Business Plan for Durable Medical Equipment by Mary Jane - Updated September 26, A business plan is required for all owners of new businesses, including those who wish to work with durable medical equipment.
The business plan is a large plan that shows the desired direction of the business and suggests marketing and production methods that will allow the business to reach short-term and long-term objectives. Although the business plan is written during the business start-up phase, it can be revised when necessary.
Business Profile and History The business plan must include a basic business history and profile, so the reader knows what type of business it is. Explain whether the business will provide durable medical equipment directly to end users or whether it will act as a supplier for smaller businesses or local stores.
The profile must also explain whether the products sold are covered by insurance plans such as Medicare. Provide information about the owner and the general purpose of the medical equipment business, along with any partners with whom the business plans to collaborate.
Product Line The business plan must also provide a list of products or services the business will offer. These include iron lungs, catheters, nebulizers, wheelchairs and medical equipment making living at home easier for patients.
Equipment includes medical blood monitors or heart rate monitors. Detailed business plans include prices, sizes and measurements. Video of the Day Brought to you by Techwalla Brought to you by Techwalla Industry Needs and Competitors Part of the business planning is determining the direct need for the durable medical equipment on the market and analyzing competitors who are offering similar or identical products.
The industry needs and market potential must be examined and discussed in the business plan, in case investors or shareholders are interested in the business. The market potential also reveals the expected or potential revenue for the business.
In this regard, the company must develop marketing strategies or methods that differ from those of the competitors. Financial Information and Planning A solid business plan must also include a breakdown of the financial information of the durable medical equipment company.
The financial information includes an operational budget that shows the cash flow of the business by identifying the expenses and sales of medical equipment.
This section also includes short-term and long-term financial objectives, such as increasing sales growth targets and expanding the existing product line of durable medical equipment. References Medical Supplies and Equipment Co: She holds a Master of Arts in psychology of language use from the University of Copenhagen in Denmark.
Cite this Article A tool to create a citation to reference this article Cite this Article.Zenergy Medical Industries medical equipment - supplies business plan company summary. Zenergy Medical Industries will sell therapy systems for residents of Homecare and Assisted Living Facilities with X disease.
Their contracted clinician/salepeople will establish ongoing relationships. Zenergy Medical Industries will sell therapy systems for residents of Homecare and Assisted Living Facilities with X disease.
Their contracted clinician/salepeople will establish ongoing relationships with the patients and the facilities. Edit this medical equipment - supplies business plan .
A business plan is required for all owners of new businesses, including those who wish to work with durable medical equipment. The business plan is a large plan that shows the desired direction of the business and suggests marketing and production methods that will allow the business to reach short-term and long-term.
There will always be a need for medical equipment, so starting a business supplying it can be a great idea. An even better idea is writing a business plan!
Here are some sample business plans for medical equipment businesses to get you started. Free Medical Equipment Distributor Business Plan For Raising Capital from Investors, Banks, or Grant Companies!
Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below. From our cost analysis above, it will cost $13, to start a small scale medical supplies business and $, to start a medium scale medical supplies business, and a whooping $, to start a large scale medical supplies business.