Park Square Family Medicine

Start your own business plan »

Family Medicine Clinic Business Plan

Strategy and Implementation Summary

Our strategy for a successful start is based on quickly creating a high profile and name recognition within the community through public speaking, networking, promotional events, and print advertising. These marketing tools will be followed up with a sales strategy that relies on a pleasant and accessible location, well-trained, highly motivated employees, and a commitment to provide the best care and patient experience possible in every interaction. The advantage of this strategy is that every element of it is within our control.

With few local doctors for this community, competition will be less of a concern than will education of potential patients about the benefits of seeing any doctor at all, and encouraging preventive health care.

Competitive Edge

Park Square Medical Center will have an competitive edge based on position, timing, quality of care, availability to patient, after-hour care, weekend hours, quality time, pleasant staff and office environment. All of these factors will result in patient satisfaction and high referral rates.

In general, competition among fellow family practitioners in our town and the surrounding area is small. The growing population base and the limited number of doctors creates a strong opportunity.

Marketing Strategy

Upon opening up a new General Practice such as Park Square Family Medicine, it is important to create momentum before the actual day of opening. In conjunction with a Marketing and Advertising Group this momentum will be created 1 month prior to the opening date. We will first try to get our name recognized in conjunction with promoting the location and the services we can offer.

We feel that the most important way to become established is create a presence among the community. The best way to create this is through a combination of the strategies outlined below, in order to accomplish greater visibility to prospective patients and institutions.

Marketing Materials

All written materials used to promote the medical office will share a professional and polished look and feel. Our office will carry our own leaflets, to be made available to all patients, containing factual information about the services provided. This leaflet will also contain some biographical information, location, photos and other promotional material. This leaflet will be used to help promote Park Square Family Medicine both as handouts for patients within the clinic, as well as potential patients outside the clinic.

The clinic will provide multiple education brochures from the AAFP. We will have an area where health information will be displayed and dispersed in the form of packets and brochures. In addition, patient information handouts will also be available via the EMR system and the website.

There will be a number of patient-friendly brochures, videos, mailings, and other materials used to promote the medical office. We will have multiple ads in magazines and newspapers, as well as a commercial to announce the opening of Park Square Family Practice.

Park Square Family Medicine will employ commercials, mail-outs that may include new patient discounts, yellow pages, magazines, newspapers, and other forms of advertising.

Promotional Events

We will set up an open house for surrounding businesses and potential patients to let them see our new clinic. During these open houses, we will provide HTN readings, glucose testing, and much more. We will consider having a blood drive in coordination with the local hospitals and Red Cross.

Park Square Family Medicine will hold health information workshops with the help of community organizations for the general public at Park Square Family Medicine, as well as in local and public areas of interest. Our goal will be to bring new patients into the clinic but to also create word of mouth. New patients will have time to ask questions about medicine and new patients will be introduced to the new clinic. Our goal is to meet and promote the clinic to as many people before the opening of the clinic, as well as after the clinic is open.

Networking

Park Square Family Medicine will become a member of the business community. We will join and attend key business events that will help promote our new business. We will also promote ourselves in local business directories. We will also network through various organizations, such as local churches, the Lyons club, the Rotary club, as well as the country club in order to promote and generate further interest in our services.

Park Square Family Medicine will incorporate reciprocal advertising with other nearby healthcare facilities, such as opticians, chiropractors, and hospitals. Park Square Family Medicine will obtain additional patients via ER referrals.

Accessibility

Park Square Family Medicine will adopt several strategies to ensure patient satisfaction and word of mouth advertising. First our hours will include after after-hours care and allow patients to come into clinic after they get off work. We will also be open on Saturdays. This means there will be several days that we will be open till 7:00 P.M. and that we will also be open on Saturdays.

Marketing Expenses

Print Distribution:

Newspaper A: A newspaper that serves the local region. A weekly circulation reaching approximately 40,000 homes and apartments. Additional papers circulated to businesses for handout distribution.  Estimated ad space for an 8 inch color ad: $445.00 per circulation. Requests for placement 25% surcharge. Discounts given for frequency.

Magazine B: a monthly magazine that is mailed to approximately 40,000 residents within our area. Quarter Page Ad: $656.00 / Ad with 3 month contract, $627.00/ Ad with 6 month contract, $568.00/Ad with 12 month contract.

Professional Directory C: They will have advertising opportunities in their Professional Directory that is published in the Fall. I do not have pricing details guaranteed. Estimate a Quarter Page Ad: $1,100.00/Year

Commercial Advertising:
Effective campaign would include 100-150 spots per month. Several cable channels to target. 30 second spots range between: $50-75.00/ Spot. Primetime setting is $65.00- $100.00/Spot.

Direct Mail Marketing:
Targeting a specific prospect and demographic. Designing a targeted campaign, printing, and mail processing: Estimate: $00.75/piece processed. Effective direct mail campaign ranges between 5,000-10,000. Mailing to the same market 3 times over a six month period.

Sales Strategy

The sales process begins when a patient calls us, comes in for an appointment, or accompanies a family member to an appointment. In every interaction, we must be accessible, courteous, knowledgeable, and helpful.

Location:
The clinic will be located in the heart of town. Patients will easily be able to find the clinic. Signs will be posted in strategic places to help assure patients comfort in finding our location. We feel that our location is a great asset and will strengthen our future success.

Flexible Hours:
Park Square Medical Clinic will adopt several strategies to ensure patient satisfaction and word of mouth advertising. First, our hours will include after after-hours care and allow patients to come into clinic after they get off work. We will also be open on Saturdays. This means there will be several weekdays that we will be open till 7:00 P.M. and that we will be open on Saturdays. We will also take walk-ins in order to provide the best possible convenience for the patient.

Environment, Appearance, Etiquette and Overall Patient Experience:
The building will have a bright and cheerful appearance with flowers and plants to decorate the outside and inside of the office. There will be colorful and informative signs that will help them find the clinic. Upon arriving and entering the clinic the patient will be greeted with a smile.

Patients' needs and concerns will be addressed and they will be asked politely to have a seat in the waiting room. Upon arrival to the waiting room they will experience comfortable seating, good lighting, soft music or T.V, reading material and the general comforts appreciated by any patient. The walls will have beautiful art and there may even be a fish tank. The clinic rooms will be professional, clean and organized and the walls will be decorated with medical posters that will help explain the most common conditions. During the consultation the doctor will have a white coat and tie and will conduct himself in a professional and courteous manner. After the consultation, the doctor or the nurse will escort the patient to the front where all further arrangements will be made. A courtesy reminder card will be filled our for patients' convenience.

Pricing Strategy:
The pricing for consultations and visits, as well as any procedures will be billed according to industry standards. We will be consistent with our competitors and the national averages. Most pricing will be dependent upon agreements with the five largest insurers in the area.

Sales Literature:

The clinic will provide multiple education brochures from the AAFP. We will have an area where information will be displayed and dispersed in the form of packets and brochures. In addition, information handouts will also be available via the EMR system and website.

Sales Forecast

The first month prior to opening will be used to get the new office in order, set up appointments and begin marketing activities. The following months Park Square Medical Clinic will continue advertising and will use less and less assistance from General Medical Center until the second year, when the subsidy will cease. The following tables basically represent the amount of money that the practice expects to be making.

Note that we list no direct cost of sales. This is standard for the medical office industry, since all medical supplies and waste disposal (needles, gauze, etc.) are handled as monthly supply orders, not inventory. These expenses can be found in the projected Profit and Loss statement.

Sales Forecast
Year 1 Year 2 Year 3 Year 4 Year 5
Sales
Patient Care $148,000 $220,000 $250,000 $270,000 $290,000
Other $0 $0 $0 $0 $0
Total Sales $148,000 $220,000 $250,000 $270,000 $290,000
Direct Cost of Sales Year 1 Year 2 Year 3 Year 4 Year 5
Not applicable - see expenses $0 $0 $0 $0 $0
Other $0 $0 $0 $0 $0
Subtotal Direct Cost of Sales $0 $0 $0 $0 $0

Milestones

We have established some basic milestones to keep the business plan priorities in place. Responsibility for implementation falls on the shoulders of Dr. Detroit. This Milestones table will be updated as the year progresses using the actual tables. New milestones will be added as the first year of operations commences.

Milestones
Milestone Start Date End Date Budget Manager Department
Design and place first ads 9/1/2005 11/1/2005 $2,000 Dr. Detroit & Jack PSFM & GMC
Close on Building 10/1/2005 10/2/2005 $225,000 Dr. Detroit PSFM
Redecorate and Furnish Clinic 10/1/2005 11/15/2005 $13,000 Dr. Detroit PSFM
Install and Test EMR system 11/1/2005 12/15/2005 $4,000 Dr. Detroit & Jan PSFM & GMC
Sign contract for medical billing 11/1/2005 11/1/2005 $0 Dr. Detroit PSFM
Employee training 12/1/2005 12/31/2005 $3,950 Dr. Detroit & Liz PSFM & GMC
Finish Printed Materials 12/1/2005 12/31/2005 $3,500 Dr. Detroit & Jack PSFM & GMC
Monthly Financial Review with GMC 1/2/2006 12/31/2006 $0 Dr. Detroit, Liz, & John PSFM & GMC
Monthly Operational Review with GMC 1/2/2006 12/31/2006 $0 Dr. Detroit & Liz PSFM & GMC
Hold Open Houses 1/2/2006 1/31/2006 $500 Dr. Detroit PSFM
Begin first appointments 2/1/2006 2/10/2006 $0 Dr. Detroit PSFM
Track Patient Load, first three months 2/1/2006 5/1/2006 $0 Dr. Detroit PSFM
Totals $251,950