Medical Diagnostic Center: How to Start a Profitable Medical Diagnostic Center

If you are a medical scientist or laboratory technician you can consider opening a medical diagnostic center.  Startup capital for such a center runs from moderate to huge expenditure. The scope of diagnostic and type of machinery you buy dictates the cost.

You can start with standard equipment and add more as the business grows. The difficulty and cost of some of the diagnostic equipment make them valuable resources.

Diagnostic business is profitable because lots of people need this valuable service. They provide major support to hospitals and clinics. Many hospitals especially in Africa do not have standard diagnostic laboratories so they refer patients to centers.

Medical centers carry out a large range of diagnostics, scans and tests. To succeed you need trained laboratory scientists, proper equipment, good location and good business skills.

Networking is an effective method to get referrals from hospitals and clinics. Network with doctors and hospitals in your area and provide excellent service.

Another way is to focus on specific diagnostic such as pregnancy test, knowing the sex of a child and other maternity diagnostic services.

Focusing on a specialty field create a business niche and awareness of your services. There is nothing wrong in having a broad center that has multiple services.

Increased demand for quality diagnostic makes the business format attractive and lucrative.

Diagnostic center Business Plan

You need a business plan to know the way forward.  Anything to do with healthcare has some difficulty level that has to do with training, equipment handling and certification.

Do research on equipment, staff, and location include services you want to render or niche? Study your competitors and decide on services such as scan, microbiology, pathology, hematology and x-ray including other disciplines.

Develop a marketing strategy and include profit, expenditure and cost. It is important to do far reaching consultation with practitioners in your chosen industry.

You can hire a professional to write your business plan if you don’t know how.

Here is How to write a Business Plan

Qualifications and Licensing

You need a state license to run a diagnostic center. Only qualified practitioners or technicians are allowed to operate a diagnostic center.

The center will attract lots of government regulations, permits and certification before approved. You also need to register your business as a limited liability company.

 If you don’t have the perquisite qualifications hire a trained professional or laboratory technician.

Raise Capital

Medical diagnostic equipment is very expensive so you need lots of funding. To raise capital you need bank loans to start and run the business.

Getting a bank loan is not easy however if you meet their conditions they will give the loan. Other sources are micro finance banks, trade banks and personal savings.

If you can find a venture capitalist then use this method.

Lease a Facility

The best way to get your business up and running is leasing. Rent a space close to a notable hospital or clinic. The space should accommodate laboratory, equipment and administrative office.

The administrative office should have a reception, clerical office, and test room.  Make sure your center is visible with clear signboards and directions to your center.

The facility should have adequate parking and have a functional open plan layout.

Equipment

The equipment you need depends on the service you render. Laboratory equipment used for diagnosis is ECG, EEG, X-ray, dialysis machines, test tubes and microscopes.

Others are generating sets, refrigerators and scales among other equipment. Purchase your supplies only from certified dealers in your country.

Staff and Manpower

It is very important to hire the right staff for your business. The staff designation covers administrative section, technical and equipment handling.

Make sure you hire qualified and proficient laboratory scientists. Other staffs are cashier, cleaners, security personnel and management staff. You can add a marketing department for promotional campaigns.

Marketing and Promotions

You need to promote your diagnostic center to reach people. Use a dedicated website or other advertisement campaigns.

Advertise in local newspapers, television stations and radio. Use flyers, complementary cards, and posters to attract patronage.

You should Network with hospitals and clinics in your area including medical staff and doctors. Create collection centers at important locations and distribute brochures to medical facilities in your area.

Conclusion

A diagnostic center offers diverse sources of income. It offers a valuable service and is in high demand. Success depends on high quality service delivery and good diagnosis.

To start do market research and gather valuable information. Then get funding for your business venture.

Focus on a niche and network with hospitals and clinics and buy quality equipment. Hire qualified staff and get proper certification, registration and government licenses.

 Finals locate your business close to hospitals or clinics.
14 Healthcare Business Ideas