Internal Medicine Prime Care | Application Preview
Internal Medicine Prime Care is seeking government grant funding to enhance its operations and improve patient care. The funds will be allocated for essential medical equipment and services, including a hematology analyzer, medical training, hiring a phlebotomist, and a marketing campaign. The total requested amount includes costs for various lab equipment and personnel, stressing that the overall aim is to establish an in-house lab, which would increase the practice's attractiveness.
The owner, a physician with 22 years of experience in the county, notes that many patients are unaware he has not retired. To address this, he plans to launch a marketing campaign to draw both old and new patients. Additionally, the practice is expanding its insurance partnerships and collaborating with a local Physician Assistant school for intern training.
The application emphasizes the owner’s commitment to quality care and his investment in the practice, funded entirely through personal savings, including a 401k. He highlights the practice's dedicated approach in contrast to competitors like Conviva, which he left due to disagreements over their operations and care quality. Despite facing challenges related to a non-compete agreement that limits patient credentialing with certain programs, the practice benefits from patient overflow from competitors.
The competitive edge of Internal Medicine Prime Care lies in its welcoming environment and the personal touch of a family-run operation. The relationship between the physician and his daughter, who manages the office, fosters a supportive atmosphere that patients appreciate. With a focus on empathy and genuine care, the owner believes that this distinct approach, paired with an efficient referral network, sets the practice apart in a competitive healthcare landscape. The funding will support the growth and enhancement of these values in patient care.
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General Information
Business Registration Number: L21000034209
Location: Lake Worth, FL, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: $100k to $250k
Open to Loans: YES
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Funding Usage
Chair Scale $1,662.71, AED $3200, Stretcher $2928, The next items includes what we need to draw labs in the office: Hematology Analyzer XP-300™ CLIA Moderate Complexity $12,857.14, Analyzer Oil Pack CellaVision® 2 X 150 mL, Light Yellow, Liquid Form, Weak Smell, >165°C Flash Point, 0.10 kPa Vapour Pressure, 1 Vapour Density, 0.9 kg/L Relative Density, 300 cSt Viscosity, 340°C Boiling Point $245.36, Medicus Onsite Training $4285.71, DEVELOPMENT & SETUP, MEDICUS INTERFACE D/S $1912.86, Hematology Control Eightcheck-3WP/X-Tra™ 24 mL $91.16, Hire phlebotomist/nurse $39,000. Average physician salary is $190,000, The rest would be used toward a marketing campaign.
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Business Plan
I have been a physician in this county for 22 years and a lot of my patients think that I have retired. I need to run a marketing campaign to attract old and new patients. Having our own lab in the office would make us a more desirable practice. We are adding more insurance plans to expand our exposure and remain competitive in the market. We have partnered with a local Physician Assistant school to teach new interns and have monetary gain to help offset a slower season. We partnered with an MSO that will help bring in new advantage program patients in which we are capitated a flat monthly fee per member/per month. This practice is owned by a passionate physician and operated by his daughter. Fully committed to provide our community with real deal quality care. We are changing the lives of many and very proud of it. I made a mistake and did not get a SBA loan to start. I am 100% invested 401k and life earnings in making this medical practice stand out amongst the rest. I want to bring back quality, empathy, genuine care to our community and beyond. I am asking you the investor to give us the opportunity of a lifetime and help us grow in the right direction. We are almost 2 years old and starting to see light at the end of the tunnel. The only thing keeping us from lifting off is financial constraints.
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Self Identified Competition
I worked for Conviva prior to starting my own business. I disagreed with their contract and was laid off because of it. I am still suffering the consequences detailed in the non-compete. Most of my patients were part of a Humana Advantage program. Humana owns Conviva and I cannot seem to get credential with Humana Advantage programs. I think Conviva has the monetary gain but lacks compassion in caring for their patients due to time constraints and revolving door in multitudes making quality care a very competitive advantage. Soma is growing at a fast rate, and luckily for us we get the overflow of patients that are looking for quality care and not so many bells and whistles. We currently have the advantage of an open schedule vs. Soma having a 3 month wait period. Our office is warm and inviting. It is operated by a well-rounded experienced physician; non-medical personnel and our patients can tell the difference immediately. We are here because we want to be and that Physician/Father & Office Manager/Daughter bond at work is unmatched. To say we go over and beyond is truly an understatement. We love our patients, what we do, and how we get it done. We strive for that old fashioned medical office next door feel. I know the best specialist and facilities in town making referrals a pleasant experience.
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Contact Applicant
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