Here is an example of an income statement, as well as the entire financial forecast for a mock business. Follow this when trying to create a financial plan/forecast in the future. Also attached is the mock financial plans for Black Birch Chiropractic. This s hard to do because you can never predict how many patients you will see, or even how much to charge for appointments this early in the game.
Here is a template for cash flow to follow in the future.
Use the Excel doc for all business financial work. Here is the link to the financial performance data/ average annual sales for chiropractors: https://www.ic.gc.ca/app/sme-pme/bnchmrkngtl/rprt-flw.pub?execution=e1s3 Also, download the attached file and use it!
This section of the module focused on pricing, and the aspects necessary to break even, make profit, and how many patient to see if we wish we attain a certain income.
Use the following OCA Fee Schedule in the future to assist with pricing: https://www.chiropractic.on.ca/members/managing-your-practice/patient-coverage/oca-fee-schedule/ |
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