Financial Proforma with cash flow analysis for the start up of a Physician Owned Laboratory
Budget: $250 – $750 USD
Context:
We are a consulting group that specializes in assisting physicians to open their own laboratory inside of their current practices office facility. We call these POL's which stands for Physician Owned Labs. We offer our setup/consulting services at cost and make our money selling test supplies to each POL that we setup once they are setup. Setup on average takes 100 days. We work with mutiple types of doctors, each type uses different test types and some use multiple test types. Today 99% of the doctor types we work with write ab orders evveryday for thier patients and send them to outside (reference) labs to run the tests. Therefore the reference labs make the money and typically take 3-5 days to return results. The lag time is not optimal for the patients heatcare needs considering they most likely went to the doctor with an ailment and are in need of accurate diagnosis and prescription or treatment.
Our program enables each doctor to both capture a new revenue stream along with offering 1 hour molecular test turn times and optimal healthcare treatment for their patients. It also reduces mis-prescribing pharmaceuticals therefore reduces the opportunity for adverse reactions and overall costs on our healthcare system. Our program is not suited for every practice and this too is marketed and should be designed to show them if it makes financial sense or not.
Goal:
The goal of this workbook is to be able to quickly setup or simulate each physicians unique practice by using a dashboard to set accurate test types, total tests per type, per day, per month, startup capital outlay (cash flow), per month, for 24 months, and ROI every 6 months.
Usage:
We intend on using this as a sales tool for every new prospect we attract through our sales and marketing efforts. This workbook will be setup internally by our staff based on information provided by each prospect. The goal is to designing this so its quick and easy to setup (dashboard inputs?), as a detailed deliverable to each prospect. What we send to the prospect should clearly show them the tests types based on our inputs, how much net revenue they can add to their practice year 1 & year 2, how much money to get started, and how the cash outlay (cash flow).
Other notes:
We don't care how the workbook is designed as long as it achieves our objectives and is presentable for our prospects. We will setup and save a copy for each prospect. The cash flow statement and proforma tabs are only examples that one of our colleagues sent us. We are not tied to anything you see here and can provide you with any further information that you require to create a comprehensive tool. FYI - we do like graphs and pie charts when applicable. Also, our site is www.physicianlabspecislists.com you can see our branding and color scheme there.
We are a consulting group that specializes in assisting physicians to open their own laboratory inside of their current practices office facility. We call these POL's which stands for Physician Owned Labs. We offer our setup/consulting services at cost and make our money selling test supplies to each POL that we setup once they are setup. Setup on average takes 100 days. We work with mutiple types of doctors, each type uses different test types and some use multiple test types. Today 99% of the doctor types we work with write ab orders evveryday for thier patients and send them to outside (reference) labs to run the tests. Therefore the reference labs make the money and typically take 3-5 days to return results. The lag time is not optimal for the patients heatcare needs considering they most likely went to the doctor with an ailment and are in need of accurate diagnosis and prescription or treatment.
Our program enables each doctor to both capture a new revenue stream along with offering 1 hour molecular test turn times and optimal healthcare treatment for their patients. It also reduces mis-prescribing pharmaceuticals therefore reduces the opportunity for adverse reactions and overall costs on our healthcare system. Our program is not suited for every practice and this too is marketed and should be designed to show them if it makes financial sense or not.
Goal:
The goal of this workbook is to be able to quickly setup or simulate each physicians unique practice by using a dashboard to set accurate test types, total tests per type, per day, per month, startup capital outlay (cash flow), per month, for 24 months, and ROI every 6 months.
Usage:
We intend on using this as a sales tool for every new prospect we attract through our sales and marketing efforts. This workbook will be setup internally by our staff based on information provided by each prospect. The goal is to designing this so its quick and easy to setup (dashboard inputs?), as a detailed deliverable to each prospect. What we send to the prospect should clearly show them the tests types based on our inputs, how much net revenue they can add to their practice year 1 & year 2, how much money to get started, and how the cash outlay (cash flow).
Other notes:
We don't care how the workbook is designed as long as it achieves our objectives and is presentable for our prospects. We will setup and save a copy for each prospect. The cash flow statement and proforma tabs are only examples that one of our colleagues sent us. We are not tied to anything you see here and can provide you with any further information that you require to create a comprehensive tool. FYI - we do like graphs and pie charts when applicable. Also, our site is www.physicianlabspecislists.com you can see our branding and color scheme there.