How to Start a Small Medical Transportation Business
Medical transportation companies serve a vital purpose in the community by providing non-emergency transportation service to senior citizens, the disabled and people with medical problems. Starting your own medical transportation service can be both challenging and rewarding. You can be successful in your medical transportation business as long as you plan carefully and follow appropriate steps.
- Take care of legal requirements. You need to have the proper license and permit to operate a transportation business. In addition to your regular Department of Transportation license, you may need a special license for medical transportation, so check with your local and state departments for licensing requirements.
- Secure financing. Apply for a loan at a bank, credit union or other financial institution. Make sure you have a well-written business plan to present to them, as most lenders will like to see your business plan before considering extending loan to you. You can also inquire about getting government and private grants. The Small Business Administration can assist you in this matter.
- Get the right type of vehicle. Be sure the vehicle you use complies with the safety regulations in force in your state. Also it is important that you customize the vehicle to accommodate patients in stretchers and wheelchairs.
- Purchase insurance policy. Medical transportation companies must have large insurance policies because of the nature of their business. You will be operating specialized vehicles which transport patients, so expect these policies to be quite expensive. It is advisable to shop around and compare several offers by different insurance companies before making your choice.
- Promote your medical transportation company. Send letters and fliers to nursing homes, medical clinics, assisted-living facilities, retirement communities, hospitals and other health related businesses. Get your business listed in the yellow pages. Visit the local senior citizens centers and let them know about the services you offer. Advertise in local newspapers and health and wellness magazines.