Executive Summary: HIPAA Compliance Strategies
We have gone over our books and looked at our labor growth over the last 6-7 years. Here is a summary of our situation. All numbers are based on billed services only. Costs of goods sold are NOT included in any of the numbers. Our average growth per year over the last 6-7 years is 48.62%. If we take out our best and worst years for growth then our average is 31.62% each year. We are currently on pace to easily hit $126,703.79 in labor for 2016. Our labor increased by 34.84% from 2015 to 2016. We just added two managed service clients this month. Now we have 20 managed services clients that add up to $120,720.96 per year. As you know this is the most valuable part of our business.
Our HIPAA compliance solutions and networking with …show more content…
However, we like the idea of merging and working for Alliance Technologies as a Director of Client Services and focusing heavily on our HIPAA compliance plans. You mentioned that a salary for a Director of Client Services at Alliance Technologies would be in the $105,000 - $110,000 range. If we were to merge we'd like to get $500,000 ($250,000 each) for bringing our book of business to Alliance Technologies and keeping those relationships ongoing, along with each of us receiving Director of Client Services salary for the next 3 years (minimum). We'd be interested in various compensation options including shares in Alliance Technologies. Essentially our goal by the end of the first three years is to each have total compensation in the neighborhood of $500,000 between salary, benefits, share in the company, and any up front payments. This will add up to an outlay of approximately $1,000,000 for the merger during the initial three year …show more content…
We'd actually expect to grow a lot more than 30% each year once we merge and have access to your team and resources. It sounds like there is a lot of opportunity for some of your existing clients to take advantage of our HIPAA compliance plans. Our goal is to have $250,000 in managed services by the end of 2017, $375,000 by the end of 2018, and $500,000 by the end of 2019. This will be accomplished by adding, on average, one HIPAA managed service client per month. If we hit these goals Alliance Technologies would break even on its investment within the first 3-4 years of merging with J.J. Micro LLC.
Our managed service clients run mostly on auto pilot. This was an average week and we had about 12 billable hours. 10 hours (8 hours remote, 2 hours on-site) from incoming calls/emails from clients and 2 hours for managing devices. 10 hours were managed services clients, 1 hour business client, 1 hour residential client. Let us know if our above expectations are in line with your vision of a merger with J.J. Micro LLC. Thank you for your time and careful
Our HIPAA compliance solutions and networking with …show more content…
However, we like the idea of merging and working for Alliance Technologies as a Director of Client Services and focusing heavily on our HIPAA compliance plans. You mentioned that a salary for a Director of Client Services at Alliance Technologies would be in the $105,000 - $110,000 range. If we were to merge we'd like to get $500,000 ($250,000 each) for bringing our book of business to Alliance Technologies and keeping those relationships ongoing, along with each of us receiving Director of Client Services salary for the next 3 years (minimum). We'd be interested in various compensation options including shares in Alliance Technologies. Essentially our goal by the end of the first three years is to each have total compensation in the neighborhood of $500,000 between salary, benefits, share in the company, and any up front payments. This will add up to an outlay of approximately $1,000,000 for the merger during the initial three year …show more content…
We'd actually expect to grow a lot more than 30% each year once we merge and have access to your team and resources. It sounds like there is a lot of opportunity for some of your existing clients to take advantage of our HIPAA compliance plans. Our goal is to have $250,000 in managed services by the end of 2017, $375,000 by the end of 2018, and $500,000 by the end of 2019. This will be accomplished by adding, on average, one HIPAA managed service client per month. If we hit these goals Alliance Technologies would break even on its investment within the first 3-4 years of merging with J.J. Micro LLC.
Our managed service clients run mostly on auto pilot. This was an average week and we had about 12 billable hours. 10 hours (8 hours remote, 2 hours on-site) from incoming calls/emails from clients and 2 hours for managing devices. 10 hours were managed services clients, 1 hour business client, 1 hour residential client. Let us know if our above expectations are in line with your vision of a merger with J.J. Micro LLC. Thank you for your time and careful