Software Financial Model: Improving Health Care with Shared Medical Appointments
Financial Model built to forecast outcomes from Improving Healthcare with shared-appointments software designer to bring enhancement to the patient-to-doctor access mechanism.
Healthcare providers all over the world are constantly in search for new and improved methods of providing high quality care to patients. With the intention of providing the best healthcare facilities in mind, many physicians in the healthcare industry now offer a new opportunity to patients in the form of shared medical appointments (SMAs). This shared-appointments strategy is designed to bring improvement to the patient-to-doctor access mechanism.
Through this approach, a group of patients can get an all-inclusive healthcare service from doctors for any continuing disease or health care need. In this new SMA approach, a person who is specially trained in providing healthcare education and awareness, or facilitation of patient interaction with a doctor, provides guidance to patients regarding their particular health issues. It also involves a physician who prescribes the required medication to patients. SMAs deal in providing an advanced, collaborative approach to healthcare problems, which helps connect patients with shared health problems with one or more physicians.
Shared appointments can address the hurdles encountered in the traditional one-on-one office visit: time constraints, other comorbidity medical conditions, and lack of education resources, to name a few.
With this in mind, one of our clients came up with a unique idea to take the SMA approach to an online platform. The client wanted to leverage the latest online group technologies to provide an intuitive messaging platform for providers and patients. In this regard, the client wanted to develop a system that utilizes the latest technology to provide many features to patients. Features will include platform security and a proprietary smart filtering technology to help warn users of sensitive information that may be group shared. Also, this would allow patients to make certain they want to share that information with their group.
First of all, the client wanted us to analyze this business idea. Then he asked us to develop a strong financial case for its implementation and bringing it to reality. Moreover, the client wanted us to calculate the amount of initial investment required for this idea, as well provide a complete breakdown of fixed and variable costs that will be incurred. And finally, the client wanted to know the payback period of the initial investment and the time the business starts generating profits.
FINANCIAL SOLUTION FOR SOFTWARE FINANCIAL MODEL
We developed a comprehensive financial model for the client that encompassed all the scenarios envisaged by the client. A financial model particularly is meant to provide a complete picture of the future outcomes based on a what-if analysis. With all the client’s requirements in mind, the financial model that we developed included the following tabs.
A very detailed dashboard was prepared, including the major revenue and expenditure heads, startup costs, and core financial data.
A capitalization table was included in the financial model that showed the complete breakdown of equity.
We also included the valuation tab in this model. It provided the value of the business based on the present value of future free cash flows.
This financial model will serve as a baseline for all the client’s future financial decision-making needs. So if you need more information about financial models, or you want to create one for your business, please contact us or leave your question in comments.
Originally published at new.finmodelslab.com.