Building a medical transport business involves a variety of elements that may seem complicated; however, when untangled and positioned into different key categories, the end result is a comprehensive plan to start and grow a successful medical transport business. In this article, we will define each key element to start your medical transport business and continue building it into a profitable and long-term growth company.
Key Element: Defining the Customers
As simple as this may sound, determining who the customers of your medical transport business may be can bring a complicated answer. For example, customers may include those who have medical or cognitive impairment, those who require assistance during appointments, or clients who don’t drive at night. In addition, clients often travel with a family member or a caregiver, who may assist during travel. A primary question in this key element is, “Who is paying for the medical transport services?” Often, the client is not paying, but an insurance company, assisted living facility, or other entity is ordering paying for the service. Your customers may be, as a result, either the primary or a secondary payee for the service.
Determine your clients by targeting area hospitals, assisted living facilities, group homes, or private homes, to determine the majority of your clients. You will want to target all care facilities to ensure business comes your way. If the clients are the primary clients, you will target them or their caregivers as potential customers.
Key Element: Defining the Competition
During the process of researching your client base, you’ll want to also consider your competitors within the medical transport industry. Direct competitors may include other non-emergency transport companies and emergency service vehicles, while indirect competitors may include private cars with drivers. Research these companies to determine the prices charged for transport, the audience of their service, and any unique offerings provided. With this information, you can select the ways in which your business will surpass the services of your competitors.
Key Element: Services Provided for Customers
Based on the demographics of your customers, you’ll want to build a reasonable projection of the services to be offered via your medical transport business. For example, the following services may or may not be included, based on your target customer:
Single-transport patients recently discharged from the hospital.
Non-emergency medical transport for clients to and from medical visits.
Outpatient client requiring round-trip transportation.
Routine transport to events as hired by family or caregivers.
Specific designations for the services of the medical transport business will clearly define the parameters of the services that can be provided. With the list of services to be provided, further fields can be included, such as costs per direction or per mile, additional fees for attendant service, single-transport charges versus round-trip and other related charges and fees.
Key Element: Building a Complete Business Plan
After defining the customers for your medical transport services and determining the services to offer, it is important to build a comprehensive business plan for the company. This is because a business plan outlines everything about the business, providing a roadmap for all. Also, the business plan can be presented to lenders or investors for pre-launch or initial funding of the company. As such, business plans are critically important to reach the goal of building a medical transport business. If you do not yet have a business plan, use this medical transport business plan as a comprehensive guide for your business.
Within the business plan, the financial projections, marketing strategies, goals and mission of the company, operational plans, and other elements will be included. This becomes the roadmap for a successful business that can be updated as needed along the way.
Key Element: Defining Marketing Strategies
Although word-of-mouth may be one of the best strategies for building your medical transport business, there are additional ways you can encourage clients and their caregivers or facilities managers to reach out to your business. First, you’ll want to compile an email list of potential clients and send email updates or email notes of interest to current and potential clients. This ensures your clients see the name of your company often and will refer back to the emails. Second, use social media to attract the attention of your company. Family members and caregivers can receive text messages about special discounts or services offered. Finally, use a local newspaper to place ads for your medical transport business, as newspapers are often found in hospitals and assisted living facilities.
The mechanics of starting your own medical transport business aren’t complicated; however, they will take a bit of time and attention. When ready, you’ll be rewarded by the completed business plan and roadmap you’ve created to take your medical transport business toward years of long-term growth and success.
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