HA 499 Unit 2 Hughes

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School

Kaplan University *

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Course

499

Subject

Health Science

Date

May 8, 2024

Type

pptx

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15

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Dental Office Business Plan Dillon Hughes HA 499 Unit 2 01 Apr 2024
Introduction • To secure funding of $500,000 for a 4,000 -square- foot office building. With 12 operatories and a three - chair orthodontic suit. • Staffing: 2 dentists, 4 hygienists, 5 dental assistants, 4 front office staff. • Specialty services: Providing Oral Surgery and Orthodontic services. • Have room to expand to 3 dentists and 5 hygienists.
Estimated Revenue, Expenses and ROI • Estimated Revenue: Year 1: $1.8 Million, Year 2: $2.5 Million and Year 3: $3.6 Million. • Expenses: Year 1: $1.5 Million, Year 2: $1.75 and Year 3: $2 Million. • ROI: Year 1: 20%, Year 2: 42% and Year 3: 80%.
Potential Problems • Attracting new patients(n.d.). • Staffing issues since COVID(n.d.). • Partnerships with specialty services. • Determining what insurances to be in network with. • Age and health of local demographics.
Solutions • Provide a fun and authentic environment for patients of all ages that makes them want to come back. Provide promotions and referral programs(n.d.). • Making sure that we are hiring staff that fit into the company’s culture, have a strong track record of success, and are well compensated(n.d.). • Find partners to provide specialty care for our patients, allowing us to provide more comprehensive care for our patients within one location. Provide these specialists, 60% of collections, and have their teams handle insurance and payments and we just provide the patient base.
Solutions Continued • For the first one to three years, be in network with all PPO plans and either Medicaid or Medicare. Somewhere between years three and five, once the patient base is formed, begin to go out of network with low-paying insurance companies and Medicaid or Medicare. • Knowing that we are in one of the healthiest counties within the state, with an age demographic of 18-45, we focus on hygiene and preventative care. This way, building the trust of our patients and then capitalizing on treatment from there.
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