A business plan is a roadmap to the success of your practice. Competition and competition matrix : List competitors and analyze what makes them competitive. You can also include versions of your profit and loss statements and other financials that extend further into the future.
If you are applying for a loan to start your new practice, banks will require a formal business plan. However, if you have hundreds of items, condense your product list categorically.
What kind of information will you include on your website? What will be your annual revenue? When you are ready to begin writing, remember to keep it short and to the point. We have been able to critically examine the health care market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
Here, you are looking at the difference between targeting everyone: TAM all people who need medical care—so all humans in your areaversus your ideal clients: SAM maybe this is those with certain insurance or ability to self-payversus the number of new patients you think you can realistically reach: SOM, especially within your first few years.
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. With only five other family practitioners in town, we project a gradually increasing patient load over the first several years, as we find out place in the community.
The second group of clients is the ailing or physically impaired. What are your personal and professional reasons for taking this step? Timeline: Map out your timeline from initial research to opening your doors.