This independent or consultative medical exam company performs exams for Social Security and State disability services at approximately four dozen sites in almost a dozen states along with brand-new sites being added every month. They perform thousands of physicals each year, including insurance physicals, Department of Transportation physicals and other types of exams. Licensed physicians and medical assistants perform 15-20+ exams per day mainly on Saturdays in clinics throughout each state. Exams are straightforward physicals along with no follow-up care, diagnosis or treatment. As a result, this business is not needed to be licensed as a medical practice. And because each state develops relationships along with only a limited number of providers, there is a challenging barrier to entry.
This company launched in 2005 along with one state and has actually grown in the number states, sites and patients served during the last 10 years.
This is relatively fragmented industry along with a handful of large service providers and a large number of smaller, often single-practitioner businesses.
There are four key areas of growth for this business: 1) Increase the number of sites within each state; 2) launch services in brand-new states; 3) aggressively target brand-new revenue channels such as insurance exams, corporate hiring exams, airline medical screening and others; 4) organic growth through the increased number of Social Security and Disability claims.