Healthcare Clinic Financial Model Excel Template

Many doctors who are tired of baseless nagging of the authorities and irregular schedules go into their own business. Yes, many people have no medical education. Still, with the necessary organizational skills and an understanding of the specifics of the industry, they are wondering how to start a clinic business. So, let’s figure out who and how we can open a clinic. Every person who decides to engage in entrepreneurial activity has the opportunity to open a medical center from scratch. It is not at all necessary to have a medical education for this, although it would be a small advantage over other entrepreneurs. However, organizational and entrepreneurial abilities are more important than specialized medical knowledge.

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Buy the Complete Clinic Business Plan Excel Template to forecast Cash Flow. Check how to start a clinic business!

Many doctors who are tired of baseless nagging of the authorities and irregular schedules go into their own business. Yes, many people have no medical education. Still, with the necessary organizational skills and an understanding of the specifics of the industry, they are wondering how to start a clinic business.
So, let’s figure out who and how we can open a clinic. Every person who decides to engage in entrepreneurial activity has the opportunity to open a medical center from scratch. It is not at all necessary to have a medical education for this, although it would be a small advantage over other entrepreneurs. However, organizational and entrepreneurial abilities are more important than specialized medical knowledge.

Long lines, the high cost of medications, the indifference of medical workers to patients’ complaints – all this makes people look for more comfortable conditions for receiving medical care. Accordingly, such a business will always be profitable. But each commercial project is impossible without a detailed business plan. This also applies to clinics.
Our experts have developed detailed templates that will say how to open your clinic. Our business plan forms an understanding of competitors, makes a profit forecast. Thanks to it, the entrepreneur has an approximate picture of upcoming costs. The indication of risks and errors allows us to reduce them to zero and build a break-even model of a new business.
The attractiveness of this type of business has led to high competition in the market for paid medical services. Nevertheless, there are free niches in this field, and they can be successfully mastered. Opening a medical center is exciting, but the costly and challenging issue for an entrepreneur. The main thing is to develop a high-quality and detailed business plan and then successfully follow it.

Clinic Financial Plan Template Will Help You

– Set a population and its growth over 5 years
– Define disease suffering people percentage
– Plan the number of visits for each type of treatment per year
– Define the number of patients as the proportion of sick people
– Outline patients acquisition seasonality
– Take into account visits seasonality
– Choose one of 161 currencies for settlements
– Reckon a break-even point and return on investment
– Plan the costs for opening and operating activities
– Calculate Clinic Startup Expenses

Benefits of using a Clinic Financial Plan Excel Template

Save Time and Money
Excel-Financial-Model allows you to start planning with minimum fuss and maximum of help. No writing formulas, no formatting, no programming, no charting, and no expensive external consultants. Plan the growth of your business instead of fiddling around with expensive techy things.

Convenient, All-In-One Dashboard
Includes all required forecasting reports, including assumptions, profit and loss accounts (income statements), cash flow projections & statements, balance sheets, performance reviews and summaries for months and years (incl. numerous graphs and KPIs).

Service Area Population-based
Most likely your clinic will provide services for a specific area. So, why don’t you use the population number living there in your forecast? Input population starting point and assume for population growth for the next 5 years.
This is your target market to deliver your treatments.

Treatments & Patients
I bet you have more than one treatment…the template will help you organize up to 5 diseases to analyze which treatments will you provide and the percentage of your population needs this kind of Treatment.
This way you estimate how many people in your service market suffer from a disease from your list.

Visits count
Most diseases are chronic therefore you have may assume for repeat visit over the year for the average patient. Entre average visits per patient per year here to count overall visits for a specific treatment kind.
Finally, by entering a price per visit, you will get a revenue forecast.

Simple and Incredibly Practical
Simple-to-use yet very sophisticated financial planning tool. Whatever size and stage of development your business is, with minimal planning experience and very basic knowledge of Excel you can get complete and reliable results. Additionally, you will receive uncompromised after-sales service and access to valuable tutorial videos and blog posts.

Get a Robust, Powerful and Flexible Financial Model
This well-tested, robust, and powerful Excel template is your solid foundation to plan a wide range of different business models. Advanced users are free to expand and tailor all sheets as desired, to handle specific requirements, or to get into greater detail.

Clinic Financial Plan Template Reports

Great Value for Money
Use a robust and proven financial model based on years of experience at an affordable price. This template has a one-off payment of $79 and absolutely no hidden fees or monthly payments. Your other options? Hiring a financial analyst and pay starting from $30 per hour up to hundreds.

All-in-one Dashboard
consists of Income Statement, Balance sheet and Cash flow statement monthly and annual information, presented both with figures and charts

Capitalization table
Shareholder’s ownership dilution is calculated here. This tab consists of 4 rounds of financing

Profit and Loss Statement
It indicates how much an enterprise earns, its income and expenses, and its ability to gain money.

Cash Flow Statement
It is one of the most important reports because the main goal of each business is to generate cash flow. It shows how much you have consolidated money, how much is not enough when you need to attract additional financing.

Financial performance KPIs
here is where you can track your core financial performance indicators in the form of charts.

Top Expense Category Report
It is very important to plan costs so that your company is profitable. It is necessary to analyze what are the highest costs and always work on their optimization. This report summarizes 4 biggest expense categories and the rest of the expenses as the “other”.

Cash Burn Report
having all the inputs in the cash flow statement, it is a benefit to have the cash burn rate calculated

Valuation
You will receive all the data necessary for the investors. The weighted average cost of capital shows the minimum return on enterprise funds invested in its activities capital.
Free cash flow is the cash flow available to all investors, including shareholders and creditors.
Discounted cash is the value of future cash flows in relation to the current time.

Loan Amortization Schedule
You can find this in the “Capital” tab, where you can see internal calculations of the loans, interest, and equity.

Break-even point calculation
This indicator is calculated at the beginning of each startup for understanding whether it is appropriate for doing this kind of business. It shows what revenue should be to cover all the costs of doing business, including taxes. When it is reached, the company begins to bring in profits, which means that the investments made in the startup start to pay off.

Works for startups
Creates a financial summary formatted for your pitch deck.

SETTING UP PURPOSES AND FORMING A PLAN

At the very beginning of our cooperation, the level of economic competence my client had surprised me to the upside. Together, we set up expectations and established the main purposes of our cooperation, such as the following:

– to understand, whether the business idea is profitable;
– to calculate overall costs of specialized hospital/clinic launch;
– to calculate expenses on salaries and wages of hospital/clinic workers;
– to calculate expenses on equipment, suppliers, management, education, and advertising;
– to estimate costs of debt and time needed to loan back;
– to calculate an average number of visits within a certain area (population);
– to estimate prices for each procedure;
– to find the main hospital/clinic financial performance indicators;
– to craft an effective strategy for business development.

The model consists of:

– 5-year comprehensive financial projection
– Dashboard with core inputs and core outputs
– Patient base forecast
– Revenue model based on visits
– Flexible Pricing model by years
– Variable and Fixed expenses model
– Wages and staff strength model
– CAPEX additions and depreciation model
– CapTable & Debt Financing and repayment schedule
– Income Statement, Balance Sheet, and Cashflow (direct & indirect) for 5 years
– Valuation of Company – DCF

BENEFITS OF USING BUDGET FORECASTING IN HEALTHCARE

First and foremost, we did not hard-code any assumptions. It is very helpful both for the client and financial modeler, as all the variables could be edited directly on the dashboard or at the expense/wages sections. Thanks to it, we could test different alternatives and make any edits literally on the fly.

Besides it, the action period of budget modeling was editable, just like the currency.

Last but not least, the hospital or clinic valuation model considered the cost and the period of debt to estimate the time needed to meet acquisition costs. In result, the user received a maximally accurate financial statements summary. Thus, our hospital or clinic financial metrics was flexible and editable, what provided the client with great user experience and confidence in the profitability of her business idea.

 

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