MEDICAL OFFICE STARTUP CHECKLIST

GETTING STARTED – MISSION STATEMENT & VISION
☐	Determine why you want to start a business.
☐	Create a plan: What do we do? How do we do it? Who do we serve?
☐	Determine viability: Is there a market for your service?
☐	Determine a location that can best service your market.
☐	Assess how much capital you have available to invest and how much you need to raise.
☐	Who are your key partnerships?
☐	Discuss your plans with family members to ensure they are behind you.

BUSINESS OBJECTIVES.
☐	Define the customer “problem” and how your business can provide a solution in a unique way.
☐	What specific goods and services will you be offering your clientele? (e.g. pediatrics, general practice, orthodontics, etc.)
☐	Determine viability: Is there a market for your service? Is it over/under-saturated?
☐	Industry analysis: What are the key success factors, size, growth rate and trends of the industry?
☐	What is your growth strategy?
☐	How will you keep up and adapt to changing markets?
☐	Define your market: Who is your ideal customer? What is your market size? How easy is it to acquire the customer?
☐	Create an operational plan: general operations, protocol, business location, facilities and equipment needed.
☐	Determine your company structure, management team and staffing.
☐	Create a financial plan: Identify costs and forecasted sales. When can you break even and turn a profit?

SETTING UP YOUR BUSINESS
☐	Business name availability: Perform a corporate name search to make sure your name is still available.
☐	Register your business domain.
☐	Apply for business licenses and permits and tax payer’s ID.
☐	Decide on a legal structure or business structure and incorporate: Corporation, LLC or Sole Proprietorship.
☐	Set up software platforms and CRM tracking system.
☐	Set up an accounting and record keeping system: hire an accountant, select an accounting system and a fiscal year.
☐	Acquire necessary insurance policies for your business: (liability, workers comp, malpractice, health insurance, etc)
☐	Open a business bank account and business credit card.
☐	Applications for loan
☐	Purchase of medical equipment and furniture
☐	Recruitment of staff and employees
☐	Begin networking with pre-marketing materials such as business cards, brochures, or public relations.

START UP EXPEDITURE: BUDGET
☐	Estimate how long it will take for your business to turn a profit.
☐	Itemize your living expenses for the first year, at least, and assess where this will come from.
☐	Itemize how much start-up capital is required to launch the business and project how long before profitability.
☐	If outside investment is required beyond the founders’ savings, determine: the amount of the loan how the funds will be used requested repayment of the loans (number of months/years to repay) collateral offered

PLANNING FOR YOUR MEDICAL OFFICE START UP
☐	Write an Executive Summary after the other sections of the Business Plan are completed below.
☐	Complete a Company Overview that includes basic information and a summary of the management team.
☐	Write a Business Description section describing your products and services and what problems they solve.
☐	Prepare a Market Analysis section that describes the total market and your target market, specific segment needs, competitive offerings available, and any trends that will affect the analysis.
☐	Describe an Operating Plan for the business, such as operating hours, number of employees, key vendors and any adjustments your business might need to adapt to.
☐	Create a Marketing and Sales Plan that includes a “Go To Market” or launch plan, pricing, how your business will generate leads, close new business and retain existing clientele.
☐	Build a Financial Plan that shows a break-even analysis, projected profit and loss, and projected cash flows.

SETTING UP TO OPERATE
☐	Location: Find a feasible space for you to maximize your reach to your targeted audience.
☐	Identify any staffing needs.
☐	Recruit, interview, hire, and train employees (if applicable).
☐	Identify and set up any needed technology: POS, Email, Phones, CRM, Billing and Payment systems
☐	Ensure your technology systems are secure with your information or customer information.
☐	Depending on the business type, identify and partner with the right suppliers/vendors.
☐	Set up your pricing structure.

MARKETING AND LAUNCHING YOUR BUSINESS
☐	Develop and refine a brand for your company and its products or services.
☐	Begin distributing or displaying your marketing materials: web-based advertising, social media, direct mail, business cards, trade shows, brochures.
☐	Enter into business partnerships with health management organizations, government agencies and health insurance companies.
☐	Advertise your medical clinic in community-based newspapers, local TV and local radio stations
☐	Online, initiate digital marketing through blogs, emails, or SEO strategies to drive traffic to your web site.
☐	Sponsor community health programs, attend expos, etc.
☐	Organize an opening event at a local business. Create a relationship that might allow cross-promotions.

SUSTAINING YOUR BUSINESS
☐	Keep track of what strategies work and which ones flopped to fine tune your marketing tactics.
☐	Ask for referrals and testimonials to build credibility.
☐	Maintain and nurture your repeat business. Remember, it costs 80% less to maintain a current relationship, than to go out and vie for a new one.