Doctors are facing stiffer competition and more stringent requirements as they look to develop and implement increasingly complex and expensive programs and technologies. A business plan can help to demonstrate their grasp on the programs they are looking to establish and the seriousness of their commitment to a project, and Wise Business Plans is stepping in to assist.
"For a doctor, a business plan really serves as a strategic document," said Joseph Ferriolo, director of Wise, which creates custom business plans for a vast range of clients. "It can serve as a guide toward integrating a new technology or treatment into a medical practice, or it can lay out the steps needed to begin a new kind of therapy program."
There are few limits to the utility of a business plan when used as a roadmap for reaching an established goal, he said.
"A plan can serve as the framework for reaching any kind of ending point, so it's useful in a setting like the medical field, where detail can be life or death."
Market analysis — a critical part of any plan — is especially useful to doctors, he said.
"Demographics are something most physicians are very familiar with, and using them as part of your planning process can make a new program or technology more effective," he said. "And Wise uses the most cutting edge demographics and market data available."
Whether doctors are planning to offer a new service or adapting a program to fit a changing market demographic, a business plan can help ensure a good outcome, he said.
"Think of a business plan the way you would a treatment plan; both are strategies for reaching success, and both must be meticulous and detailed. But with a strong plan, your program or practice can grow and thrive."
Wise Business Plans (wisebusinessplans.com), staffed with professional MBA writers, researchers and financial experts, is a trusted partner for businesses across a broad spectrum of products and services. Our mission is to empower our clients to make the best possible business decisions, boost company performance and facilitate their funding success by laying the groundwork for strong businesses that excite, inspire and retain talented and exceptional employees.