Business Plan

Business Plan Kelly Shelton SMB-300 Contents  TOC \t "Heading 3 A,3,Heading 5,1,Heading 9,1,Heading 4,1,Heading 8,1,Heading 3,1,Heading 2,1,Heading 7,1,Heading 6,1,Title,5,Heading 1,4,Heading 2 A,2,Heading 1 A,6" \n 1-1 Medical Company  PAGEREF _TOC383 \h 4 Executive summary  PAGEREF _TOC399 \h 4 The Company  PAGEREF _TOC2190 \h 5 Description  PAGEREF _TOC2202 \h 5 Vision  PAGEREF _TOC2728 \h 5 Mission  PAGEREF _TOC2988 \h 5 Objectives  PAGEREF _TOC3224 \h 5 Background  PAGEREF _TOC3937 \h 6 Product  PAGEREF _TOC3948 \h 6 Industry  PAGEREF _TOC5094 \h 6 Market  PAGEREF _TOC5757 \h 7 Target consumer  PAGEREF _TOC5764 \h 7 Legal perspective  PAGEREF _TOC7462 \h 8 Key personnel  PAGEREF _TOC8308 \h 8 Financials  PAGEREF _TOC9404 \h 9 Critical risks  PAGEREF _TOC9415 \h 9 Income statement  PAGEREF _TOC11159 \h 11 Cash Flow statement  PAGEREF _TOC11181 \h 12 Balance sheet 13 Assumptions 13 Medical Company Executive summary A medical services company would provide essentials services to people from all lifestyles. In the modern era of customized healthcare solutions, provision of services under a patient oriented scheme provides the ideal business plan. Medical care has evolved from crude methods in the early days of man to incorporate technologically advanced and scientific equipment. After the discoveries of pathogens and their effect on man, changes were made to the approach of medicine. In this respect, medical care morphs as human beings understand the nature and effects of disease. The latest forays of medicine have been concentrated in offering customized solutions to clients. Medics have often come under fierce criticism for their application of knowledge for custom-made solutions. Ethical issues cropping up from plastic surgery belies every case of popular, customized solution. In the interest, of public policy and healthcare provision, the customized solutions for medical aid offered are limited. In this context, it would only be fair to provide such a solution, to improve efficacy and efficiency of medical solutions. The company aims to provide medical care to patients who require specialized care by making products suit their needs. In some cases, some conventional cures do not apply to all members of a given society (Lieseke and Zeibig, 2012). In this case, the patient needs specialized diagnosis that is often costly and inaccessible. In this case, the company will provide medical aid for consumers in a complete diagnosis model. In this case, the patient will be provided with total support in terms of full testing to determine accurately, the ailments they suffer. This idea is possible with provision of specialists from all the core fields of medicine. The Company Description The operational plan is to have a hospital with an adjacent laboratory and pharmaceutical wing to provide custom services for the treatment for diseases with a bed capacity of 200 with both outpatient and inpatient services. The company will focus on the three wings equally to solve the problem of misdiagnosis that is rampant in the medical industry (Folland et al, 2004). The company aims at providing services to patients in order to minimize the cases of medical related deaths. The laboratory will also provide services of comprehensive testing in order to ensure that all benign ailments that are not apparent. Vision The statement that propels the vision has to provide for a goal base for the company. The company aims to be the leading provider of client-focused medical care in the world. The vision sets a sound goal-setting base for long-term strategic objectives. Therefore, the vision of the hospital is to set provide universal quality healthcare to the masses and be part of a prosperous community. Mission The company has a mission tailored towards providing safe, affordable and effective healthcare. The mission also intends to provide healthcare facilities of a high quality. The services aim at patients with legitimate ailments. The hospitals mission is to provide patient based healthcare using state of the art technology to ensure treatment and recovery. Objectives The company aims to provide medical care of the highest quality possible. This provision allows for comprehensive testing of all diseases to allow the patient to receive treatment. The second objective is to provide dependable services that are consistent to enable clients to receive reliable care. The company also aims at providing solutions that transcend the need for care to a provision for high quality patient care. Provision of high-end care at affordable cost is a core objective of the company. Most patients in the hospitals who require urgent treatment cannot afford it especially if it is specialized (Folland et al, 2004). This presents a formidable challenge that eventually leads to loss of lives. Therefore, from an investment stand point; this is an opportunity to create a positive impact in the community while making money. Background Product The company aims to provide customized medical care that comes in the form of comprehensive testing in order to determine the need of the client. Through employing health-testing systems, patient data will be available for better service provision (Folland et al, 2004). Once the need is established, the pharmaceutical wing takes over. Drugs that are tailored to deal with the precise ailment are made for the clients (Lieseke et al, 2012). This makes the drugs, highly effective in order to achieve the efficiency desired. The industry targeted is still growing and providing unique needs for patients. Specialized healthcare is non-existent in the real sense of the word. The specialized healthcare provided today is not different from common treatment offered by other healthcare institutions that employ general physicians. The product will provide relief to those who cannot afford to buy health care from high-end centers. In the preset inclination, patients have to pay a lot of money to be able to access the services (Lieseke et al, 2012). This health care center aims at reducing the cost so that patients may be able to access the center. The business has to recoup the costs through subtle ways. This calls for austere accounting approaches. The approach means to present advantages to the company so that it does not collapse. Industry The client-focused healthcare provision industry is relatively new, and few organizations exist in this field. Healthcare spending in the United States beats any other country by a considerable margin. Healthcare expenditure in the United States is approximately $7500 per capita annually. The main competitors in client focused healthcare provision are the small medical clinics that offer health services. Institutional based hospitals are also the main completion in the industries. The need for the treatment of various diseases with a focus on the patient has necessitated the creation of these health centers. The industry offers aesthetic operations on a large (Kolker et al., 2012). These operations only appear complex on the outside. However, these healthcare institutions cannot handle serious medical emergencies. The company aims at veering from the provision of the aesthetic solutions in order to avail services to patients. Aesthetic medicine has become a significant source of income for medics from different fields. The company does not intend to provide aesthetic surgery for clients. It is established to provide fundamental healthcare (Kolker et al., 2012). Market Target consumer Most of health related issues in cancer treatment involve exceedingly costly treatment (Lieseke et al, 2012). To avoid the loss of life due to high costs of medication, the company has been made to counter the effect of high costs of providing healthcare. The patients are main clients of the hospital. The hospital does not intend it deal with cases of aesthetic surgery. This leaves the hospital with a narrow field of clients. However, it will be located in the suburbs of Orange County, California. In cases where the company has not tied up the facilities, theaters and treatment rooms with patients, aesthetic cases can be considered (Kolker et al., 2012). The patient under question in this case tends to suffer from cancer. The cancer patients suffer a lot of pain and anguish cancer treatment is lengthy and costly. This leaves the patient with little option. The patients who suffer from cancer and misdiagnosis cases increase each year require specialized treatment in order to cope with their situation. Competitive advantages enjoyed by the company are present because there is little rivalry in this industry. The company can have a free hand to operate at low fees in order to build its cause and finances. The marketing strategy involves online advertising and signage on the drugs (Kolker et al, 2012). The other marketing approach involves the use of airtime from stations. This highlights the company to consumers. The benefit to be accrued from this state of affairs is endless. The overall stagey involves the use of all available means to broadcast cheap, affordable, but high quality health services to patients. The growth plan puts the company on an initial ten-year break-even period in order to recoup its costs and provide affordable healthcare at the same time (Kolker et al., 2012). Legal perspective The organization is a hospital, duly registered as a limited company under the requisite companies Act as required by law (Kolker et al., 2012). This action will make it easier to obtain funding and credibility for actions on the medical side. Doctors will be easy to obtain because the company will use selective criteria for hiring. A limited company has no recourse on the property of the owner in case of bankruptcy. The hospital will be a legal entity on its own. This will be accomplished by registering the hospital to the authorities as a limited company. This would mean the hospitals liability would be redu...