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Medical Billing and Software
Company Marketing
I. Customer Base/Profile: The Company is a nationally based operation. Physician-based medical practices including solo or group practices are the target market. The business serves all medical specialties. The company has built long-term relationships with most clients.
II. Marketing Information: The Company relies primarily on industry publications and search engine leads for generating leads among small and growth-oriented physician-based practices across the United States. An educational-driven website supplements these activities. The company is ripe for expansion with a capital investment from a qualified buyer who can take marketing to the next step through printed media, trade show involvement, and aggressive Internet marketing Search Engine Optimization techniques. Currently the business has one outside salesperson handling the entire US.
III. Strengths, Weaknesses and Competitors:
A. Strengths: The Company is one of the few in the industry that offers a two-tier business model to customers and prospects: knowledgeable customer billing specialists and easy-to-navigate yet sophisticated software. Most competitors offer either one or the other. The company’s major competitor is larger and less agile. Very low overhead makes this opportunity particularly attractive for a prospective buyer.
B. Weaknesses: The Company lacks the capital resources for implementing the necessary marketing strategies that could take the company to the next level generating increased sales and earnings.
C. Competitors: Major competitors are located in New Jersey, Massachusetts, and one in Florida. While the company is smaller then its competitors they provide either a billing service or software, not both.
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