Non-Ambulatory Transport Service Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Non-Ambulatory Transport Service 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 Non-Ambulatory Transport Service 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 for the Industry
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Marketing Plan (24 to 28 pages)
- 425+ Page Funding Directory
- PowerPoint Presentation
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- How to Start a Business Guide
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PowerPoint Format
- Meets SBA Requirements
Non-ambulatory medical transportation businesses have become extremely popular over the past 10 years, especially as more people from the baby boomer generation require ongoing transportation services from their homes to physicians offices. These businesses are always able to generate revenues from their services given that they provide transportation not only from individuals that need to go from their homes to a medical office but also among assisted-living facilities, nursing homes, palliative care facilities, and related medical entities that need to have their patients moved from one place to another. Although insurance and publicly funded health systems only provide a limited amount of reimbursement for these services, there always able to remain profitable and cash flow positive given the fact that they keep the costs associated with transportation affordable. In many cases, nonemergency and non-ambulatory medical transportation businesses either operate as a stand-alone business or as part of an ambulatory service corporation. The demand for these services is expected to continue to remain strong in any economic climate. It should be noted that third-party services that are similar to Uber and Lyft may be developed in the future in order to provide the services on demand. It should be noted that there are also a few taxi businesses that have gone into the segment of the medical transport industry.
The startup costs associated with these businesses is relatively low given the fact that a appropriate vehicle for transporting an individual must be acquired. Generally, the startup cost for a new nonemergency medical transport business ranges anywhere from $50,000 all the way to $500,000 depending on the number of vehicles that will be used at the onset of operation. Most importantly, most financial institutions are willing to provide all the necessary capital in order to get one of these businesses up and going. This is primarily due to the fact that the collateral that is associated with the business loan is typically in the form of a highly salable vehicle that is specific for medical transportation services.
Of course, a nonemergency medical transportation service business plan is going to be required if the individual entrepreneur needs a loan in order to commence operations. This business plan 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 average client of the company should be included as well and this should focus significantly on median household income, number of times they need to be transported from their homes to medical entities, percentage of people that have Medicare, percentage of people that have health insurance, and the average ability for an individual to pay for medical transportation should be included as well. Within the business plan, a competitive analysis that focuses on ambulatory companies as well as other nonemergency medical transport businesses should be included within the documentation.
A nonemergency medical transport service SWOT analysis should be produced as well. Foremost, one of the key strengths of this businesses at their revenues are able to be generated even during times of economic recession. The startup costs are low and the ongoing operating expenses are moderate. The biggest operating expense for this type of business is fuel costs, driver cost, and the underlying insurance that needs to be acquired in order to commence operations. It usually takes about six months in order to get all the necessary paperwork in order to become licensed as a nonemergency medical transport service.
For weaknesses, changes in reimbursement schedules and a clients ability to pay can have an impact on the revenues of the business. However, the services typically considered a necessity especially among people that have wheelchairs or must be transported in a hospital bed. As such, despite any changes in the external inputs of the business – demand will continue to remain strong for the foreseeable future.
The opportunities for a nonemergency medical transport service are limitless. It can be the simple addition of more vehicles and more drivers which can rapidly boost the revenues of the business. Additionally, many operators of these companies will frequently acquire similar businesses in order to expand their operations on a nonorganic basis. Again, almost all financial institutions are willing to put up the necessary capital in order to launch one of these operations or acquire an existing business.
For threats, competitive issues are always going to remain a threat for these companies as well as potential changes in reimbursement schedules. However, the strong gross margins generated from services despite potential declines in revenue will allow these businesses to remain profitable and cash flow positive in most scenarios.
A medical nonemergency transport business also needs to develop a marketing plan. Foremost, the operators of these companies typically focus heavily on developing ongoing relationships with physicians, nursing homes, assisted living facilities, taxi businesses, and ambulatory companies that do not provide nonemergency transport. This is going to be one of the quickest ways in which these businesses are able to generate their initial revenues given the immediate and strong demand for the services. Physician referrals can also be a benefit to the business given the fact that some insurance companies – when they provide reimbursement for these services – typically do need a referral from a physician in order to pick up and drop off their patients.
As with any business these days, a presence on the Internet is extremely important given that many people will conduct their initial searches on the Internet to find the specialized business. A full website showcasing the vehicles available, Pro fires of drivers, cost information, location information, and contact information should all be included on this website. There should also be functionality and information regarding individuals who may need to have these fees reimbursed by insurance companies or publicly funded healthcare systems. A presence on social media is not typically needed in order to make these businesses successful. However, there are next to no cost associated with developing and maintaining a small social media page that showcases the services of the business. As such, these companies can benefit moderately by maintaining a modest profile on social media in order to develop a strong girder brand name within their regional market.
Nonemergency medical transportation is going to become one of the mainstay industries as it relates to ambulance focus businesses. For established companies, these services can be a great ancillary source of revenue to further boost their profitability while concurrently boosting their brand-name visibility. One of the nice things about this business is that it is not going to be subject to automation given the fact that most people who are being transported to require human assistance in order to move from the vehicle to a physician’s office or hospital. As such, while many businesses are concerned about automation as it relates to the transportation industry – this specialty sub segment of the industry is relatively immune from the threat of automation. The growth of this industry is expected to reach 5% per year for the next 20 years. These businesses can be highly lucrative among an owner operator that has an understanding of the transportation industry and how to properly care for people that need to have non emergency yet medically focused transportation.