Medical Transcription Business Plan

Executive Summary

Elite Medical Transcription (EMT) offers high quality, low error rate, medical transcriptions. EMT will concentrate on two market segments: physicians practicing alone and small practices of psychologists. These two market segments are the most reliable consumers of outside transcription services. EMT will also serve other parts of the market, which offer more sporadic service requests.

Through the use of sophisticated software, EMT will provide the accuracy and convenience not yet offered to the medical community in Eugene. Additionally, they will have extensive training requirements for their staff to insure highly qualified transcribers.

These competitive advantages, coupled with a growing market, will allow EMT to quickly gain market penetration. The company will be profitable by month eight and have a solid net profit by year three.

1.1 Objectives

Elite Medical Transcription’s objectives for the first three years of operation include:

• To create a service-based company whose primary goal is exceeding customer’s expectations.
• To increase the number of clients by 20% through superior service.
• To have 45% of our clients become repeat customers.
• To develop a sustainable home-based business, living off of its own cash flow.

1.2 Mission

EMT’s mission is to provide the finest medical transcription service available. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place.