Elite Medical Transcription
Company Summary
EMT, a medical transcription service, will serve the Eugene medical community. We will offer a superior service through the use of sophisticated digital equipment and careful proofing. In addition to superior equipment, EMT offers professionally trained transcriptionists. Dawn Copikat has taken numerous medical courses to provide her with a medical vocabulary and understanding. This level of knowledge will become a true asset while serving the medical community.
EMT will be located in in Dawn’s home. Dawn will be in charge of scheduling, estimates, billing, and some transcribing. Dawn will also have one full-time employee who will be doing transcriptions. By month 11, Dawn will bring another full-time transcriber onboard. According to projections, EMT will become profitable by month eight and will generate $35,000 in revenues by year three.
2.1 Company Ownership
EMT is a sole proprietorship, founded and owned by Dawn Copikat.
2.2 Start-up Summary
EMT will require the following equipment:
- Legal fees regarding company formation and generation, and review of contracts.
- Advertising costs for advertisements placed in the local medical journals and association newsletters.
- Furniture for the office including two desks, two chairs, and two file cabinets.
- Paper shredder, copier, and fax machine.
- Two computer systems including Microsoft Office, a printer, CD-RW, and Internet connection.
- Two transcribers.
- Medical transcription software.
- Specific psychologist transcription software.
- Reference library.
- Voice recognition software.
- Various office supplies including stationary.
- Cellular phone and pager.
Please note that the equipment listed above will be used for longer than one year and will be considered long-term assets.
| Start-up Funding | |
| Start-up Expenses to Fund | $400 |
| Start-up Assets to Fund | $29,600 |
| Total Funding Required | $30,000 |
| Assets | |
| Non-cash Assets from Start-up | $5,450 |
| Cash Requirements from Start-up | $24,150 |
| Additional Cash Raised | $0 |
| Cash Balance on Starting Date | $24,150 |
| Total Assets | $29,600 |
| Liabilities and Capital | |
| Liabilities | |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $0 |
| Other Current Liabilities (interest-free) | $0 |
| Total Liabilities | $0 |
| Capital | |
| Planned Investment | |
| Dawn | $30,000 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| Total Planned Investment | $30,000 |
| Loss at Start-up (Start-up Expenses) | ($400) |
| Total Capital | $29,600 |
| Total Capital and Liabilities | $29,600 |
| Total Funding | $30,000 |
| Start-up | |
| Requirements | |
| Start-up Expenses | |
| Legal | $300 |
| Stationery etc. | $100 |
| Other | $0 |
| Total Start-up Expenses | $400 |
| Start-up Assets | |
| Cash Required | $24,150 |
| Other Current Assets | $0 |
| Long-term Assets | $5,450 |
| Total Assets | $29,600 |
| Total Requirements | $30,000 |
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