This medical billing business plan template has 34 pages and is a MS Word file type listed under our business plan kit documents.
Sample of our medical billing business plan template:
Confidentiality Agreement The undersigned reader acknowledges that the information provided by [YOUR COMPANY NAME] in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of [YOUR COMPANY NAME]. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader may cause serious harm or damage to [YOUR COMPANY NAME]. Upon request this document is to be immediately returned to [YOUR COMPANY NAME]. ___________________ Signature ___________________ Name (typed or printed) ___________________ Date This is a business plan. It does not imply an offering of securities. 1.0 Executive Summary 1 Chart: Highlights 1 1.1 Objectives 1 1.2 Mission 1 1.3 Keys to Success 1 2.0 Company Summary 2 2.1 Company Ownership 2 2.2 Company History 2 Table: Past Performance 2 Chart: Past Performance 3 3.0 Services 3 4.0 Market Analysis Summary 3 4.1 Market Segmentation 4 Table: Market Analysis 4 Chart: Market Analysis (Pie) 5 4.2 Target Market Segment Strategy 5 4.3 Service Business Analysis 5 4.3.1 Competition and Buying Patterns 6 5.0 Strategy and Implementation Summary 6 5.1 SWOT Analysis 6 5.1.1 Strengths 6 5.1.2 Weaknesses 7 5.1.3 Opportunities 7 5.1.4 Threats 7 5.2 Competitive Edge 7 5.3 Marketing Strategy 8 5.4 Sales Strategy 9 5.4.1 Sales Forecast 9 Table: Sales Forecast 9 Chart: Sales Monthly 10 Chart: Sales by Year 10 5.5 Milestones 11 Table: Milestones 11 Chart: Milestones 11 6.0 Management Summary 11 6.1 Personnel Plan 12 Table: Personnel 12 7.0 Financial Plan 12 7.1 Important Assumptions 12 7.2 Break-even Analysis 13 Table: Break-even Analysis 13 Chart: Break-even Analysis 13 7.3 Projected Profit and Loss 13 Table: Profit and Loss 14 Chart: Profit Monthly 15 Chart: Profit Yearly 15 Chart: Gross Margin Monthly 16 Chart: Gross Margin Yearly 16 7.4 Projected Cash Flow 16 Table: Cash Flow 17 Chart: Cash 18 7.5 Projected Balance Sheet 18 Table: Balance Sheet 18 7.6 Business Ratios 19 Table: Ratios 19 7.7 Long-term Plan 20 Table: Forecast 1 Table: Personnel 2 Table: Profit and Loss 3 Table: Cash Flow 4 Table: Cash Flow 5 Table: Balance Sheet 6 Table: Balance Sheet 7 Executive Summary [YOUR COMPANY NAME] [YOUR NAME] [YOUR COMPLETE ADDRESS] Phone: [YOUR PHONE NUMBER] Email: [YOUR EMAIL@YOURCOMPANY.COM] Introduction: [YOUR COMPANY NAME] is a Premier Practice Management, Accounts Receivable Management Company. [YOUR COMPANY NAME] teaches medical staff the fine-tuning needed so Reimbursement Levels can increase 15 - 30%. [YOUR COMPANY NAME] is looking to expand their market and income potential over the next five years. Part of this success will be the securing of grant funds in the amount of $675,000. This increase in capital will allow [YOUR COMPANY NAME] to expand their work force and marketing starting in year 2011. Location: The office space occupied by [YOUR COMPANY NAME] is located in [YOUR CITY], [YOUR PROVINCE/STATE]. The Company: [YOUR COMPANY NAME] is a medical billing company that specializes in medical billing for ambulatory surgical centers, particularly in teaching healthcare providers to bill using in- and out-of-network benefits, and how to get paid on claims. [YOUR COMPANY NAME] uses a system that tracks when the records are sent and received by the insurance company. Then they follow up with those insurance companies until the claim is paid. If [YOUR COMPANY NAME] is not satisfied with the payment, then they will appeal. [YOUR COMPANY NAME] also teaches what is needed up front to streamline the billing cycle and minimize the time a claim spends in your A/R. Our Services: Reimbursement Maximization A/R Management Third Party Negotiation Under-payments Denials/Medical Stalls/Appeals Staff Training & Office Set-up The Market: The Billing and Claims' target market consists of any medical practice or health care delivery. This includes family practice, internal medicine, surgeons, psychologists, chiropractors, physical therapists, podiatrists, specialists, ambulance services, medical laboratories, etc. New practices are particularly appealing to [YOUR COMPANY NAME]. By equipping the physicians with a well trained staff in claims handling and putting an efficient billing program into place, [YOUR COMPANY NAME] can reduce the stress of start up and ensure greater likelihood of a practice's success due in part to increased cash flow. Financial Considerations: The current financial plan for [YOUR COMPANY NAME] is to obtain grant funding in the amount of $675,000. The grant will be used to expand the market share, purchase equipment, Hire employees, and institute a training program for all employees. [YOUR COMPANY NAME] will also use the grant funds to begin an intense marketing and advertising campaign starting in 2011. A significant portion of the grant funds will be used to hire 15 new employees at $15 an hour. This increase in employees will allow [YOUR COMPANY NAME] to give more personal attention to current clients as well as have the capacity to add new clients over the next 5 years. Without the grant funding it will make it almost impossible to add the additional employees that are needed to increase the market share for [YOUR COMPANY NAME]. The major focus for grant funding is as follows: [YOUR COMPANY NAME] is 100% women owned, [YOUR NAME]. Hire 15 new employees at $15 an hour Additional training for all employees Expand into Electronic Medical Records, which will be required in 2014 by the United States HealthCare Act. Chart: Highlights 1.1 Objectives The objectives for [YOUR COMPANY NAME] over the next five years are: Continue to serve current clients Increase [YOUR COMPANY NAME]'s client base by 10 Increase professional clients by 20 Continue to provide excellent training through consulting 1.2 Mission To assist healthcare providers in receiving excellent reimbursements and obtain maximum Reimbursement for your [YOUR COMPANY NAME] on your Services rendered. 1.3 Keys to Success The values and keys to the business are: 1. Honesty and integrity when working with a client. 2. [YOUR COMPANY NAME] honors the uniqueness of each client seeking our services. 3. [YOUR COMPANY NAME] values high quality customer service 4. [YOUR COMPANY NAME] actively promotes growth which includes business profitability and staff professional development 2.0 Company Summary [YOUR COMPANY NAME] is a Premier Practice Management, Accounts Receivable Management Company. [YOUR COMPANY NAME] teaches the fine tuning needed so Reimbursement Levels increase 15 - 30%. They teach and implement more controls over the accounts and seek maximum reimbursement. [YOUR COMPANY NAME] currently serves Ambulatory Surgery Centers and Surgeons. ASC has been based in Arizona since 2001. 2.1 Company Ownership [YOUR NAME] is the 100% sole owner of [YOUR COMPANY NAME]. 2.2 Company History [YOUR COMPANY NAME] was formed in 2001 as a single member LLC. [YOUR NAME] has been the sole owner and managing member of this company. [YOUR COMPANY NAME] currently operates from [YOUR CITY], Arizona since 2001. Table: Past Performance Past Performance 2008 2009 2010 Sales $963,883 $916,019 $1,726,558 Gross Margin $963,883 $916,019 $1,726,558 Gross Margin % 100.00% 100.00% 100.00% Operating Expenses $580,993 $551,991 $1,035,934
