Financial Analysis - Full Service

How Can I make sure my MRI Imaging Center is Profitable?
- Module #3

Data Gathering and the development of a lender quality MRI  Imaging Center Financial and Business Viability Analysis

If you are going to embark on extensive planning, and buildout of an MRI Imaging Center, with costs conservatively ranging from $1.9 million dollars to $2.4 million dollars and more, you will need to know, in advance, if your MRI Imaging Center is going to be profitable!

To assist you in making a determination of future profitability, you need to know  the volume of the MRI scans you should project. And you need to fully understand where they will come from, on an ongoing fairly predictable basis.

If these numbers are not accurate, or the volume cannot be relied upon, then the entire basis of your profitability is called into question.

Will the scan volume be coming from physicians in your medical group practice?

Perhaps from multiple medical groups (block leasing venture)?

Physicians in your medical facility/building or even physicians in your catchment area that you have spoken with?

Are you creating an Independent Testing Facility (IDTF) and will need to project scan volume from definable various sources?

You will need to combine that information on projected MRI scan volume, along with a significant amount of vary specific additional information that we will discuss, to create a definable business plan that we will call the MRI Imaging Center Financial and Business Viability Analysis.

We are very proud of the detailed MRI Imaging Center Financial and Business Viability Analysis that we are able to create with client assistance, and on their behalf.

We create high quality client documents that can be used in working with Project Partners, Banks and all lenders to secure funding for a client’s MRI Imaging Center project. It can also be a crucial asset and benefit to you the client, and when done professionally and with the amount of care it deserves, it can be relied upon by your lender, and help them understand the project return on investment and timeline for doing so.

There are a number key issues to understand in the construction of the MRI Imaging Center Financial and Business Viability Analysis, first and foremost, you must strive for as much honest data gathering and source data accuracy as possible.

You will also be making some amount of assumptions based on experience and lack of current referrals, and those assumptions should be moderately conservative.

It is better if you over-perform, rather than underperform what you have projected in your analysis.

You should also understand this MRI Imaging Center Financial and Business Viability Analysis when initially constructed, may sometimes reveal that you do not have the bottom line profitability that you are looking for. No worries, very good to know in advance. If that is what occurs, before you go too far into your project , you will want to make some adjustments in how you put your MRI Imaging Center project together. On the scan volume side (revenue), that can mean bringing in more producing physicians or referring Physician Assistants , casting a bigger net, or it can mean adjusting your financing terms, and or, reducing your expenses in a vast array of areas. We can and have made positive and successful recommendations for our clients that have made the difference in the creation and success of their MRI Imaging Center Financial and Business Viability Analysis, and in the full success of their MRI Imaging Center.

In the creation of the MRI Imaging Center Financial and Business Viability Analysis, we must delve into a significant amount of data gathering necessary to ensure the success of your MRI Imaging Center project and the Analysis. With your assistance, we analyze your market, your resources, various internal data that you can provide, and use our experience and in depth specific market review, to generate the performance metrics we need to know, and to have the data tell us and you, how your MRI Imaging Center business can be expected to perform financially. In the creation of the MRI Imaging Center Financial and Business Viability Analysis, we are all about helping you to determine and accurately project, what your bottom line profitability, annually, and on a six year basis, will look like.

In the creation of the MRI Imaging Center Financial and Business Viability Analysis we will work with you to determine Annual and Multiyear; Patient scan volume, Average Reimbursement per MRI scan based on a Weighted and Blended Average of all clinical Scan Types (CPT codes), with many different payer sources; Commercial, Governmental and Self Pay patients.

Based on our experience, gathering of updated information, and successful negotiations with MRI manufacturers and suppliers, we also project probable best case scenario for the price of equipment, new or refurbished, leased, or purchased, including early buy out options.

In the creation of your MRI Imaging Center Financial and Business Viability Analysis, we work with updated and current Architect and builder cost data for your specific community and will determine the projected building site leasing and buildout costs for your specific MRI Imaging Center service location. We determine annual equipment maintenance and service costs based on equipment that you are interested in.

We are able to very closely determine in all markets, the expenses related to teleradiology radiologist interpretation fees, scan supply expenses, and MRI technologist and personnel expenses. With your assistance, We will be able to assist you in projecting , over an annual and six year period, your MRI revenue, expenses, profit and loss amounts, and your resulting projected net revenue for each year of  operations. That is the essence of development of your MRI Imaging Center Financial and Business Viability Analysis, and we do it very well!

When you request that we create your MRI Imaging Center Financial and Business Viability Analysis, you will have a solid way finding document and guide, that will assist you in potentially avoiding failure in the development of your MRI Imaging Center project. A high quality Financial and Business Viability Analysis, can help to ensure your MRI Imaging project will be profitable and successful. If your initial MRI Financial and Business Viability Analysis does not project adequate profitability, we will assist you in the incorporation of some specific recommended MRI project revisions and strategy implementations in order to move to projected profitability.

If you want to know what you need to know in order to be certain that you can have a successful and profitable MRI Imaging Center Project, our MRI Imaging Center Financial and Business Viability Analysis is the best expenditure that you can make.

In our experience having a well-constructed MRI Imaging Center Financial and Business Viability Analysis, has resulted in improved loan terms, and improved lending rates, with the lenders for our clients.

In this Consultation and Assistance Module we will address

• Why this MRI Imaging Center Financial and Business Viability Analysis is important and even vitally necessary.
• What does it mean when we refer to “Lender Quality," Financial and Business Viability Analysis, what should that include?
• Where you are currently in the process for your MRI Project?
• What are the basics of putting the data together for the Analysis?
• Projected Revenue numbers and Projected Expense Numbers, what  we need to know in both categories, and how will we obtain that information.
• What Metrics/Information do you know for sure now, what metrics will you need to know, what information do you need to gather to create an accurate Financial and Business Viability Analysis?
• What should a reasonably successful Profit/Net Revenue (Revenue minus Expenses) number look like and how would that be determined?
• What are the reasonable Assumptions that you can make, will need to make, in the calculations and data sheet construction for the MRI Imaging Center? How will those business assumptions be determined?
• What is a reasonable ratio of revenue to expenses, for a potentially successful MRI Imaging Center?
• What other possible Appendix to the MRI Imaging Center Financial and Business Viability Analysis should be included when providing this financial analysis to your Lenders?