Medical Tourism Excel Financial Model Template
Medical Tourism Excel financial model template developed for the saas based startup that will hold health care provider’s data across the world so that any patient can easily access the list of health care providers.
The concept of “medical tourism” is very well known in U.S., U.K., and Europe. It refers to traveling to another country for medical care. Many people who travel for care do so because treatment is much cheaper in another country.
My client came up with this unique idea of providing the role of intermediary between patients and health care providers. The client wanted to develop a saas based application that will hold data of health care providers across the world so that any patient can easily access the list of health care providers to address their particular health problem. Therefore, he needed to get real medical tourism financial projection.
The client wanted to assess the financial viability of this idea and asked us to build a medical tourism financial model that can provide the basic framework for building the complete business plan.
Understanding the financial outcome of the business idea beforehand is of utmost importance as the pro-forma results can be compared with the industry standards to assess the future profitability of the business.
The client needed a flexible medical tourism financial model that could incorporate any changes in the core assumptions.
The client also wanted us to develop a comprehensive financial projection that included KPIs and metrics.
Entrepreneurs need to have the best possible resources to help them plan and launch their business. Not only is an entrepreneur’s time limited and valued, resources can be too.
With our services, we provide easy-to-understand, easy-to-use projections, helping businesses save time and financial resources.
We have built the finest business planning tool for the client. The business idea that the client came up with was an online marketplace based business, as the client wanted to use the web application as a major source of revenue.
The business to consumer (B2C) model will be a one-time service.
While the business to business (B2B) model will be based on a monthly billing process with different prices depending on the type of ownership structure, such as clinic, hospital, and sole practitioner.
We prepared a comprehensive financial model for the client that included all the desired outcomes. The medical tourism financial projection was developed in an Excel spreadsheet and it included an Excel dashboard that presented the financials summary of the whole model.
This medical tourism financial model included easy-to-navigate and easy-to-change assumptions.
The financial model included:
- detailed capital expenditure and depreciation calculations,
- capitalization summary table and investor return summary,
- key metrics reports,
- Summary report which is ideal for a pitch deck, and
- Pro-forma of Income Statement, Balance Sheet, and Cash Flow.
MEDICAL TOURISM FINANCIAL MODEL DESCRIPTION
The dashboard is a cornerstone report for the customer with key performance indicators that were used while building this financial model.
Here you can find the main revenue variables:
- doctor subscriptions fees,
- patient referral fees, and
- hospital and insurance companies,
In addition to assumptions, the dashboard has informative charts with relevant indicators and core financials.
Top 5 Revenue tab includes assumptions about the top five revenue categories, charts with information about:
- revenue depth,
- monthly run-rate, and
- revenue bridge.
We illustrated this data for better visual perception and ability to compare.
This financial model includes the following revenue sources:
- doctor subscriptions fees;
- patient referral fees;
- hospital and insurance companies.
The model user can easily analyze changes in revenue, experimenting with the value of a particular assumption. Say, by changing the doctor subscriptions fees assumption at the dashboard you’ll see immediate impact on Revenue.
The tab with the top five expenses categories includes assumptions about its value during next four years and charts that show the share of each category in total cost, expenses depth, and expenses bridge.
Top 5 expenditure items in the financial model of medical tourism are:
- sales commission;
- Google advertising;
- chief executive officer;
- chief technical officer;
- head of marketing;
We produced detailed reports for the client with analysis by month that includes Balance Sheet, Income Statement, and Cash Flow Statement. Also, we prepared a shortened version of reports that is displayed on a Summary Sheet. It should be noted that the level of detail could be changed for each report if it’s necessary.
To summarize, the financial model for the medical tourism business idea was built with maximum flexibility for analyzing results while changing output data.
This opportunity should help the client make relevant assumptions and important decisions easily.