Elite Medical Transcription

Start your own business plan »

Medical Transcription Business Plan

Appendix

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
Doctors 0% $0 $1,245 $1,354 $1,654 $2,474 $3,254 $3,354 $4,125 $5,358 $5,987 $6,547 $7,354
Psychologists 0% $0 $1,001 $1,245 $1,458 $1,874 $2,754 $3,021 $3,524 $4,685 $5,055 $5,687 $6,235
Total Sales $0 $2,246 $2,599 $3,112 $4,348 $6,008 $6,375 $7,649 $10,043 $11,042 $12,234 $13,589
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
Doctors $0 $125 $135 $165 $247 $325 $335 $413 $536 $599 $655 $735
Psychologists $0 $100 $125 $146 $187 $275 $302 $352 $469 $506 $569 $624
Subtotal Direct Cost of Sales $0 $225 $260 $311 $435 $601 $638 $765 $1,004 $1,104 $1,223 $1,359
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
Dawn 0% $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000 $3,000
Full-time Transcriber 0% $0 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100 $2,100
Full-time Transcriber 0% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,100 $2,100
Total People 1 2 2 2 2 2 2 2 2 2 3 3
Total Payroll $3,000 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $7,200 $7,200
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% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00% 25.00%
Other 0 0 0 0 0 0 0 0 0 0 0 0
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 $2,246 $2,599 $3,112 $4,348 $6,008 $6,375 $7,649 $10,043 $11,042 $12,234 $13,589
Direct Cost of Sales $0 $225 $260 $311 $435 $601 $638 $765 $1,004 $1,104 $1,223 $1,359
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $0 $225 $260 $311 $435 $601 $638 $765 $1,004 $1,104 $1,223 $1,359
Gross Margin $0 $2,021 $2,339 $2,801 $3,913 $5,407 $5,738 $6,884 $9,039 $9,938 $11,011 $12,230
Gross Margin % 0.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00% 90.00%
Expenses
Payroll $3,000 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $7,200 $7,200
Sales and Marketing and Other Expenses $135 $135 $135 $135 $135 $135 $135 $135 $135 $135 $135 $135
Depreciation $151 $151 $151 $151 $151 $151 $151 $151 $151 $151 $151 $151
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125 $125
Insurance $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100
Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Payroll Taxes 15% $450 $765 $765 $765 $765 $765 $765 $765 $765 $765 $1,080 $1,080
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating Expenses $3,961 $6,376 $6,376 $6,376 $6,376 $6,376 $6,376 $6,376 $6,376 $6,376 $8,791 $8,791
Profit Before Interest and Taxes ($3,961) ($4,355) ($4,037) ($3,575) ($2,463) ($969) ($639) $508 $2,663 $3,562 $2,220 $3,439
EBITDA ($3,810) ($4,204) ($3,886) ($3,424) ($2,312) ($818) ($488) $659 $2,814 $3,713 $2,371 $3,590
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Net Profit ($3,961) ($4,355) ($4,037) ($3,575) ($2,463) ($969) ($639) $508 $2,663 $3,562 $2,220 $3,439
Net Profit/Sales 0.00% -193.88% -155.33% -114.88% -56.64% -16.13% -10.02% 6.64% 26.51% 32.26% 18.14% 25.31%
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 $1,011 $1,170 $1,400 $1,957 $2,704 $2,869 $3,442 $4,519 $4,969 $5,505 $6,115
Cash from Receivables $0 $0 $41 $1,242 $1,439 $1,734 $2,422 $3,311 $3,530 $4,251 $5,542 $6,095
Subtotal Cash from Operations $0 $1,011 $1,211 $2,642 $3,395 $4,438 $5,291 $6,753 $8,049 $9,220 $11,047 $12,210
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $0 $1,011 $1,211 $2,642 $3,395 $4,438 $5,291 $6,753 $8,049 $9,220 $11,047 $12,210
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 $3,000 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $5,100 $7,200 $7,200
Bill Payments $27 $828 $1,351 $1,387 $1,440 $1,565 $1,727 $1,767 $1,898 $2,133 $2,244 $2,668
Subtotal Spent on Operations $3,027 $5,928 $6,451 $6,487 $6,540 $6,665 $6,827 $6,867 $6,998 $7,233 $9,444 $9,868
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 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
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 $3,027 $5,928 $6,451 $6,487 $6,540 $6,665 $6,827 $6,867 $6,998 $7,233 $9,444 $9,868
Net Cash Flow ($3,027) ($4,917) ($5,240) ($3,844) ($3,145) ($2,227) ($1,536) ($114) $1,051 $1,987 $1,604 $2,342
Cash Balance $21,123 $16,206 $10,966 $7,121 $3,976 $1,749 $212 $99 $1,150 $3,137 $4,741 $7,083
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 $24,150 $21,123 $16,206 $10,966 $7,121 $3,976 $1,749 $212 $99 $1,150 $3,137 $4,741 $7,083
Accounts Receivable $0 $0 $1,235 $2,624 $3,093 $4,046 $5,616 $6,701 $7,596 $9,590 $11,413 $12,599 $13,978
Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Current Assets $24,150 $21,123 $17,441 $13,589 $10,215 $8,022 $7,365 $6,913 $7,695 $10,740 $14,550 $17,340 $21,061
Long-term Assets
Long-term Assets $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450 $5,450
Accumulated Depreciation $0 $151 $302 $453 $604 $755 $906 $1,057 $1,208 $1,359 $1,510 $1,661 $1,812
Total Long-term Assets $5,450 $5,299 $5,148 $4,997 $4,846 $4,695 $4,544 $4,393 $4,242 $4,091 $3,940 $3,789 $3,638
Total Assets $29,600 $26,422 $22,589 $18,586 $15,061 $12,717 $11,909 $11,306 $11,937 $14,831 $18,490 $21,129 $24,699
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 $783 $1,305 $1,339 $1,388 $1,508 $1,668 $1,704 $1,827 $2,058 $2,155 $2,575 $2,706
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 $783 $1,305 $1,339 $1,388 $1,508 $1,668 $1,704 $1,827 $2,058 $2,155 $2,575 $2,706
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $783 $1,305 $1,339 $1,388 $1,508 $1,668 $1,704 $1,827 $2,058 $2,155 $2,575 $2,706
Paid-in Capital $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000
Retained Earnings ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400) ($400)
Earnings $0 ($3,961) ($8,316) ($12,353) ($15,928) ($18,391) ($19,359) ($19,998) ($19,490) ($16,827) ($13,265) ($11,046) ($7,606)
Total Capital $29,600 $25,639 $21,284 $17,248 $13,672 $11,210 $10,241 $9,602 $10,110 $12,773 $16,335 $18,554 $21,994
Total Liabilities and Capital $29,600 $26,422 $22,589 $18,586 $15,061 $12,717 $11,909 $11,306 $11,937 $14,831 $18,490 $21,129 $24,699
Net Worth $29,600 $25,639 $21,284 $17,247 $13,672 $11,210 $10,241 $9,602 $10,110 $12,773 $16,335 $18,554 $21,994