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Major Capital Acquisition for Nurses' Lounge

Major Capital Acquisition for Nurses' Lounge

Introduction

Integration of a new nurses’ lounge in nursing is crucial since it validates the patient improvement capabilities of nurses. Decision-making is possible by advanced nurses who have an aesthetic environment whereby they can collaborate and make decisions without having to seek insight from doctors all the time. Nurses can study disease management, and this would receive positive reception from all persons in healthcare environments. A nurses’ lounge is thus an improved method of handling patients’ needs after finding out how they possess diverse treatment improvement expectations. The new construction can integrate all aspects of a patient's life to promote their entire treatment. This paper shall discuss a capital acquisition process to find out how the hospital’s revenue and expenses shall allow the new lounge to get constructed.

Capital Acquisition Process

As displayed below, the current operational amount for the hospital is $1,552,000, and it is thus imperative to attain more capital to fund the proposed nurses’ lounge.

Table 1

Capital Budget

	Year 0	Year 1	Year 2	Year 3
Gross Revenue	400,000	440000	484000	532400
Less: Discounts + Returns
Net Revenue	394,000	433,000	476,500	525,400
Less: Cost of Healthcare Services	120,000	123600	127308	131127.2
Gross Profit	274,000	309,400	349,192	394,273
Salaries +Wages	6,000	6,200	7,000	6,500
Administrative Cost	2,000	3,200	2,800	3,200
Repairs and Maintenance	5,444	2,000	4,000	2,500
Depreciation	2,000	4,300	2,300	3,200
Professional fees	5,660	3,200	2,200	3,200
Total Operating Expenses	21,104	18,900	18,300	18,600
Operating Income	252,896	290,500	330,892	375,673
Less: Income Tax Expense	75868.8	87150	99267.6	112701.8
Net Income	177,027	203,350	231,624	262,971
	Assumptions
	The need for healthcare services grows by 10% each year.
	Cost of healthcare services increases by 3%
	Tax 30%

The financial statement above indicates the hospital shall operate using a standard budget to work with the current nursing management strategy. All the items and operational costs mentioned would facilitate high profitability for the product’s new venture. The proposal is for the department to work with a proposed budget of $100,000. Once the nursing management process becomes successful and the new lounge serves nurses’ expectations, the demand for such an operational structure will be feasible for different nurses’ management processes. Integration of a standard nurses’ management procedure will ensure the finances break even before the end of one year. This means that before the end of one year, the business will have recovered its starting expenses and start earning profits.

Plan for Budget Management

The technique of practice inquiry assists nurses in improving their competency by integrating different levels of expertise and using the new information to generate patient improvement. There is a strong possibility of generating quality improvement for all hospital areas based on knowledge gained during practice inquiry. The outcome becomes evidence-based practices that create firm reliance on patient improvement (Baloh et al., 2008). It can be possible for the entire healthcare environment to get provided with care and increase positive outcomes for all patients.

The lounge’s nurses’ management strategy is focused on the age, interests, race, and income of all its patients. The nurses’ lounge ensures it deals with nurses who are conversant with current healthcare standards.

In terms of age, the nurses’ lounge serves persons of all ages and ensures it customizes the common areas based on their patients’ requirements. The nurses’ management segment also focuses on the interest of patients in terms of corporate or leisure activities. The lounge offers effective packages for its corporate patients and government entities (Mehta & Peters, 2007). This ensures an effective connection with the lounge’s development since it is possible to provide amenities suitable to all types of patients. In terms of race, the hospital does not discriminate since it treats all its patients the same. In terms of patients’ income, the hospital offers its services matching its high-end services. As such, the hospital’s main patients are those with middle- and high-class income.

Strategic Response

The required strategic response by the hospital is to ensure its recovers from the downward financial trend. Implementation of a new nurses' lounge already possesses a vast portfolio that would enable it to recover from the financial hurdles. It would be possible to improve the hospital’s output by using available resources to increase nurses’ management initiatives to the appropriate nurses’ management segment. The hospital’s current plans of acquiring more funds to develop new lounges would also improve profitability since it would be possible to acquire new patients with different types of preferences.

Capital Acquisition and Existent Financial Health

At the moment, the nurses’ lounge improved on its nurses’ management segment analysis as it focuses on identifying guests who are suitable for its brand. This is highly strategic since it is possible to identify the hospital’s patients and prepare their common areas according to the expectations (Segil, 2008). The development shall be strategic since it enabled the hospital to acquire many patients who aim to relax in luxurious areas. The lounge developed high-end villas that would suit patients with major expectations. This has been highly profitable since the lounge always checks in patients who receive high-quality care. The hospital further performed an effective analysis of its patients and discovered nurses’ management that is unstable and does not fit the expected profitability. This reveals the hospital’s drive to acquire a return on investments.

In terms of improving its nurses’ management segment, the nurses’ lounge hopes to acquire more reliable nurses through its luxurious lounge brand. The nurses’ management environment at the moment has not been highly profitable since the hospital’s patients were affected by economic conditions. The hospital hopes to develop new nurses’ management strategies that would improve its view of the patients (Burdon et al., 2009). The hospital’s vast portfolio enables it to acquire patients from different nurses’ management segments. This creates an opportunity for the hospital to develop lounges suitable to local architectural designs. The tactic would be highly suitable since each component of the lounge’s portfolio will create high profits for the nurses' lounge’s total revenue.

Conclusion

In conclusion, There can be an effective operational standard at the nurses lounge once a feasible get integrated to attain all expectations. At the moment, the 50-bed hospital unit shall promote its feasibility moreso after learning about the client demographic and establishing an ambient environment for clients to relax. Acquisition of the funds shall be possible using crowdfunding campaigns, and the hospital shall produce informational and promotional content on social media. This method is the cheapest way of making healthcare stakeholders aware of the new lounge. The main outcome shall be a reliable nursing management process to serve all persons in the hospital. The new lounge shall be a unique result in positive healthcare management procedures.

References

Baloh, P., Jha, S., & Awazu, Y. (2008). Building strategic partnerships for managing innovation outsourcing. Strategic Outsourcing: An International Journal, 1(2), 100-121. doi: 10.1108/17538290810897138.

Burdon, S., Chelliah, J., & Bhalla, A. (2009). Structuring enduring strategic alliances: the case of Shell Australia and Transfield Services. Journal Of Business Strategy, 30(4), 42-51. doi: 10.1108/02756660910972640.

Mehta, S. & Peters, L. S. (2007). Outsourcing a Core Competency, pp. 28-34

Segil, L. D. (2008). Making Business Alliances Work. Management Quarterly Pp. 30-35