equipment and fixture requirements
• Began recruiting key employees with previous healthcare experience
• Drafted marketing campaigns to promote the clinic

Riverside Medical Services

Industry analysis.

The global healthcare market is one of the largest and highest-valued industries in the world. According to Global Newswire, the global healthcare services market is currently valued at $7548.52 billion and is expected to reach $10414.36 billion in 2026. This growth is expected to continue for the foreseeable future.

The biggest drivers of industry growth throughout the next decade will be a continual increase in illnesses and diseases as well as a quickly aging population. With more people aging and needing daily/frequent care, hospitals and medical clinics are bound to be in even more demand than they already are.

One obstacle for the industry is the rising cost of care. Though this results in greater profits, more and more Americans cannot afford basic medical care. Therefore, they are opting out of procedures they believe are unnecessary or unimportant.

Despite the challenges of the next decade, the industry is still expected to see substantial growth and expansion.

Customer Analysis

Demographic profile of target market.

Riverside Medical will serve the residents of the San Francisco bay area as well as those who work in the area.

The population of the area experiences a large income gap between the highest earners and the lowest earners. Therefore, it is hard for middle and lower-class families to find quality care that is affordable. As a result, they are in need of the services that we offer and are looking for accessible medical care.

The precise demographics of San Francisco are as follows:

Customer Segmentation

Our clinic is a general family practice and will treat patients of all ages, incomes, physical abilities, races, and ethnicities. As such, there is no need to create marketing materials targeted at only one or two of these groups, but we can appeal to all with a similar message.

Competitive Analysis

Direct and indirect competitors.

Riverside Medical will face competition from other companies with similar business profiles. A description of each competitor company is below.

City Medical

Founded in 2008, City Medical is a membership-based, primary-care practice in the heart of the city. City Medical offers a wide range of primary care services for patients who subscribe to the practice for an annual fee. Patients enjoy personalized care, including office visits, as well as the diagnosis and treatment of common health problems. The patient membership fee covers the services listed below, and most care is received in-office. However, some additional services, such as lab testing and vaccinations, are billed separately. Furthermore, though the annual fee is convenient for some, it is too high for many families, so many are priced out of care at this facility.

Bay Doctors

Bay Doctors is a primary care practice that provides highly personalized medical care in the office or patients’ homes. Bay Doctors includes a team of dedicated healthcare professionals with dual residency in Emergency Medicine and Internal Medicine. The practice offers same-day/next-day appointments, telemedicine, office visits, and home visits. Some of the medical care services they provide are primary care, urgent care, emergency care, gynecology, pediatrics, and minor procedures.

Community Care

Established in 1949, Community Care is a non-profit regional healthcare provider serving the city and surrounding suburbs. This facility offers a wide variety of medical services, including 24-hour emergency care, telemedicine, primary care, and more. In addition to their medical care, they have a wide variety of fundraising activities to raise money to operate the hospital and help families cover the costs of their care.

Competitive Advantage

Riverside Medical enjoys several advantages over its competitors. These advantages include:

Marketing Plan

Brand & value proposition.

The Riverside Medical brand will focus on the company’s unique value proposition:

• Client-focused healthcare services, where the company’s interests are aligned with the customer
• Service built on long-term relationships
• Big-hospital expertise in a small-clinic environment

Promotions Strategy

The promotions strategy for Riverside Medical is as follows:

Riverside Medical understands that the best promotion comes from satisfied customers. The company will encourage its patients to refer their friends and family by providing healthcare benefits for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Direct Mail

The company will use a direct mail campaign to promote its brand and draw clients, as well. The campaign will blanket specific neighborhoods with simple, effective mail advertisements that highlight the credentials and credibility of Riverside Medical.

Website/SEO

Riverside Medical will invest heavily in developing a professional website that displays all of the clinic’s services and procedures. The website will also provide information about each doctor and medical staff member. The clinic will also invest heavily in SEO so the brand’s website will appear at the top of search engine results.

Social Media

Riverside Medical will invest heavily in a social media advertising campaign. The marketing manager will create the company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Riverside Medical’s pricing will be lower than big hospitals. Over time, client testimonials will help to maintain our client base and attract new patients. Furthermore, we will be able to provide discounts and incentives for lower-income families by connecting with foundations and charities from people who are interested in helping.

Operations Plan

The following will be the operations plan for Riverside Medical.

Operation Functions:

• Samantha Parker is the founder of Riverside Medical and will operate as the sole doctor until she increases her patient list and hires more medical staff. As the clinic grows, she will operate as the CEO and take charge of all the operations and executive aspects of the business.
• Samantha is assisted by Elizabeth O’Reilly. Elizabeth has experience working as a receptionist at a fast-paced hospital and will act as the receptionist/administrative assistant for the clinic. She will be in charge of the administrative and marketing aspects of the business.
• Samantha is in the process of hiring doctors, nurses, and other medical staff to help with her growing patient list.

Milestones:

The following are a series of path steps that will lead to the vision of long-term success. Riverside Medical expects to achieve the following milestones in the following twelve months:

3/202X Finalize lease agreement

5/202X Design and build out Riverside Medical location

7/202X Hire and train initial staff

9/202X Kickoff of promotional campaign

11/202X Reach break-even

1/202X Reach 1000 patients

Financial Plan

Key revenue & costs.

Riverside Medical’s revenues will come primarily from medical services rendered. The clinic will either bill the patients directly or their insurance providers.

The major cost drivers for the clinic will include labor expenses, lease costs, equipment purchasing and upkeep, and ongoing marketing costs.

Funding Requirements and Use of Funds

Key assumptions.

Below are the key assumptions required to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Year 1: 120
• Year 2: 150
• Year 3: 200
• Year 4: 275
• Year 5: 400
• Annual lease: $50,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Healthcare Business Plan FAQs

What is a healthcare business plan.

A healthcare business plan is a plan to start and/or grow your healthcare business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Healthcare business plan using our Healthcare Business Plan Template here .

What are the Main Types of Healthcare Businesses?

There are a number of different kinds of healthcare businesses , some examples include: Nursing care, Physical home health care, or Home health care aides:

How Do You Get Funding for Your Healthcare Business Plan?

Healthcare businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Healthcare Business?

Starting a healthcare business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Healthcare Business Plan - The first step in starting a business is to create a detailed healthcare business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your healthcare business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your healthcare business is in compliance with local laws.

3. Register Your Healthcare Business - Once you have chosen a legal structure, the next step is to register your healthcare business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your healthcare business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Healthcare Equipment & Supplies - In order to start your healthcare business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your healthcare business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Other Helpful Business Plan Templates

Nonprofit Business Plan Template Non-Emergency Medical Transportation Business Plan Template Medical Practice Business Plan Template Home Health Care Business Plan Template

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Clinic Business Plan Template

Document description.

This clinic business plan template has 31 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our clinic business plan template:

[YOUR COMPANY NAME] [YOUR NAME] - [YOUR TITLE] [ADDRESS] [YOUR CITY], [YOUR STATE/PROVINCE], [YOUR ZIP/POSTAL CODE] [YOUR PHONE NUMBER] [YOUR FAX NUMBER] [[email protected]] [YOUR WEBSITE ADDRESS] BUSINESS PLAN

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Medical Center Business Plan and SWOT Analysis

Medical Center Business Plan, Marketing Plan, How To Guide, and Funding Directory

The Medical Center Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Medical Center business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.

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Medical & Health Business Plans

Dental practice business plans.

• Dental Office Business Plan

Health Administration Business Plans

• Benefits Administration Business Plan
• Health Plan Administration Business Plan
• Medical Billing Business Plan

Medical Equipment Business Plans

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• Hearing Testing Systems Business Plan
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• Medicine Dispenser Business Plan
• Medical Equipment - Supplies Business Plan
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• Sports Medical Equipment Business Plan
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• Voice Recognition Software Business Plan

Medical Practice Business Plans

• Chiropractic Business Plan
• Chiropractic Clinic Business Plan
• Chiropractic Services Business Plan
• Family Chiropractic Business Plan
• Family Medicine Clinic Business Plan
• Occupational Health Business Plan
• Physical Therapy Massage Business Plan
• Psychological Health Center Business Plan
• Sports Therapy Business Plan
• Home Health Care Business Plan

Medical Support & Laboratories Business Plans

• Dental Laboratories Business Plan
• Laboratory Business Plan
• Medical Internet Marketing Business Plan
• Medical Language Translation Business Plan
• Medical Scanning Lab Business Plan
• Medical Services Management Business Plan
• Medical Software Business Plan
• Medical Transcription Business Plan
• Personnel Management Business Plan

Nursing Home Business Plans

• Home Health Care Services Business Plan
• Nursing Home Business Plan

Pharmacy Business Plans

• Agriculture Farm Business Plan
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Psychological Therapy Business Plans

Veterinary practice business plans.

• Horse Training Business Plan
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5 best health insurance companies for small businesses

More and more people are deciding to become entrepreneurs. Approximately 19% of working-age adults in the U.S. were in the process of starting a business or running a business less than 42 months old, according to the 2023 Global Entrepreneurship Monitor report.

As your business grows and you bring on workers, you may need to provide benefits. Businesses with fewer than 50 employees aren’t required by law to provide health insurance benefits, but health insurance is a highly-desired benefit. To attract and maintain a talented workforce, providing benefits may be essential. 

We identified the leading providers based on their availability, plan options and customer satisfaction ratings (see our full methodology ): 

The 5 best small business health insurance providers for 2024

Best overall: blue cross blue shield, best for added benefits: kaiser permanente.

• Best for Micro businesses: UnitedHealthcare

Best for Small to Midsize Companies: Cigna

Best for comparison shopping: small business health options program (shop).

*Last updated March 12, 2024

If you’re shopping for coverage, finding the right provider can be daunting. To help you narrow down your options, we selected the five top providers of small business health insurance: 

Blue Cross Blue Shield

Our verdict

Blue Cross Blue Shield is one of the few providers that has insurance options in all 50 states, so it’s a good choice for businesses nationwide. Its independent BCBS companies typically have options for small to midsize companies. Whether you have one employee or 100, you can likely get coverage through BCBS, and you can choose a network plan that fits your budget and employee needs. 

Kaiser Permanente

Our verdict 

If you live in one of the states where Kaiser Permanente operates, it can be a good choice for employers looking to offer robust coverage to their employees as a recruitment or retention tool. With its plans, you can give your employees the convenience of telehealth visits and supplemental benefits, including acupuncture, chiropractic care, and dental and vision coverage. 

Best for Micro Businesses: UnitedHealthcare

Unitedhealthcare.

UnitedHealthcare is best for micro business owners, or those who own a business with fewer than 10 employees. Its small business store is available to small business owners with two to 50 employees, and you can use the tool to get quotes and see what deductible, copay and premium amounts are common in your area. If you find coverage that suits your needs, you can purchase coverage directly through the store. 

If you have a growing business, Cigna could be a useful option. Whereas some providers only offer coverage for employers with fewer than 50 employees, Cigna has options for small to midsize businesses, allowing you to get coverage for up to 499 employees. Its plans include benefits like virtual care and it offers multiple plan tiers, including high-deductible health plans. 

Small Business Health Options Program (SHOP)

SHOP is a marketplace that was created through the Affordable Care Act (ACA). Through SHOP, employers can compare plans and prices from leading providers in their area. With SHOP, you can control how much you pay toward employee premiums, and you may be eligible for valuable tax credits that are only available to employers who enroll in SHOP plans. 

What to know about health insurance for small businesses

If you are a business owner with 50 or more employees, the law requires you to offer coverage to your employees. 

By contrast, those with fewer than 50 employees aren’t required to provide health insurance. But even if you aren’t legally obligated to provide coverage, it can be a smart idea as a recruitment and retention tool. In fact, studies, including one conducted by Avalere Health and funded by the U.S. Chamber of Commerce, have shown that offering health insurance benefits produces a strong return on investment and increased productivity.  

You may also qualify for valuable tax credits if you offer health insurance benefits. The Small Business Health Care Tax Credit is worth up to 50% of the costs of your employees’ premiums. To qualify for the tax credit, your business must meet the following criteria: 

• You have fewer than 25 full-time employees
• The average annual salary of your workers is about $56,000 or less
• You cover at least 50% of your employees’ premiums 
• You offer coverage through SHOP to all of your full-time employees 

How to choose a small business health insurance company

When shopping for a small business health insurance provider, consider the following variables: 

Employee size: Each provider has its own employee requirements. In general, you’ll need between one and 50 employees to qualify for small business health insurance. 

Availability: While some providers offer coverage nationwide, others are more limited in scope, only issuing policies in certain states. Similarly, some plans allow workers to receive care in any state, but some plans have more restrictive local networks. 

Customer support tools: Most insurance providers require you to work with an agent or broker to get details about cost and plan options. But some companies have online tools and platforms that allow you to get quotes and view your options on your own.

Networks: Insurance providers offer plans with different network types. Depending on the provider, you may be able to provide your workers with the following options:

• Exclusive Provider Organization (EPO): EPOs are managed care plans that only cover services if you visit healthcare providers and hospitals within the network. 
• Health Maintenance Organization (HMO): With an HMO, you’re limited to care within the network, and you must get a referral to visit a specialist. HMOs tend to be the lowest-cost option. 
• Point of Service (POS): POS plans are less expensive if you use in-network providers, but you need a referral to visit a specialist. 
• Preferred Provider Organization (PPO): PPOs are often more expensive, but they give covered persons more flexibility. In-network providers are less expensive, but you can visit out-of-network providers, and you can see a specialist without a referral. 

There’s a lot to consider when it comes to business insurance, not just health insurance for your business. Our comprehensive guide breaks down the types of insurance options — from BOP’s to general liability and others — to help you understand which policy watches your needs. We have also compiled the best insurance companies for small businesses . If you operate a jewelry retail business, you may want to consider Jewelers Mutual’s business insurance specifically designed for jewelers.

Frequently asked questions

How much does health insurance cost a small business for each of their employees.

The cost of health insurance for small business employees will vary based on a number of factors including types of plans, risk to injuries, and region in the country. According to a 2023 KFF report , the average costs per employee per month is $690.

Do I have to provide health insurance to my employees? 

You only have to provide health insurance to your employees if you have 50 or more full-time workers. Those with fewer than 50 employees aren’t legally required to offer coverage, but you may be eligible for valuable tax benefits if you do. 

What are the penalties for not offering health benefits? 

Employers with 50 employees or more that don’t offer coverage that meets minimum value and affordability standards may incur penalties. Depending on what coverage you offer, the penalty ranges from $247.50 to $371.67 per month, per full-time employee. 

What do entrepreneurs do for health insurance? 

If you don’t have any employees, you won’t qualify for group plans from small business insurance providers. However, you may be eligible for an individual health insurance plan through Healthcare.gov or your state health insurance marketplace. 

Our methodology  

We evaluated seven leading providers and marketplaces of small business health insurance. To make our selections, we evaluated each company on the following criteria: 

• Availability: Preference was given to companies operating in the majority of states. 
• Employee minimums: We looked for companies with low employee minimums, offering coverage to businesses with just one or two employees. 
• Product options: We focused on companies with multiple insurance plans, including multiple network options and tiers of coverage. 
• Customer satisfaction: Priority was given to companies with high ratings from the National Committee for Quality Assurance Ratings.

EDITORIAL DISCLOSURE : The advice, opinions, or rankings contained in this article are solely those of the Fortune Recommends ™ editorial team. This content has not been reviewed or endorsed by any of our affiliate partners or other third parties.

• Sample Business Plans
• Medical & Health Care

Medical Lab Business Plan

A hundred billion dollar medical lab industry features an ever-increasing demand. With a promise of higher returns, it indeed is a rewarding business venture to undertake.

Starting a medical lab is no easy feat. The licensing requirements are stringent and the startup costs are high. However, with a detailed business plan, securing the funding and scaling it into a lucrative business gets easy.

Need help writing a business plan for your medical lab? You’re at the right place. Our medical lab business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write A Medical Lab Business Plan?

Writing a medical lab business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your Business:

Start your executive summary by briefly introducing your business to your readers.

Market Opportunity:

Products and services:.

Highlight the laboratory services you offer your clients. The USPs and differentiators you offer are always a plus.

For instance, you may include specimen collection, diagnostic testing, clinical research, and trials as services and mention fast turnaround time and advanced technology as some of your USPs.

Marketing & Sales Strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business Description:

Describe your business in this section by providing all the basic information:

Describe what kind of medical lab you run and the name of it. You may specialize in one of the following medical lab businesses:

• Molecular diagnostics lab
• Clinical pathology lab
• Microbiology lab
• Clinical Research and trial lab
• Describe the legal structure of your medical lab, whether it is a sole proprietorship, LLC, partnership, or others. Explain where your business is located and why you selected the place.

Mission Statement:

Business history:.

If you’re an established medical laboratory service provider, briefly describe your business history, like—when it was founded, how it evolved over time, etc.

Future Goals:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

Start this section by describing your target market. Define your ideal customer and explain what types of services they prefer. Creating a buyer persona will help you easily define your target market to your readers.

Market size and growth potential:

Describe your market size and growth potential and whether you will target a niche or a much broader market.

Competitive Analysis:

Market trends:.

Analyze emerging trends in the industry, such as technology disruptions by Artificial Intelligence and Machine Learning, etc. Explain how your business will cope with all the trends.

Regulatory Environment:

Here are a few tips for writing the market analysis section of your medical lab business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your services:

Mention the medical lab services your business will offer. The list of services for clinical pathology may include,

• Blood tests
• Urine tests
• Allergy tests
• Cholesterol and Blood sugar tests
• Thyroid tests

Quality measures:

This section should explain how you maintain quality standards and consistently provide the highest quality service.

Additional Services:

In short, this section of your medical lab plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique Selling Proposition (USP):

Define your business’s USPs depending on the market you serve, the equipment you use, and the unique services you provide. Identifying USPs will help you plan your marketing strategies.

Pricing Strategy:

Marketing strategies:, sales strategies:, customer retention:.

Overall, this section of your medical laboratory business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your medical lab business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & Training:

Operational process:, equipment & machinery:.

Include the list of equipment and machinery required for the medical lab, such as microscopes, DNA analyzers, refrigerators, incubators, autoclaves, consumables, etc.

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your medical lab business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founders/CEO:

Key managers:.

Introduce your management and key members of your team, and explain their roles and responsibilities.

Organizational structure:

Compensation plan:, advisors/consultants:.

Mentioning advisors or consultants in your business plans adds credibility to your business idea.

This section should describe the key personnel for your medical lab services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should provide a summary of your business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

Determine and mention your business’s break-even point—the point at which your business costs and revenue will be equal.

Financing Needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the medical lab industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your medical lab business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample medical lab business plan will provide an idea for writing a successful medical lab plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our medical lab business plan pdf .

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Frequently asked questions, why do you need a medical lab business plan.

A business plan is an essential tool for anyone looking to start or run a successful medical lab business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your medical lab company.

How to get funding for your medical lab business?

There are several ways to get funding for your medical lab, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your medical lab business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your laboratory business plan and outline your vision as you have in your mind.

How do I write a good market analysis in a medical lab business plan?

Market analysis is one of the key components of your business plan that requires deep research and a thorough understanding of your industry. We can categorize the process of writing a good market analysis section into the following steps:

• Stating the objective of your market analysis—e.g., investor funding.
• Industry study—market size, growth potential, market trends, etc.
• Identifying target market—based on user behavior and demographics.
• Analyzing direct and indirect competitors.
• Calculating market share—understanding TAM, SAM, and SOM.
• Knowing regulations and restrictions
• Organizing data and writing the first draft.

Writing a marketing analysis section can be overwhelming, but using ChatGPT for market research can make things easier.

How detailed should the financial projections be in my medical lab business plan?

The level of detail of the financial projections of your medical lab business may vary considering various business aspects like direct and indirect competition, pricing, and operational efficiency. However, your financial projections must be comprehensive enough to demonstrate a comprehensive view of your financial performance.

Generally, the statements included in a business plan offer financial projections for at least the first three or five years of business operations.

Can a good medical lab business plan help me secure funding?

Indeed. A well-crafted medical lab business plan will help your investors better understand your business domain, market trends, strategies, business financials, and growth potential—helping them make better financial decisions.

So, if you have a profitable and investable business, a comprehensive business plan can certainly help you secure your business funding.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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FACT SHEET: President   Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade   Practices

President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses.   The Biden-Harris Administration’s Investing in America agenda has already catalyzed more than $860 billion in business investments through smart, public incentives in industries of the future like electric vehicles (EVs), clean energy, and semiconductors. With support from the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, these investments are creating new American jobs in manufacturing and clean energy and helping communities that have been left behind make a comeback.   As President Biden says, American workers and businesses can outcompete anyone—as long as they have fair competition. But for too long, China’s government has used unfair, non-market practices. China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80, and even 90 percent of global production for the critical inputs necessary for our technologies, infrastructure, energy, and health care—creating unacceptable risks to America’s supply chains and economic security. Furthermore, these same non-market policies and practices contribute to China’s growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities.   Today’s actions to counter China’s unfair trade practices are carefully targeted at strategic sectors—the same sectors where the United States is making historic investments under President Biden to create and sustain good-paying jobs—unlike recent proposals by Congressional Republicans that would threaten jobs and raise costs across the board. The previous administration’s trade deal with China  failed  to increase American exports or boost American manufacturing as it had promised. Under President Biden’s Investing in America agenda, nearly 800,000 manufacturing jobs have been created and new factory construction has doubled after both fell under the previous administration, and the trade deficit with China is the lowest in a decade—lower than any year under the last administration.   We will continue to work with our partners around the world to strengthen cooperation to address shared concerns about China’s unfair practices—rather than undermining our alliances or applying indiscriminate 10 percent tariffs that raise prices on all imports from all countries, regardless whether they are engaged in unfair trade. The Biden-Harris Administration recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition.   Following an in-depth review by the United States Trade Representative, President Biden is taking action to protect American workers and American companies from China’s unfair trade practices. To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products.   Steel and Aluminum   The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024.   Steel is a vital sector for the American economy, and American companies are leading the future of clean steel. Recently, the Biden-Harris Administration announced $6 billion for 33 clean manufacturing projects including for steel and aluminum, including the first new primary aluminum smelter in four decades, made possible by the Bipartisan Infrastructure Law and the Inflation Reduction Act. These investments will make the United States one of the first nations in the world to convert clean hydrogen into clean steel, bolstering the U.S. steel industry’s competitiveness as the world’s cleanest major steel producer.   American workers continue to face unfair competition from China’s non-market overcapacity in steel and aluminum, which are among the world’s most carbon intensive. China’s policies and subsidies for their domestic steel and aluminum industries mean high-quality, low-emissions U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions. Today’s actions will shield the U.S. steel and aluminum industries from China’s unfair trade practices.   Semiconductors   The tariff rate on semiconductors will increase from 25% to 50% by 2025.   China’s policies in the legacy semiconductor sector have led to growing market share and rapid capacity expansion that risks driving out investment by market-driven firms. Over the next three to five years, China is expected to account for almost half of all new capacity coming online to manufacture certain legacy semiconductor wafers. During the pandemic, disruptions to the supply chain, including legacy chips, led to price spikes in a wide variety of products, including automobiles, consumer appliances, and medical devices, underscoring the risks of overreliance on a few markets.   Through the CHIPS and Science Act, President Biden is making a nearly $53 billion investment in American semiconductor manufacturing capacity, research, innovation, and workforce. This will help counteract decades of disinvestment and offshoring that has reduced the United States’ capacity to manufacture semiconductors domestically. The CHIPS and Science Act includes $39 billion in direct incentives to build, modernize, and expand semiconductor manufacturing fabrication facilities as well as a 25% investment tax credit for semiconductor companies. Raising the tariff rate on semiconductors is an important initial step to promote the sustainability of these investments.   Electric Vehicles (EVs)   The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024.   With extensive subsidies and non-market practices leading to substantial risks of overcapacity, China’s exports of EVs grew by 70% from 2022 to 2023—jeopardizing productive investments elsewhere. A 100% tariff rate on EVs will protect American manufacturers from China’s unfair trade practices.   This action advances President Biden’s vision of ensuring the future of the auto industry will be made in America by American workers. As part of the President’s Investing in America agenda, the Administration is incentivizing the development of a robust EV market through business tax credits for manufacturing of batteries and production of critical minerals, consumer tax credits for EV adoption, smart standards, federal investments in EV charging infrastructure, and grants to supply EV and battery manufacturing. The increase in the tariff rate on electric vehicles will protect these investments and jobs from unfairly priced Chinese imports.   Batteries, Battery Components and Parts, and Critical Minerals   The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024.   The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024.   Despite rapid and recent progress in U.S. onshoring, China currently controls over 80 percent of certain segments of the EV battery supply chain, particularly upstream nodes such as critical minerals mining, processing, and refining. Concentration of critical minerals mining and refining capacity in China leaves our supply chains vulnerable and our national security and clean energy goals at risk. In order to improve U.S. and global resiliency in these supply chains, President Biden has invested across the U.S. battery supply chain to build a sufficient domestic industrial base. Through the Bipartisan Infrastructure Law, the Defense Production Act, and the Inflation Reduction Act, the Biden-Harris Administration has invested nearly $20 billion in grants and loans to expand domestic production capacity of advanced batteries and battery materials. The Inflation Reduction Act also contains manufacturing tax credits to incentivize investment in battery and battery material production in the United States. The President has also established the American Battery Materials Initiative, which will mobilize an all-of-government approach to secure a dependable, robust supply chain for batteries and their inputs.   Solar Cells   The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024.   The tariff increase will protect against China’s policy-driven overcapacity that depresses prices and inhibits the development of solar capacity outside of China. China has used unfair practices to dominate upwards of 80 to 90% of certain parts of the global solar supply chain, and is trying to maintain that status quo. Chinese policies and nonmarket practices are flooding global markets with artificially cheap solar modules and panels, undermining investment in solar manufacturing outside of China.   The Biden-Harris Administration has made historic investments in the U.S. solar supply chain, building on early U.S. government-enabled research and development that helped create solar cell technologies. The Inflation Reduction Act provides supply-side tax incentives for solar components, including polysilicon, wafers, cells, modules, and backsheet material, as well as tax credits and grant and loan programs supporting deployment of utility-scale and residential solar energy projects. As a result of President Biden’s Investing in America agenda, solar manufacturers have already announced nearly $17 billion in planned investment under his Administration—an 8-fold increase in U.S. manufacturing capacity, enough to supply panels for millions of homes each year by 2030.   Ship-to-Shore Cranes   The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024.   The Administration continues to deliver for the American people by rebuilding the United States’ industrial capacity to produce port cranes with trusted partners. A 25% tariff rate on ship-to-shore cranes will help protect U.S. manufacturers from China’s unfair trade practices that have led to excessive concentration in the market. Port cranes are essential pieces of infrastructure that enable the continuous movement and flow of critical goods to, from, and within the United States, and the Administration is taking action to mitigate risks that could disrupt American supply chains. This action also builds off of ongoing work to invest in U.S. port infrastructure through the President’s Investing in America Agenda. This port security initiative includes bringing port crane manufacturing capabilities back to the United States to support U.S. supply chain security and encourages ports across the country and around the world to use trusted vendors when sourcing cranes or other heavy equipment.   Medical Products   The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026.   These tariff rate increases will help support and sustain a strong domestic industrial base for medical supplies that were essential to the COVID-19 pandemic response, and continue to be used daily in every hospital across the country to deliver essential care. The federal government and the private sector have made substantial investments to build domestic manufacturing for these and other medical products to ensure American health care workers and patients have access to critical medical products when they need them. American businesses are now struggling to compete with underpriced Chinese-made supplies dumped on the market, sometimes of such poor quality that they may raise safety concerns for health care workers and patients.   Today’s announcement reflects President Biden’s commitment to always have the back of American workers. When faced with anticompetitive, unfair practices from abroad, the President will deploy any and all tools necessary to protect American workers and industry.  

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• International

June 10, 2024 Israel-Hamas war

By Lauren Said-Moorhouse, Jessie Gretener, Antoinette Radford and Elise Hammond and Aditi Sangal, CNN

Doctor treating rescued Israeli hostages says they were beaten while in captivity

From CNN's Paula Hancocks and Madalena Araujo in Tel Aviv

The doctor in charge of medical treatment for the four Israeli hostages rescued Saturday said they were beaten while in Hamas captivity in Gaza.

“It was a harsh, harsh, experience, with a lot of abuse, almost every day,” Dr. Itai Pessach told CNN’s Paula Hancocks at the Sheba Medical Center in Ramat Gan outside Tel Aviv. “Every hour, both physical, mental, and other types, and that is something that is beyond comprehension.”

Pessach says the eight months spent in captivity “left a significant mark on their health” and despite appearing in good condition initially, they are all malnourished. “They had no protein, so their muscles are extremely wasted, there is damage to some other systems because of that.”

He says the hostages tell him they were moved several times, dealing with a number of different guards. The supply of food and water was unstable.

Dr. Pessach also treated some of the hostages released in a ceasefire deal back in November. He says the psychological damage of these four is more intense due to the length of time they were held.   

Israel's former Ambassador to the United Nations to replace Erdan after leaked transcript 

From CNN's Richard Roth and AnneClaire Stapleton

Former Israeli ambassador to the United Nations Danny Danon is returning to his previous post at the UN to represent Israel, the Israeli Prime Minister's office said in a statement Sunday.

Prime Minister Benjamin Netanyahu and Minister of Foreign Affairs Israel Katz have decided to appoint MK Danny Danon as Israeli Ambassador to the UN. MK Danon has considerable experience in the international arena and there is no doubt that his talents and experience will find expression at this time. The appointment will be submitted for Government approval, after which Ambassador-designate Danon will begin his second term as Israeli Ambassador to the UN," the statement read. 

Danon served as Israel's envoy to the UN from 2015 to 2020. 

When asked on Monday if Danon's arrival means relations between the UN and Israel will change, UN spokesperson Stephane Dujarric said, “Hope springs eternal.” He added that Danon and UN Secretary-General Antonio Guterres have a businesslike relationship.

Danon will replace Israeli Ambassador to the UN Gilad Erdan, who last week leaked on social media a video of him speaking to an apparent UN official.

Dujarric condemned the leaked message, saying the UN had never seen such an act in 25 years of service. Secretary-General Antònio Guterres has not spoken with Israel's Prime Minister Benjamin Netanyahu since the start of the war, he said. 

Israeli UN mission spokesperson John Lavine said Erdan was finishing up his duties as announced in early June and was not leaving because of the recorded phone call.

“These are all completely independent events," he told CNN.

The post was updated with a response from Israel's UN Mission.

2 of the hostages freed Saturday have left hospital

From Tamar Michaelis

The Hostages Families Forum in Israel says that two of the four hostages freed on Saturday have now left hospital. 

The Forum said Monday that Shlomi Ziv and Andrey Kozlov had been discharged and would be staying in a hotel for the next few nights.

Israeli drone shot down in south Lebanon amid rising tensions

From CNN's Ben Wedeman in Beirut and Mohammed Tawfeeq in Atlanta

An Israeli drone operating over southern Lebanon was shot down by a surface-to-air missile on Monday, according to the Israel Defense Forces (IDF). The IDF confirmed that the aircraft was operating in Lebanese airspace at the time.

Lebanon's Iran-backed Islamist group Hezbollah put out a statement about the incident, saying they carried out the attack against the Israeli drone "in support of our steadfast Palestinian people in the Gaza Strip."

The IDF later stated that two other drones had also crossed into northern Israel from Lebanon on Monday. They fell in the north of the Golan Heights region and caused fire in the area of Moshav Sha'al, which has now been extinguished, the IDF said.

Israel and Hezbollah have recently ramped up cross-border attacks after months of low-intensity fighting, prompting the Israeli military to warn last week that it is prepared to launch a large-scale attack along its northern border.

In an earlier statement on Monday, the IDF also outlined that "numerous anti-tank missile launches were identified" toward several areas in northern Israel. They also said IDF artillery was fired to "remove threats" in the areas of Salhani, Ayta ash Shab and Hanine in southern Lebanon.

This post has been updated.

UNSC to vote on ceasefire proposal at 3 p.m. ET

From CNN's Richard Roth, Jennifer Hansler, AnneClaire Stapleton

The United Nations Security Council is expected to hold a vote for the US proposal for a permanent ceasefire and release of the hostages in Gaza at 3pm ET on Monday, according to a US official.

The vote is expected to pass, the same official said. 

CNN obtained the latest draft of the US proposal, which states that the Security Council: “Welcomes the new ceasefire proposal announced on May 31, which Israel accepted, calls upon Hamas to also accept it, and urges both parties to fully implement its terms without delay and without condition."

The United States called for a UNSC resolution backing the proposal on Sunday, with the spokesperson for the US Mission to the United Nations, Nate Evans saying it is in "opportunity to speak with one voice and call on Hamas to do the same."

US President Biden took the unusual step at the end of last month of publicly outlining what he said were the details of Israel’s latest ceasefire offer to Hamas. 

Blinken arrives in Israel amid diplomatic push

From CNN's Jennifer Hansler

US Secretary of State Antony Blinken has arrived in Israel as part of a diplomatic push to get Hamas to accept a ceasefire and hostage proposal that could lead to the end of the war.

The top US diplomat touched down in Tel Aviv on Monday following meetings earlier in the day in Cairo. He is slated to meet with Prime Minister Benjamin Netanyahu and Israeli Defense Minister Yoav Gallant on Monday.

Blinken arrives in Israel at a tenuous time, following the resignation of Benny Gantz from the Israeli war cabinet on Sunday. Blinken is expected to meet with Gantz on Tuesday.

He also arrives two days after an Israeli raid that rescued four hostages and left hundreds of Palestinians dead.

This is Blinken’s eighth trip to the region since the October 7 Hamas attack.

Blinken says "the best way" to get American hostages' home is through a ceasefire deal

US Secretary of State Antony Blinken has stressed that the best way to bring home American hostages held by Hamas is the ceasefire proposal currently on the table.

Speaking to reporters shortly before leaving Cairo, Blinken said the United States was focused on pressing Hamas for a hostage deal, when he was asked about an NBC report that the administration was considering negotiating for American hostages unilaterally.

“My number one priority as Secretary of State is to ensure the well-being of Americans who are in harm's way, anywhere in the world, including those who are being unjustly detained or being held hostage," he said. "The best way, the most effective way, to get everyone home, including the American hostages, is through this proposal, is through the ceasefire deal that's on the table right now,” he said at the press gaggle.

Blinken noted that despite public rhetoric suggesting otherwise, the Israeli government had not only agreed to the proposal but they “were critical in putting it forward."

“Let's see if we get an answer from Hamas,” Blinken added. He said the proposal on the table is similar to what Hamas has agreed to in the past.

US officials have downplayed the idea that they would pursue a hostage release separate from Israel, telling CNN this is not something they plan to pursue at this time.

"We just don't have any cards to play on this right now," one of the officials said. As  CNN has reported , the families of the hostages have pushed the idea for months with the administration and have brought it up as recently as in the past few weeks.

CNN's MJ Lee and Kylie Atwood contributed to this report.

Blinken warns Israeli postwar plan for Gaza is "imperative"

From CNN's Jennifer Hansler and Kylie Atwood

US Secretary of State Antony Blinken has said that an Israeli postwar plan for Gaza is "imperative," as he continues his Middle East trip pushing for a permanent ceasefire in the strip and the release of hostages taken by Hamas.

The senior diplomat reiterated that his discussions with Israeli and Arab leaders will also prioritize plans for as soon as the war ends in Gaza, where Israel's military offensive has heavily damaged infrastructure and razed neighborhoods .

“It's critical that we continue to work on plans for the day after, to make sure that when it comes to security in Gaza, when it comes to governance, when it comes to reconstruction, we have plans in place to move forward. That's going to be a critical part of my conversations here in the region,” Blinken said.

Asked by CNN’s Kylie Atwood if he is concerned Israeli Prime Minister Benjamin Netanyahu does not have a plan to end the hostilities, Blinken responded:

“In the absence of those plans, then one of three things -- either Israel would have to stay, which says it doesn't want to do and we believe that it must not do, and will be left holding the bag in Gaza and will probably have a major insurgency on its hands for years to come. Or in the absence of a plan, it leaves a loss and Hamas returns. Or we have a total vacuum and you just have chaos, lawlessness, criminality, Jihadist groups, etc. So it's imperative that there be a plan.”

Blinken asks leaders in the Middle East to "press Hamas to say yes" to ceasefire and hostage proposal

From Jennifer Hansler and Kylie Atwood

US Secretary of State Antony Blinken called on partners in the Middle East to “press Hamas to say yes” to a proposal outlining a permanent ceasefire in Gaza and release of hostages taken by Hamas.

The senior diplomat, on his eighth trip to the region since October 7, is speaking to key players in negotiations between Israel and Hamas.

Speaking before departing Cairo on his way to Tel Aviv, Blinken said his Egyptian counterparts “were in communication with Hamas as recently as a few hours ago.” He would not give details on when Hamas, which governs Gaza, might officially respond to the ceasefire proposal, which was transmitted to them more than a week ago.

“Egypt, the United States, and other countries believe that and we should be able to get to yes. Ultimately, I can't put myself, none of us can put ourselves in the minds of Hamas or its leaders, so we don't know what the answer will be. I don't have anything further on that,” he said in response to a question from CNN’s Kylie Atwood.

The Israeli government and international organizations had endorsed the deal, he said, adding that “the only outlier at this moment is Hamas.”

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