Business Plan: A Lean Professional Micro-Corporation – A Practice Without Walls

I had one of our community members reach out to me recently ask for some guidance with creating a business plan for their professional micro-corporation that was a location independent practice without walls. They asked:

I have been in contact with a hospital in Wisconsin about 1099 work for my specialty. They have asked me to generate a business proposal with a daily rate.  Can you help us create a business plan including a numbers that makes sense?  We would of course pay you for your time and services.

Because every professional micro-corporation is unique, the exact business plan will be based on your special business plan, but I wanted to provide you with some general guidance using an example. You can read more about this in my article: Micro-Corporation Names: Your Professional DNA

If you are unsure about starting a micro-corporation, read my post: 3 Reasons You Should Create A Professional Micro-Corporation

Let’s get started, and I am going to use a case example to help walk through this with you. If you creating your own business plan, you will need to include each of these elements.

Executive Summary

Dr. Jane Smith, a board-certified family medicine physician, is launching a professional micro-corporation, Smith Healthcare Solutions, PLLC. Operating as a “Practice Without Walls,” this lean micro-corporation allows Dr. Smith to create a diversified income stream by embracing job-stacking through multiple self-employment opportunities. These roles include a blend of telehealth, locum tenens, in-person consulting, expert witness work, and other contractual roles that may be location-independent or location-dependent.

By leveraging her medical expertise across several avenues, Dr. Smith aims to maximize flexibility, professional satisfaction, and income potential while minimizing overhead by avoiding a traditional brick-and-mortar clinic. She will be the sole owner and employee of the corporation, allowing for efficient decision-making and simplified management.

Mission Statement

Smith Healthcare Solutions, PLLC seeks to provide high-quality, patient-centered healthcare across multiple platforms while empowering physicians to regain control of their professional lives through flexible, diversified work. Dr. Smith aims to serve patients and institutions alike by offering versatile, tailored healthcare solutions that adapt to the evolving marketplace.

Business Structure

• Legal Entity: Professional Limited Liability Company (PLLC)

• Ownership: 100% owned by Dr. Jane Smith

• Employee: Sole employee (Dr. Jane Smith)

This structure offers Dr. Smith autonomy while reducing overhead costs. The lean operational model provides the agility to shift between different work opportunities as needed.

Market Research & Opportunity

Market Trends:

• The healthcare job market is shifting toward contract-based work, driven by physician burnout, telemedicine adoption, and the growing demand for locum tenens.

• Physicians are increasingly opting to take control of their careers by engaging in “job-stacking”—simultaneously holding multiple part-time or contractual positions to diversify income and reduce reliance on a single employer.

• Direct patient care is moving beyond traditional office settings into telehealth, urgent care, direct primary care, concierge care, and niche consulting markets (e.g., legal consulting, expert witness services).

Target Market:

• Demographics: A combination of patient populations needing direct care (e.g., DPC, Concierge Care, telehealth and locum tenens) and healthcare institutions seeking short-term physicians, legal firms needing expert medical testimony, and organizations in need of medical consultation.

• Geography: Initially local for in-person roles such as locums, but scalable to national markets through telehealth and remote consulting.

• Psychographics: Healthcare institutions, legal firms, and patients looking for expert, reliable, and flexible healthcare services.

Competitive Analysis:

• Local Competitors: Traditional medical practices and telehealth platforms are limited in offering flexible, comprehensive job-stacking options across multiple avenues of patient care and consultation.

• Online Competitors: Larger telemedicine companies may lack personalized care, while locum tenens companies may not offer the consistency of home based professional services, without constantly traveling.

Services Offered

Smith Healthcare Solutions will offer a diversified range of healthcare services through the following avenues:

1. Telemedicine Services (Location-Independent):

• Acute Care Consultations: Treat common conditions like colds, flu, urinary tract infections, rashes, and more.

• Chronic Disease Management: Remote monitoring and care for chronic conditions such as diabetes and hypertension.

• Direct-Pay Model: Cash-based services with transparent pricing, free of third-party insurance involvement.

2. Locum Tenens Assignments (Location-Dependent):

• Part-Time Contract Work: Dr. Smith will work short-term assignments with rural and underserved clinics, hospitals, or urgent care centers to fill physician gaps and provide immediate care.

• Flexibility: Accept assignments based on availability and location preference, allowing for a customized work schedule.

3. Consulting Services (Location-Independent):

• Expert Witness Work: Provide expert medical testimony for legal cases, including malpractice, personal injury, or disability claims.

• Medical Consulting: Offer guidance to healthcare organizations on patient care models, telehealth integration, or workflow optimization.

4. Corporate Wellness Programs (Location-Independent):

• Employee Health Consultations: Partner with businesses to offer virtual wellness visits and preventive care for employees.

• Health Education Workshops: Deliver virtual or on-site health education tailored to corporate needs.

Revenue Model

Smith Healthcare Solutions will generate revenue through multiple streams:

1. Telemedicine Fees:

• Acute Care Consultations: $50 per visit

• Chronic Disease Management: $40 per follow-up

• Preventive Care Consultations: $60 per session

2. Locum Tenens Compensation:

• Contracted locum work will range from $900 to $1,200 per day, depending on location and need.

3. Consulting Fees:

• Expert witness services: $300 per hour

• Healthcare consulting: $200 per hour

4. Corporate Wellness Fees:

• Employee health consultations: $75 per session

• Health education workshops: $500 per session

Projected annual revenue (based on diverse job-stacking activities):

• Telemedicine: $36,000

• Locum Tenens (50 days/year): $50,000

• Consulting and Expert Witness Work: $25,000

• Corporate Wellness: $10,000

• Total Annual Revenue: $121,000

Cost Structure

Startup Costs:

• Business Registration and Legal Fees: $500

• Malpractice Insurance: $4,000 annually (covers telehealth and locum work)

• Telehealth Software: $1,200 annually

• Website and Branding: $1,500 (one-time)

• Technology (Laptop, Phone, Accessories): $2,000 (one-time)

• Licensing and Credentialing: $1,000

Ongoing Monthly Expenses:

• Telehealth Platform: $100/month

• Malpractice Insurance: $333/month

• Marketing and Ads: $300/month

• Office Software (Zoom, EHR, Mailchimp): $100/month

• Medical Supplies: $50/month

• CME and Professional Development: $100/month

Total Monthly Expenses: $983

Annual Expenses:

• Total Startup and Ongoing Costs (Year 1): $15,800

Marketing Strategy

1. Digital Marketing:

• Social Media Advertising: Use targeted Facebook and LinkedIn ads to reach potential telemedicine patients and locum tenens opportunities.

• Search Engine Optimization (SEO): Focus on keywords related to telemedicine, locums, and expert witness services to increase visibility online.

2. Professional Networking:

• Locum Tenens Agencies: Register with multiple locum agencies and maintain direct relationships with clinics and hospitals.

• Legal Networks: Build connections with attorneys and law firms for expert witness work.

3. Content Marketing:

• Blogging and Thought Leadership: Dr. Smith will regularly publish blog posts, LinkedIn articles, and guest posts in medical journals, establishing her as an expert in remote healthcare, consulting, and locum services.

4. Direct Outreach:

• Corporate Partnerships: Pitch virtual employee wellness programs to local and national businesses looking to improve employee health through preventive care.

Technology Infrastructure

• HIPAA-Compliant Telehealth Platform: Utilize secure software such as Doxy.me for telehealth visits.

• Scheduling Software: Set up online booking tools through Calendly or the telehealth platform for easy access to appointments.

• Electronic Health Records (EHR): Use a cloud-based, affordable EHR solution (e.g., SimplePractice) for telemedicine patients.

• Payment Processing: Integrate a payment processor (e.g., Stripe or PayPal) to accept online payments.

Risk Management

Risks:

• Fluctuating Workload: Balancing different streams of work could become overwhelming without proper time management.

• Regulatory and Legal Concerns: Telemedicine regulations, locum licensure, and expert witness credibility must be constantly maintained and updated.

• Technological Failures: Disruptions in telehealth platforms or internet access could affect service delivery.

Mitigation:

• Time Management Tools: Use scheduling software and maintain clear boundaries around different types of work to prevent overload.

• Legal and Regulatory Guidance: Work with a healthcare attorney to remain compliant with changing regulations.

• Backup Systems: Invest in reliable telehealth infrastructure and internet backup plans.

Goals and Milestones

Short-Term (First 3 Months):

• Establish relationships with locum tenens agencies and legal firms.

• Begin seeing 10 patients weekly via telemedicine.

• Complete 2 locum tenens assignments.

Mid-Term (6 Months):

• Achieve 30 telemedicine consultations per week.

• Secure 5 corporate wellness clients.

• Complete 5 expert witness consulting cases.

Long-Term (12 Months):

• Secure steady locum tenens work with 1-2 long-term contracts.

• Expand telemedicine services to cover 50 patients per week.

• Reach an annual revenue goal of $121,000.

Exit Strategy

As the practice grows, potential future exit strategies include selling the consulting arm to a larger telemedicine company, forming a group practice with other physicians, or shifting focus entirely to one high-revenue activity like locum tenens or corporate wellness consulting.

This business plan outlines a diversified, lean micro-corporation with multiple income streams, providing flexibility and resilience in a dynamic healthcare landscape. Dr. Smith’s job-stacking approach capitalizes on both location-dependent and location-independent opportunities, ensuring professional satisfaction, autonomy, and financial freedom.

You can do the same thing as Dr Smith,and I invite you to consider the self-employment as a better alternative to traditional employment. Don’t just think about doing it, get started on your own journey today!

Call to Action

Physicians, if you're ready to start your own lean micro-corporation and take control of your professional life, SimpliMD offers a personalized micro-business guide for only $500. With this service, you'll receive expert guidance to connect you with top-tier accounting and legal professionals to create your micro-corporation.

For even deeper insights into creating a diversified practice, consider enrolling in “Creating A Practice Without Walls,” a comprehensive course designed to help physicians build a micro-corporation that gives them agency in the marketplace. Take the next step toward a more flexible, empowered career today!