Medical Practice Business Plan Template [Updated 2024]

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I. Executive Summary

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

Business Overview

[Company Name] is a new private medical practice located in [location]. 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.

Services Provided

[Company Name] 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, measles, mumps, polio, etc.
  • Annual checkups
  • Pediatrics: checkups, developmental screening, immunizations, etc.
  • Health screenings: blood pressure, cholesterol, depression, diabetes, etc.
  • General health counseling

[Company Name] will work with local and national insurance companies to ensure that every family can afford our services. After billing insurance, [Company Name] will provide payment plan options so that no individual or family is overwhelmed by their medical bills.

Customer Focus

[Company Name] will primarily serve the community within a 20-mile radius of our location. This community is primarily middle-class and contains a large number of families. The demographics of these customers are as follows:

  • 82,401 residents
  • 52% married
  • 39% with children under 18
  • Average income of $57,000
  • Median age: 37 years

Management Team

[Company Name] is owned and operated by [Founder’s Name], who has been working as a doctor at local hospitals for [X] 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 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.).

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

  • Our location is in a high-volume area with easy access from multiple residential and commercial areas.
  • [Founder’s Name] has a good reputation in the local medical community, which will attract patients and insurance companies.
  • The management team has a track record of success in the medical community.
  • [Company Name] will offer preventative and primary care services for an affordable price.
  • [Company Name] will contain knowledgeable and friendly staff that will keep patients coming back.

Financial Highlights

[Company Name] is currently seeking $400,000 to launch. Specifically, these funds will be used as follows:

  • Clinic design/build: $100,000
  • Medical supplies and equipment: $130,000
  • Working capital: $170,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

Financial SummaryFY 1FY 2FY 3FY 4FY 5
Revenue$560,401 $782,152 $1,069,331 $1,379,434 $1,699,644
Total Expenses$328,233 $391,429 $552,149 $696,577 $776,687
EBITDA$232,168 $390,722 $517,182 $682,858 $922,956
Depreciation$7,000 $7,000 $7,000 $7,000 $7,000
EBIT$225,168 $383,722 $510,182 $675,858 $915,956
Interest$6,016 $5,264 $4,512 $3,760 $3,008
Pre Tax Income$219,152 $378,458 $505,670 $672,098 $912,948
Income Tax Expense$76,703 $132,460 $176,985 $235,234 $319,532
Net Income$142,449 $245,998 $328,686 $436,864 $593,416
Net Profit Margin25%31%31%32%35%
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