HA499 Bachelor's Capstone in Health Care Administration
7
Business Plan
Marina Perez
Purdue Global University
HA499-Unit1
July 9, 2021
Business Plan
My hypothetical medical facility will be one that will specialize in the treatment of cancer.
Type of Practice
The type of practice will be the treatment of all cancer types. There has been an increase in the prevalence of cancer worldwide and that has led to the loss of many lives. Besides, many people have been left disabled, traumatized and depressed by the disease. Proper treatment will involve buying the necessary equipment and having experts who counsel the patients on the right diet to eat. Besides, the diet therapists will have to make sure that the hospitalized patients are given the right nutrients. Highly qualified doctors will be hired for the medical treatment of the patients. For example, those who will be mandated with chemotherapy and radiotherapy. These experts will have to offer the best care so that the patients can fight the disease.
Number of Employees
When starting, the facility is expected to have about 30 employees. These will include both skilled and non-skilled staff. There will be 10 doctors, 10 nurses, five nutritionists and 5 casual workers. The doctors and nurses will be responsible for the medical treatment of the patients. The nutritionist will offer nutritional counselling and make sure that foods for the hospitalized patients are prepared according to the diet plan. For the casual workers, they will ensure that the health facility is tidy.
Estimated Revenue
In the first year, we expect to make $300 million while in the second year, the revenue is expected to be $500 million. In the third year, the hospital is expected to break even after earning $700 million.
Expenses
The expenses to be incurred at the start of the hospital are expected to be $ 500 million. These funds will be sued to construct the hospital, buy the necessary equipment, buy medicines and pay employees.
I will use a model with the following elements:
Opportunity
I see an opportunity in offering the much needed cancer treatment services. There are many people who require these services nowadays, but there are few hospitals that provide this care. In the process of providing care, there will be revenue made and that will help me meet the goals that I have set. The health facility will create jobs opportunities for many people. These people will earn a living and use the money in the way they want. For example, they will use their disposable income to pay bills and invest. Some of the common bills include house rent, food, education and entertainment.
Doctors, nurses, nutritionists and the casual workers are human beings like any other. Hence, they need to have money to meet their daily life expenses. I also saw an opportunity to change the lives of people who are suffering from this dangerous disease called cancer. Many people have being travelling to far places to access quality health care. It is because there has been a scarcity of health facilities that can treat cancer in the country. Therefore, costs have been increased due to high demand and that has affected those who cannot be able to pay.
In this hospital, the aim is to provide high quality care at an affordable price. By doing so, many people will get helped and that will lead to the transformation of the society. When people manage the disease and feel better, they can resume work and provide for their families (Lawler et al., 2017). Besides, they can continue to pursue their dreams and make them a reality. Most of the time, the disease leads to inability to work and the person gets depressed. It usually happens when they do not get to access healthcare. Also, their families experience a hard time in meeting their needs.
Execution
I will implement this plan by building a hospital. I will have a list if various construction companies and get their prices for completing this hospital. I will then choose the company that will offer the best price to me. Since I do not have all the money that is needed to construct the hospital and make it operational, I will approach a bank and request for a loan. The loan will help me in making this idea come into reality. I will then make an advertisement on various media platforms stating that we are hiring doctors, nurses and nutritionist in a cancer hospital. We shall encourage professionals who have specialized in that field to apply. Thus, we shall have the best team that will help us in achieving our vision and mission.
The vision of the hospital will be to offer high quality cancer treatment. The mission will be offering high quality care for cancer through scientific research. Every intervention will be based on sound scientific evidence. Thus, we shall be able to deliver the best care and that will create a good reputation. Besides, we are likely to win awards due to offering high quality healthcare. The hospital shall finance further training of the specialists so that they can be more knowledgeable and skilled. Some will be offered scholarships to go and further their studies. Research done has shown that more educated healthcare professionals offer high quality care.
Management Plan
The hospital will have an administrator who will be responsible for ensuring that administrative matters go as planned. Besides, the medical superintendent will be in charge of the whole health facility to ensure that all medical interventions go as required. Besides, the medical officer in charge will ensure that there is no delay in provision of care. Another thing is that the medical officer will have to ensure that the set protocols are followed well. When the right procedures for care delivery are followed well, there is provision of quality care. Besides, there is no delay. The nurses will also have a nurse in charge who will oversee heir operations. Even the nutritionists will have their nutritionist in charge who will coordinate all the nutrition interventions. Moreover, there will be casual workers who will be in charge of the other casual workers. Thus, it will be easier to follow up and ensure that the work is done as required.
In any hospital or organization, there needs to be proper leadership or management so that everything can go as planned. When there lacks proper leadership, there is no coordination of activities since that will lead to failure. I will ensure that the leaders in the hospital understand the importance of focusing on both productivity and the welfare of the employees. Employees feel valued and work harder when their welfare and their results became a concern to their leaders (Haag, 2013). They feel that the organization is not only concerned only with what they can deliver, but also with their well belong. Hence, they feel motivated to work harder and smarter.
In organizations where leaders fail to balance those two factors, the set objectives are not achieved. It is not good to only focus on making employees work without giving them a break or making their working conditions favorable (Haag, 2013). Thus, they get depressed and that can make them quit. Thus, the organization will lose employees who are competent and could have taken the organization to great heights. When making decisions in the hospital, the employees will be asked about their opinion. Therefore, they will feel appreciated and that will make them work harder. Employees feel good when they are involved in maters that concern the organization (Nunn & McGuire, 2010). It makes them feel recognized and part of the organization. That satisfaction can make them do extra work and in an excellent manner (Fernandez-Guerrero et al., 2012). They own the vision of the organization and pursue it with passion. They always try to remain in the direction that will help achieve the organizational objectives.
References
Fernandez-Guerrero R, Ravuelto-Taboada L & Simon-Moya V. (2012). The business plan as a project: An evaluation of its predictive capability for business success. The service industries journal. 32 (5). https://www.tandfonline.com/doi/abs/10.1080/02642069.2012.677830
Haag A.B. (2013). Writing a successful business plan: An overview. Workplace health & safety. https://journals.sagepub.com/doi/abs/10.1177/216507991306100104
Lawler S.E, Speranza M.C & Cho C.F. (2017). Oncolytic viruses in cancer treatment: A review. https://jamanetwork.com/journals/jamaoncology/article-abstract/2536204
Nunn L & McGuire B. (2010). The importance of a good business plan. The journal of business & economics research. 8(2). https://www.clutejournals.com/index.php/JBER/article/view/677