Are you about starting a diabetes clinic? If YES, here’s a complete sample diabetes clinic business plan template & feasibility report you can use for FREE to get started.
Okay, so we have considered all the requirements for starting a diabetes clinic. We have analyzed and drafted a sample diabetes clinic marketing plan backed up by actionable guerrilla marketing ideas for diabetes clinics. So let’s proceed to the business planning section.
One of the specialty hospital related businesses that a medical doctor or lab scientist can comfortably launch in the united states of America is a diabetes clinic.
It is important to note that before you launch any healthcare related business in the United States, you need to first look at the existing laws in the country or the state you reside. This is because healthcare related businesses are usually highly regulated so as to guard against the infiltration of quacks or substandard medical clinics, hospitals or health facilities.
If you have an interest in starting your own diabetes clinic, then you would need to pay a visit to the health and medical regulatory body in your country to get all the information that is required before you can legally start your clinic.
Again, you should carry out thorough feasibility studies and market survey. This will enable you locate the business in a place with the right demographic composition and then hit the ground running. Business plan is yet another very important business document that you should not take for granted when launching your diabetes clinic business.
Below is a sample diabetes clinic business plan template that can help you to successfully write your own with little or no difficulty.
Diabetes clinic fall under the Specialty Hospitals Industry and this industry includes healthcare facilities that provide diagnostic and medical treatment to inpatients with diabetes. Specialty hospitals include hospitals that provide long-term care for the chronically ill and those that offer rehabilitation, restorative and adjunctive services to physically challenged or disabled people.
The American Diabetes Association found out that 25.8 million children and adults were diabetic. Another 79 million individuals were considered pre-diabetic.
These numbers show the prevalence of what often is a preventable disease and makes a case for the need for excellent diabetes clinics. These clinics provide testing for diabetes and are a source for diabetics to obtain medications and supplies.
The Specialty Hospitals industry that diabetes clinic is a part of is indeed a very massive industry in the U.S. Statistics has it that The Specialty Hospitals industry in the United States of America is worth $52 billion, with an estimated growth rate of 3.6 percent.
There are about 1,003 registered and licensed specialty hospitals (diabetes clinic inclusive) in the United States and they are responsible for employing about 304,779 people. No single specialty clinic can boast of having the lion share of the available market share in this industry.
If you are considering starting your own diabetes clinic in the United States, then you should try and work around the industry barriers.
The truth is that the barriers to entry in the Specialty Hospitals industry are high due to the significant regulatory requirements and the experience and strength of incumbents. For example, medical licensure creates a barrier to entry in the healthcare sector.
It is absolutely compulsory for any investor who is looking towards starting a diabetes clinic to meet extensive federal, state and local laws and regulations. These regulations relate to the adequacy of medical care, equipment, personnel, operating policies and procedures.
Regulations also involve maintaining adequate records, preventing fires, setting rates and complying with building codes and environmental protection laws. These regulations make it difficult and costly for aspiring entrepreneurs to enter the industry.
Aside from the fact that the United States of America is home to loads of people with diabetes, some of the factors that encourage entrepreneurs to start their own diabetes clinic could be that the business can easily get support from the government and the business is indeed a profitable venture despite the legislature governing the industry.
Lastly, this line of business is not going into extinction anytime soon; and no matter the location you choose to locate your diabetes clinic, with the right facility and publicity, you are not going to lack patients with diabetes.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is a licensed and government approved diabetes clinic that will be located in the heart of Carson City – Nevada, United States of America. We have been able to acquire a standard facility that is highly suitable for the kind of business we want to operate.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is in the specialty hospital industry to provide diagnostic and medical treatment to inpatients and outpatients with diabetes or diabetes related ailments. We will also ensure that we comply with the laws and health regulations in Nevada and the United States of America. Our employees are well trained and qualified to handle the wide range of healthcare services.
Denis Copperfield® Diabetes Memorial Clinic, Inc. will operate a 24 hours 7 days a week service; our clinic facility will be opened round the clock to attend to patients. We have a standard medical call center that is manned by trained health workers. Our employees are going to be well trained to operate within the framework of our organization’s corporate culture.
Denis Copperfield® Diabetes Memorial Clinic, Inc. will ensure that all our patients are given first class treatment whenever they visit our facility. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large their numbers grow to.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is owned and managed by Dr. Denis Copperfield Jnr and his immediate family members.
Dr. Denis Copperfield is going to be the Medical Director (Chief Executive Officer) of the diabetes clinic. He is a qualified and well trained doctor with over 25 years’ experience, and also a member of the American Diabetes Association (ADA) and the Juvenile Diabetes Research Foundation (JDRF).
Denis Copperfield® Diabetes Memorial Clinic, Inc. will ensure that our patients are well taken care of and our services will be carried out by highly trained professionals. These are the healthcare services that Denis Copperfield® Diabetes Memorial Clinic, Inc. will be offering;
Our Business Structure
From the outset, we have decided to recruit only qualified professionals to man various job positions in our organization. We are quite aware of the rules and regulations governing the specialist hospitals which is why we decided to recruit only qualified employees.
When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders. As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more.
These are the positions that will be available at Denis Copperfield® Diabetes Memorial Clinic, Inc.;
Chief Medical Director / Chief Executive Officer:
Doctor
Phlebotomist
Pharmacist:
Nurses/Nurse’s Aides
Sales and Marketing Manager
Accountant/Cashier:
Client Service Executive
Cleaners:
Denis Copperfield® Diabetes Memorial Clinic, Inc. is set to become one of the leading diabetes clinics in the whole of Nevada which is why we will take our time to conduct due diligence for our business. We want our diabetes clinic to be the number one choice in Carson City and other cities in Nevada. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation.
Even though our Chief Medical Director (owner) has a robust experience in the specialist hospital industry, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis.
This is the summary of the SWOT analysis that was conducted for Denis Copperfield® Diabetes Memorial Clinic, Inc.;
Our strength lies in the fact that we have a team of qualified healthcare professionals manning various job positions in our diabetes clinic. As a matter of fact, they are some of the best hands in the whole of Carson City – Nevada. Our location, the Business model we will be operating on, multiple payment options, well equipped medical call center, ambulance services and our excellent customer service culture will definitely be part of what will make us stand tall amongst our competitors.
Perhaps, our perceived weakness lies in the point that we are just starting out and we may not have the required finance to attract topflight doctors and also the finance needed to acquire some of the latest medical and lab equipment et al.
The opportunities that are available to diabetes clinics are unlimited considering the fact that there are few diabetes clinics in the Carson City – Nevada and we are going to position our diabetes clinic to make the best out of the opportunities that will be available to us in Carson City – Nevada.
One of the major threats we are likely going to face is the presence of well – established diabetes clinics and of course other players in the Hospital and Healthcare industry in our target market location that also manage diabetes and related ailments. Some other threats that we are likely going to face when we start our diabetes clinic are mature markets, stiff competition, volatile costs, and rising medical care prices.
With the aid of technology, it is becoming easier to treat, manage and cure some diabetic related ailments that before now were not easy to handle.
The specialist hospital industry has recently begun consolidating, largely due to the pressures of healthcare reform. The truth is that the demand for specialist healthcare services has steadily grown over the last five years, as healthcare reform legislation broadened insurance coverage.
One thing about this industry is that labor costs is on the high side. However, diabetes clinics have also faced nurse and physician shortages and have struggled to recruit qualified personnel. Industry profitability has generally risen over the past five years due to increases in service prices. No doubt the specialist hospital industry cum diabetes clinic line of business will continue to grow and become more profitable because the aging baby-boomer generation in Unites States are expected to increasingly demand diabetics related healthcare services.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is in business to service a wide range of patients in and around Carson City. We will ensure that we target both self – pay customers (who do not have health insurance cover), and those who have health insurance cover.
The fact that we are going to open our doors to customers does not in any way stop us from abiding by the rules and regulations governing the specialist hospital industry in the United States. Our customers can be categorized into the following;
Our competitive advantage
Aside from the competition that exists amongst various diabetes clinics, they also compete against other healthcare service providers such as general hospitals, teaching hospitals, health centers and standard hospitals et al that also provide diabetes care.
To be highly competitive in the diabetes clinic line of business means that you should be able to deliver quality diabetes management, patient service and you should be able to meet the expectations of your patients at all time; they should experience improvement in their health when they visit your diabetes clinic.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is coming into the market well prepared to compete in the industry. Our hospital facility is well positioned (centrally positioned) and visible, we have enough parking space with good security. Our staff are well groomed in all aspects of healthcare delivery and all our employees are trained to provide customized customer service to all our clients (patients).
We are going to be one of the few diabetes clinics in the whole of Carson City – Nevada that will run a standard medical call center for 24 hours a day and 7 days a week. We have enough trained health workers that are ready to run a shift system.
Lastly, all our employees will be well taken care of, and their welfare package will be among the best within our category in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.
Denis Copperfield® Diabetes Memorial Clinic, Inc. will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Denis Copperfield® Diabetes Memorial Clinic, Inc.;
Our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions that are readily available on the field. We have been able to critically examine the diabetes clinic market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
Below is the sales projection for Denis Copperfield® Diabetes Memorial Clinic, Inc. It is based on the location of our diabetes clinic and of course the wide range of our services and target market;
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.
The marketing and sales strategy adopted by Denis Copperfield® Diabetes Memorial Clinic, Inc. will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round diabetes related healthcare services at affordable prices.
All our employees will be well trained and equipped to provide excellent healthcare services. We know that if we are consistent with offering high quality diabetics related care service, we will increase the number of our customers by more than 20 percent for the first year and then more than 45 percent subsequently.
Before choosing a location for our diabetes clinic, we conducted a thorough market survey and feasibility studies in order for us to be able to penetrate the available market in Carson City – Nevada. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.
We hired experts who have good understanding of the specialist hospital industry cum diabetes clinic line of business to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Carson City – Nevada.
In summary, Denis Copperfield® Diabetes Memorial Clinic, Inc. Services will adopt the following sales and marketing approach to win customers over;
Denis Copperfield® Diabetes Memorial Clinic, Inc. is in the industry to become one of the market leaders and also to maximize profits hence we are going to explore all available means to promote our diabetes clinic.
Denis Copperfield® Diabetes Memorial Clinic, Inc. has a long – term plan of opening of diabetes clinics in key cities in and around Nevada which is why we will deliberately build our brand to be well accepted in Carson City – Nevada before venturing out.
Here are the platforms we intend leveraging on to promote and advertise Denis Copperfield® Diabetes Memorial Clinic, Inc.;
Denis Copperfield® Diabetes Memorial Clinic, Inc. will work towards ensuring that all our services are offered at highly competitive prices compares to what is obtainable in the United States of America.
Diabetes clinics and healthcare service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for diabetes clinics to bill their clients based in their discretion.
In some cases however, diabetes clinics and healthcare service providers also adopt the hourly billing cum per visit billing method. For example, it is easier and preferable for diabetes clinics to bill personal diabetes management services by the hour of treatment required as against a fixed price.
The payment policy adopted by Denis Copperfield® Diabetes Memorial Clinic, Inc. is all inclusive because we are aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Denis Copperfield® Diabetes Memorial Clinic, Inc. will make available to her clients;
In view of the above, we have chosen banking platforms that will enable our client make payment for our treatment/services without any stress on their part.
If you are looking towards starting a diabetes clinic, then you should raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.
You would need money to secure a standard diabetes facility, to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them.
The items listed below are the basics that we would need when starting our diabetes clinic in the United States, although costs might vary slightly;
We would need an estimate of $1.2M to successfully set up our diabetes clinic in Carson City – Nevada.
Generating Startup Capital for Denis Copperfield® Diabetes Memorial Clinic, Inc.
Denis Copperfield® Diabetes Memorial Clinic, Inc. is a private business that will be owned and managed by Dr. Denis Copperfield Jnr. He decided to restrict the sourcing of the startup capital for the business to just three major sources.
These are the areas we intend generating our startup capital;
N.B: We have been able to generate about $500,000 (Personal savings $300,000 and soft loan from family members $200,000) and we are at the final stages of obtaining a loan facility of $700,000 from the bank. All the papers and document have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.
One of our major goals of starting Denis Copperfield® Diabetes Memorial Clinic, Inc. is to build a business that will survive off its own cash flow without the injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our diabetics treatment and management related healthcare services a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.
Denis Copperfield® Diabetes Memorial Clinic, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our organizations’ corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
We know that if this is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List/Milestone
