HCS 449 Week 5 Assignment Business Plan Presentation

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Business Plan Presentation

By:HCS 449

Introduction

Bringing everything together in a business plan is important to get an overall picture of the potential for success for a new organization. To understand each aspect of the new business, the SWOT analysis, the demographics of the area, the needs and requirements for equipment and technologies, as well as information on quality management and finally, the recommendations for the business, must be reviewed. It is important to review this information and ensure that the proper research has been done and is accurate.

Demographic Data

Approximately 80,000 people in regional market90% of residents possess a high school degree with over 50% having some college experienceMedian income is over $59,000Commercial, Medicare and Medicaid make up the highest portions of the payer mixData shows that upgraded facilities, high quality scores, and convenience draws customer attention.

Potential Locations

Location 1:Located about 20 minutes north of the current hospital location.Requires $30,000 in renovations.1,800 square feet at $3,000 per month. Utilities not includedLocation 2:Located 30 minutes south of current hospital location.Requires $35,000 in renovations.5,000 square feet at $6,500 per month. Utilities not located.

SWOT Analysis

StrengthsStrong management modelAccredited by the Joint CommissionWeaknessesUnderstaffedDecreased market share distributionOpportunitiesNew business brings new potential patientsPotential new technologies ThreatsCompetitors having advantages over Community Hospital

Equipment and Technology

Equipment necessary to preform all servicesDiagnostic, testing, and treatment equipmentEquipment capable of servicing bariatric patients. Technologies for e-visitsEMR and EHR systems

Image retrieved from: https://www.google.com/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&ved=0ahUKEwj3-d_licjRAhUBySYKHZQHAk0QjxwIAw&url=https%3A%2F%2Fgetreferralmd.com%2F2015%2F02%2Fthe-10-biggest-innovations-in-health-care-technology-in-2015%2F&psig=AFQjCNETkmY2VmR3NRfkL_zNOpj-KeifXg&ust=1484704574901350&cad=rjt

Lease or Purchase

Tax deductionsImproved long term budgetingAbility to update and repair leased equipment and technologyReduce risk in leasing than in ownership

Quality Management

EthicsIntegrityTrustTrainingTeamworkLeadershipRecognitionCommunication

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Measuring Quality Care

Utilizing HCAPSBecoming Accredited Data review and researchAre people returning for same problem continuouslyAre there a lot of treatment complicationsAre patients being seen in a timely manner

Image retrieved from: http://www.aafp.org/news/practice-professional-issues/20160908statesnapshots.html

Analyze Financial Situation

Revenues

Great increase in volume of patientsTax DeductionsRevenue from services to patients

Expenses

Leasing cost for equipmentRentInitial startup costsStaffing

Business Plan Recommendations

Put priority on quality of careOpen for 12 hours of operationLease the equipmentRent larger building

Conclusion

There is much work that must go into opening a new business. Whether that business is an extension of an already established organization or an entirely new entity the amount of work does not change although the research may differ. A great amount of time and research must be put into the project and much must be taken into consideration. However, it is vital the creators and other stakeholders prioritize their steps in the creation of the organization the most important step is research and creating an effective business plan. Than to use that business plan to prepare a well thought out business recommendation. These steps are crucial and can greatly contribute to the success of an organization.

References

University of Pheonix. (n.d.). HCS 449 Capstone Business Plan Scenario. Retrieved from University of Pheonix, HCS449 website.The 5 Major Advantages of Medical Equipment Leasing Over Financing. (2017). Retrieved from https://www.bylinefinancialgroup.com/the-5-major-advantages-of-medical-equipment-leasing-over-financing/?doing_wp_cron=1484619080.6913390159606933593750 Padhi, N. (2017). The Eight Elements of TQM . Retrieved from https://www.isixsigma.com/methodology/total-quality-management-tqm/eight-elements-tqm/ Types of Quality Measures. (n.d.). Retrieved from https://ecampus.phoenix.edu/secure/aapd/cwe/citation_generator/web_01_01.asp




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