Starting my own Private Ambulance Service.

emt for life

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I was wondering if it would be a good idea to take business classes my local community college and use that toward starting my own Ambulance service. Would it be a good idea? How much would it cost? I do know what materials are needed because I am an EMT myself, so supplies and that kind of stuff isn't the problem. It is just the basics of how much it does cost and is it worth the hassle?:)
 

Arovetli

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OP
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emt for life

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I do understand that it will be a big undertaking I just want to know if it is worth the time and money?
 

Sandog

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If you have to ask, well ...
 

medic417

The Truth Provider
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After you have the ambulance and all the requi
PHP:
red supplies and a building bought it takes approximately $400000 - 600000 to staff and operate that one ambulance for one year. Odds are you will not collect that much from your patients.
 

Talonrazor

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you dont believe im serious? I have already made a busibess plan and everything.

Believe me, as someone who just took over operations side of an (very small, specialized) agency there is a lot that goes into it. You need tons of experience and a dedicated team to make this work....
 

Veneficus

Forum Chief
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you dont believe im serious? I have already made a busibess plan and everything.

How do you make a business plan that doesn't include costs?
 

akflightmedic

Forum Deputy Chief
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Pre Marketing (Marketing/Business Manager required)
Advertising Costs
On going Marketing

Certified Public Accountant (CPA) Must have or you will be in trouble fast with expenses and taxes

Lawyer-You will have employment contracts, business contracts and there are times you will be sued

Operations Manager
Human Resource Manager
Finance Manager (Billing and Collections) -this is separate from your above CPA
Health Insurance for employees
Disability Insurance/Life Insurance (Workers Compensation) This is a heavy cost

Uniforms
Supply and Inventory manager

Building for operations (lease agreement)
Utilities
Internet
Phones
Office Supplies

Ambulance (how many plus one spare)
Ongoing/routine maintenance
Hire a mechanic or sub out work as needed?
Fuel (checked prices lately?)
Insurance on vehicles

Equipment for ambulance

Employees
Manager
Orientation Costs

Medical Director

Time spent on producing policies and procedures...time is money every thing done to support the business must have a cost associated with it....even your time.

Your salary--yes you have to pay yourself you cannot just dip in the old work bank account anytime you want.

Inventory is going to be a HUGE pain in the *** as you will have money tied up in resources which you may not ever use. They may expire before you get to them. But you cant wait till stuff runs out to replace/order it.

This list is not even done yet...this is me rambling and rattling off what I know.

I am a business owner.


In addition to all the above START UP costs...meaning the money you must spend before you can even start the business...you now MUST have enough capital to run the business for a minimum of 6 months.

You will have to be able to pay for all salaries, fuel, operating costs for 6 months before you might even possibly start receiving revenue.

During this time you will aggressively pursue any and all contracts. Your prices will need to be more competitive than the established companies. You are unproven so no one will use you unless there is a financial advantage as you have no reputation to entice. You will now be in a price war--can you sustain it without folding?

You will bill and be denied repeatedly. You will resubmit claims. You will only get partial payments on total amounts billed. Will you have enough volume to overcome this?

It can and usually takes up to 60-90 days before you get paid for work done today.

Market surveys? Have you had anyone do a professional market survey? have you polled potential businesses?
 
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Veneficus

Forum Chief
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Forget all of that, i'll just take care of the patients instead of inducing my own ulcer.
 

46Young

Level 25 EMS Wizard
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I wouldn't attempt starting an IFT company if you haven't worked as a Director for one. There's a many aspects of the business that you're going to be ingorant to.

You'll also need venture capitalists to provide funds and share the risk.
 
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emt for life

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Well, considering nobody believes me when I say "I am going to start my own ambulance service" I am going to try my hardest and I have made a full Business plan (for all of you that want to be smart about it) I just don't know if it would be worth my time or not?
 

Sasha

Forum Chief
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Oh goodness. Good luck, you're going to need it.
 

medicdan

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Well, considering nobody believes me when I say "I am going to start my own ambulance service" I am going to try my hardest and I have made a full Business plan (for all of you that want to be smart about it) I just don't know if it would be worth my time or not?

What we are trying to tell you is that we don't think it's worth your time at all. Please try to read some of the intelligent responses to your initial inquiry and you will get a sense of why posters here believe it's a BAD idea.
 

Sasha

Forum Chief
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What we are trying to tell you is that we don't think it's worth your time at all. Please try to read some of the intelligent responses to your initial inquiry and you will get a sense of why posters here believe it's a BAD idea.

Not only that but you're getting all in a huff over really nothing it leads me to believe you'd have a hard time dealing with the stress.
 

firetender

Community Leader Emeritus
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Well, considering nobody believes me when I say "I am going to start my own ambulance service" I am going to try my hardest and I have made a full Business plan (for all of you that want to be smart about it) I just don't know if it would be worth my time or not?

The purpose of a business plan is to tell you if the project is worth your time and effort.

If it hasn't done that for you, then it won't do that for anyone else.
 

Talonrazor

Forum Probie
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Plus, learn how to write.
 

p2medic

Forum Ride Along
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Wow, the discouragement is incredible on here. Check out EMS Management degrees from ENMU. I love it, dream big my friend. And YES, it is worth the money... otherwise no one would do it! I know business and i speak business, but yea get on with a company and climb management ladders as quick as possible, learn from everyone. Learn what works, learn what doesn't. I've thought about it myself and its a huge undertaking, but so is anything worth doing, I've got business plans of my own (non-ems) and I will make them realities in time.
 

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