business plan for outpatient clinic

How to Write a Business Plan for an Outpatient Medical Practice

Noah Parsons

16 min. read

Updated February 7, 2024

Free Download:  Sample Medical Practice Business Plan Template

So you’re thinking about starting your own outpatient medical practice.

You probably have many good reasons to open a private practice. Private practices can be lucrative, although it requires you to spend time building relationships with patients while also attending to all business processes that are part of running your practice .

Maybe you want more autonomy over your practice and your workflow. Or maybe you hope to expand your services to underserved areas or specific populations based on your expertise.

If you’re thinking about starting an outpatient medical practice, one of the first things you should do is write a business plan. Even if you’re able to self-fund your practice and don’t need outside investment, your business plan is a great tool for thinking through all the different aspects of building a profitable and sustainable practice.

You should go into this thinking about your business plan as a living document, not something you do once and then file away forever. Use it as a tool, especially around your financials. Revisit and update it regularly by comparing your forecasts to your actuals and adjusting as necessary.

To help you get started, you can download our free business plan template . If you’ve never written a business plan before, Bplans also offers a library of sample medical business plans that you can review or even download to use as a model.

• Executive summary

The first section that will appear in your business plan is the executive summary . But before you dive right in, it’s the section of your plan that you should actually write last. It’s a summary and an overview of your outpatient medical practice and your plans, so it will be easy to put together after you’ve written the rest of your plan.  

Executive summaries are short—keep it to one to two pages. Keep in mind that if you’re using your plan to get funding, investors and banks tend to read your executive summary to get a sense of whether to read on and consider your request. Do not neglect it; just write it last.

Your executive summary will include the following sections:

• Who you are: Your business name, location, and contact information.  
• What you offer and the problem your business solves: What does your practice offer and why is it needed? This is your value proposition .
• Target market: Who is your ideal patient? Do they self-pay or use insurance? Be specific.
• Competition: Who else is offering similar services?
• Team: Who is on your management team?
• Financial summary: Explain your business model, startup costs, revenues, and liabilities to the company. Mention your funding needs.
• Milestones and traction: How have you validated that there’s a need for your practice in your location?

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Now that you’re familiar with what’s included in your executive summary, tuck that information away, and get to work on the rest of your plan.

Think of the next few sections of your plan as the overarching description of your practice’s business opportunity. You’ll cover the problem you’ve identified and the solution that your practice offers. Then you’ll think through your ideal customer , your competition , and your opportunities for growth . This section area should describe the services you provide and how they benefit your patients.

• Problem and solution

First, describe the problem that you’ve identified and how your practice solves that problem. Here’s a brief example:

The problem : There is a lack of affordable pediatric and gynecological care available in coastal areas of Lane County, Oregon. Many patients have to travel miles to the closest practice.  

The solution : Dr. Gardner plans to open Ocean Lane Outpatient Care to serve smaller Oregon coastal communities scattered outside of major towns with major hospitals. Due to her focus on pediatric and gynecological care, Dr. Gardner’s particular services are especially valuable in this location due to the lack of available service providers in the area. Dr. Gardner’s practice will accept private insurance and Medicaid, as well as a sliding scale for patients in a certain income bracket.   

The services section identifies what kind of medical practice you are opening. Restate who your practice serves and what kind of services you specialize in. Talk about how your practice approaches treatment and what goals you have in addition to providing quality care. Here’s an example from a sample business plan for a medical practice.

Include a breakdown of all services furnished by the clinic, being as granular as possible. For example:

Gynecology:

• Annual women’s wellness exam

Pediatrics:

• Immunizations
• Youth eating disorder treatment
• Target market

Next, talk about your ideal patients. If you’re in the earliest stages, you’ll want to do some research that verifies your hypotheses.

For example, Dr. Gardner would have needed to verify her assumption that people in coastal towns in Oregon are in need of pediatric and gynecological services—a need that isn’t currently satisfied by available resources.

A formal market analysis can help verify that there’s a need for your particular practice in your intended location.  

Your target market section should include:

• TAM, SAM, and SOM: Total Available Market (TAM), Segment of the Available Market (SAM), Share of the Market (SOM). Here, you are looking at the difference between targeting everyone: TAM (all people who need medical care—so all humans in your area), versus your ideal clients: SAM (maybe this is those with certain insurance or ability to self-pay), versus the number of new patients you think you can realistically reach: SOM, especially within your first few years. The idea is that not everyone will be an ideal patient. It matters because you can waste a lot of money with marketing outreach to everyone, instead of targeting a specific population that is more likely to be looking for your services.
• Buyer persona : Imagine there’s one specific patient who represents your ideal patient. Be specific. Maybe she’s 34 years old, has private insurance, is relatively healthy, but needs more regular medical care and advice.  
• Competition and competition matrix : List competitors and analyze what makes them competitive. For instance, your competitors might be large hospitals because of the wide range of services they offer. You might also be competing with local chiropractors or other alternative medicine practices that already have a foothold in local communities.
• Future products and services : Name the products/services you will offer as your practice grows and earns more money and as your patients develop new needs. Maybe you will want to open a second location when you gain enough patients. Or maybe you will want to extend your practice’s hours of operation.

Ideal patient profile

Your ideal patient profile identifies the type of patient whom you hope to attract and retain. To clarify, this does not mean you only serve your ideal patient type. Rather, focusing your outreach efforts on attracting your ideal patient will allow you to grow your practice more effectively than targeting a large number of patients who may or may not be in the market for your practice’s specialty.

When developing your ideal patient profile, consider:

• Who you enjoy working with
• Who needs the services you provide
• Who can and will pay your pricing (or have an insurance plan that you want to accept)

For instance, because Dr. Gardner specializes in preventive and curative care, a patient seeking palliative treatment for terminal cancer is not the ideal patient. This patient would not receive the best care for their needs from Dr. Gardner’s services.

Acquiring a new patient is six to seven times more expensive than retaining a current patient. In order to support and retain current patients, develop a strategy to proactively meet their needs and set benchmarks to measure the success of your strategy.

• Execution: How your practice will respond to the opportunity

First, your business plan laid out the opportunity at hand. Now, the rest of your plan will focus on how to take advantage of that opportunity. Now is the time to lay out what you’ll do to attract patients and set up a viable business model with healthy financials.

Components of this section include:

• Your marketing and sales plan
• Strategic partnerships or alliances
• Your operations plan
• Your team and company information
• Financial plan
• Milestones and metrics that you’ll need to hit to be viable
• Your key assumptions and risks
• Your funding ask and exit strategy, if applicable
• Marketing and sales plan

The marketing and sales component of your plan should include how you plan to reach the patients in your target market, how you’ll bill for your services, and what you need to do to bring in the right number and type of patients.

• Positioning : Describe how you will present your company to your customers with your positioning statement . Think about answering these questions: What are you offering your patients that they can’t get elsewhere? Why should they pick you instead of another practice? Where do you see yourself in the competitive landscape? Use this model to help:

“For [target market description] who [target market need], [how our business offering meets the need]. Unlike [key competition], it [most distinguishing feature].”

For [coastal community members] who [require gynecological care], Ocean Lane Outpatient Care [provides both pediatric and women’s health services]. Unlike [other area medical practices], Ocean Lane Outpatient Care is [conveniently located near the communities it serves and can fill the gap between pure pediatric care and full-blown adult care for young women].

• Pricing and billing : Medical pricing is complex, especially if you plan to work with insurance companies. Practice Builders says that “a 10 percent increase in pricing can result in a much better return than a 10 percent reduction in costs—or even a 10 percent increase in patient volume.”

Make sure you price your services at what they are worth and explain your pricing to your patients. Consider the demographics your practice serves when you choose your pricing. Research other practices in the area and learn more   about how you can choose the best prices for your patients and your practice.Also, consider how you will get patients to keep coming back to your practice. Sometimes you can increase sales by upselling and cross-selling , or offering complementary services.

If you accept insurance, the contracts you set up with insurance companies for reimbursement will probably dictate your pricing, so this is a good place to talk about your negotiation strategy as well.

• Update your website and social media frequently and ensure your website is mobile-friendly and share-friendly with credible links added.
• Make sure all communications with and about patients are HIPAA-compliant . Download a HIPAA Compliance Guide to ensure you are following regulations.
• Maintain a positive online reputation for your practice as a key management technique. You can do this by claiming your profile on any third-party sites that list it. Encourage your patients to review you online, too.
• Strategic alliances : List any people or organizations with whom you are working. You will most likely need to partner with a regional lab for medical testing. Opening an on-site lab can be costly for a smaller practice. You will most likely need to partner with a nearby hospital as part of a referral system or to share select services and equipment.

The operations section of your business plan covers how your business works, from the logistics to the technology.

• Technology: Describe how your technology works, but do not go into too much detail. Investors can ask for more information if they want to. Will you rent or buy equipment ? The technology you need ranges from simple items like thermometers to more complex items like centrifuges.
• Billing and information storage: Provide a brief overview of how you will manage information technology and patient records to promote safety, efficiency, and compliance with HIPPA  regulations and industry standards. Explain your usage of Electronic Medical Record (EMR) software in this section.
• Payment types you accept: Consider payment types such as private pay, private insurance, Medicaid/Medicare, etc. What kind of referrals can you offer to the uninsured or those who cannot afford your services?
• Milestones and metrics

In this part of your plan, you set measurable, achievable milestones, such as the number of new patients added per month in the first year of operations. Milestones can be about any aspect of your medical practice as long as they emphasize growth. For metrics , decide which numbers to check regularly to track your company’s health. This area should also include information about traction (past successes) and risks:

• Traction: Look back at major milestones you have achieved. Hopefully, they demonstrate that your business model works and that you are filling a need for your market. If you’re looking to attract private funders, this section is important since it shows your initial success .
• Key assumptions and risks : Acknowledge the assumptions you are basing your business on. Set out to prove them right if you can. Also, discuss risks so that investors know you have considered what could go wrong and that you have a plan for dealing with challenges. Malpractice suits and changing healthcare regulations are risks specific to the healthcare field. Malpractice insurance is a must for addressing the former. Changing healthcare regulations can affect the volume of patients who are able to afford your services.

Your team can be more important than your product or service. Describe your team here, even if it is just you and a receptionist who answers the phone in your office building.

• Management team and qualifications: Address who works for you, what do they do, and how much you pay them. Compile the details of their relevant experience and education.
• Hiring plans : Outline who, if anyone, you need to hire to fill skills gaps in your management team and how much you plan to pay them.
• Company overview

The company overview tells about who you and your staff are and appeals to potential investors. Keep it short—it should be the shortest chapter of your business plan but is still very important.

It needs to include these elements:

• Mission statement : Your mission statement articulates your goals for what your company does for its customers, employees, and owners. It will read something like this: “Our mission is to provide X (services) for Y (customers) by Z (methods).” For instance, Ocean Lane Outpatient Care is dedicated to providing quality care for all the inhabitants of coastal Lane County by providing affordable and versatile services.”
• Intellectual property : List any patents you have or have pending, and mention any core technology you are licensing from another company.
• Legal structure and ownership : Explain your business structure and who owns how much of it. More on considerations for physicians and legal structure here.
• Business location : Describe the company’s location and any facilities it owns.
• Company history if it’s an existing company

Having a solid financial plan is critical, whether you’re seeking funding or not.  A typical financial plan includes projections by month for the first year and annual projection for the next three to five.

Include these key elements:

• Profit and loss statement : this explains how your business made a profit or incurred a loss in a given amount of time (typically three months) by listing all revenue and expenses, then documenting the total amount of net profit or loss.
• Cash flow statement: documentation of how much cash the business brought in, how much it paid out, and the amount of its ending cash balance (on a monthly basis).
• Balance sheet : snapshots how your company is performing at a given moment by including how much money you have in the bank, how much your customers owe you, and how much you owe your vendors.
• Sales forecast : projections of what you think you will sell in a given timeframe (one to three years).
• Business ratios : Comparisons of your company’s financials with numbers from the industry profile.
• Keep it brief. For example, Dr. Gardner will employ administrative aides and nurses.
• Use of funds : Needed if you’re seeking investment or a loan. This section explains how you will use investors’ money.
• Exit strategy : You only need this if you’re seeking outside investment. An exit strategy is a method by which entrepreneurs and investors, especially those that have invested large sums of money, transfer ownership of their business to a third party to recoup money invested in the business. Common exit strategies include being acquired by another company, the sale of equity, or a management or employee buyout.

When writing your financial plan, make sure to consider startup costs . For a medical practice, average startup costs can include initial fees, malpractice insurance, cost of renting or leasing office space, and the cost of any legal or tax advisors.

Consider submitting your plan to at least five to 10 banks if you need help financing your startup costs. Many banks have divisions designated to providing loans to new dental and medical practices , so submit your plan to that division if you can. Startup costs can be high in the medical field, so make sure not to underestimate them.

Finally, your appendix is the holder for any supporting information such as charts, images, graphs, and more. If you need to include large sets of data or pages of information, put it here. That way, it is available but does not distract from the plan’s most important pieces.

For instance, you can expand on your personnel plan with charts of each employee’s annual insurance costs. You can also include versions of your profit and loss statements and other financials that extend further into the future.

Don’t forget to go back to your executive summary! Remember to keep it brief and write it based on what you have written already.

When you’re ready to write your business plan, there are an array of resources available to you. Download our free business startup checklist to think about the next steps. Also, check out our free business plan template . Reviewing sample business plans in the medical field can help you get a better sense of the process and information you’ll provide. Downloading this plan for a family medicine clinic will probably be most helpful if you’re setting up a primary care practice.

Remember that this plan is a living document. Schedule a regular business plan review meeting. You should review your trajectory and compare your financial projections to your actuals frequently to keep your practice on track.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Position your practice’s business opportunity

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Medical Practice Business Plan Template

Written by Dave Lavinsky

Medical Practice Business Plan

You’ve come to the right place to create your Medical Practice 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 Medical Practices.

Medical Practice Business Plan Example

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

Executive Summary

Business overview.

Fresno Medical is a new medical practice located in Fresno, California. Our goal is to provide affordable healthcare to individuals and families living in the area and surrounding communities. We offer general and preventative healthcare for all ages, including checkups, screening tests, and immunizations.

Our medical practitioners and supporting staff are well-trained and have a passion for improving the health and well-being of our clients. We serve our patients not just with our knowledge and skills but also with our hearts. We aim to help our patients experience the best healthcare possible while maintaining relationships that last a lifetime.

Service Offering

Fresno Medical practice will focus on providing primary care services to every family member, from infants to adults. Some of the general and primary care services we provide include:

• Immunizations: flu shots, COVID boosters, measles, mumps, polio, etc.
• Annual checkups
• Pediatrics: checkups, developmental screening, immunizations, etc.
• Health screenings: blood pressure, cholesterol, depression, diabetes, etc.
• General health counseling

Fresno Medical will work with local and national insurance companies to ensure that every patient can afford our services. If the patient’s insurance does not cover all of their medical costs, Fresno Medical will provide payment plan options so that they are not overwhelmed by their medical bills.

Customer Focus

Fresno Medical will primarily serve the community of Fresno, California. The community consists primarily of middle to lower income residents who need access to affordable medical care. Many of these residents are hesitant to go to hospitals or other medical facilities due to their costs. We will offer lower prices, flexible payment plans, and flexibility when working with insurance companies to accommodate this demographic.

Management Team

Fresno Medical is owned and operated by Jessica Wells, who has been working as a doctor at local hospitals for 15 years. Throughout her career, she has worked for hundreds of patients and families with all their general and preventative care needs. Though she has never run a medical practice herself, she has worked in the industry long enough to gain an in-depth knowledge of the business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

Fresno Medical will also employ nurses, expert medical staff, and administrative assistants that are passionate about helping the local community.

Success Factors

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

• Location: Fresno Medical’s location is in a high-traffic area that is easily accessible to thousands of residents. It’s visible from the street with many people walking and driving to and from work on a daily basis.
• Patient-oriented service: Fresno Medical will have a staff that prioritizes the needs of the patients and educates them on the proper way to take care of themselves.
• Management: Jessica Wells has a genuine passion to help the community. Because of her previous experience and reputation in the medical community, she is fully equipped to open this practice.
• Relationships: Jessica Wells has developed strong connections with her patients and fellow staff throughout her career. Many patients have expressed interest in following Jessica to her new practice, and some former colleagues have shown interest in working for the clinic. Jessica also has relationships with medical equipment suppliers and insurance companies.

Financial Highlights

Fresno Medical is currently seeking $400,000 to launch. The capital will be used for funding capital expenditures, staffing, marketing expenses, and working capital.

The breakdown of the funding may be seen below:

• Clinic design/build: $100,000
• Medical supplies and equipment: $130,000
• Three months of overhead expenses (payroll, rent, utilities): $100,000
• Marketing and advertising: $50,000
• Working capital: $20,000

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

Company Overview

Who is fresno medical.

Fresno Medical is a medical practice located in Fresno, California. We offer general and preventative health care for all ages. We offer immunizations, pediatrics, health screenings, and more. Our medical practitioners and supporting staff are well-trained to improve the health and well-being of our patients.

Fresno Medical is run and owned by Jessica Wells, who has been a doctor in the local medical community for 15 years. She has helped hundreds of patients and families with their general healthcare needs throughout her career. She also has gained knowledge and experience in the operations and marketing aspects of the medical business, which will prove indispensable for this private practice.

Fresno Medical’s History

After years of working with patients in hospital settings, Jessica Wells decided to establish a private practice. She wanted to develop a closer relationship with her patients, which was difficult to achieve while working in a large hospital. With this goal in mind, Jessica incorporated Fresno Medical as an S-corporation on March 15th, 2023.

Since its incorporation, the medical practice has achieved the following milestones:

• Found a clinic space and signed a 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 practice

Fresno Medical’s Services

Fresno Medical will focus on providing primary care services to every family member, from infants to adults. The costs will depend upon the materials used, the physician’s time, and the amount designated for each procedure. Some of the general and primary care services we provide include:

• Immunizations: flu shots, measles, mumps, polio, etc.

Fresno Medical will maintain privacy according to HIPAA regulations. All patients will be welcome, including those without insurance. However, we expect most patients to utilize their insurance plans to pay their costs. The medical practice will work with local and national insurance companies to ensure that every family can afford our services. After billing insurance, Fresno Medical will provide flexible payment plan options so that no patient is overwhelmed by their medical bills.

Industry Analysis

Healthcare is a human right that everyone deserves access to. The medical industry will always be a necessity as it is the industry keeping society alive and well. Therefore, the medical industry is expected to continue to grow as the population grows. This is especially true for private practices, as there is a rising demand for small, patient-focused clinics that provide top-tier medical services.

Furthermore, the demand for private physicians has been on the rise. Hospitals have been low on rooms and beds the past few years, and nurses and doctors have been overworked. This has led to an increased demand for more medical professionals and private practices that can help lessen the load of larger hospitals.

Moreover, the pandemic instilled the importance of quality healthcare and practices in the general population. We expect that people all around the world will now put in more effort towards taking care of their health and getting the care and screenings they need.

According to Facts & Factors, the global private medical market is expected to experience a compound annual growth rate (CAGR) of 12.5% over the next five years. This is enormous growth that is rarely seen in other industries. Furthermore, there is a growing demand for more primary care physicians as the general population aims to prevent developing chronic and preventable diseases. According to Grand View Research, the primary care market will experience a CAGR of 3.2% over the next 10 years, which is also moderate growth.

With such a demand for more medical practices and a greater emphasis on general health, we believe that Fresno Medical is starting at the right time and will see great success.

Customer Analysis

Demographic profile of target market.

Fresno Medical will serve the community residents of Fresno, California, and its surrounding areas. The community of Fresno, California has thousands of middle-class individuals and families seeking an affordable medical practice to take care of all their health concerns.

The demographics of Fresno, California are as follows:

Customer Segmentation

The company will primarily target the following customer segments:

• Middle-class individuals
• Hospital patients

Competitive Analysis

Direct and indirect competitors.

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

City Metro Hospital

Founded in 1968, City Metro Hospital is one of the most popular hospitals in the area. Thousands of residents get all their primary care and emergency care needs taken care of with City Metro. It provides almost every service you can think of and enlists the help of thousands of doctors, nurses, and other expert medical professionals.

Though City Metro Hospital will continue to thrive, it does not foster an environment designed for long-lasting relationships. Since the pandemic, the hospital has been overwhelmed with patients and a staff shortage. This has led to doctors seeing thousands of patients and a tremendous increase in wait times. Fresno Medical will offer a more intimate setting where patients and doctors can create a long-lasting relationship that spans decades.

Quality Doctors

Quality Doctors is a private medical practice that provides highly personalized medical care. Quality 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. Services offered by Quality Doctors include primary care, urgent care, and virtual visits.

Like City Metro Hospital, Quality Doctors is a large care system that cares for thousands of patients. This means that patients also do not get a close relationship with their doctor, which many crave. Furthermore, Quality Doctors has put much of its money and services toward emergency care in recent years and reduced its primary care services. Patients who want a lasting relationship with a primary care doctor will feel more welcome with Fresno Medical.

Johnson Community Care

Established in 1949, Johnson Community Care is a private medical practice with multiple locations. Patients all around the state can receive care at any location near them. Each site provides primary care services, emergency care, pharmacy services, and lab testing. Instead of heading to multiple locations to get all of these services, patients can get all their healthcare needs taken care of in one building.

Though Johnson is a highly successful medical practice, its major downfall is that it only provides services to those with its unique insurance plan. Therefore, anyone who has insurance through another company or plans provided by their employer cannot receive care at Johnson without paying out-of-network prices. Fresno Medical will partner with many insurance companies and provide flexible payment plans to help as many patients as possible.

Competitive Advantage

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

• Relationships: Jessica Wells has developed strong connections with her patients and fellow staff during her career. Many patients have expressed interest in following Jessica to her new practice, and some former colleagues have shown interest in working for the clinic. Jessica also has relationships with medical equipment suppliers and insurance companies.

Marketing Plan

Brand & value proposition.

The Fresno 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
• Moderate pricing for all preventative and general health services

Promotions Strategy

The promotions strategy for Fresno Medical is as follows:

Fresno Medical understands that the best promotion comes from satisfied patients. The clinic 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.

Social Media

We will maintain a social media presence to attract local clients looking for a new doctor or medical practice. We will post information about our team, services, and general health tips for better wellness. To create a genuine connection with our patients, we will also use social media to engage with them and answer any questions they may have about our practice.

Fresno Medical will have an informative and attractive website featuring all its services and referrals from other satisfied patients. The website will be highly informative and be designed in a way that is friendly and eye-catching.  

Fresno Medical will invest in a high SEO presence so that the clinic is listed at the top of the Google or Bing search engine when a potential patient is researching private medical practices in Fresno, California.

Fresno Medical’s pricing will be significantly lower than big hospitals. We will partner with as many insurance companies as possible to ensure that our patients’ medical care is covered. For services not fully covered by insurance, we offer a flexible payment program so patients are not overwhelmed by their medical bills.

Operations Plan

The following will be the operations plan for Fresno Medical.

Operation Functions:

• Jessica Wells will operate as the CEO of Fresno Medical. She will run all the general operations and executive functions of the company. She will also provide basic medical care for patients until she can hire a full medical staff.
• Jessica is joined by Mindy Keller, who will serve as the Marketing Manager and run all of the marketing and advertising efforts.
• Jessica is also joined by Rhonda Smith, who will work as the Receptionist of the clinic and the Administrative Assistant for the company.
• Jessica is also joined by Cindy Nguyen who will be the company’s Head Nurse. She will manage and train incoming nurses and provide medical treatment to patients.
• Jessica will continue to hire a team of medical staff to treat the medical practice’s growing patient list. The team will consist of doctors, nurses, physicians, and other necessary medical staff.

Milestones:

Fresno Medical expects to achieve the following milestones in the following six months:

• 4/202X Finalize lease agreement
• 5/202X Design and build out Fresno Medical
• 6/202X Hire and train initial staff
• 7/202X Kickoff of promotional campaign
• 8/202X Launch Fresno Medical
• 9/202X Reach break-even

Fresno Medical is owned and operated by Jessica Wells, who has been working as a doctor at local hospitals for 15 years. Throughout her career, she has worked with hundreds of patients and families and taken care of all their general and preventative care needs. Though she has never run a private medical practice herself, she has worked in the industry long enough to gain an in-depth knowledge of the business, including the operations side (e.g., running day-to-day operations) and the business management side (e.g., staffing, marketing, etc.).

The medical practice will also employ nurses, expert medical staff, and administrative assistants that are passionate about helping the local community.

Financial Plan

Key revenue & costs.

The revenues for the medical practice will come from the fees it will charge the patients and their insurance for the health care services it provides.

The cost drivers for the company will include the payroll of the staff, lease on the office building, medical supplies and equipment, and marketing costs.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and to pay off the startup business loan.

• Year 4: 100
• Year 5: 125
• Annual lease costs: $40,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Medical Practice Business Plan FAQs

What is a medical practice business plan.

A medical practice business plan is a plan to start and/or grow your medical practice 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 Medical Practice business plan using our Medical Practice Business Plan Template here .

What are the Main Types of Medical Practices?

There are a number of different kinds of medical practices , some examples include: Group medical practice, Private medical practice, and Hospital-based medical practice.

How Do You Get Funding for Your Medical Practice Business Plan?

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

A well-crafted medical practice business plan is key to securing any type of funding.

What are the Steps To Start a Medical Practice Business?

Starting a medical practice 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 Medical Practice Business Plan - The first step in starting a business is to create a detailed medical practice business plan that outlines all aspects of the venture. This should include market research on the medical industry and potential target market size, information 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 medical practice 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 medical practice business is in compliance with local laws.

3. Register Your Medical Practice Business - Once you have chosen a legal structure, the next step is to register your medical practice 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 medical practice 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 Medical Practice Equipment & Supplies - In order to start your medical practice 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 medical practice 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. 

Learn more about how to start a successful medical practice business:

• How to Open a Medical Practice

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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Medical Clinic Business Plan Sample

Published Oct.12, 2016

Updated Apr.23, 2024

By: Jakub Babkins

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Table of Content

Introduction

The demand for health care is constant in spite of changes in the economy across the globe. Starting a professional clinic will help promote the health and wellness of the community that you live. You also get the opportunity to make money doing what you love, providing quality health care services

To ensure that your plan succeeds, you need to hire a professional to write your business plan for a medical clinic . OGS Capital is a reputed company that specializes in providing medical clinic business plan writing services. Our professionals have vast hands-on experience and are members of professional bodies, so you can be sure that you will get value for the money and time that you invest in this project.

Plan Summary

The plan summary is also referred to as an abstract. It should be placed at the start of the medical clinic business plan to give readers an idea of the clinic that you intend to establish even before they start perusing through the other pages.

It Is imperative to make sure that all facts that you include in this section are factual to paint a positive image to the target audience. Some of the details of your clinic that you should include in this section are clinic’s name, mission statement, and objectives.

Our team will help you create this section to give your business plan for a medical clinic an upper hand when you present it to potential investors . We will also give you additional facts to enable you set up the clinic successfully.

This includes;

• How to market your health care services
• How to hire employees
• How to build and retain your credibility and reputation

In certain businesses, the location is critical and to some extent this applies to a medical clinic. Easy access to the clinic is important, so being close to main highways is a consideration.

Car parking facilities for your clients and visitors will also need to be considered. This could be part of the business or a nearby private car park.

Another important consideration is visibility. Your medical center can act as a superb billboard in the right location.

Your business plan for a medical clinic should cover all these points and more.

Competitive Analysis

Health is a growing business and there are plenty of competitors. Your medical clinic business plan should describe your closet competitors and why they are successful.

The plan will also explain what your business will do differently to stand out from the competition. One easy way of doing this is by using a competitor matrix. Make a list of competitors and then columns for attributes. This is an easy way to compare your business to the competitors.

Business Structure

The business plan for a medical clinic needs to describe how your business is structured from the top down. If it’s an existing business, include a brief history of the company.

You should also describe the legal structure and ownership of your company, whether sole-trader, partnership or limited company.

You may also need to include information on the mission statement, intellectual property and the business location.

Marketing Strategy

Your marketing plan needs to consider several topics, including where your business is positioned in the market, your pricing structure and how you plan to promote the business.

Is the business focussed on offering value for money or is it aimed at the high-end of the market. There are many pricing strategies, and your medical clinic business plan pdf should identify which strategy you intend to implement and why.

Using our medical clinic business plan template , describe the products and services your business will offer.

How do your planned products and services meet the needs of your target market. Do your competitors offer similar products, and if so, why will your business stand out?

In the medical business there is constant change, so include how your medical clinic business plan will plan to find and offer new products and services.

The key members of the management team should be identified and their role described. This should also include details of why they are suitable for that particular role. Don’t forget to identify other important members of your team.

You can include brief bios with details of their experience and education.

Using our free sample business plan for a medical clinic to guide you.

Financial plan

The financial plan provides precise details on how you will get the capital to start the clinic. The financial plan also goes the extra mile to highlight how the money will be spent.

It is important to make sure that the plan is accurate as simple mistakes could cost your potential business investors. Our financial experts will work on this section to ensure that the medical clinic business plan  is foolproof and capable of starting and safeguarding it from financial challenges down the road.

Registration Process

There are regulations that govern establishing of health care clinics. You need to adhere and follow the stipulated processes to get all the necessary accreditation documents.

The investors need to know that you have what it takes to start a health clinic, and so it is imperative to provide details of how you intend to complete the registration process.

We have professional business plan writers in the health care sector that can help you understand the registration process to overcome the challenges along the way. Our medical practice business plan template will ensure you produce the perfect medical clinic business plan .

How to order writing business plan medical clinic

Get in touch with us today for more details on how we can write a medical clinic business plan example for you by filling the contact us form. We look forward to working on your medical clinic business plan .

Download Clinic Business Plan Sample in pdf

Professional OGS capital writers specialized also in themes such as dental practice business plan , wellness business plan , senior center business plan , reiki practice business plan , pharmacy business plans , occupational therapy business plan and many others.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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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

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Income Statement

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Cash Flow Statement

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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!

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

10 Essential Steps for Launching Your Own Outpatient Clinic Business

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• Starting an Outpatient Clinic: The Essential Guide to Budgeting and Beyond

1. Define Objectives & Research The Market

Before starting any business, it is crucial to have a clear understanding of your objectives and the market you are venturing into. Defining objectives will help you set goals and create a roadmap for your business, while researching the market will help you identify potential customers, competitors, and challenges.

Tips & Tricks:

• Conduct a SWOT Analysis: Identify your strengths, weaknesses, opportunities, and threats.
• Identify Your Target Market: Who are your potential customers? What are their needs and preferences?
• Research The Competition: Who are your competitors? What are their strengths and weaknesses?

Once you have a clear understanding of your objectives and the market, it's time to move on to the next step.

Create A Comprehensive Business Plan

1. Executive Summary

2. Company Description

3. Market Analysis

4. Organization and Management

5. Services and Products

6. Marketing and Sales Strategy

7. Financial Projections

8. Funding Requirements

9. Appendix

• Use charts and graphs to visually represent data
• Keep your language clear and concise
• Get feedback from trusted advisors, mentors, and peers

Conclusion:

3. Establish A Budget & Financial Forecast

Starting a new outpatient clinic business can be an exciting venture, but it's important to ensure that you have a solid financial foundation to build upon. From rent and equipment to staffing and marketing, there are many costs involved in opening an outpatient clinic, and it's crucial to establish a budget and financial forecast early on to manage those costs and avoid financial pitfalls.

Here are some key steps to take when establishing your outpatient clinic's budget and financial forecast:

• Research similar clinics: Begin by researching similar outpatient clinics in your area and beyond to get a sense of the costs you may incur. Consider factors like rent, equipment, staffing, marketing, and insurance, and aim to find reliable sources for pricing information.
• Outline projected revenue: Based on your research and the services you plan to offer, outline your projected revenue for the first year of operation. Be realistic and conservative in your estimates, taking into account things like seasonality, competition, and market potential.
• Identify your startup costs: Make a list of all the costs associated with opening your outpatient clinic, including equipment, rent, insurance, licensing, legal fees, marketing, and staffing. Aim to be as comprehensive and specific as possible, so you can accurately estimate your initial investment.
• Create a detailed financial forecast: Using your projected revenue and startup costs, create a detailed financial forecast for the first year of operation. Include monthly projections for both revenue and expenses, so you can monitor your cash flow and pivot as needed.
• Consider hiring a professional accountant to help with budgeting and forecasting, especially if you're not confident in your financial skills.
• Be sure to factor in any unexpected costs or contingencies, such as repairs, legal fees, or natural disasters, that could impact your bottom line.
• Once you've established your financial foundation, revisit your budget and forecast regularly to ensure that you're still on track and adjust as needed.

By taking the time to establish a strong budget and financial forecast, you'll be better equipped to manage the costs and risks associated with opening an outpatient clinic. Remember to be thorough and detailed in your planning, and seek out expert advice if needed, to ensure your clinic's financial success.

4. Secure Capital & Funding

Starting an outpatient clinic business is a great venture for anyone with interest in the healthcare industry. However, opening an outpatient clinic business requires adequate capital and funding to efficiently launch and operate the business. In this chapter, we will discuss the steps to secure capital and funding for your outpatient clinic business.

• Create a Business Plan: A comprehensive business plan is the first step in securing capital and funding for any business. Your business plan should include information about your business, target market, competition, marketing strategy, financial projection, and funding requirements. A well-drafted business plan will help you understand your business and project future returns, which will aid in convincing potential investors to put their funds into your business.
• Approach Investors: Investors are a great source of funding for most businesses. You can approach friends, family, or syndicates who are interested in investing in a profitable venture. Groups like angel investors, venture capitalists, and other private investment firms are also great sources of funding for outpatient clinic businesses. Ensure you present your business plan and its growth potential, showcase your skills and experience, and be prepared to answer their potential questions.
• Take out a Loan: If you are not interested in giving up part of your business as equity, you can opt for a loan. There are various loan programs, including business loans, SBA loans, bank loans, and online loans that can provide funding for your outpatient clinic business. Ensure you have the necessary documentation, including collateral if required, and a repayment plan for when you take a loan for your business.
• Crowdfunding: With the rise of technology and social media, crowdfunding has become a popular way of fundraising for businesses. You can leverage platforms like Kickstarter, GoFundMe, Indiegogo, and other crowdfunding websites to showcase your business and collect funds from interested donors. Ensure you have a compelling story, presentation, and marketing plan to capture the attention of potential donors.
• Seek Government Grants: Governments, both at the local and federal levels, provide funding through grants, especially for businesses in the healthcare industry. Look for grants relating to outpatient clinics, research, community healthcare, and other related fields that best fit your business model. Note that the application process and requirements for government grants vary and take time, so ensure you do your due diligence and meet all the requirements to avoid being disqualified.
• Ensure your business plan is comprehensive and covers all aspects of your outpatient clinic business.
• Be prepared to explain your business growth potential and justify funding requirements.
• Use multiple approaches to secure funds, including a combination of loans, equity investment, crowdfunding, and government grants.

With the above steps, you are well on your way to securing adequate capital and funding for your outpatient clinic business. Remember to explore all available options and settle for what best fits your business and funding needs.

5. Set Up Business Structure & Legal Compliance

Setting up the structure of your Outpatient Clinic Business correctly will ensure that it operates legally and that you meet all of your obligations to the authorities. This will also give you the peace of mind that your business is compliant, minimizing risk. Here are the steps to setting up an Outpatient Clinic Business structure and ensuring legal compliance:

• Choose the Right Legal Structure: This is an essential step that dictates the ownership, liabilities, and tax obligations of your clinic business.
• Register Your Outpatient Clinic Business: This involves registering your clinic with relevant government agencies such as the IRS, state, and city authorities.
• Get Business Insurance: Business insurance is an essential component of any business to protect it against liabilities such as property damage, claims of negligence, and malpractice.
• Obtain Required Permits and Licences: Depending on your state, you may require various permits and licenses to operate your outpatient clinic. It is essential to identify which permits and licenses you require and apply for them before commencing operations.
• Ensure Compliance with HIPAA: As a healthcare provider, you have an obligation to keep patient information confidential. Ensure that your Outpatient Clinic Business complies with the Health Insurance Portability and Accountability Act (HIPAA).
• Develop a Business Strategy: A solid business plan is essential to effectively manage and grow your Outpatient Clinic Business. It should include your target market, goals, finances, personnel, marketing, and operations.

Tips & Trics

• Research your state and local government requirements before selecting a business plan.
• Join an umbrella organization to verify that your Outpatient Clinic Business is compliant with standard industry protocols.
• Ensure all legal paperwork is in order before hiring necessary personnel such as physicians and staff.

In summary, setting up an Outpatient Clinic Business requires strategic planning, a solid business strategy, and adhering to government regulations. By taking the necessary steps to secure the structure and legal compliance of your clinic, you will create a strong foundation for your business to thrive.

6. Receive Necessary Permits & Licenses

Opening an outpatient clinic business requires numerous permits and licenses to operate legally. These permits and legal requirements are necessary to protect the health and safety of your patients, staff, and the community. It is crucial to get all the required permits and licenses before opening your clinic to avoid any legal issues later.

• Contact your state's regulatory agency: Every state has different regulatory agencies responsible for licensing healthcare facilities. Usually, the agency would be the Department of Health or the Board of Medicine. Contact them to get an idea of what permits and licenses your clinic will require.
• Register your business: Register your clinic as a business entity with your state's Secretary of State office. You can do this online, and it will be a straightforward process.
• Obtain a Tax ID Number: Apply for a Tax ID number with the IRS. This will allow you to pay your business taxes and establish a business credit profile.
• Get a Business License: Contact your local city or county government to get a business license.
• Obtain a NPI number: The National Provider Identifier (NPI) is a 10-digit number issued to all healthcare providers in the US. You need to obtain an NPI number before billing any insurance company for the services you provide.
• Apply for other relevant licenses: Depending on your state and the type of services you offer, you may need additional licenses and permits like a Controlled Substance Registration, Radiology Permit, etc. Contact your state regulatory agency to learn more about these requirements.

Tips & Tricks

• Apply for all the permits and licenses well in advance before opening your clinic.
• If you are unsure about any permit or license requirements, consult with a healthcare attorney or business consultant.
• Keep all the permits and licenses up to date and renew them before they expire.

In conclusion, receiving the necessary permits and licenses is an essential step in opening an outpatient clinic business. It may be a time-consuming process, but it is a legal requirement, and you must complete it before you start your clinic. Once you have all the permits and licenses, you can start offering high-quality care to your patients without any legal issues.

7. Look For A Suitable Location & Space

One of the crucial steps that should not be overlooked when starting an outpatient clinic business is finding a suitable location and space. Choosing the right location and space can make or mar your business. This is because you need to find a location that is easily accessible to your target audience, in an area with high traffic, and with adequate facilities.

Here are steps to follow when finding a suitable location and space for your outpatient clinic business:

• Define your target audience: The location you choose should be based on your target audience. Consider factors such as age, gender, income level, and health conditions. Additionally, ensure that the location is easily accessible to your target audience.
• Research the competition: Before choosing a location and space, research other outpatient clinic businesses in the area. This will help you to identify underserved areas, and to avoid areas with high competition.
• Consider the cost: Look for a space that is affordable, but also meets your business needs. It is important to find a balance between cost and quality.
• Check for adequate facilities: Ensure that the space has adequate facilities such as sufficient parking space, waiting areas, and consultation rooms. This will help to create a comfortable environment for your patients.
• Check for zoning laws: Ensure that the location and space meet zoning regulations for an outpatient clinic business.
• Consider leasing a space instead of buying to reduce costs.
• Ensure that the area is safe and secure for your patients.
• Consider the proximity of the location to referral partners such as hospitals and specialists.

Once you find a suitable location and space, it is important to negotiate the lease agreement with the landlord. Ensure that the lease agreement is fair and includes important terms such as length of lease, rent payment terms, and allowed usage of the space.

In conclusion, finding a suitable location and space is a crucial step in starting an outpatient clinic business. By considering your target audience, researching the competition, checking for cost and facilities, and complying with zoning laws, you can find a location that will contribute to the success of your business.

8. Invest In Equipments, Staff, & Inventory

One of the most crucial steps to establishing a successful outpatient clinic business is investing in your equipment, staff, and inventory. Failure to invest in these aspects of your business may lead to negative reviews, lack of clients, and ultimately failure. Below are a few tips that will help you make informed decisions on how to invest in these three areas.

• Make a list of essential equipment and prioritize based on importance.
• Research which vendors offer the best quality equipment at affordable prices.
• Consider leasing options for expensive equipment to defer large upfront costs.

Investing in your staff is another important step in starting your outpatient clinic business. It is essential to find professional, skilled, and knowledgeable employees who share the same vision and goals of your business.

• Create job descriptions outlining the qualifications and skills required for each position.
• Source candidates from reputable job boards and professional networks.
• Be willing to offer higher salaries and employee benefits to attract the best talent.

Finally, you need to invest in your inventory - the products and supplies you offer your clients. Choose your inventory carefully, and focus on quality and affordability.

• Conduct extensive research on suppliers and negotiate favorable pricing agreements.
• Choose high-quality products and supplies that satisfy your clients' needs.
• Develop relationships with suppliers to ensure prompt deliveries, competitive pricing, and volume discounts.

Investing in your equipment, staff, and inventory is paramount to the success of your outpatient clinic business. It requires thorough research, smart decision-making, and careful consideration of your needs and goals. As a pro business consultant, I strongly recommend you take the time and effort to invest in these three areas before launching your business.

9. Develop & Implement Marketing Strategy

Marketing strategy is crucial for any business, and an outpatient clinic is no exception. Your marketing strategy will help you identify your target audience, understand their needs, and reach out to them effectively. Here are the steps you need to take to develop and implement an effective marketing strategy for your new outpatient clinic:

• Research your target audience: Identify the demographics of the patients you want to serve. This will help you develop messaging that resonates with them and choose marketing channels that will reach them effectively.
• Create buyer personas: Once you have identified your target audience, create detailed buyer personas to understand their needs, pain points, and behaviors. This will help you tailor your marketing messaging to their needs and preferences.
• Develop a content marketing strategy: Create informative and engaging content that educates your target audience about your clinic, your services, and how you can help them. This can include blog posts, videos, social media posts, infographics, and more.
• Define your Unique Selling Proposition (USP): Develop a clear and compelling message that sets you apart from your competitors and resonates with your target audience. This will help you differentiate yourself in a crowded market and attract patients who align with your values and mission.
• Choose marketing channels: Determine which marketing channels will be most effective in reaching your target audience. This can include social media, email marketing, local advertising, networking, and more. Prioritize the channels that align with your budget and goals.
• Create a budget: Establish a budget for your marketing activities and allocate your resources accordingly. Monitor your spending to ensure you're getting a good return on investment (ROI).
• Track your results: Monitor your marketing campaigns to determine what's working and what's not. Use this information to refine your strategy and optimize your results over time.
• Engage in community outreach: Participate in local events and sponsor community groups to build relationships with potential patients and generate brand awareness.
• Offer incentives: Consider offering incentives to encourage patients to choose your clinic, such as discounts, free consultations, or referral bonuses.
• Measure your success: Regularly review your marketing metrics and adjust your approach as needed. This will help you stay competitive and ensure your clinic remains successful over the long term.

Tips & Tricks for a Successful Marketing Strategy:

• Invest in SEO: Improve your website's search engine optimization (SEO) to improve your visibility in search engine results and attract more patients.
• Personalize your messaging: Customize your marketing messages to be more relevant and unique to each buyer persona.
• Collaborate with other healthcare providers: Build relationships with other healthcare providers in your area to generate referrals and create a network of support.

10. Monitor Business Performance & Adjust Accordingly

Opening an outpatient clinic business is an exciting time, but it's important to remember that starting a business requires more than just having a great idea. Once you have completed the previous nine steps of our checklist, it's crucial to monitor your business performance and make adjustments accordingly.

• Establish Key Performance Indicators (KPIs) - KPIs help you track your business performance and determine its success. Identify KPIs that are important for your business, such as customer satisfaction, employee productivity, and revenue growth.
• Use Analytics and Metrics - Utilize analytics and metrics to track your KPIs. This data can help you identify trends and areas that may need improvement.
• Regularly Review Financials - Keep a close eye on your financials and regularly review your profit and loss statements, cash flow statements, and balance sheets. This will help you make informed decisions about your business operations.

Once you have established your KPIs, it's important to regularly review them and make adjustments to your business operations as needed. Here are a few tips for monitoring your business performance:

• Set Goals and Objectives - Establish goals and objectives for your business and track your progress. This will help you identify areas that need improvement and make data-driven decisions.
• Stay Up-to-Date on Industry Trends - Keep abreast of industry trends and changes that could impact your business so that you can adjust your operations accordingly.
• Get Feedback from Customers and Employees - Ask your customers and employees for feedback on their experiences with your business. Use this feedback to make improvements and adjustments.

Tip & Tricks

• Regularly reassess and adjust your budget to make sure that it aligns with your business goals and objectives.
• Keep an eye on your competition and adjust your business strategy as necessary to stay ahead.
• Be open to new ideas and innovations, and don't be afraid to pivot your business strategy if necessary.

Establishing a business takes time, effort, and dedication. By monitoring your business performance regularly and making adjustments as necessary, you can ensure that your business stays on track to achieve goals and succeed.

• 5-Year Financial Projection
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Medical Clinic Business Plan Template

Document description.

This medical clinic business plan template has 43 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our medical clinic business plan template:

INSERT IMAGE/LOGO [YOUR NAME] [YOUR COMPANY NAME]] [YOUR ADDRESS] [YOUR CITY], [YOUR STATE/PROVINCE] [YOUR ZIP/POSTAL CODE] [[email protected]] [YOUR PHONE NUMBER] INSERT MOTTO

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3,000+ templates & tools to help you start, run & grow your business, all the templates you need to plan, start, organize, manage, finance & grow your business, in one place., templates and tools to manage every aspect of your business., 8 business management modules, in 1 place., document types included.

Breaking Down the Costs of Opening an Outpatient Clinic: Tips to Help You Launch a Successful Healthcare Venture

Related blogs.

• The Unsung Profitability of Outpatient Clinics: Revealing the Hidden Gems of the Healthcare Industry
• Measuring Success: The Top 7 Outpatient Clinic KPI Metrics You Can't Ignore
• Ready to Transform Your Passion for Healthcare into a Profitable Outpatient Clinic Business?

Startup Costs

Electronic health record system, medical equipment, office supplies, marketing and advertising, licenses and permits, legal and consulting fees.

Are you considering opening an outpatient clinic? You're not alone. According to the latest statistics, the healthcare industry is projected to experience significant growth in the coming years.

However, starting a clinic can be expensive, with many initial costs to consider. From leasing a facility to purchasing equipment, the expenses can add up quickly.

But don't let that discourage you. With careful planning and budgeting, you can successfully launch your own outpatient clinic.

In this article, we'll take a closer look at the startup expenses involved in opening an outpatient clinic and provide some tips for managing those costs.

• Lease or purchase of a facility
• Equipment and supplies
• Licensing and permit fees
• Marketing and advertising

Ready to learn more about the costs associated with opening an outpatient clinic? Keep reading to find out.

Starting an outpatient clinic can be a significant investment. You will need to consider several expenses to launch your clinic, including medical equipment, office supplies, legal fees, and marketing costs. All of these costs depend on your location, size of the facility, and the clinic's specialty.

One of the most significant expenses when starting an outpatient clinic is medical equipment. These expenses can range from $50,000 to $250,000, depending on the type of clinic you are operating. Additionally, you will need to purchase furniture for waiting rooms, examination rooms, and administrative offices.

Another essential expense to consider is your electronic health record system. You will need to purchase software that can manage patient records, insurance claims, and billing. Costs for an electronic health record system can range from $5,000 to $50,000.

You will also need to budget for office supplies, such as computers, printers, and office furniture. Marketing and advertising expenses can range from $10,000 to $20,000. Expenses for legal and consulting fees and permits can range from $1,000 to $20,000.

In conclusion, launching an outpatient clinic can be a significant investment. However, by budgeting and researching these costs, you can set yourself up for success and build a thriving practice.

Starting an outpatient clinic comes with several significant expenses, and one of the most significant is the Electronic Health Record (EHR) System. In the modern-age, technology has advanced greatly, and that means computer systems have become an essential part of medical practice. The EHR system can assist in documenting patient medical history, details of medical diagnoses, and treatment plans. This system can help a clinic operate more efficiently and provide better patient care.

• The cost of an EHR system can vary from $35,000 to $50,000 on the lower end of the scale.
• On average, most clinics spend about $80,000-$100,000 on this system.
• However, large-scale systems with many unique features can cost upwards of $200,000.

The cost of an EHR system depends on many factors, including the number of providers, the needed software, integration with other devices, data storage requirements, and the level of customization required for the practice. The higher the level of customization, the more expensive the cost of development.

Tips & Tricks

• When selecting an EHR system, establish a budget.
• Consider opting for a vendor with beforehand designed templates to save on customization cost.
• Carefully research all the system features of the EHR system before deciding with a due signing of an agreement. Otherwise, your clinic may end up with a system that does not have the essential features you need, leading to a wastage of resources.

In conclusion, EHR system costs can be one of the most significant expenses in opening an outpatient clinic. However, by carefully considering the needed features and functions for the clinic and communicating with suitable vendors, the cost can be decreased, saving valuable resources that can be used for patient care.

Starting an outpatient clinic may seem like a challenging endeavor, but with proper planning and budgeting, you can realize your dream. One of the critical considerations when starting an outpatient clinic is equipping it with the necessary medical equipment. Here's a breakdown of the costs you should expect.

According to data from the Health Industry Distributors Association , a small outpatient clinic with a minimum staffing level will spend an average of $300,000 to $500,000 on Medical Equipment in their first year. This amount increases to $1 million to $2 million for larger clinics with more significant staffing requirements. It is, therefore, essential to have a solid business plan that factors in all the necessary equipment before applying for financing.

• Tip 1: Prioritize Essential Medical Equipment
• Tip 2: Leasing Medical Equipment Can Be Cost-Effective
• Tip 3: Consider Purchasing Refurbished Equipment

Tips & Tricks:

When starting out, it is tempting to invest in the latest medical equipment and technology. However, you need to prioritize medical equipment that aligns with the services you provide. This will help you manage costs and ensure efficient use of your resources.

If you don't have the funds to purchase all the necessary equipment, you can lease the equipment. This will enable you to get the equipment you need without burdening your finances. Leasing can also provide you with the flexibility to upgrade your equipment as technology changes.

Purchasing refurbished equipment can save you up to 50% of the cost of new equipment. Refurbished equipment has been restored to excellent condition and comes with a warranty. This can be a cost-effective way to acquire the equipment you need.

Starting an outpatient clinic is an achievable goal with careful planning and budgeting. The cost of medical equipment is one of the significant costs you will incur. However, prioritizing essential equipment, leasing, and purchasing refurbished equipment can help you manage costs.

When it comes to opening an outpatient clinic, one of the largest expenses will be the cost of furniture. The furniture cost will depend on the size of your clinic, the type of furniture you purchase, and where you purchase it from.

The average cost of furnishing an outpatient clinic with new furniture ranges from $15,000 to $30,000. This includes everything from desks, chairs, exam tables, and waiting room furniture. However, if you opt for used furniture, you can reduce this cost significantly and save as much as 50% of the total cost of furnishing your clinic.

Tip 1: Consider purchasing your furniture from websites that specialize in used office furniture, such as Office Furniture Warehouse or EthoSource. These websites provide a range of used furniture options in excellent condition and at a fraction of the cost of new furniture.

• Desks and Chairs: Expect to pay around $2,000 to $5,000 for a desk and chair combo. Keep in mind that ergonomic chairs and desks will be more expensive, but the investment is worth it for the comfort and long-lasting use.
• Exam Tables: An exam table can cost between $1,000 and $3,000, depending on the features and quality of the table. It is important to consider the needs of your clinic, such as adjustable height or additional storage, when purchasing an exam table.
• Waiting Room Furniture: Waiting room chairs range from $100 to $300, while a sofa or loveseat can cost between $500 and $1,000. Again, consider used furniture options to save money.
• Tip 2: Consider purchasing furniture with warranties or guarantees to ensure that your investment is protected and any necessary repairs or replacements are covered.
• Tip 3: Be mindful of the layout and design of your clinic when selecting furniture. Opt for furniture that is comfortable for patients and staff and reflects the image and branding of your clinic.

When it comes to starting an outpatient clinic, cutting costs can be essential, but you don't want to sacrifice quality for a lower price. By following these tips and tricks, you can save money on furniture without compromising on comfort, quality, or style for your patients and staff.

When it comes to starting an outpatient clinic, one of the primary expenses you'll encounter is office supplies. These supplies are necessary for daily activities like patient appointments, administrative work, and maintaining a clean and functional facility. In this post, we'll explore the average costs associated with office supplies for a new outpatient clinic.

• Computer and software: A good computer and software are essential for managing patient records, billing, and other administrative tasks. Depending on your needs, you can expect to spend between $1,000 and $3,000 on a computer and software.
• Office furniture: This includes chairs, desks, filing cabinets, and other necessary furniture. You can furnish a small office for around $5,000, while larger offices may require up to $20,000 in furniture costs.
• Medical equipment: Depending on the services you offer, you may need to invest in medical equipment, such as diagnostic machines or examination tables. The cost of this equipment can vary widely, ranging from a few thousand dollars to tens of thousands of dollars.
• Supplies: Everyday supplies such as paper, toner cartridges, and pens may seem minor, but they can quickly add up. Plan on spending around $1,000 per year on supplies.
• Cleaning supplies: Maintaining a clean and healthy environment is crucial for any healthcare facility. Plan on spending between $500 and $1,500 per year on cleaning supplies.

Tips and Tricks:

• Consider purchasing used furniture or medical equipment to save money on startup costs.
• Research suppliers to get the best deals on office supplies and cleaning materials.
• Create a budget for office supplies and stick to it to avoid overspending.

In summary, the cost of office supplies for a new outpatient clinic can vary widely based on the size, needs, and services offered at the clinic. However, by researching suppliers, budgeting carefully, and considering used equipment, you can keep costs manageable and launch your clinic with confidence.

Starting an outpatient clinic can be a lucrative business venture. However, before launching an outpatient clinic, there are several factors to consider, including the cost of marketing and advertising. According to recent statistical information, the costs/expenses for marketing and advertising for an outpatient clinic can range from $10,000 to $20,000 on average.

• Design and development of a website ($2,000 - $5,000)
• SEO and PPC advertising ($2,500 - $5,000)
• Print Ads ($1,000 - $3,000)
• Social Media Promotions ($500 - $1,500)
• Media Buying ($1,500 - $2,500)
• Event Marketing ($1,000 - $2,500)

While the marketing and advertising costs may seem high, it is essential to remember that these costs are crucial to building a brand and attracting patients to your clinic. Therefore, it is essential to invest in a well-defined marketing strategy that promotes your clinic's services and capabilities to the right demographic.

Marketing Tips for Outpatient Clinics

• Target your audience: Determine your niche target market and build your marketing and advertising strategies accordingly. This will help you in identifying the demographic you need to target and keywords to use in your PPC ad campaigns.
• Create a Professional Website: A professional-looking website with relevant content describing your services, staff, contact information, and hours of operation will help your clinic make a favorable first impression on potential patients.
• Use Social Media: Social media platforms have become an important medium for businesses to connect with their target audiences in the healthcare sector. Use social media to share healthcare tips, promote your services, offer discounts, and interact with your patients.

In summary, starting an outpatient clinic is not an easy undertaking. It requires strategic planning and investment in marketing and advertising to create a brand identity and attract potential patients. It is essential to create a marketing plan that targets the right audience and invests in multiple channels to spread the word about your clinic's services.

Opening an outpatient clinic requires a variety of licenses and permits. The cost of these permits varies based on state and local regulations. It is important to check with the local government to understand the specific requirements. In general, the cost of these licenses and permits can range from $500 to $5,000.

The primary licenses and permits required to open an outpatient clinic are:

• Business License – $50-$400
• Medical License – $350-$1,500
• Drug Enforcement Administration (DEA) Registration – $731 per year
• Clinical Laboratory Improvement Amendments (CLIA) Certificate – $150-$300 per year
• HIPAA Compliance – $100-$1,000
• Occupancy Permit – $200-$1,000
• Research the required licenses and permits before starting the clinic to ensure compliance.
• Include the cost of licenses and permits in the initial budget to avoid unexpected expenses.
• Consider hiring a consultant to assist with the licensing process.

It is important to note that failing to obtain the appropriate licenses and permits can result in hefty fines and legal consequences. It is crucial to remain compliant with state and local regulations to avoid unnecessary fees and penalties.

Before launching an outpatient clinic, it is essential to consider all the necessary expenses. Legal and consulting fees are a crucial factor to consider when starting a clinic. Although some startups opt to save on these costs, legal and consulting fees should never be overlooked. Here is some essential information to keep in mind in regards to legal and consulting fees.

• Legal fees: Starting a medical clinic will require legal services to ensure compliance with all legal and regulatory requirements. This includes legal compliance, obtaining licenses and permits, and ensuring you have appropriate contracts and agreements in place. Legal fees can vary widely depending on location and legal requirements. Typically, legal fees can range from $5,000 to $15,000.
• Consulting fees: Consulting fees cover any professional advisory services required for the business. This can include everything from accounting to marketing services. Per hour consulting fees can vary based on the type of work required. Typically, consulting fees can range from $100 to $400 per hour.
• Total expenses: Combining both legal and consulting fees can bring the total startup expenses for the clinic to about $15,000 - $20,000.
• Compare various legal service providers before selecting anyone.
• Avoid cutting costs on legal and consulting services.
• Read through and understand contracts even if you're partnering with a consultancy firm. It will help you make better decisions.

Medical clinics are subject to specific rules and regulations, and the aforementioned fees are crucial for making sure you're staying in compliance. With over decades of experience, as pro business consultant, I have helped numerous businesses start and thrive. Now that you understand the importance of these fees, it's time to factor them in your budget and continue your journey towards starting your own outpatient clinic.

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Financial modeling spreadsheets and templates in Excel & Google Sheets

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Outpatient Clinic Financial Model Excel Template

Shop Outpatient Clinic Financial Model Template. Enhance your pitches and impress potential investors with the expected financial metrics. A sophisticated 5 year outpatient clinic pro forma needed, whatever size and stage of development your business is. Minimal previous financial planning experience and very basic knowledge of Excel is required: however, fully sufficient to get quick and reliable results. Outpatient Clinic Financial Projection Excel helps to estimate required startup costs. Unlocked – edit all – last updated in Sep 2020. A robust outpatient clinic financial model excel template tool. No matter size or startup development stage are, with minimal financial planning experience and basic knowledge of Excel you can build a complete financial plan.

NOTE:  Single-User pertains to a limited Single User License where the template can only be used by one single user; while Multi-User is a license for users sharing the template with up to 20 members. Please refer to  Terms of Use  and  License and Permitted Use  for clarification.

OUTPATIENT CLINIC CASHFLOW PROJECTION KEY FEATURES

Video tutorial:

Update anytime You can easily adjust inputs at the launch stage and throughout the further activities of your business to refine your Outpatient Clinic Profit Loss Projection.

Convenient, All-In-One Dashboard Includes all required forecasting reports, including assumptions, pro forma profit and loss, projected cash flow statement format, balance sheets, performance reviews and summaries for months and years (incl. numerous graphs and KPIs).

Avoid Cash Flow Shortfalls Unexpected Cash Flow Statement Proforma shortfalls can cause significant damage to your business, and it may take months to recover. Negative Cash Flow can appear if you don’t continuously track the incoming cash and outgoing of your business. Fortunately, you can solve Projected Cashflow Statement shortfalls with a bit of effort. Forecasting your Cash Flow Statement For 5 Years will help you identify — and plan for — market fluctuations, sales seasonality, and other cases that can lead to unpredictable Cashflow Forecast. Startup Cash Flow Statement can even help you visualize Cash Flow Statement Projection trends with the help of automatically generated charts and graphs.

Build your plan and pitch for funding Impress bankers and investors with a proven, solid outpatient clinic financial model that impresses every time.

Easy to follow Clear and transparent Outpatient Clinic Pro Forma Budget structure (15+ separate tabs, each focusing on a specific planning category, colour coded => input, calculation and report sheets).

Get a Robust, Powerful and Flexible Financial Model This well-tested, robust and powerful Outpatient Clinic Pro Forma Template is your solid foundation to plan a business model. Advanced users are free to expand and tailor all sheets as desired, to handle specific requirements or to get into greater detail.

REPORTS and INPUTS

Benchmarks The financial benchmarking study tab in this Five Year Financial Projection Template will help the companies assess their key performance indicators and compare them with other companies’ KPIs.

The term ‘benchmarking’ means the process of comparing the business, financial or other metrics of your company to that of other firms within the same industry. It is essential to use other businesses’ best practices in the same industry as a ‘benchmark’ to improve your own company’s standards. As a result of the benchmarking study, companies can learn how to operate in a certain industry more efficiently. This benefit makes the financial benchmarking study an essential planning tool for start-ups.

Profitability KPIs Growth of net income. Many financial metrics can be calculated from the Outpatient Clinic 3 Way Financial Model Template. Entrepreneurs want to see the growth of their company, and the growth of net income is one of the essential metrics that shows that the company is growing and developing. This metric means that the sales are growing and costs are managed wisely, and, respectively, the pro forma income statement for startup shows the net income growth.

Performance KPIs Return on equity. The return on equity financial metric can be calculated based on the information both from the Balance Sheet and pro forma profit and loss. It measures the correspondence of earnings to the equity, i.e., the amount of money used to get profits.

Valuation With our pre-built valuation template in the Outpatient Clinic Financial Model, you will receive all the data your investors might need. The weighted average cost of capital (WACC) will show your stakeholders the minimum return on enterprise funds invested in its activities capital. Free cash flow valuation will show a cash flow available to all investors, including shareholders and creditors. Discounted cash flow will reflect the value of future cash flows in relation to the current time.

Liquidity KPIs Quick Ratio or Acid-Test Ratio. The quick ratio or acid-test ratio uses a firm’s balance sheet data to analyze if it has sufficient short-term assets to cover its short-term liabilities. This metric ignores less liquid assets like such as inventory.

All in One Place This Outpatient Clinic Financial Projection Template Excel is key for investors. You will need a Pro Forma Template Excel to validate how much money you need to start-up with and how much your investor can make on this investment. Remember that investors are not tolerant to start-ups that do not have a business plan or a Financial Projection Model Excel.

Sources and Uses The sources and uses of funds proforma in this Outpatient Clinic Profit Loss Projection tell stakeholders the sources where a company obtains its money and how it spends it.

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Developing A Business Plan for Your Mental Health Private Practice

Business plans act as the foundation for any type of business and are important for setting benchmarks to measure success. But how do you write a business plan for a mental health private practice? Valant takes a look at the components of a business plan and translates it into an easy-to-use framework for both mental health professionals looking to start their own private practice and those looking to expand their current practice. Check out our guide to creating an effective private mental health practice business plan below.

Mission Statement / Vision Statement:

As behavioral health providers, you all are in the business of saving lives. But what makes your services unique? What value are you bringing? Make sure when you are drafting your mission statement you answer these four questions:

• What does my practice do?
• How do we do it?
• Whom do we do it for?
• What value does your practice bring?

Description of your Practice and Service:

What is your service delivery model? What kinds of patients do you want to see, including age range and presenting problems? How many hours per week do you wish to work and on what days? What types of services will you provide (e.g. therapy versus medication management)?

Legal Framework:

The three basic choices for your psychiatric business entity are: sole proprietorship, LLC, and S corporation . The choice is based mainly on relative costs, tax implications, and general business liability (rather than professional liability). If you do plan to expand to a group practice, you should probably consider an LLC or S corporation so you have the option of continuing under the same tax ID number, but we recommend consulting with a local accountant and lawyer with experience working for other health care providers before deciding.

Mental Health Practice – Operations Model:

Operating processes can be broken up into four categories: facilities, front office, back office, and insurance.

Facilities refers to your plan for location, furniture, phone, internet, hardware, and any other tangible item or service that enables you to provide your clinical services.

Front-office refers to your plan for handling non-clinical patient facing interactions such as your intake process, administrative phone calls, reception and scheduling, eligibility and verification checking, handling of patient payments, no show and cancellation policies, and prescription management policies and procedures.

Back-office functions are dominated by medical billing but could also include transcription services and handling of documents.

Insurance refers to the package of insurance that you’ll need, including general liability, professional liability, or any other insurance you might want for you or your staff (medical, dental, and long and short term disability).

An electronic health record has the potential to influence and streamline all operation models, so it is important to have the right EHR in place.

Watch our product videos to see how Valant’s EHR and practice management system streamlines operations for mental health private practice

Team refers to internal staff and outside consultants such as a lawyer, accountant, bookkeeper and medical biller. We recommend developing a strategic employee incentive system that addresses benefits, compensation, appreciation, and recognition. One of the most costly expenses your practice can endure is staff turnover. Want to learn more including recruiting tips? Watch our webinar “How to Recruit and Retain Top Talent in your Mental Healthcare Practice”

Get a Personalized Live Demo

We would love to show you how Valant can help your practice.

Starting Your New Practice

Chart a Path to Start a Successful Practice

Developing A Business Plan for Your Mental Health Private Practice continued…

Marketing Strategy / Generating Patient Flow:

Especially for new practices, it’s important to dedicate a certain number of hours each week to marketing your private practice , generating patient flow, and supporting your practice’s capacity goals. Many practitioners find that word-of-mouth marketing and/or referrals are their most effective sources of new patients; in today’s saturated therapeutic market, however, establishing a digital presence may also be necessary.

Building A Website

With that in mind, building a website (or hiring a professional to build one for you) is the natural first step in promoting your practice online. Your website will act as the home base for all of your digital marketing efforts — meaning, every other digital marketing initiative you try should direct traffic back to your website. As the foundational piece of your marketing strategy, your website should be intuitive, attractive, and optimized for search engine visibility.

It will also be important to support your website with new, high-quality content once it is built out and launched. Starting an informative, active blog can be a fantastic way to highlight your expertise, reach engaged audiences, and support your positioning in search engine results.

Referrals & Directories

In most cases, the two most common means for finding new patients are to 1) utilize and nurture a referral network and 2) be on insurance contracts. This makes sense in practice; people trust other people to give honest referrals of a practitioner and their practice. They also want to ensure the provider is on their insurance network before moving forward.

With that in mind, you will need to develop referral sources to generate patient flow and to build the kind of practice that you want. Your referral sources will know your strengths and weaknesses and will refer accordingly.

In the online space, users often look to directories, insurance networks, and review sites to determine whether a provider is a right fit for them. Having active, complete profiles or listings on as many directories as applicable ensures you’re considered in the most relevant patient-provider searches possible. Additionally, directories and review sites act as an opportunity for current patients to leave reviews, providing invaluable feedback to support your practice’s long-term success.

A few examples of relevant, high-traffic directories you could sign up for include Google My Business , Psychology Today , GoodTherapy , or most social media platforms. Depending on the supply and demand characteristics in your area, however, being on insurance contracts and having profiles on insurance networks is sometimes all that is needed. 

Generating Patient Flow:

The two most common means for finding new patients are to utilize and nurture a referral network and to be on insurance contracts. Depending on the supply and demand characteristics in your area, being on insurance contracts is sometimes all that is needed. But, in most cases, you will need to develop referral sources to generate patient flow and to build the kind of practice that you want. Your referral sources will know your strengths and weaknesses and will refer accordingly.

Financial Model:

It is not necessary to have fancy financial projections to start and successfully operate a small psychiatric private practice, but it’s important to have an idea of what your net income will be and to understand the variables. Let’s break down the equation: net income = revenue – expenses.

Revenue Revenue = Average fee per face to face hour x hours worked It’s easy to overestimate this number by overestimating collections rates, fees paid by insurance for a unit of service, show rate, and patient flow. We recommend budgeting for 20% less than whatever you come up with in your plan, at least until you get validation from real revenue.

Expenses Expenses = Facilities + Front Office + Back Office + Insurance

A basic rule of thumb for expenses is that they represent anywhere from 15-30% of total revenue for a solo practice. If you employ staff or outside services for front office and back-office work, they tend to be divided pretty equally between the three. If you do not employ staff, then these expenses are more heavily loaded on facilities. Make no mistake, you are paying for those front office and back-office functions with your time. This is where the concept of opportunity cost applies. The cost of your time is dependent upon either the value you place on your time or the revenue you could generate by seeing patients during that time. However, opportunity cost does not explicitly appear in your financial statements.

If you would like to learn more about these financial metrics, we recommend reading our blog Financial Metrics 101

Behavioral Health Performance Indicators

20 Important KPIs for Private Practices

Private Practice Business Plan Template

Private therapy practice tips:.

• Don’t sweat excessively about location. You will probably move within 2 years. At that point, you’ll better understand your needs. You’ll also better understand the nature of your local market and the level of competitor saturation ; especially in areas where therapy is popular, it’s important to identify your niche and find an area where you can assert yourself as the local expert, rather than offer the same expertise as competitors in your neighborhood. Modern telehealth technology also makes the location of your practice less important. By offering virtual sessions in addition to in-person visits, you can reach a larger network of patients, regardless of their proximity to your practice. Learn more about Valant’s telehealth software .
• Networking always pays off in terms of building the type of practice you want. Start early since that is when you will have the most time.
• Most small business owners overestimate revenue, especially during transitions. Make sure that you have other sources of cash during your ramp up including other part-time work, savings, or a line of credit.
• Understand the opportunity cost. There are many things in life that you love and do well. If you don’t love medical billing, don’t do it. That time could be better spent elsewhere.
• Start with a behavioral health care focused Electronic Health Record. By using an EHR focused on your specialty, you’re eliminating spend on features and functionality that is not going to be pertinent to your practice, plus gaining efficiencies in having technology workflows that are intuitive for your discipline. It’s easier to build it into the fabric of your practice from the beginning rather than switching later.

At Valant, we’re focused on providing great technology — as well as the business knowledge you need — to help your practice run smoothly and profitably. Want to learn more about Valant’s EHR and practice management suite for behavioral health?

Visit us on Facebook , Twitter , LinkedIn

Related Resources

Launching Your Outpatient Clinic: Startup Expenses to Consider

By alex ryzhkov, resources on outpatient clinic.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan
• Bundle Business Plan & Fin Model

Introduction

Outpatient clinics are some of the most common and most profitable businesses in the health care industry. According to recent estimates, the U.S. outpatient clinic market was valued at $2.6 trillion in 2019 and is projected to reach $3.6 trillion by 2026, representing a compound annual growth rate of 4.2%.

Opening an outpatient clinic is a complex process that requires careful planning. It involves selecting the right location and obtaining all the necessary permits, licenses, and legal documents needed to comply with healthcare regulations. Moreover, you need to purchase medical equipment, furniture, fixtures, and technology. Ultimately, you have to pay for advertisement and marketing, recruiting staff, and leasehold improvements. All of that leads to hefty upfront costs.

In this blog post, we will discuss how much it costs to open an outpatient clinic and give you advice on how to finance it.

Outpatient Clinic Financial Model

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Startup Costs

The cost of launching an outpatient clinic depends on a wide range of factors. Depending on the geographic area, clinic size, and specialty, costs can range from $150,000 for a small primary care clinic to around $750,000 or more for a larger, specialty-focused clinic. Here is a breakdown of the main expenses associated with the startup of an outpatient clinic:

The total cost of launching an outpatient clinic will ultimately depend on the size, scope, and location of the clinic. Additionally, there may be additional costs associated with hiring staff, training, and marketing and advertising. To stay on budget, it is wise to work with a professional advisor to ensure you understand all the costs associated with your particular project.

Licensing & Permitting

Equipping and opening an outpatient clinic is a complex endeavor requiring many licenses and permits, including those related to health, business and building operations. The costs of Licensing & Permitting vary according to the state in which the clinic is located.

• In the US, the cost of Licensing & Permitting can range from $100–$5,000 per licensing/permitting entity and process.
• Licensing & Permitting fees may also be higher for specialty clinics, such as medical and cancer centers.
• The total cost for Licensing & Permitting for an outpatient clinic ranges from approximately $20,000 to $50,000, on average, with some states requiring over $100,000 in initial licensing and permitting fees.

It is important to research the availability and cost of Licenses & Permits for your state or region prior to establishing an outpatient clinic. It may be helpful to contact a business attorney or other professional that can provide assistance with researching and securing the appropriate Licenses & Permits.

Keep in mind that Licensing & Permitting costs are only part of the total budget needed to open an outpatient clinic. Other costs may include staff payroll, equipment, and other overhead costs.

Leasehold Improvements

Leasehold improvements are renovations on a commercial property done to customize it to the needs of the tenant. This may include painting, flooring, ceilings, walls, electrical or plumbing work, or the installation of specific services, such as telecommunications wiring, security systems, and temperature control systems. The cost of Leasehold Improvements is the cost of all renovations and customizations that have to be done to the property to make it suitable for the tenant.

Leasehold Improvements can vary depending on the type of clinic you are looking to start. Estimates on the cost of Leasehold Improvements can range anywhere from $30 to $150 per square foot. This varies depending on the facility’s size and the type of renovations required. Additionally, some landlords have restrictions on the type of leasehold improvements tenants can perform, so make sure to read the fine print of your lease before signing it.

On average, the cost of Leasehold Improvements for an outpatient clinic can range from $50 to $100 per square foot.

If you are looking for ways to cut costs on Leasehold Improvements, you can consider doing some of the renovations yourself. For example, you can take on tasks such as painting or installing shelving units and other small items. Additionally, you can choose to repurpose existing furniture, fixtures, or appliances instead of buying new ones. This can help to minimize the costs of Leasehold Improvements and can potentially save you hundreds of dollars.

Medical Equipment

Starting an outpatient clinic involves several underlying costs. Depending on the type and size of your clinic, you may require specialized medical equipment to provide the type of care you’re looking to offer. Medical equipment costs can range widely, but it is important to understand what equipment is necessary, what will benefit you in the long run, and how much you can expect to pay.

When it comes to specific medical equipment, prices can vary greatly. For example, a basic stethoscope can cost as little as $30 USD, while a computer radiography system can range from $100,000 to $200,000 USD. An ultrasound machine can cost anywhere from $25,000 to $150,000 USD, depending on the size and features. Dental equipment can cost even more, with a basic dental x-ray image unit priced in the range of $15,000 to $45,000 USD. In addition to these costs, you will also need to purchase other supplies for the clinic, such as medical office furniture, patient-room equipment, and lab supplies.

It’s important to stay updated on the latest technological advancements in medical equipment. With the ongoing development of medical technology, the cost of medical equipment can range from very inexpensive to quite expensive. By keeping up to date on the latest trends in medical equipment, you can make sure you are investing in the right pieces of equipment for your clinic.

Overall, the cost of opening an outpatient clinic depends on a variety of factors, including the type of clinic you’re opening, the services you plan to offer, and the medical equipment and supplies that are necessary. For any clinic, medical equipment will be one of the biggest upfront costs. However, investing in the right pieces of equipment can provide immense benefits to your clinic in the long run, allowing you to provide the best quality of care to your patients.

Furniture & Fixtures

Opening an outpatient clinic requires a substantial investment in furniture and fixtures. Some of the basic furniture and fixtures needed for a clinic include the reception desk and waiting room chairs, examination tables, storage units, waste and linen receptacles, and medical cabinets. The cost of these essential items will vary depending on the quality, size, material, and design chosen. Additionally, any specialized medical or therapeutic equipment, such as X-ray machines, must be purchased separately. On average, the cost of purchasing furniture and fixtures for a clinic ranges between USD 10,000 and USD 15,000.

Of course, the exact amount that you pay for furniture and fixtures will depend on your particular needs. For starters, bigger clinics will more furniture than smaller ones. As an example, larger waiting rooms need more furniture and fixtures to accommodate more patients. Quality is another factor that can impact cost. In general, higher-end furnishings will cost more but will also offer greater durability over time. If you’re looking to save money, there are other options, such as used or refurbished furniture.

To keep the cost of your outpatient clinic within budget while still providing quality care and a comfortable waiting experience, you should research available options and shop around for the best furniture and fixtures at the best prices. Additionally, you should factor in a cushion in your budget in case something unforeseen happens and you need to replace any of the furnishings.

Building Costs

The cost of opening or launching an outpatient clinic varies widely depending on factors such as location, size of the building, complexity of care, and staffing. According to research from 2019, the median cost to construct and equip an outpatient clinic was $314 per square foot, amounting to an estimated $9,079,000 for a 30,000 square feet outpatient clinic that includes full medical and diagnostic services. This estimate excludes the cost of land, but does include the cost of licensing, permits, and fees.

The cost for the building of an outpatient clinic can be broken down into several components. The largest portion of the building costs is for the construction ($193 per square foot). This factor covers the labor costs for architects, engineers, contractors, and subcontractors, as well as materials and supplies. The lowest cost in construction is for the interior finishes, ranging from $2 to $20 per square foot. Other costs related to outpatient clinics include the cost of major equipment ($37 per square foot) and the cost of technology ($12 per square foot).

When opening or launching an outpatient clinic, other costs should be considered in addition to construction costs. Additional costs include administrative and marketing, as well as ongoing costs such as insurance, payroll, and utilities. These costs can easily add up to several million dollars in additional expenses. Business owners may also wish to consider factors such as landscaping and parking. In some states and cities, environmental impact and sustainability may also have to be taken into consideration.

Technology & Software

When launching an outpatient clinic, technology and software are a necessary part of the process. Technology and software helps owners run the clinic in a more organized and efficient manner, and can also help increase profits and productivity. The costs associated with this technology, however, can vary widely depending on the type and amount of software used.

Basic Technology Costs

For an outpatient clinic, the most basic technology will likely include a computer system, including a main processing unit, a printer, and a modem. These items can cost a few hundred dollars for even the most basic systems. Additionally, you may need to add additional items such as software, external hard drive, scanners, and other peripheral devices.

Software Costs

Software is often the most expensive portion of the technology costs associated with setting up an outpatient clinic. Most clinics will need at least basic office and medical software, such as Word and Excel. Additionally, many clinics will require specialized software, such as Electronic Health Records (EHR), scheduling and billing software, as well as software for patient management and data tracking.

According to recent statistics, the average cost of EHR software alone is between $20,000 and $40,000 USD. Scheduling and billing software can cost up to $15,000 USD, depending on the type and complexity of the software.

Ongoing Maintenance and Support Costs

In addition to the cost of purchasing the technology and software for your clinic, it is important to consider the ongoing maintenance and support costs associated with maintaining the technology and software. These costs can include subscription fees, technical support services, and upgrades.

Subscription fees for software, such as EHR systems, can cost up to $10,000 USD per year. Additionally, the clinic may need to hire a dedicated staff member to maintain the software, or outsource the work to a technical support company, which can cost up to $5,000 USD per year.

Finally, many software programs require regular updates, which can require additional fees, and can range from a few hundred to a few thousand dollars depending on the type of software that is being updated.

Employee Salaries

When starting an outpatient clinic, it is important to consider the costs of salary for staff. Paying for the salaries of doctors, nurses, and other staff can be one of the most expensive components of running an outpatient clinic. According to the Bureau of Labor Statistics, in May 2019 the average salary for a registered nurse in the United States was $75,510 per year, while anesthesiologists had an annual salary of $265,990. Psychiatrists earned an annual salary of $208,000 a year and physician assistants made a median salary of $109,820 per year.

It can be difficult to estimate the cost of employee salaries when starting a new outpatient clinic. The salary of individual staff members will depend on their position, experience, location and the size of the clinic. For instance, a mid-sized clinic in a large city will likely have higher staffing costs than a small clinic in a rural area. Some larger clinics may even employ medical directors or physical therapists, all of which will add to the costs.

In addition to the cost of employee salaries, it is also important to consider the cost of benefits packages. Benefits packages can include health insurance, paid leave and retirement plans as well as any bonuses or other incentives offered to staff. These additional benefits can add up, so it is important to consider them when budgeting for a new outpatient clinic.

It is also important to remember that most employee salaries and benefits must be paid through payroll taxes. Rate of taxation can vary from state to state and can also be different for different medical professionals. Therefore, it is important to factor in any additional payroll expenses when working out the cost of employee salaries.

Overall, it is important to remember that employee salaries are usually the largest expense when starting an outpatient clinic. Careful budgeting and planning is essential to ensure that you are able to cover all salary and benefit costs for your staff.

Plumbing & Electrical

When opening an outpatient clinic, one of the greatest costs that must be considered is the cost of plumbing and electrical work. Plumbing and electrical services are necessary for many aspects of the clinic such as sanitation functions, energizing the facility, and complying with government codes for a safe and productive space.

According to a 2019 report from the Bureau of Labor Statistics, the cost of plumbing and electric ranged from approximately $57 to $75 per hour. This pricing can vary significantly depending on the complexity of the job, the location of the clinic, and the size of the project. Furthermore, the cost of materials can add to the overall cost of plumbing and electrical.

To budget for the costs associated with this particular area of the clinic, some research is necessary. Careful research into local plumbing and electric codes, as well as into reputable contractors and businesses, will ensure that the best contractor is chosen for the job at a fair and reasonable cost. Additionally, it is likely that multiple quotes will be necessary in order to select the most cost-effective option.

It is also important to consider the time necessary to complete the project. Many contractors require a certain amount of time to complete the job, and it includes labor. This can have a considerable impact on the overall cost as it might take longer than anticipated. Additionally, this time can impact the opening date of the clinic as it is likely that the project will need to be running before the clinic opening date.

When starting up an outpatient clinic, it is important to budget correctly for plumbing and electrical services. Doing so will ensure that the clinic is able to operate successfully in a safe and compliant environment. This, in turn, will help the clinic to be profitable and productive for many years to come.

Advertising & Marketing

When starting or launching an outpatient clinic, advertising and marketing are essential aspects that should not be overlooked. With many potential patients searching for physicians and healthcare services online and through social media, not having an established presence can make it difficult to achieve success. According to Statista, in 2019, the average U.S. company spent $6,846 on digital marketing and $24,055 on traditional marketing.

Online marketing strategies, such as search engine optimization and pay-per-click advertising, are also important for your outpatient clinic. With search engine optimization, you can ensure your clinic's website appears in search engines like Google as people search for health services. Pay-per-click advertising, on the other hand, allows you to place ads wherever potential patients are searching for healthcare services. According to Business 2 Community, the average cost per click (CPC) for healthcare-related ads is around $2.52 , up 8.8% since 2017.

In addition to digital marketing, relying on traditional marketing such as word of mouth and billboard ads can help spread the word about your outpatient clinic. However, this can be expensive depending on the mediums you choose. For example, billboard ads typically cost between $1,000 and $14,000 a month. You need to come up with unique campaigns and collateral to reach as many potential patients as possible.

Through advertising and marketing, you can ensure your outpatient clinic is seen by potential patients and make sure your practices thrive in an ever-competitive healthcare marketplace.

Launching an outpatient clinic is a costly yet rewarding endeavour. While it may cost up to $600,000 in the initial setup, the ongoing expenses such as salary, rental, and technology should not be overlooked. The most important thing to consider when estimating the cost of a healthcare business is how you will manage and pay for it. Seek advice from qualified professionals such as business advisors, financial advisors, and investment brokers to create a sound plan for your business.

Take the time to plan and research, and you can build a successful clinic with minimal risk. With the right strategies and financial support, you can be open and operating in a relatively short amount of time.

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Allied Services Moscow Rehab Center

• Category: Outpatient Physical Rehabilitation Center
• Location Type: Hospital

About This Location

Our team of rehab experts provides comprehensive physical, occupational, and speech therapy services. Outpatient therapy is a highly effective way to help you recover from injuries or live well with a chronic illness.

We treat a wide range of conditions including treatment for:

• Back, neck, hand, and other injuries
• Balance & vestibular
• Brain injury
• Cancer rehab
• Gait disorders
• Guillain-Barre syndrome
• Joint replacement
• Multiple Sclerosis
• Orthopedic conditions
• Parkinson’s disease
• Spinal cord injury
• Sports injuries

Typically, your outpatient therapy program will begin with an assessment of your needs. You will then receive an individualized treatment plan with a schedule of regular appointments with the rehab professional who best fits your needs and goals.

Therapy services are covered by most insurance plans. Receiving physical therapy at one of our conveniently located Rehab Centers is simple. With Direct Access, you don't need a referral. You can start without the expense and inconvenience of another physician’s appointment and referral.

• Neurological Disorders (Inpatient)
• Amputation Recovery (Outpatient)
• Arthritis Treatment
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• Back & Neck
• Balance & Vestibular Rehab
• Brain Injury (Outpatient)
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• Guillain-Barre Syndrome (Outpatient)
• Hands & Upper Extremity
• Injury Rehab
• Joint Replacement Rehab (Outpatient)
• Neurological Disorders (Outpatient)
• Occupational Therapy
• Orthopedics (Outpatient)
• Parkinson's Disease (Outpatient)
• Pelvic Rehabilitation
• Physical Therapy
• Pulmonary Disease
• Speech Therapy
• Spinal Cord Injury (Outpatient)
• Sports Medicine
• Stroke Recovery (Outpatient)
• TMJ Disorders
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