We are a multidisciplinary rehab clinic focused on treating patients after car accidents. We have MD's, PT's and MT's and have been experiencing rapid growth.
Executive Summary
Advanced Injury Treatment Center (AITC) is an integrated clinic focused on treating patients after an auto accident. We maintain the core medical services a patient needs after an auto accident under one roof. These services include Medical Evaluation and Management, Physical Therapy and Medical Massage Therapy. This allows AITC to provide efficient care with better communication between providers. Patient’s appointments can be scheduled together to minimize driving time and improve patient compliance.
AITC actively manages each case to make sure the patient receives the right care at the right time for optimal clinical progress. By individually managing each case, AITC can ensure accurate, timely and defensible documentation that helps cases settle quickly and for the maximum amount possible. This makes AITC very attractive to law firms and medical lien holding companies as a place to send their clients.
Currently medical and rehabilitation care after an auto accident is very disjointed in Colorado.
Care is provided by multiple types of providers often with poor communication between providers. Patients are frequently over treated with one type of care and never receive the additional care they need.
Communication with the patient’s lawyer is also disjointed in the current system. With multiple providers acting independently, patient’s notes are often conflicting and make cases harder to settle.
We see a need and an opportunity in the current system to provide the necessary care, proper case management and funding, if needed, all under one roof. We envision providing this coordinated care in multiple clinics up and down the front range of Colorado.
Medical care after an auto accident is ultimately paid for by the at fault driver’s car insurance. However, this is not paid until time of settlement. This creates an often-complicated process for the victim to receive care. Some may use their health insurance to pay for their care but are subject to their deductibles and copays, which can be substantial. Many cannot afford to pay these copays and deductibles up front while they wait to be reimbursed many months or even years later when they settle their case. Many have limited benefits that do not cover the extensive amount of care they may need and many simply don’t have health insurance at all.
As a result of this complicated process and difficulties in paying for care, a cottage industry has developed that finances this care. These companies place a lien against the patient’s settlement and pay the provider directly for the care at a negotiated rate. They then hold the lien until settlement and collect more than they paid the provider. In most cases, this delta is around 40-45 cents on the dollar. This leaves the lien company a substantial amount of money after managing the case to make a robust profit.
A secondary business can be formed as AITC grows. Many patients will enter AITC not attached to a lien finance company but will need one. A sister company to AITC can be formed for the purpose of holding these liens and generating a solid, secondary profit from the same patients that AITC profits from. That profit margin is calculated to be in the 25-30% range.
At 10 clinics with 40 new patients per month, assuming 35% not attached to a lien company and needing one, this could create approximately $5 million in annual profit. This profit would be in addition to the profit AITC generates from patient care.
AITC was formed by industry experts with decades of experience in the field of personal injury treatment and case management. The following are the key players on our team:
R Dean Hasse, PT, CEO
Dean has owned PT clinics for over 20 years. Previously, he started and grew Cherry Creek Wellness Center to be the largest private PT practice in the State of Colorado. At its peak, CCWC saw over 36,000 patient visits per year. Dean also owned Lakewood Injury Treatment Center with Monique Weerman. They sold LWITC in 2015 after creating the protype for what AITC is today. Dean has rejoined with Monique along with a solid team of very experienced healthcare providers and administrators in the personal injury space to create AITC. Their combined vision is to streamline and improve personal injury care in Colorado with clinics covering the front range from Colorado Springs to Fort Collins.
Monique Weerman, COO
Monique Weerman established her love of the medical field as a hands-on nursing assistant, working in assisted living and drug rehabilitation facilities. Monique has stood by Doctors, for patients, and alongside attorneys since the turn of the 21st century while working for companies like McKessen Health Solutions, HealthONE Colorado, Rocky Mountain Urgent Care & Family Medicine, Synergy Health Partners and her own personal injury clinic, Lakewood Injury Treatment Center.
Dr Stephen Gray
J. Stephen Gray, MD, MPH graduated with “Honors” from the University of Colorado School of Medicine in 1985. He is Board Certified and “residency trained” in occupational and environmental medicine and he completed a Master’s Degree in Public Health at the Medical College of Wisconsin in 1997, then completed his residency in Occupational and Environmental Medicine at the University of Michigan School of Public Health in 2000.
Dr. Gray has been providing medical care to injured patients for more than 36 years. He has been Level II Accredited with the Colorado Department of Labor/DOWC since 1992. Dr. Gray was a Division of Workers’ Compensation (IME) independent medical examiner panel member for over 25 years. He has appeared in court as an expert witness numerous times and has been accepted as a “trauma medicine expert” in civil court. Dr. Gray is comfortable with all phases of injury care, from the immediate post-injury initial visit through the more complex phases of care.
Brandon Higgins, VP
Brandon graduated with a Batchelor of Science in Molecular, Cellular and Developmental Biology from the University of Colorado at Boulder and he is a part owner of a successful small business: D.O. IT Medical Evaluations.
He started his career in Personal Injury at a small injury treatment center while still in college. He then provided consulting services with CPMS for the largest PI company in Colorado: providing accounts payable and receivable support that ultimately produced millions of dollars in revenue.
Nancy Armstead, Director of Business Development
Nancy is no newcomer to the Personal Injury Industry with over 25 years of experience. She spent 10 years as Pre-Litigation Case Manager, assisting and developing what is now is one of the largest PI Attorney Firms in the State of Colorado and another 15 years developing a highly successful multidisciplinary Personal Injury Clinic.
AITC was formed in January 2021 and opened for limited business in temporary space in May 2021. In September of 2021, AITC obtained permanent space in Westminster, CO with full business operations in place. Clinic start up costs will be approximately $30,000 with a projected negative cash flow of $100,000 before break even. We are projecting that AITC will reach profitability by the end of Q2 2022 and will achieve a monthly profit of $30,000 to $50,000 by the end of 2022.
We have an aggressive ramp up phase planned with 2 new clinics added each year starting in 2022 with a projection of 10 total clinics along the front range of Colorado. Below are the statistics on start up costs and profitability of the clinics along with our initial capital raise details:
Clinic start up costs
• Equipment and Furniture = $30,000
• Initial Marketing Push = $40,000
• Negative cash flow allowance = $100,000
• Cash reserves = $30,000
• Total cash needed for clinic 1 start up and ramp up to profitability = $200, 000
• 10 + clinics up and down the front range of Colorado
• Net annual profit per clinic at capacity = $500,000
• At 10 clinics AITC would have a yearly net profit of $5 million and a projected valuation of $25-$30 million
We are seeking $200,000 in capital (equity, loan or a combination) to purchase additional equipment, cover negative cash flow and to market AITC to ensure it's continued growth and ultimate profitability. We are open to investments of many types: loans, equity or a combination of both. For all interested parties, upon signing a non-disclosure agreement, we can provide our full proforma and current financials. Please feel free to contact me with any questions on my mobile number or email of which both are listed below.
Best regards,
R Dean Hasse, PT
CEO Advanced Injury Treatment Center, LLC
Mobile 303-929-9193