Healthcare professionals who handle life and death situations with panache and confidence, what is the one thing that makes them anxious …it is funding of their hospital venture. This is because a hospital involves enormous costs and sometimes it becomes difficult to self-fund it. If you too are experiencing this problem, read on.

Hospital funding may be a sensitive issue for you, but you must not forget that investors and business people share a symbiosis because each of them needs the other and each mutually benefits from the other. Hence, go ahead and pitch your idea with self-assurance and spark your investors’ interest.

Some things to remember about hospital funding.

1. Make a clear business plan

It is not enough to be sure of success in your mind, it has to have a logical basis on paper too. Formulate your business plan giving estimates of the milestones of your journey ahead with predictions of timelines of when you are expected to breakeven and when you may start getting returns on investment. Investors need to know that your venture will fetch profits in the long run. Be sure to make sales projections and expected profit volume predictions in a timebound way.  Financers can be won over only by hard facts and numbers and not by mere aspirations, promises and ideas. Be sure to keep all your credit records in ship-shape as it can build your investors’ confidence. These include your past credit history, income tax filings etc.

2. Provide a break-up of costs estimate

Investors invest in projects in which they can bank their trust. For this your estimated cost should be crystal clear. Give a detailed break-up about fund utilization plan. If you project transparency, the investors will trust you more. Give a detailed plan about projected costs for numerous sub-heads like site development, medical equipment purchase, architectural development, workforce recruitment, day-to-day operation, marketing and promotion meticulously. This will make investors more secure about your project.

3. Convey your USPs

Be sure to build a story projecting on how your project will be unique and a class apart from your competitors. Ensure that you highlight your team’s strengths, qualifications and reputation as this will spark your investor’s interest in your project. Make a detailed presentation about the track record of your skilled workforce as this will definitely carry a lot of weight

4. Take the help of a reliable hospital consultancy firm

As a busy healthcare professional, you might have a dearth of time to collate all the financial documents needed and develop a top-notch business plan before presenting your idea to your potential investors. If this is the case, you can avail of the services of an experienced healthcare consultancy firm. These consultants not only verify that all your documents are in place, they also help you in the development of your business plan and sales projections. They have a plethora of specialists who use the latest business models and predictive tools to make your plan more credible and achievable. They can help you make a wonderful impression on your potential investors by formulating a custom-made presentation for you and can

be trustworthy partners in your funding quest.

To put in a nutshell, funding a hospital venture can be one of the most challenging tasks when you undertake the work of setting up a hospital. If, as a busy healthcare professional, you feel that you need any aid in this sphere, be sure to consult Hospertz, a reputed Hospital consultancy firm of India which has more than 2 decades of experience in this field and can guide you through this minefield-lined path.

Blog has been written by Dr. Vishal Jadhav, a veteran in the field of hospital consultancy with a rich experience of more than 20 years and founder of the Healthcare Consultancy. Firm, Hospertz.

Dr. Vishal Jadhav, Director
hospertz@gmail.com
+91 9867712705/ 9820833149