Park Square Family Medicine

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Family Medicine Clinic Business Plan

Appendix

Personnel Plan
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Physician salary 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Receptionist 0% $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500
Medical Assistant 0% $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Health Insurance 0% $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Dental Insurance 0% $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Vision Insurance 0% $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Workman's Comp 0% $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Total People 3 3 3 3 3 3 3 3 3 3 3 3
Total Payroll $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950
Pro Forma Profit and Loss
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales $0 $0 $4,000 $6,000 $9,000 $12,000 $14,000 $16,000 $18,000 $21,000 $24,000 $24,000
Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Gross Margin $0 $0 $4,000 $6,000 $9,000 $12,000 $14,000 $16,000 $18,000 $21,000 $24,000 $24,000
Gross Margin % 0.00% 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Expenses
Payroll $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950
Marketing/Promotion $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Payroll Taxes 15% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Medical Supplies $0 $0 $0 $750 $750 $750 $750 $750 $750 $750 $750 $750
Office Supplies $0 $0 $0 $500 $500 $500 $500 $500 $500 $500 $500 $500
Printing $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Other Professional Services $83 $83 $83 $83 $83 $83 $83 $83 $83 $83 $83 $83
Answering Service $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250 $250
Telephone $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Medical Waste $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
Repairs and Maintenance $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125
Janitorial Service $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125
Dues Books and Subscriptions $83 $83 $83 $83 $83 $83 $83 $83 $83 $83 $83 $83
Medical Billing 15% $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667
Commercial Insurance $292 $292 $292 $292 $292 $292 $292 $292 $292 $292 $292 $292
Total Operating Expenses $10,075 $10,075 $10,075 $11,325 $11,325 $11,325 $11,325 $11,325 $11,325 $11,325 $11,325 $11,325
Profit Before Interest and Taxes ($10,075) ($10,075) ($6,075) ($5,325) ($2,325) $675 $2,675 $4,675 $6,675 $9,675 $12,675 $12,675
EBITDA ($10,075) ($10,075) ($6,075) ($5,325) ($2,325) $675 $2,675 $4,675 $6,675 $9,675 $12,675 $12,675
Interest Expense $1,854 $1,833 $1,813 $1,792 $1,771 $1,750 $1,729 $1,708 $1,688 $1,667 $1,646 $1,625
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($11,929) ($11,908) ($7,888) ($7,117) ($4,096) ($1,075) $946 $2,967 $4,987 $8,008 $11,029 $11,050
Net Profit/Sales 0.00% 0.00% -197.19% -118.61% -45.51% -8.96% 6.76% 18.54% 27.71% 38.13% 45.95% 46.04%
Pro Forma Cash Flow
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Cash Received
Cash from Operations
Cash Sales $0 $0 $400 $600 $900 $1,200 $1,400 $1,600 $1,800 $2,100 $2,400 $2,400
Cash from Receivables $0 $0 $0 $0 $120 $3,660 $5,490 $8,190 $10,860 $12,660 $14,460 $16,290
Subtotal Cash from Operations $0 $0 $400 $600 $1,020 $4,860 $6,890 $9,790 $12,660 $14,760 $16,860 $18,690
Additional Cash Received
Sales Tax, VAT, HST/GST Received 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000 $24,000
Subtotal Cash Received $24,000 $24,000 $24,400 $24,600 $25,020 $28,860 $30,890 $33,790 $36,660 $38,760 $40,860 $42,690
Expenditures Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Expenditures from Operations
Cash Spending $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950 $3,950
Bill Payments $266 $7,978 $7,958 $7,978 $9,166 $9,145 $9,124 $9,103 $9,083 $9,062 $9,041 $9,020
Subtotal Spent on Operations $4,216 $11,928 $11,908 $11,928 $13,116 $13,095 $13,074 $13,053 $13,033 $13,012 $12,991 $12,970
Additional Cash Spent
Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Long-term Liabilities Principal Repayment $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $6,716 $14,428 $14,408 $14,428 $15,616 $15,595 $15,574 $15,553 $15,533 $15,512 $15,491 $15,470
Net Cash Flow $17,284 $9,572 $9,992 $10,172 $9,404 $13,265 $15,316 $18,237 $21,127 $23,248 $25,369 $27,220
Cash Balance $27,284 $36,856 $46,848 $57,019 $66,423 $79,688 $95,004 $113,241 $134,368 $157,616 $182,985 $210,205
Pro Forma Balance Sheet
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Assets Starting Balances
Current Assets
Cash $10,000 $27,284 $36,856 $46,848 $57,019 $66,423 $79,688 $95,004 $113,241 $134,368 $157,616 $182,985 $210,205
Accounts Receivable $0 $0 $0 $3,600 $9,000 $16,980 $24,120 $31,230 $37,440 $42,780 $49,020 $56,160 $61,470
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $10,000 $27,284 $36,856 $50,448 $66,019 $83,403 $103,808 $126,234 $150,681 $177,148 $206,636 $239,145 $271,675
Long-term Assets
Long-term Assets $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000
Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Long-term Assets $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000 $225,000
Total Assets $235,000 $252,284 $261,856 $275,448 $291,019 $308,403 $328,808 $351,234 $375,681 $402,148 $431,636 $464,145 $496,675
Liabilities and Capital Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Current Liabilities
Accounts Payable $0 $7,713 $7,693 $7,673 $8,861 $8,841 $8,821 $8,801 $8,781 $8,760 $8,740 $8,720 $8,700
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current Liabilities $0 $7,713 $7,693 $7,673 $8,861 $8,841 $8,821 $8,801 $8,781 $8,760 $8,740 $8,720 $8,700
Long-term Liabilities $225,000 $222,500 $220,000 $217,500 $215,000 $212,500 $210,000 $207,500 $205,000 $202,500 $200,000 $197,500 $195,000
Total Liabilities $225,000 $230,213 $227,693 $225,173 $223,861 $221,341 $218,821 $216,301 $213,781 $211,260 $208,740 $206,220 $203,700
Paid-in Capital $32,732 $56,732 $80,732 $104,732 $128,732 $152,732 $176,732 $200,732 $224,732 $248,732 $272,732 $296,732 $320,732
Retained Earnings ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732) ($22,732)
Earnings $0 ($11,929) ($23,838) ($31,725) ($38,842) ($42,938) ($44,013) ($43,067) ($40,100) ($35,113) ($27,104) ($16,075) ($5,025)
Total Capital $10,000 $22,071 $34,162 $50,275 $67,158 $87,062 $109,987 $134,933 $161,900 $190,887 $222,896 $257,925 $292,975
Total Liabilities and Capital $235,000 $252,284 $261,856 $275,448 $291,019 $308,403 $328,808 $351,234 $375,681 $402,148 $431,636 $464,145 $496,675
Net Worth $10,000 $22,071 $34,162 $50,275 $67,158 $87,062 $109,987 $134,933 $161,900 $190,887 $222,896 $257,925 $292,975
General Assumptions
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%
Tax Rate 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
Sales Forecast
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Sales
Patient Care 0% $0 $0 $4,000 $6,000 $9,000 $12,000 $14,000 $16,000 $18,000 $21,000 $24,000 $24,000
Other 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Sales $0 $0 $4,000 $6,000 $9,000 $12,000 $14,000 $16,000 $18,000 $21,000 $24,000 $24,000
Direct Cost of Sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12
Not applicable - see expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0