OB-GYN Practice Business Plan, Marketing Plan, How To Guide, and Funding Directory
The OB-GYN Practice Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an OB-GYN Practice business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Obstetricians and gynecologists are extremely important types of healthcare practitioners given the fact that they are medical doctors that tend to women’s health and for the birth of babies. These businesses enjoy very high barriers to entry given the extensive amount of education and licensure required by the physician owner in order to operate a OB/GYN practice. The startup costs associated with a new gynecology or obstetrics practice typically runs around $100,000 to $500,000 depending on the initial scope and size of the practice. The gross margins from revenues typically is around 85%. Given that this is a medically focused business, almost all financial institutions are willing to provide a substantial amount of capital support for these businesses given the fact that their revenues are completely immune from negative changes in the economy. Although there are continued changes to healthcare regulations as it relates to insurance reimbursement as well as reimbursement from publicly funded health systems, obstetricians and related medical professionals are always going to be able to generate revenues from their services. In fact, many financial institutions have a number of programs available that are specific for physicians as well as other healthcare practitioners that provide them with a significant amount of capital support that would not otherwise be available to other types of businesses.
A OB/GYN practice business plan should be developed if the owner is going to be seeking capital from a financial institution. This business plan should feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to industry research, there are approximately 25,000 OB/GYN practices within the United States and each year these businesses generate about $15 billion in revenue. The industry outlook for the specific segment of the medical industry a strong given the fact that people are can continue to have children and women are to continue to need proper healthcare. The industry is expected to grow at a rate approximately equal to that of the general economy. A demographic analysis showcasing the number of women within the target market, annual household income, percentage of families that have health insurance, and the number of women that are pregnant at any given time should begin included within the statistical analysis for this type of medical practice. A competitive analysis is typically included as well that showcases the number of obstetricians and gynecologists practicing within the specific market. This will ensure that the practice is not being opened in a heavily saturated market.
An OB/GYN practice SWOT analysis should be produced as well in conjunction with the business plan and marketing plan. As it relates to strengths, these practices are always going to be in demand given the fact that they serve the needs of women and expectant families. The revenues generated on a per physician basis are extremely high, and the barriers to entry are also extremely high.
For weaknesses, this specific type of medical practice does have very high operating expenses especially as it relates to malpractice insurance. It is not uncommon to have a per physician malpractice policy cost $40,000 to all it’s a $200,000 per year. As such, it is imperative that this practice hire a qualified practice manager that can completely keep tabs on all operating expenses.
For opportunities, these businesses will frequently hire associate gynecologists and obstetricians in order to increase the revenues of the practice. Additionally, given the nature of the work – almost all practices maintain hospital admitting privileges so that services can be rendered in a hospital facility. This is an imperative aspect to most of these practices given the fact that most children are always born in a hospital.
As it pertains to threats, these businesses can have some issues as it relates to changes in political policy especially for Medicare and Medicaid. However, this is a risk that is bared by all medical and healthcare businesses, and a qualified practice manager can assist the physician-owners with determining which strategies to take in order to mitigate the issues pertaining to a decline in reimbursement.
An OB/GYN practice marketing plan also needs to be developed in order to ensure that a substantial amount patient flow from the Onset of operations. Foremost, most people that are establishing their own practice already have established contacts with other physicians within the target market. As such, a physician owner should work closely with their referral base in order to ensure that they are able to have a number of patients come to the facility right away. Additionally, an expansive online presence is almost maintained by all types of obstetrician sessions these days. This website should be among all major search engines including Google, Yahoo, and Bing. It is very important these days for search engine optimization that the website is mobile friendly. The website should have information regarding the staff doctors, staff nurses, hours of operation, emergency contact information, services rendered, and information about what insurance is and publicly funded healthcare system payments are accepted.
People are always going to become pregnant, and there is always going to be a continued need for doctors that are able to care for a patient who is pregnant with the child and for general health purposes. This industry will not face any of the risks relating to automation, and specialty aspects of healthcare these days – including telemedicine – will be a great boon to these businesses moving forward. A physician who has specialized in the field of obstetrics and gynecology can expect to earn a highly competitive salary coupled with substantial profits from owning and operating this type of medical practice.