About Jonah Engler Writing a Business Plan Writing a business plan is an effective method of pitching new potential start up companies in any industry. Ensuring you have a business plan in place is essential when attempting to get funding or when taking out loans, regardless of the investment amount you are seeking.
Interview several healthcare consultants. For example, your current patient-base makeup, your local demographic, patient surveys, your bedside manner and the list goes on.
Recently, CMT attended a seminar in Florida that was designed to help physicians learn more about this type of medical business model.
Set realistic expectations for your time. When you sit down to start writing your plan, you must remember that this is a business model based on service and fulfillment. If you are clear with your patients about what it is that you are going to deliver to them in the form of medical services, it will be much easier to introduce the idea to your patients at the right time, with the right message.
Otherwise, every other visit she was treated by the nurse practitioner. Those that use the excuse that they cannot write a business plan are the same people who have never thought out all of the aspects of starting a concierge practice. In other cases they may have thought out the service or business aspects, but have not taken the time to understand what holes exist in them.
Questions your private-pay business plan should answer: What alliances or relationships can you leverage locally with other businesses to help yours? What will the patient pay you to solve this problem?
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What problem or problems exist that your practice is trying to solve? How will the skills of your staff, assembled team, their knowledge of the industry, and track record of execution make this happen?
How deep and compelling is this problem in your practice or local area?
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What solutions does your practice have to resolve the problem s? How much will it cost to solve these problems now? How will solving these problem s make your practice financials look in one, three and five years? How much cash do you need to find a path to profitability?
Then define it and make it unique to you, your area and your patients. This becomes another stumbling block doctors will run into. Doctors call CMT and want to learn more about the various nuances of this industry and quickly learn that there are several attractive business models that could be implemented and be suitable to a specific demographic and geography.
But you must write a business plan with a practice model in mind that is suitable for your local area and demographic makeup. The business plan you write for your future practice must make sense to those whom you will serve. Be careful, there are a lot of companies out there that our readers have informed us about that know nothing about this industry.
What plans, if any, will you participate in? However, direct care is only one branch in the family tree of concierge medicine.
There are no insurance co-pays, deductibles or co-insurance fees. Both health care delivery business models are providing affordable, cost-effective health care to thousands of patients across the U. After they have read it, have them give you a verbal explanation as to how they think your new practice model will work, based on your plan.
If they do not understand the plan or cannot explain the practice model concept from what you have provided, there is a very good chance that a patient in the coming months ahead will not understand the practice concept s either.
Still have questions about writing a private-pay, direct care or concierge medical practice business plan? If you still have questions, please feel free to submit a question in the comment section below or to editor conciergemedicinetoday. We promise to get back to you as soon as we possibly can about your business plan or provide additional resources to help you choose the right path for your future medical practice.Want to start a grant writing business?
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Starting a business generally requires putting together a formal body of information so that you can be prepared for the hurdles to come. Writing a business plan forces you to consider many different issues, and this can help focus your thinking.
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