Start-up toxicology lab in Houston area with A LOT of interest from multiple providers and a large medical system. Business plan with ROI and expected volume available. Doctors are jaded on large commercial labs with long turnaround times and poor customer service. Cost of toxicology confirmation testing is around $13 per sample with average insurance reimbursement of $114.00. There are labs that do 15 samples a day and break even, just to demonstrate the potential. We think we can get 50-100 samples a week in the first couple months based on conversations with prospective clients. I am currently a sales rep for a large diagnostic reference and worked as a Medical Technologist on the bench with over 15 years' experience in the clinical lab industry. While visiting my clients, I hear on a weekly basis, doctors complain about TAT, customer service, lost samples, format of results, processing error and so on. I have learned that providers just want their lab results to be accurate and timely so they can treat their patients and grow their clinics. I have many resources and helpful partners that want to be a part of this opportunity. Please take a look at my business plan that gives a good overview of what we’re trying to do here. I am seeking equity investment from venture capitalist and/or angel investors. I will be establishing the lab, getting it up to code, hiring and managing the overall process. Someone with lab or healthcare experience who knows the market and has a background I can collaborate with is highly desired. But someone who is passionate and sees the potential of this opportunity too! Would love to bring in some respiratory testing panels down the road to expand on toxicology. These panels are large margin PCR panels tests that we can be added in down the road along with other tests to generate revenue. There are a couple small toxicology labs in the Houston area that are, frankly, not impressive. Very small with terrible marketing and minimal footprint. Every consultant I have spoken with said they would be doing this themselves if they had the time/funds. We want Texas Toxicology to be a great brand as much as it is a reputable lab with turnaround times that outpace competitors by a week or more. Please reach out to me to discuss!
Complete business plan with projections attached.
Ready to Ask For Funding for your company?
Post a Funding Request