Introduction
The medical facility, known as “Peterson Healthcare Centre,” will provide comprehensive medical care to patients of all ages. The center will be located in a prime area, and we will offer various services: preventive medicine, emergency care, surgery, dental care, diagnostic imaging, and laboratory services. This plan aims to improve the health of patients across the globe. The facility will offer top-quality accessible, and affordable care. Peterson medical facility is a cutting-edge healthcare provider that delivers top-quality medical services to patients in the United States and abroad. A team of experienced medical professionals will enhance customer satisfaction. However, the development of such a project requires considerable consideration of a detailed action plan, therefore, this paper proposes an analysis of the institution’s operations, market, competitive offer, staffing structure and estimated costs.
Business Overview
Peterson Healthcare Facility aims to provide a wide range of healthcare services. The facility will have a team of highly qualified technicians and support staff (Heller, 2021). Equally, it will offer preventive medicine and emergency care. In addition, surgery, dental care, diagnostic imaging, and laboratory services will be offered. The facility will generate revenue through patient fees, insurance reimbursements, and government funding. It will require an initial investment of $5,500,000 to cover the costs and expenses (Moro Visconti & Morea, 2019). Significantly, expenses incurred by the facility will include construction, equipment, and staffing costs. Additionally, potential investors who will contribute the required capital have been identified. The facility will have two primary care and preventative care physicians specializing in general practice, two dentists, gynecologists, pediatricians and mental health specialists. Four registered nurses and four licensed practical nurses are included in the staff. In addition, the facility will have a team of four administrative staff, including a receptionist, medical records clerk, billing specialist, and office manager.
Market Analysis
There is a significant shortage of healthcare providers in the United States, which presents a significant opportunity for Peterson Healthcare facility to fill the market gap. In addition, the demand for the services listed in the business plan is relatively high, confirming a World Health Organization study (World Health Organization, 2020). This fact is caused by various factors, such as an increased load on the system due to the COVID pandemic, a reduction in the number of specialists due to burnout and adaptation of the educational system, and much more (World Health Organization, 2020). The critical value of accessibility is achieved by serving patients of all ages and genders (Moro Visconti & Morea, 2019). In addition, the location of the center is another key competitive advantage.
Services & Type of Practice
The facility will offer primary care practice, preventative, diagnostic, and treatment services. Equally, it will offer pediatrics, gynecology, mental health services, and preventative care. It will have a team of competent primary care physicians, nurses, and administrative staff. Significantly, primary care services will include routine checkups and physical examinations. Pediatric services include routine checkups, vaccinations, and sick visits (Heller, 2021). Gynecology services will entail routine exams, Pap smears, and birth control consultations. The medical team will also establish strong partnerships with insurance companies and healthcare providers to expand the patient base and increase revenue streams.
Management Team
A team of experienced healthcare professionals will manage the Centre. It will include a medical director, a practice manager, a billing manager, a nursing supervisor, experienced physicians, nurses, and administrative staff will be employed (World Health Organization, 2020). The entire staff will be highly trained for compassionate and high-quality care to our patients. It will also leverage the latest technology for an efficient and seamless patient experience. The technology will include electronic medical records and telemedicine capabilities (Kaye et al., 2021). The Peterson healthcare facility team comprises experienced medical professionals with a proven track record of success in the healthcare industry, good experience, and a wealth of knowledge and expertise.
Competitive Advantage
This institution has several advantages, which together form a competitive advantage—starting from a convenient and affordable location and organizational issues, such as various payment options and insurance programs, ending with the many operational services provided. There can be no compromises in health matters; therefore, the team undergoes a rigorous selection for competence, and the equipment is purchased only the latest with mandatory subsequent maintenance and quality control. Finally, the diversification of services is available for patients of all ages, indicating specialists’ high professional skills and an individual approach.
ROI Calculation
The return on investment (ROI) for the healthcare facility can be calculated by dividing the net income by the total investment. The second formula shows the calculation for the total investment of $5,500,000. This financial indicator is a key one for investors, especially at the stage of evaluating a project as a start-up. However, in itself it is not the only sufficient basis for making an investment decision, for which this analysis is undertaken with the construction of a business plan. A number of external and potential internal factors always create risks for projects with fairly high fixed and variable costs. The assessment of weaknesses and strengths is carried out by various types of analysis, which can be implemented after the approval of this business plan, as the main roadmap to action. Competitive threats, as well as a range of political and global determinants, are important indicators of progress in the health industry.
ROI Advantages
Peterson Healthcare Facility’s business plan will generate a significant ROI for its investors. It has projected a net income of $300,000 (Kaye et al., 2021). This facility is poised to become a leading healthcare provider in the United States by delivering top-quality medical services to needy patients. The high returns will increase its market share and profitability. The net income projection in the first year of operations is expected to increase over time. With a strong management team, solid business model, and growing market opportunity, the facility has the potential to become a significant player in the healthcare industry. We seek to bring our vision to life, realize our potential, and acquire high returns.
Why the Facility will be Successful
Primary care services are in high demand, and the healthcare facility will provide quality care to meet the patient’s needs. It will employ an experienced team of primary care physicians and nurses to provide quality care to patients. Moreover, this organization will accept various insurance plans, making them accessible to a broad range of patients, which in the long term increases the potential target audience and profit. Finally, the convenient location, making it easily accessible to patients, will create a competitive advantage. Technical equipment in conjunction with top specialists will contribute to efficiency and speed with the quality of services provided. Such opportunities will allow further extrapolation of this business model, scaling both vertically the number of specialists and the volume of patients per day, and horizontally – diversifying services.
Conclusion
The calculated financial return on investment is a clear proof of the payback of variable costs. However, the opening of such a center requires deeper calculations, including the construction of a breakeven point, NPV and IRR, as well as other indicators of project payback. This business plan meets the most basic needs emerging as demand in this and neighboring regions, touches on the problem of a federal scale and partly makes it possible to understand the gap between the supply of medical services and requests for them. In summary, the proposed medical facility will fill a critical need for affordable and accessible healthcare services in the region. The stakeholders are confident with the experienced team, diversified in specializations. Coupled with the Hospital’s reputation, it will establish a successful and sustainable healthcare facility. Your consideration of this proposal will be appreciated, and the board looks forward to discussing it further.
References
Heller, D. (Ed.). (2021). Performance of Valuation Methods in Financial Transactions. John Wiley & Sons. Web.
Kaye, A. D., Okeagu, C. N., Pham, A. D., Silva, R. A., Hurley, J. J., Arron, B. L.,… & Cornett, E. M. (2021). Economic impact of COVID-19 pandemic on healthcare facilities and systems: International perspectives. Best Practice & Research Clinical Anaesthesiology, 35(3), 293-306. Web.
Moro Visconti, R., & Morea, D. (2019). Big data for the sustainability of healthcare project financing. Sustainability, 11(13), 3748. Web.
World Health Organization. (2020). Operational considerations for case management of COVID-19 in health facility and community: interim guidance, 19 March 2020 (No. WHO/2019-nCoV/HCFoperations/2020.1). World Health Organization. Web.