Project 2 My Concierge MD MASTER COPY 3 Essay

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ABSTRACT
MY CONCIERGE MD, INC.
A BUSINESS PLAN
By
May 2015

The changing landscape of health care in the United States provides various opportunities for both providers and patients to adapt the way they give and receive their medical services. My Concierge MD, Inc. intends to capitalize on the physician’s desire for more independence and the patient’s need for greater accessibility to health care. By offering retainer medicine at a potentially lower price point than traditional insurance and an attractive suite of innovative services, My Concierge MD seeks to be at the forefront of affordable concierge medicine in the twenty-first century. This business plan will show how My Concierge MD intends on providing superior service and quality, while at the same time being a substantially lucrative company.

MY CONCIERGE MD, INC.

A BUSINESS PLAN
Presented to the Department of
Health Care Administration
California State University, Long Beach

In Partial Fulfillment of the Requirements for the Degree
Master of Science in Health Care Administration

Committee Members:
Grace Reynolds, PhD. (Chair)
Erlyana Erlyana, MD, PhD.
Tony Sinay, PhD.

College Designee:
Tony Sinay, PhD.

B.A., 2007, University of California, Santa Barbara
May 2015
TABLE OF CONTENTS
Page
LIST OF TABLES………………………………………………………………………………………………………… iv
LIST OF FIGURES……………………………………………………………………………………………………… v
LIST OF ABBREVIATIONS……………………………………………………………………………………… vi
CHAPTER
1. MARKET ANALYSIS……………………………………………………………………………… 1
Industry Description and Outlook……………………………… 1 Target Market………………………………………………………………………………… 3 Target Market Size…………………………………………………………………… 6 Pricing and Gross Margin Targets……………………………… 7 Competition and Strategy…………………………………………………… 9 2. FEASIBILITY ANALYSIS………………………………………………………………… 11 Strengths…………………………………………………………………………………………… 11 Weaknesses………………………………………………………………………………………… 12 Opportunities………………………………………………………………………………… 13 Threats………………………………………………………………………………………………… 14 3. LEGAL, TAX, AND ETHICAL ISSUES……………………………………… 16 Legal Issues…………………………………………………………………………………… 16 Tax Considerations…………………………………………………………………… 17 Ethical Issues……………………………………………………………………………… 18 4. FINANCIAL DATA………………………………………………………………………………… 20 Balance Sheet………………………………………………………………………………… 30 Statement of Income and Retained Earnings……… 31 Statement of Cash Flows……………………………………………………… 32
REFERENCES…………………………………………………………………………………………………………………… 34

LIST OF TABLES
TABLE Page
1. Initial Financial Estimates……………………………………………… 20
2. Summary of Financial Data…………………………………………………… 21
3. Break-Even Point Analysis…………………………………………………… 22
4. Financial Projections, 2015 (Months 0-6)…………… 23
5. Financial Projections, 2015 (Months 7-12)………… 24
6. Financial Projections, 2016 (Months 0-6)…………… 25
7. Financial Projections, 2016 (Months 7-12)………… 26
8. Financial Projections, 2017 (Months 0-6)…………… 27
9. Financial Projections, 2017 (Months 7-12)………… 28
10. Financial Projections, 2015-2017………………………………… 29

LIST OF FIGURES
FIGURE Page
1. Monthly cost breakdown…………………………………………………………… 21
2. 36-month financial projections……………………………………… 22

LIST OF ABBREVIATIONS
ACA Affordable Care Act
HHS Health and Human Services

HIPAA Health Insurance Portability and Accountability Act

HSA Health Savings Account

CHAPTER 1
MARKET ANALYSIS
Industry Description and Outlook Since the United States’ implementation of the Affordable Care Act (ACA), the number of Americans with health care coverage has expectedly increased. Individual mandates, employer mandates, and Medicaid expansion combined with the ACA’s emphasis on preventive medicine have, in effect, created a large demand in a market facing shortages of primary care providers. However, various factors of job dissatisfaction such as…