Essays.club - Get Free Essays and Term Papers
Search

Home Business in Medical Transcription - Business Plan Created

Autor:   •  March 12, 2018  •  3,003 Words (13 Pages)  •  61 Views

Page 1 of 13

...

Manufacturing

Manufacturing documentary in legal forms for court purposes, and Medicaid/Medicare approved. There is a back file for any lost files which produces a computer storage filling of records. My transportation of materials as finished products will be transmitted via Internet.

Management

My background experience will make this business a success. I am a BA graduate in Healthcare Administration, with an associates in Medical Transcription, along with numbers other Associates and university studies. I have taken management courses with emphasis on health care.

As I have wanted this business (MT) to become a reality for me, with other work-at-home employees, who can toward certification as per interest. My employees or job description will clearly define their responsibilities, skills within a working management business team, as we collaborate with physicians, contract securities and business operations flow in within time periods. We are working to save business dollars and medical cost for patients as well as secure and safe documentation with integrity and competence.

My partnership with another will relate to computer programming for secure access and use ability. Use of Online Banking for security benefits and saving on paper. Login will consist of working hours and time paid by hourly wages, which the healthcare organization will pay us on a bi-weekly bases.

Preferred to hire college students who are capable of typing 60 words per minute, with great attention to detailed dictation. Employees incentives will come within a 30 day probation period, as then an employee evaluation will assess any needed job improvements and a rise in salary with another one on a yearly bases.

Since some outsourcing is acceptable in our line of business, we will follow closing to their handbook for contractual agreements and any legalities.

Financial Management

With added patients, providers within our contracts, gives us the need for our services in transcription. We listen to voice recordings that physicians make and convert them into a well written report; as we will be editing, and reviewing speech recognition and interpreting the terminology and abbreviations as we prepare patient’s medical histories, discharge summaries, and other documents per request or order.

As I will be the sole operations of the business, I will be doing the payroll, determining wages, scheduling and making the financial management aspects of the business work for profitability and sustainability.

As mentioned by the Bureau of Labor Statistics, the medium wage is $36,000 per year (BLS, 2015).

Year 1

Year 2

Year 3

Me - Owner

$36,000

$36,000

$36,000

Part-time Employee

$4,200

$25,200

$23,000

Full time Employee

$23,100

$25,200

$23,000

Total Payroll

$63,300

$86,400

$82,000

Start-up Funds consist of:

Expense Fund

$400

Assets Fund

$29,600

Total funds required

$30,000

Assets:

Non Start-up cost

$5,450

Required Start-up cost

$24,150

Additional cash required

$0

Balance on Start Date

$24,150

Total Assets

$29,600

Liabilities and Capital:

Liabilities

Borrowed

$0

Long-Term Liabilities

$0

Accounts Payable

$0

Other Liabilities

$0

Total Liabilities

$0

Capital – Planned Investment

Me – Owner

$30,000

Investors

$0

Others

$0

Additions

$0

Total Planned

$30,000

Adding up to be:

Loss at Start-up Time

($400)

Total Capital and Liabilities

$29,600

Total Funding Required

$30,000

Start-up expense Requirements

Legal

$300

Stationary

$100

Total

...

Download:   txt (25.7 Kb)   pdf (105.4 Kb)   docx (44.9 Kb)  
Continue for 12 more pages »
Only available on Essays.club