Creating a Business Plan for your Obesity Program
Creating a business plan will help you develop a blueprint for establishing your program and can help you organize your thoughts and focus your efforts. It is also a crucial component if you are seeking investment opportunities or partnerships. It can be used for creating proposals for your employer or health system as well.
Starting a new clinic or program may feel overwhelming, but the creation of a business plan can allow you to focus on one thing at a time. Remember that your business plan can be fluid and will likely change as you develop your program.
This is a sample outline of components of a business plan for an obesity medicine clinic and includes many of the factors to consider. This is not a complete list, and not all these items will apply to every clinic or program. You can customize it to your needs and goals.
A. Executive Summary: This is a high-level view of your business that summarizes your business plan. Define the scope of the problem and the services you will offer as a solution, as well as the viability of your operations. You will want to identify what distinguishes your business from current offerings.
B. Company Description: Include:
Your vision
Your mission statement
Your objectives
C. Market Research and Growth Potential: Analyze the needs for your services in your area. www.census.gov can provide you with information about your community. Know who your competition is and find ways to differentiate yourself. How quickly are you projecting your growth, and what are you basing that on? Set goals based on your growth projection so you can evaluate where you are compared to your goals and projections and change course if needed. Continually evaluate and adjust your best practices.
D. Ownership, Equity, Incorporate, Trademarking, and Website: Determine whether you will be an independent contractor (1099), a sole proprietor, a C-Corp, an S-Corp, or an LLC. Speaking with a tax accountant may help you determine which structure best suits your need. Know your state laws about practice ownership and consult legal counsel when needed. Other items you will need include:
A name for your company as well as for your practice. You will want to Trademark your name. You can do a trademark search at https://www.uspto.gov/.
A website and a domain name. Make sure your domain name is available by checking www.Bluehost.com , www.GoDaddy.com , or other domain buying services. You may need to purchase a domain if it already exists but is not being used. Determine whether you will develop and manage your website yourself, or have an in-house employee manage the website, or whether you choose to hire a third party to manage your website and your online presence (which can include social media as well). Web building has become extremely user-friendly, so before you invest in a third party, consider trying it yourself first.
A logo and a brand. You’ll want to think about the colors and fonts for your brand, and what they communicate about your services.
E. Product and Services: Which services will you offer? How will those services be structured? How will these services be reimbursed? Will you incorporate other professionals such as dietitians, exercise physiologists, mental health specialists, or health coaches? Will you offer group visits/ SMAs, remote patient monitoring, or telemedicine? There are many options on how to structure obesity medicine programs and which services to include.
Include the frequency of visits and length of visits. Include whether you plan to operate as a cash-based business, insurance-based business, or perhaps a combination of both. Here are some other choices you may find yourself considering:
F. Management and Organization Outline your organization’s structure from ownership to management and staff. Create an office culture you are proud of. For each position you develop, create a description of the roles and responsibilities for each position and individual. Again, this can be fluid and may change over time. When changes are made, be sure to have an effective method of communicating changes with your team. I highly recommend having regular team meetings with the entire staff to celebrate successes and deliver praise, and to troubleshoot any potential problems.
Have a plan for employee training, including obesity sensitivity training, office policies and procedures, racial discrimination and sexual harassment policies, HIPAA policies, and any other policies you deem important for your clinic.
Develop professional contracts and agreements and determine benefits. Consider confidentiality agreements, non-competition agreements, and termination policies. Create an employee handbook which clearly states these policies and procedures.
G. Financials: Determine costs, including overhead costs, start-up costs, ongoing costs, and anticipated future costs. Develop a projection for revenue. Include profit and loss statements. The financials will depend on how to intend to structure your program and which services you will include, how you price your services, and how you will be reimbursed for your services.
H. Marketing Plan:
Who is your target audience and how will you promote your services?
Will you focus on referrals, or direct to consumer marketing?
What is your marketing budget?
Will you be marketing online or print?
What is your retention plan?
What are the unique features of your program and how do you compare to your competition?
How will you obtain feedback and how will you use this to optimize your program?
What type of online or social media presence will you have and who will manage this?
Do you have a branding strategy?
I. Growth Plan and Growth Projections:
Do you already have a patient base, or are you starting from zero?
How do you plan to expand as your program grows, and at what point will you require additional resources, such as additional providers or staff?
How quickly do you anticipate your growth, and what are your projections based on?
J. Operational Plan:
What will your day-to-day look like?
What will your protocols look like for new patients and for follow-ups?
How long will the visits be?
Do you have your EMR templates and patient paperwork and questionnaires?
What will be discussed at each visit, and who will perform which parts of the visit?
Does your clinic have a specific nutritional plan or philosophy? Is this consistent throughout your practice and with all the clinicians?
Does your office create a safe and welcoming atmosphere for patients with obesity?
I recommend having a telephone script of the front office, as well as developing a document of frequently asked questions for the front and back office.
K. Conclusion: Conclude with a convincing statement delineating why you are creating this business and the impact it will make. Summarize your main take-aways.
L. Appendices: Optional. May include pertinent resources and references that support components of your business plan. May include CVs of leaders of your organization.
For more resources and support for starting or optimizing an obesity medicine program or clinic, including the newly-release book “Developing an Obesity Management Program; the Healthcare Provider’s Roadmap” visit www.gaininghealth.com. You will also find a modifiable, customizable forms and templates, including a template for a Business Plan at https://www.gaininghealth.com/productsandservices. Subscribe to the website to stay up to date on our latest products and services.