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Healthcare Business Plan Template [2021 Updated]

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V. Competitive Analysis


You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following businesses are located within a 5 mile radius of [Company Name], thus providing either direct or indirect competition for customers:

City Medical
Founded in 2008, City Medical is a membership-based, primary-care practice in the heart of the city. City Medical offers a wide range of primary-care services for patients who subscribe to the practice for an annual fee. Patients enjoy personalized care, including office visits, as well as the diagnosis and treatment of common health problems and primary-, preventative-, and urgent-care services. The patient membership fee covers the services listed below and most care received in-office. However, some additional services such as lab testing and vaccinations are billed separately.

Bay Doctors
Bay Doctors is a primary care practice that provides highly personalized medical care in office or patients’ homes. Bay Doctors includes a team of dedicated healthcare professionals with dual residency in Emergency Medicine and Internal Medicine. The practice offers same day/next day appointments, telemedicine, office visits and home visits. Services offered by Bay Doctors include: Primary Care, Urgent Care, House Calls, Virtual Visits and IV Vitamin Drips.

Community Care
Established in 1949, Community Care is a non-profit regional healthcare provider serving the city and surrounding suburbs. This facility offers the following services:

    • • 24-hour emergency care

 

    • • 8 emergency department exam rooms

 

    • • Dedicated ambulance bay for medical emergencies

 

    • • Critical care support

 

    • • 15 private inpatient beds

 

    • • New, state-of-the-art diagnostic imaging services, including a 64-slice CT, X-ray and ultrasound

 

    • • On-site laboratory with modern analyzers and instrumentation

 

    • A state-of-the-art surgical suite

Competitive Pricing

Competitor pricing is highly variable depending on the service provided and healthcare coverage.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include:

  • Location: [Company Name]’s location is near the center of town. It’s visible from the street with many people walking to and from work on a daily basis; giving them a direct look at our clinic, most of which are part of our target market.
  • Patient oriented service: [Company Name] will have a staff that prioritizes the needs of the patients and educating them on the proper way on how to take care of oneself.
  • Management: [Founder’s Name] has a genuine passion to want to help the community and because of his previous experience, he is fully equipped and over-qualified to open this practice. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name’s] competitors.
  • Relationships: Having lived in the community for 25 years, [Founder’s Name] knows many of the local leaders, newspapers and other influences. Furthermore, he will be able to draw from his ties to the community in order to build up a heavy asset base in a short amount of time.
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