Unit VII Project Fin mgt HCO

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Business Plan Project: Part 1

Executive Summary

Healthcare is a very crucial sector in the society that is geared towards the provision of

health solutions to the population, and starting a health-related business needs to be well-

planned. HealthPro Innovations LLC will be a start-up health-care firm aimed at delivering

efficient, available, and affordable health care services to the vulnerable groups. Our goal is to

offer quality health care services and products to those who cannot easily access such services

and products—people from remote and sometimes resource-poor regions, such as rural areas and

some areas in urban centers. Some of the services that we shall be providing include

telemedicine consultations, health status evaluation, and health checkup consultations. This

decision was informed by passion for Self for making health care accessible and affordable since

most of those who cannot afford the so-called health care standard charges.

Business Description

HealthPro Innovations, LLC, will be formed as a limited liability company (LLC), and

this will mean that the ownership is more flexible and the owners are shielded from personal

legal responsibility. The target market will be the healthcare industry, as the business will offer

telemedicine and health prevention products for people who are in need of them in different

regions. Our team is made up of highly qualified healthcare professionals that comprise medical

doctors, nurse practitioners, and business strategists, all of whom have grasped the problems

facing the healthcare administration (Johnson et al., 2018).

The business will have long-term objectives that include aiming at having mental health

services as some of the services provided and seeking hospital corridor inpatient referrals. Some

of those are implementing our telemedicine in one territory and health promotion among the

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people. Our main line of business will be offering consultancy services in health via the internet,

health checkups, and wellness programs.

The patients to be served by QTG are the individuals of 18-65 years who cannot easily

access the healthcare facilities due to the lack of a nearby center. All these competitors’ strategies

will be done away with by adopting the use of technology and offering our services at an

affordable rate. Also, we will undertake patient-centered care where we are more inclined to

prevent diseases rather than cure them, as some of the other models of healthcare have limited

themselves to.

The main rival companies in the field will be other telecommunication players and local

physicians. However, there are specific characteristics of the HealthPro Innovations strategy,

differentiating it from the others stated above, which include serving the unserved and

underserved market with attractive and sustainable health packages at cheaper and inclusive

rates. Hence our mission is to adopt a medical and health care model that involves the delivery of

health services encompassing medical care and health promotion.

Time Value of Money

Finally, the time value of money (TVM) concept is highly relevant in finance since it

holds that a dollar now is worth more than a dollar in the future because of its ability to earn.

Finally, for HealthPro Innovations, the concept of the time value of money will make it easy to

determine the best time to invest some of its capital into other productive ventures, and also, it

will help it in determining the cost of some of its services against the earnings that it is likely to

receive in the future as well as the right price to put into any of its services. Through the use of

TVM, it is possible to earn the maximum amount of profits by using efficient discounting

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techniques on future cash flows and using the funds in the right manner in the form of

investments for its growth (Ayed, 2022).

Financial Tools

The four basic financial statements are significant in analyzing the company’s financial

situation and its financial position. These include:

1.Income Statement: This statement will reveal the amount of returns, over a certain

period, made by a company after deducting the costs involved in its operations. It aids in

determining the efficiency of the company’s performance in terms of its financial health.

2.Balance Sheet: This is the statement of accounts that shows the enterprise’s resources,

acknowledgements, and proprietorship at a given time. It will explain the position of the

company in terms of its financial records at whatever time requested.

3. Cash Flow Statement: This statement shows how money has been received and used

in a certain period of time. The analysis of receivables is important in ascertaining whether there

is adequate cash in the company to suffice all the liabilities.

Statement of Retained Earnings: This statement makes it clear how the profits made in

the company are kept rather than being distributed in the form of dividends. It shows the extent

of the reinvestment in the business in terms of the original earnings made (Ayed, 2022).

Some other relevant ratios, which are also crucial for review, are

Liquidity Ratio (Current Ratio): compares easily marketable current assets with easily

available short-term liabilities.

Profitability Ratio (Net Profit Margin): This shows the ratio of the net profit to the

total revenue generated by the firm.

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The leverage ratio, or the debt-to-equity ratio, helps to evaluate how the company is

funding its operations and is essential in determining the business risk level.

In conclusion, these financial tools and ratios will enrich information resources for the

detailed investigation of the company’s monetary situation and will help to make decisions that

will be crucial for its development.

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References

Johnson, J. A., Stoskopf, C. H., & Shi, L. (2018). Comparative health systems: A global

perspective (2nd ed.). Jones & Bartlett Learning.

Ayed, S. B. (2022). Financial planning and analysis for startups in the e-health sector (Master's

thesis, Universidade de Lisboa (Portugal)).

https://search.proquest.com/openview/624871641683a1ebd1bf241cedf5570b/1?pq-

origsite=gscholar&cbl=2026366&diss=y