1. Justify the expansion. Make sure you have identified the doctors you want to bring in.
2. Show how these doctors will increase revenue and profit. Analyze cases, reimbursements, additional expenses, etc.
3. Do not expect the same terms you got when you were a start up. Since you are an existing business now and you have cash flow, you will have to start paying the loan back once you get your expansion completed. Also expect a shorter term (~5 years).
4. Do not expect non-recourse financing. You can probably negotiate some form of “burn down” or “burn off”.
Learn more about Sun Healthcare Finance.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.