Specialist medical practice financial model, built free.
A three-statement Excel model for a specialist practice group, built from your own figures and checked to balance.
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We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more
Group of specialist practices (ophthalmology, dermatology, cardiology, gastroenterology, orthopaedics) earning consultation and procedure fees, often with its own day hospital or procedure rooms, and growing by bringing specialists into a partnership or corporate model.
In short
- 01
Three linked statements
Income statement, balance sheet and cash flow, linked in every period.
- 02
Valued two ways
Discounted cash flow and trading multiples, side by side.
- 03
Monthly to annual
Monthly, quarterly, half-yearly or annual periods, for up to 30 years.
- 04
Checked every period
A Checks sheet shows the balance sheet balances and the cash reconciles.
The sample, as Excel draws it.
Built by the same system and checks as yours, on illustrative figures: every sheet as Excel draws it, or live.
Illustrative figures: the sample describes no real business. The live preview shows values; your model’s Excel file has every formula.
How the model works for a specialist medical practice.
- How it earns revenue3 formulasClinic revenue · All clinicsClosing patientsOpening patientsNew patient startsPatient lossesClinic revenue · All clinicsClinic revenueIn-centre dialysis revenueHome dialysis revenueClinic revenue · All clinicsTreatments (home weeks counted as weekly treatments)In-centre treatmentsHome dialysis patient weeksIn-centre treatments per patient per week
- What drives its costs3 formulasPractitioner and clinic direct costs · All clinicsPractitioner and clinic direct costsPayments to contractor practitionersSupport staff costsConsumablesOperating expenses · Across the businessTotal FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administrationOperating expenses · Across the businessTotal average FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
- What it invests in3 formulasMedical equipment capex and replacementMedical equipment capexItem 1 capexItem 2 capexItem 3 capexItem 4 capexItem 5 capexMedical equipment capex and replacementMedical equipment depreciationItem 1 depreciationItem 2 depreciationItem 3 depreciationItem 4 depreciationItem 5 depreciationMedical equipment capex and replacementMedical equipment (net book value)Opening net book valueMedical equipment capexMedical equipment depreciation
- How it is funded3 formulasDebtRepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweepDebtClosing balanceOpening balanceDrawdownsRepaymentsDebtInterest expenseOpening balanceAll-in interest rateshare of the year
- How profit becomes cash3 formulasWorking capitalTrade receivablesRevenuefrom statementsDebtor daysDays in periodWorking capitalInventoryDirect costs (positive)from statementsInventory daysDays in periodWorking capitalTrade payablesCash operating costs (positive)from statementsCreditor daysDays in period
19 parts, each one tested.
Every part is a tested building block with its own checks: yours is put together from the ones your business needs.
- CPI forecastConsensus curve with long-run anchor
- Operating expensesHeadcount build by function
- Corporate costsFixed cost base indexed to CPI
- Working capitalFull working capital
- Income taxCorporate rate with tax losses
- DebtAmortising term loan
- Equity raisingDistribution reinvestment plan
- Dividends and distributionsPayout of net profit
- Discounted cash flow valuationDCF on free cash flow to the firm
- Multiples valuationEV / EBITDA multiple
- Practice and site acquisitionsAcquisitions per year × size × multipleRoll-up acquisitions of practices, clinics, imaging sites or pharmacies — consideration paid, goodwill, and the revenue and costs acquired.
- Medical equipment capex and replacementEquipment register with replacement datesCapex, depreciation and book value of major medical equipment — imaging modalities, linear accelerators, dialysis machines, theatre and laboratory equipment — replaced on its own cycle.
- Medical indemnity and professional liabilityInsurance premium per exposure unitInsurance and self-insured claims for medical malpractice and professional liability.
- LeasesLease register
- Key-metric summaryLast-twelve-month and run-rate metrics
- Covenant tests and headroomLVR, gearing and ICR for property
- Case selectionStackable stress toggles
- Clinic revenueDialysis patients × treatments × rateConsultation, procedure and product revenue earned by a practice from Medicare or insurer benefits and patient fees.
- Practitioner and clinic direct costsContractor share of billingsPractitioner remuneration, clinical support staff and consumables at each practice.
The numbers it tracks.
- 01specialists
- 02procedures per specialist
- 03revenue per procedure
- 04facility fee income
- 05EBITDA per practice
- 06acquisition multiple
What it is used for.
- Operating forecastGuide · Financial projections
- Budget and rolling forecastGuide · Cash flow forecast
- ValuationGuide · DCF valuation model
- Merger or acquisition (strategic)Guide · Financial modelling services
- Leveraged buyout (private equity)Guide · Financial modelling services
- Lending and credit analysisGuide · Three-statement model
- Scenarios and sensitivities
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Looking for a specialist medical practice financial model template? Ours arrives built for your business, with your figures in it.
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See a finished model, sheet by sheetThe sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.