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The number one reason startup urgent care centers fail is because they run out of cash before getting to break-even volumes. Cash is a measure of profitability, and it allows your company to continue developing. Cash will help you get from here to there. It does not matter how much you will get in the future, if you do not have enough cash now you can’t cultivate your company’s needs. When an urgent care center opens it has a business plan developed with budgets and goals—but operations and patient volume doesn’t always go according to plan.
In his blog post “6 Reasons that Counting Dollars Makes Sense for Urgent Care Centers,” Dr. David Stern explains what steps urgent care providers can take to monitor cash metrics closely and take in more revenue. Read it here