Herman Cordero
Miami, FL (USA)
Role(s):
Founder/Owner/Principal
Cardiology Works
Find More Startups
Startup
Location:
Miami
Industry:
Healthcare
Year Founded:
2010
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
"S" Corporation
Description:
Cardiology Works is a service company that provides Cardiology Management Services to health plans (HMO’s) in order to reduce cost and optimize revenue.
The market for Cardiology Management Services consists of those companies that are currently experiencing a high cardiology cost and whose revenue is not optimized according to the risk assessment of their constituents.
Cardiology Works will achieve revenue of more than $15 million in five years with a net profit after tax of $6.2 million. The company will turn profitable in year two with after-tax earnings of $692 thousand. As a
cardiology management organization, margins will be extremely high with gross margins above 38% (including sales incentive costs) and approaching 25% after all operating expenses, once market penetration has reached maturity.
The key to success for Cardiology Works will be the ability to attract the initial capital in order to successfully market its services in the Tri-county area of Dade Broward and Palm beach; and to reinforce its Information Technology strategy. Adequate professional sales staffing, medical team and IT personnel are essential. The company must then expand a successful formula throughout Northern Florida Markets followed by other states.
We're seeking up to $150,000 in capital and progress is being made every day in the marketing area. We have a presentation for a major Health Plan in South Florida January 4, 2011. If we're able to obtain a contract from them, the revenue projections are going to be much less conservative and the company can reach it's revenue phase before 6 months and profitable in less than 1 year. This particular plan has enough membership to achieve the growth we expect to have in 5 years.