Tweet

Small Business Opportunities In The Medical Industry

Written by: Candice Clem

Article Overview: The medical industry has always been one of the most reliable businesses in the face of economic downturn, and when you consider that millions of baby boomers are approaching senior citizen age and will require more healthcare services than ever before, this industry is one of the hottest available markets to get into and this article shows some of the top opportunities available in the healthcare industry.

Small Business Opportunities In The Medical Industry

In an economy that seems to be taking a downturn at the moment, everyone is looking for an industry that isn’t likely to go with it. Though there are probably a variety of markets that are such societal staples that they’ll remain solid regardless of what our national economy does, one of the most stable is the medical industry, because whatever the financial state of the nation, people will inevitably continue to need medical attention: people continue to have children, continue to get injured, and continue to grow old no matter what. In fact, in 2007, the medical industry pulled in an astounding $2.26 trillion, and with steadily increasing needs for both services and staffing, there is no indication that that is going to turn around anytime soon. If breaking into such a market with a work at home small business sounds like the perfect opportunity for you, here are a few options that can get you into the medical profession.

American Business Systems LLC
As sad as it really is, one of the major downfalls of the medical profession as it stands is payment. Part of the reason that medical services are so costly is that doctors and other medical professionals don’t always receive their compensation; in fact, 30% of the time, they don’t. And the other 70% of bill payments aren’t received for 60, 90, or even sometimes 120 days. American Business Systems LLC, however, has developed an online billing system that reduces the number of lost payments to only 2% and gets payment to medical professionals in only a week. The service offered by this home business is both easier and more effective than most systems currently used in the industry, making it a fairly simple sell to clients your territory. All necessary marketing materials are provided, along with comprehensive training, and two years of one-on-one support.

Digicom Specialties
Ultrasound technology is becoming more and more important in the medical field: necessary for everything from pregnancy checkups to gallstones. The problem is the price tag; not every small and mid-sized medical facility can afford to purchase, keep, and maintain their own equipment, even if they frequently use it. That’s precisely why Digicom Specialties exists, providing ultrasound equipment and service rentals to facilities that can’t afford to purchase. The franchisor provides new franchises with complete territory analyses to find the best place to set up shop, exclusive access to manuals and operation materials, special pricing arrangements with equipment providers, scheduled visits from field reps, and much more.

Physicians Weight Loss Centers
For those interested in helping others lose weight that could potentially save, or at least lengthen, their lives, this is the perfect franchise opportunity. Unlike almost every other weight loss facility, this franchise attacks the problem of obesity from a medical perspective, with professional medical staff working to develop the most aggressive and well-planned strategies for weight loss available. Clients can choose between 4 different systems that consist of a total of 75 different products that can be purchased online. That makes sales easier for franchisees and increases the number of products available to clients in a home based business owner’s territory.

Always Best Care Senior Services
In their own words, "caring is at the heart of everything we do." From the very beginning, they demonstrate their caring simply in their relationship with the franchisee, providing 5 days of training at the central headquarters, 3 more days on site at the new franchise location, and ongoing web-training. Once the new franchisee is established, he then passes on the care that he’s received to his new clients, who he helps in one of two ways: either with in-home non-medical care from a licensed care professional, or by assisting them in making the transition to an assisted living facility for the elderly. In both cases, each franchise business is equipped with the company’s "Virtual Office," a computer program that simplifies every aspect of administrating the business, allowing the work at home franchisee more time to focus on the real work.

Though it’s one of the smaller corners of the work from home business world, the medical industry does offer some good business opportunities for those looking to start their own small business. If you’re interested in entering a field that helps people while turning a steady profit, and one that isn’t impacted by economic shifts, this is the industry for you. Learn more about these franchises and you’re certain to find the one for you.

Related Articles
  Does Your Business Need an Answering Service
  Medical Billing from Home – A Legitimate Business Opportunity?
  Three Questions to Ask Before Choosing a Medical Coding Accounts Receivable Factoring Firm
  Favorite Staffing And Personnel Franchise Business Opportunities
  Should Your Medical Equipment Company Factor Its Invoices?

Article Tags: american business systems, bill payments, billing system, checkups, comprehensive training, downturn, gallstones, home business, marketing materials, medical attention, medical field, medical industry, medical profession, medical professionals, medical services, national economy, staples, state of the nation, trillion, ultrasound technology



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Hello, from Virginia Beach, Va - Hello everyone, My name is Cheree Owens CEO of Labs To Go. We provide Mobile Medical and Testing services in your home or place of business nationwide. I am happy to be on this forum surrounded by entrepreneur mindsets. I am interested in meeting new people to network with. I am also interested in meeting those interested in saving time and money, whether it's for yourself or your business. My vision led me to create Labs To Go because I seen a need. I have been in the Medical field for over 14 years and enjoy helping people. I am always open to new ideas and learning from others. My famous quote, "Success leaves clues." labstogo dot com
These maybe the coldest franchises out there: - Here are the worst 15 performing franchises in regards to having the highest Small Business Administration (SBA) loan failure rates. The list is dotted with sub sandwich shops, fitness centers and car shops. WORST FRANCHISE LOAN FAILURES Failure % 1 OBEE'S SOUP SALAD SUBS 55.56% 2 LADY OF AMERICA 41.94% 3 COUNTRY CLUTTER (BED & BREAKFAST) 41.18% 4 COPY CLUB 36.36% 5 ALL TUNE AND LUBE 35.71% 6 PICKERMAN'S 35.71% 7 PHILLY CONNECTION 35.59% 8 ROLY POLY ROLLED SANDWICHES 34.78% 9 COTTMAN TRANSMISSION 34.48% 10 HAIR COLOR EXPRESS 33.33% 11 LEE MYLES AUTOMOTIVE TRANSMISSIONS 33.33% 12 GODFATHER'S PIZZA 33.33% 13 SMOOTHIE FACTORY 33.33% 14 BLIMPIE 31.39% 15 GOLF U.S.A. (RETAIL GOLF EQUIP.) 30.77% Source: Small Business Administration, SBA Loan Performance Within Franchise Code for the Period of FY 2001 - 2005
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Re: Biz Plan Competition - i just wanted to say that posting Small Business Events on CanadaOne is a great resource. Thanks Julie!


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Build Corporate Credit for Your Small Business

Smart & Simple Internet Techniques

Halloween Howl Seven by Author Paige Agnew

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.