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Business plan template for starting a medical clinic

Do you want to start a health centre from scratch? Or do you feel like you need a business plan template for a health clinic? If Yes, then we advise you to read this article.

In fact, there are many opportunities to generate benefits when you open a medical centre. So if you are in the medical field and looking to start such a business, then you may want to follow the steps presented in this business plan template.

1. Market research is essential

Even if you have basic knowledge about setting up a medical aesthetic & laser clinic, it would still be essential that you do a market research. What can you ask for in this survey? Basically all vital information required to establish a healthcare centre.

For instance, how much does it cost to start a health clinic, the registration process, licensing , how many employees to start with. Doing a good market research translates into making sure all these problems are solved so that you start determining the type of clinic you want to establish.

2. Determining the type of medical clinic

You have to determine at the outset what type of clinic you want to manage. Would it be a general clinic or rather specialized in a specific field (paediatricians, orthopaedics, surgeons, dentists, among others)? This step is vital to the process because once you’ve determined the specialty area, you can then focus your attention on getting the adequate training.

3. Getting Trained

The training required is not solely related to the medical field. You will also need to get business training. This is important, as it allows you to gain basic knowledge about running a business, accounting, etc..

You must also be a qualified doctor to run a clinic. You may consider enrolling in a medical course if you are truly committed to starting a health clinic. If you do not have a basic medical background or do not have time to start medical school, you may want to consider the help of a qualified physician, who can map out the essential tasks for you, thus allowing you to focus your energy on the business aspect.

4. Establishing a Business Plan

Establishing a business plan is one of the most crucial steps you need to work on. A business plan is very vital to the process of opening a health clinic as it contains all the information about how you want your business to be run.

If you do feel that you’re not cut for this task, then you may consider getting a template on the Internet. If not, then you will need a professional business plan writer. Most often, these people are consultants who can help you, by providing managerial solutions for your business.

5. Obtaining a license

Once the registration is completed, the next focal point will be to work on obtaining a license. Such task requires among many other things: getting a worthy facility for your clinic, one that will be inspected by health officials to make sure that your plan is viable.

6. Finding Partners

This could be very important, especially if you do not have a professional medical training. On the other hand, even if you are in the medical sector, you can think about finding partners for funding and ensuring diversity of specialties among other things.

7. Acquiring a facility

An easy way to acquire a facility is to rent a property. If, on the other hand, you have the funds to buy a property, then that would immensely help you in the future. If you are choosing to rent, make sure to inform your real estate agent what you need the facilityfor and how you want it to look like.

Always keep in mind that you will need patient services rooms, administrative offices, surgery rooms, etc...

8. Hiring Employees

There is no room for trial and error. Being serious about establishing a health centre requires employing experienced workers. This is crucial to the flourishing of your business, as you need people with practical experience to energize your project.

While conducting interviews, ensure that the interviewing jury is made of members of your boardof directors, as their advice and selection criteria can really come in handy.

If you are looking for medical aesthetics and laser clinic, Ensoul Clinic is the best aesthetic clinic in Singapore.

Reference:

Ensoulclinic.com - Singapore (Medical Aesthetic & Laser Clinic)

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Guide to Opening a multidisciplinary medical clinic

For more than twenty years, the number of Medical clinics in Singapore has been on the rise.

Multidisciplinary clinics with more than 10 employees are slightly more numerous each year. In short, the sector is evolving and those wishing to set up their own medical practice must, as with any entrepreneurial approach, go through the 4 steps that we decipher below.

1. Conducting medical practice market research

As with the opening of any company, market research is an indispensable step towards the realization of your project. The objective here is to ensure that, before setting up your multidisciplinary clinic and incurring costs, there is sufficient demand on the proposed location.

As a first step, it is essential to take an interest in the demographic characteristics of the population living near the proposed location for your medical clinic.

A few questions should guide your study, for example:

- How many potential patients are available in the area?

- Is the population stable, increasing or decreasing?

- How does the age pyramid look?

- Is the population aging?

- What is the average income, the unemployment rate ?

Once this step is completed, you need to survey the medical environment of the area by identifying all the competing healthcare structures (hospitals, medical centres, etc.). It goes without saying that it is not advisable to set up a clinic in an over-medicated environment. It is therefore a matter of examining the environmentand analysing the available opportunities.

2. Legal status to adopt for a multidisciplinary clinic

The second step in setting up your medical centre is to choose a legal status adapted to your project. This step is primordial to setting up your clinic as the legal status in no way exempts the health professional from the responsibilities (legal or other) specific to his or her profession.

Micro-enterprises and start-ups are a very adequate legal form when setting up a medical centre. Each of these two options has its advantages and disadvantages.

The choice is personal and depends on your project, including the number of doctors attached to the practice and their specializations, as well as your development prospects.

3. Designing a business plan

The next step in setting up a medical practice is to carry out your business plan. The business plan of a medical centre carries out several objectives:

- Allows you to assess the project’s funding need and potential for profitability;

- Serves as a reference document, allowing you to present your project to your funding partners during the funding search phase;

- Allows you to get an overview of your project, which will then be used as a roadmap for the first months of activity.

In a simplified way, the business plan of a medical clinic consists of two parts: a written part used to present the project and convince of its assets, and a financial plan to evaluate the financial viability of the latter.

The business plan is an essential tool to model your project, clarify it or even obtain financing. Thus, its realization should not be taken lightly. If you do find such task burdensome, or if you want to save time, a good solution is to use an online business plan software. Using specialized software has several major advantages:

- You will be guided step by step in writing instructions and examples for each part of the plan;

- You can easily carry out your financial forecast, letting the software take care of the calculations and the accounting aspects;

- You will have access to already written business plan templates;

- Eventually, You will get a professional document, formatted, and ready to be sent to your bank.

4. Securing Funds

The final step in setting up a multidisciplinary medical clinic: acquiring the funds needed to set up the project. The amount you need to raise in order to create your structure will  heavily depend on your project:

- Setting up a medical clinic from scratch (the least expensive solution), or buying from an already established structure (more expensive but also a less risky solution since you won’t have to acquire your patients from scratch)

- Cost of investment in medical equipment. Of course, a general practitioner will face minimal expenses compared to a medical centre made up of many doctors.

- Number of rooms to be fitted and size of the rooms, etc…

Regarding the funding itself, in addition to the essential personal contribution (that is, the money being contributed by you and your partners), several options are at your disposal:

- Leasing: for medical equipment and vehicles necessary to emergency patient transportation ;

- Bank credit: Most banks offer financing plans specifically dedicated to healthcare professionals.

It is also possible to receive help from health insurance.

If you are looking for a medical aesthetic or laser clinic in Singapore, then visit Ensoul laser clinic

Ensoul laser clinic is the best place for medical aesthetic & laser treatment in Singapore.

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Practical Guide: Steps to Starting a medical clinic

Opening your own medical clinic is a great journey towards liberal practice. Such journey requires careful preparation. In addition to steps required to create a «conventional» business, you must also comply with a number of regulations specific to the medical practice. Here’s a guide that would prove helpful in setting up your practice!

Conducting market research

As is the case with any business, you need to make sure your project is viable. Most importantly, try to determine:

- Whether there are sufficient potential patients in the region where you wish to settle;

- The unemployment rate and average household income in the region;

- The number of medical clinics already established in the area;

- Demographic trends in the region.

- Is the population growing or decreasing?

- Is it mainly made up of workers or elderly people?

Where to find this type of information? You will find many reliable economic and demographic indicators in the data published by your country’s institute of statistics.

Choosing the legal structure

SAS (Société par Actions Simplifiée, French for Simplified Joint Stock Company), sole proprietorship, LLC (Limited Liability Company), LLEC (Limited Liberal Exercise Company) ?There are many legal forms you can adopt in order to open a medical office. They all have their advantages and disadvantages: some are suitable for an individual installation, others are rather intended for the opening of a group practice. Learn about each of them carefully before making your choice.

Finding the perfect location for your medical clinic

Another essential step towards opening your medical clinic: finding a place that meets the establishment and security rules. It is therefore required that your clinic includes at least one consultation room, a waiting room and toilets. In addition, your consulting room must be equipped with a washbasin in order to disinfect your hands after every session.

When it comes to opening a group office, there are specific requirements for certain specialties (e.g.: Ophthalmology, gynaecology). Such specific requirements must be taken into account. Ideally, your space should also be accessible to people with disabilities.

Of course, you can also take over an existing medical office. Such manoeuvre may grant you the opportunity to acquire patients from the previous doctor. A patient transfer agreement containing various mandatory clauses, must then be signed between you, the patient and the moving doctor. Do not hesitate to seek the assistance of a lawyer if necessary.

Getting the required funds

As soon as you are capable of accurately assessing the required cost for establishing your clinic (e.g. purchase price of the premises, cost necessary for the acquisition of medical equipment and equipment for the waiting room, possible work to be planned). it is hence, recommended to write down your business plan. This document can help you acquire a bank loan if your personal contribution is insufficient to cover all costs.

In practice, the business plan consists of two main parts: the financial plan and a written part, mainly used to convince your interlocutors of the viability of your project. A simple way to design a business plan would be to use one of the many templates available on the Web or specialized software.

The main formalities required to open your medical office

The opening of a medical office also requires a number of formalities. The main ones are:

- Enrolling in the Order of Physicians specific to your country ;

- Registering your liberal activity with Health Insurance. One of their advisors will help you with certain important steps ;

- Register for professional liability insurance ;

- Open a bank account and phone line directly linked to your clinic.

Ensoul Medical Clinic is the best medical aesthetic & laser clinic in Singapore.

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