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
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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
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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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