Practice Setup, we create clear, strategic Pro Forma financial statements to help physicians understand how a new practice can perform over its first three years. These projections outline best‑case, worst‑case, and most‑likely scenarios so you can plan with confidence.
What’s Included
Net Income (Profit & Loss) Statement: Breaks down revenue and expenses to show profitability and highlight key drivers or financial challenges.
Cash Flow Statement: Projects how cash moves in and out of the practice—critical for managing reimbursement delays from Medicare, Medicaid, and insurers.
Balance Sheet: Provides a snapshot of assets, liabilities, and overall financial strength at any point in time.
Retained Earnings: Shows how much income stays in the business (often minimal for startups).
Our CFO prepares all Pro Forma statements and supports ongoing financial planning as your practice grows.
Construction is the largest expense when developing a new medical facility, and long‑term loan payments can significantly impact ongoing costs. It’s essential to understand how your building plans affect both short‑ and long‑term financial goals, ensuring the facility isn’t oversized or financially draining.
Practice Setup guides physicians through this complex process with experienced bankers and financial analysts. Whether working with major lenders like Bank of America or Wells Fargo, local banks, or SBA options, our team manages the financing steps so you can focus on growing your practice—not navigating paperwork.
Finding your office can be a daunting task. The real estate professionals procured by Practice Setup Team specialize in physician start-up offices and re-location services. Choosing the right location at the right price with the right terms should be left to the experts who know how to not only negotiate the terms, but understand medical requirements, construction, parking needs and local zoning ordinances. They will also work with the team architect to ensure your choice will not be “too big or too small” and will fit your future needs.
Based on an evaluation of your needs and budgetary requirements, our brokers produce three to five prime sites in your target areas—containing information on traffic counts, photos, locations of competitors, environmental reports and details on leases and/or purchase options. Experience is the key.
Choosing a General Contractor (GC) is the next step after the architect provides the plans. Practice Setup narrows the selection to two-three GCs and works with the chosen GC to manage the project from start to finish.
At Practice Setup, we suggest each physician begin the credentialing process at the very start of the project as it takes months. Our team will begin to do the following to ensure that the physician is ready when the time comes to open the doors for business.
Gathering information about a doctor’s background and qualifications through a formal application process as an address and phone number are requirements
Checking the background information for completeness and accuracy against reliable sources, including the National Practitioner Data Bank and the American Board of Medical Specialties
The process of choosing a physician has changed. People now pick doctors after extensive research on the internet, via word of mouth, or from direct recommendation from their primary care physician. People are willing to travel to get the best care possible.
Practice Setup identifies marketing professionals that understand SEO (Search Engine Optimization), social media, and grass roots marketing-all necessary to start and build a successful medical practice. Your brand awareness will increase dramatically with a brand that resonates through your logo, business cards, brochures, advertising, press releases, and media exposure- all hallmarks of a good marketing campaign.
Outsourcing the non-productive parts of your practice is one of the tenets of a good business plan. Practice Setup believes that payroll, human resources, benefit administration, legal compliance and workers compensation are all functions that work best when handled by professionals that focus on these components. The physician can concentrate on customer care.
Whether your revenue cycle management consists of a conventional in-house billing system or a third-party web-based medical billing company, Practice Setup helps you diagnose the best alternative to achieve increased levels of income. We understand the dynamics of making informed choices in billing, coding and collections. Putting these processes in place will set you up for a successful practice.
Medical equipment that encompasses the needs of your specialty and facility is essential to your practice. The top three national medical equipment supply houses provide an inventory of what your location needs-from band aids to MRI machines. With on-line ordering and personalized door-to-door service, your practice will have the advantage of their expert guidance and turnkey solutions that will meet your budget.
Your office furniture is your environment and should reflect the personality of your practice. Practice Setup takes the time to get to know each client personally and then matches them with a national furniture provider. The design team researches the best designs to provide an office that is both healing and productive.
Often, a physician will recruit staff from their previous employment and start their new practice with those individuals. When a practice needs additional staffing, Practice Setup will research the local market for talent, pre-screen resumes and set up interviews. Qualified candidates are quickly identified to meet the job functionalities of the provider. The difference between under or over staffing an office can determine the profitability of your business.
Our CFO partners with you to build detailed financial projections, monitor performance, and support the financial health of your practice at every stage of growth.
