CAT Scan Imaging Center Business Plan, Marketing Plan, How To Guide, and Funding Directory
The CAT Scan Imaging Center 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 a CAT Scan Imaging Center 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):
CAT scan imaging centers are still a very important part of the overall medical imaging industry. This is primarily due to the fact that there are certain capabilities of a CAT scan machine that are not able to be found among MRI machines and other medical imaging devices. Although the use of CAT scans is on the decline given the moderate amount of health risks associated with this type of medical imaging, there still a strong demand among a number of medical specialties to have CAT scans performed on their patients. Given the economically secure nature of these businesses coupled with a substantial amount of medical equipment, almost all financial institutions are willing to provide the necessary capital in order to launch a CAT scan imaging center. It should be noted that these days many of these facilities are typically developed in conjunction with their MRI counterparts. The gross margin is generated from CAT scans are substantial and usually run about 80% to 85% depending on what is considered part of the overall cost of goods sold. The start of cost associated with this type of business typically runs anywhere from $1 million to $10 million, but the median is in the $3 million to $5 million range depending on the number of machines are going to be purchased or leased at the onset of operations. On a quick side note, there are a number of medical companies that specialize in providing equipment lease financing for large pieces such as CAT scan machines. It is up to the entrepreneur to determine which form of financing makes the most sense from a financial and balance sheet perspective. A qualified certified public accountant can assist the physician owner or an entrepreneur and determining which is the most appropriate for financing for this type of business.
A CAT scan imaging Center SWOT analysis should be developed as well in conjunction with a business plan as well as a marketing plan. As it relates to strengths, CAT scan imaging centers are always able to produce a positive income given the fact that people are going to require the services despite any negative change in the economy. Physicians are always able to provide these services in conjunction with private insurance as well as publicly funded healthcare systems. The gross margins generated are very high, and the barriers to entry for this business are extremely high.
For weaknesses, these businesses do have very high operating expenses given the fact that they need to maintain pieces of equipment that cost millions of dollars, while also employing a staff of technicians as well as radiologists. However, despite the very high operating expenses – the substantial amount of revenues from providing CAT scans always covers the underlying operating costs.
For opportunities, one of the ways that CAT scan imaging centers often expand their operations is by establishing new centers outside of their initial target market. Additionally, additional pieces of equipment such as proton related equipment and MRI equipment can be acquired in order to increase the scope of medical imaging services available to the general public.
For threats, as this is a healthcare company – changes in political policy pertaining to reimbursement and patient co-pays can have an impact on the profit and loss statement of a CAT scan imaging center. However, by maintaining tight controls on all underlying operating expenses most CAT scan imaging centers are able to adjust their pricing and operations in response to a change in reimbursement policies.
A CAT scan imaging center business plan should be developed as well. This document should feature a three year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. A demographic analysis showcasing the population size, population density, number of people that require CAT scans on and yearly basis, and will household income, and other statistics regarding the general population should be included as well. A competitive analysis showcasing other medical imaging companies within the target market needs to be thoroughly discussed within the business plan. If the entrepreneur or physician-owner is seeking capital from a financial institution then this document should also list all the equipment – including makes and models of CAT scan imaging equipment – that will be acquired using the funds on the business plan. A qualified business plan writer or a certified public accountant can assist the entrepreneur in developing the appropriate documentation in order to secure a loan.
A CAT scan imaging center marketing plan should also be developed in order to ensure that physicians will frequently send their patients to the imaging center on a regular basis. Foremost, the entrepreneur that starts as business needs to maintain extensive relationships with area radiologists, cardiologists, internal medicine positions, and any other type of medical specialty in which medical imaging is frequently used. This also includes developing very strong relationships with neurologists who frequently do have their patients undergo MRI as well as CAT scan imaging procedures. A website showcasing the company’s operations, machines used, medical imaging services rendered, costs, and insurance is accepted should be included on the website. A search engine optimization firm as well as a company that specializes in pay per click marketing can be hired in order to create an initial marketing campaign online for this type of business. However, the greatest asset for these types of businesses is having physician referrals and physician ordered images on behalf of their patients.
While other technologies are becoming more prevalent as it relates to medical imaging, there is still a need for CAT scans. These businesses can be highly lucrative and they can be readily expanded in any given market. The very high start up costs coupled with the extensive amount of highly skilled personnel allow these businesses to enjoy high barriers to entry once they are established. Although there may be some changes in reimbursement policy – among publicly funded healthcare systems – there is still always going to be a need for the services and a qualified entrepreneur will always be able to ensure that these businesses can remain profitable and cash flow positive at all times.