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Medical Support & Laboratories icon Medical Scanning Lab Business Plan

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Scan Lab

Executive Summary

Scan Lab Medical Imaging is a start-up company offering a wide range of medical image scanning tests for the New Bedford, Massachusetts community.

The Market
Scan Lab will target insurance carriers. Insurance carriers use a bid submittal process to set up contracts with the various medical scan service providers. In today’s medical environment these contact are key because 99% of the scans done are billed through insurance. Insurance companies therefore are the gate keepers to this process. Scan Lab recognizes the importance of getting insurance carriers approval and will work hard to get approved by all popular insurance plans.

Once Scan Lab has been approved by an insurance company, it will rely on referrals of physicians to point their patients to Scan Lab. Doctors make referrals based on several factors including geographic location/convenience who they know, accepted forms of insurance, type of scan, etc. It will be important to have a strong marketing and sales campaign that alerts referring doctors to Scan Lab’s services.

Scan Lab offers a wide range of radiology-based medical scanning tests. Scan Lab has the latest equipment and the expert medical training to interpret and provide valuable consultations to the physicians who make the patient referrals to Scan Lab.

Scan Lab will be lead by Dr. Carolyn Jones. Dr. Jones received her medical degree with a specialization in radiology from the University of California San Diego, a nationally recognized medical school for radiology. Dr. Jones performed her residency at John Hopkins, also nationally recognized for their radiology program. Dr. Jones has practiced radiology for 13 years at a large clinic in Boston.

1.1 Mission

It is Scan Lab’s mission to be recognized as the leader in medical scanning technology in New Bedford. This will be achieved by friendly service, flexible acceptance of insurance plans, and accurate analysis.

Medical scanning lab business plan, executive summary chart image

1.2 Objectives

  • To capture 40% of local physicians’ business within two years.
  • To reach profitability within two years.
  • To double sales by year three.

1.3 Keys to Success

  • Only purchase medical equipment that has demand within the community.
  • Provide fast, friendly service with accurate readings.
  • Employ strict financial controls to help manage the expensive capital costs associated with medical imaging equipment.