Optimal Living Services | Application Preview
Optimal Living Services is applying for government grants to support payroll expenses amidst a growth phase in their operations. With five facilities and various behavioral health programs, the business has been experiencing a steady rate of growth, generating about $20,000 in monthly profit over the past three months. However, delays in insurance reimbursements are impacting cash flow, necessitating external funding to ensure stability in operating costs. The company serves a high-risk population, including clients with substance use and mental health issues, and has established a strong reputation within the community for delivering quality services.
The business anticipates a 20% increase in profit margin next month but needs support to navigate the current financial lag. Issues with Medicaid reimbursements, particularly from Molina, have compounded cash flow challenges; despite these hurdles, Optimal Living Services has managed to break even monthly rather than achieve expected profits.
In terms of competition, the organization believes there are no direct competitors due to the underserved nature of their target population. Their competitive edge lies in strong partnerships with various local agencies and treatment centers, a highly qualified staff, and a commitment to ethical practices. The funding will enable them to bridge the gap in accounts receivable and continue their critical work in the community.
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General Information
Business Registration Number: 831295434
Location: Lexington, KY, United States
Length of Operation: 1.5
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
I plan to use the funding for payroll expenses.
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Business Plan
Currently we 5 facilities, and numerous behavioral health programing in place. Our business is growing at a good rate, and our operating costs are plateauing. There is a lag in reimbursement on insurance payments for our services. The funding will help add security to operating costs while our accounts receivable shows the profit we are expecting. We are making about $20,000 a month in profit, for the past 3 months, however those funds are coming in slower than expected. Our profit margin is expected to increase by another 20% this next month. Our company is serving a high risk population. We serve substances use and mental health clients. We have a positive reputation in the community and stellar programming. Our staff is highly qualified, and we continue to fill our employees caseloads. We survived 2020 despite tremendous adversity and will continue to grow. We need help overcoming the next couple of month while we close the gap in our accounts receivable. Some of the companies that we serve have had their own issues due to 2020. We accept Medicaid, and in particular Molina, who is new to Kentucky, have had internal issues with their system. If it had not been for their issues we would have shown a 20% profit margin all year. Instead because of their issues, we have been breaking even every month.
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Self Identified Competition
I do not believe we have any competitors. We serve such an underserved population, there is a large gap for supply and demand. We have built relationships with treatment center, DCBS, START Team, Drug Court, Alternative Sentencing, Fayette County School System, NECCO, Public Defenders Office, and more. We have been an attraction to these referral sources because we have a high quality team, with a lot of experience, and we are know for providing services that are ethical and practicing with integrity.
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Contact Applicant
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