What is the best business plan?
What is the best business plan? Read the scenario and in 150 words answer ?What is the best business plan?? Business Plan Scenario Background Community Hospital is a 180-bed acute care hospital that is qualified as a not-for-profit facility. The hospital was originally a county-owned facility and transferred status to an independent facility three years ago. The hospital receives no external funding from governmental agencies for operations. The hospital is accredited by The Joint Commission and received reaccreditation during their triannual survey last year. The hospital has an aggressive quality management program and a low volume of medical malpractice claims. The hospital is located in Bedford, which is a city of 50,000 people with 80,000 people in the regional market. The hospital provides a general range of acute care services including medical and surgical, rehab and emergency care. The president of the hospital has asked you to evaluate the feasibility of establishing an off-site urgent care center at a local mall. You will use data provided in this scenario to make your decisions and recommendations. Current Performance Analysis Mission and Vision Our Mission- To improve health by providing high-quality care through a comprehensive range of services. Our Vision- Community Hospital and its affiliates will be the health care provider of choice for physicians and patients. Our five-year vision is to create a large, multispecialty physician practice system that would include at least six family practice physicians and specialists in cardiology, oncology, and women?s services. Currently the hospital employs three family practice physicians, one obstetrician, one medical oncologist, and one non-invasive cardiologist. Market Forces Affecting Hospital Volumes Patients The continued growth of chronic disease will require changes to the care management model. Percent of population by age: Five years ago Five years from now Under 18 24 18 18 to 44 46 32 45 to 65 26 30 Over 65 4 20 Over 53% of residents have at least some college education, with just over 29% possessing an associates, bachelors, or graduate degree. Over 90% of residents possess at least a high school diploma. The average unemployment rate in the county is currently 9.9%: Market share distribution percentage with major competitor: Five Years Ago Last Year Community Hospital 48 35 Competitor 30 43 Out of County Hospitals 22 22 Patient Origin by Zip Code 96101 is Community Hospital zip code 94963 is major competitor hospital zip code Payment Continued focus on pay-for-performance and increased wellness programs. Affordable Care Act creating more covered lives, however often with high deductibles. The median household income for county residents is $59,548. On average, households in county earn more than the state median household income of $44,446 and more than the national average of $53,650. The addition of a new automotive manufacturing plant to the local market this coming year is projected to add 1,500 production line jobs and 300 administrative jobs by year end. Median income for the production positions is estimated at $45,000 and will provide health, vision, and dental insurance benefits. Current Payer Mix Projected Payer Mix 5-years Percentage of Population by Insurance As part of your review of this data, consider that a portion of the population will become Medicare eligible, the addition of manufacturing positions that include benefits will increase commercial insurance coverage and changes from the Affordable Care Act will increase the number of patients in the market with insurance coverage. Employers Expected growth in large employers with addition of automotive factory in northwest sector of county. Physicians Continued shortage of medical staff, especially in orthopedics, oncology, and primary care will require increased recruitment efforts. Competitors Other hospital in county, Hanover County Hospital, has an updated facility, which has drawn more market share to their facility. Competitor Key Areas of Competition New Programs and Facilities Risk to Market Share Primary Competitors Hanover County Hospital Facility upgrade Quality Scores Significant renovation of core hospital to update aesthetics Added new wide-bore MRI machine last year Reaching 95% percentile in five of six HCAPS categories Drawing patients to newer facility Accommodates heavier patients Patient perception of higher quality and patient satisfaction Medical Center in county south of Stevens Physician clinics Financial stability E-visits with specialists Low debt and high cash on hand Drawing patients out of primary and specialty care at Stevens Ability to cash flow projects Secondary Competitors Retail pharmacy instant clinic Low acuity office visits Pharmacy added instant clinic in north end of county 6 months ago Loss of patients from primary care physicians practices Technology Addition of e-visits by large hospital system in adjoining county has drawn more market share to their physician practices. Regulatory Changes Health care reform through the Affordable Care Act has increased the number of patients with some form of insurance payment. These patients are now seeking care in greater numbers from a primary care physician. Community Hospital currently struggles with accommodating patient scheduling requests to establish care with a primary care physician. Financial summary This year Last year Operating Revenues Net revenues from services to patients 343,737,280 344,726,245 Other operating revenues 16,846,309 20,311,534 Total operating revenues 360,583,589 365,037,779 Operating Expenses Salaries and benefits 192,053,379 182,853,245 Supplies and other expenses 130,173,477 135,560,131 Depreciation 18,969,799 20,644,157 Interest 2,695,623 2,226,437 Foundation 628,184 1,182,308 Total operating expenses 344,520,462 342,466,278 Income from Operations 16,063,127 22,571,501 Urgent Care Location Options Location One is located at a strip mall on the north side of town with a twenty-minute drive to the main Community Hospital campus. The potential lease space is a vacant storefront that previously housed a video store. The building is mostly an empty shell that would require $30,000 in renovation to create acceptable medical office space with four exam rooms. Lease cost of location is $3,000 per month for a total of 1,800 square feet. Utilities are not included in the lease rate. Location Two is located at a strip mall location on the south side of town with a thirty-minute drive to the main Community Hospital campus. The lease space is a vacant grocery store. The building is mostly an empty shell that would require $35,000 in renovation to create acceptable medical office space with four exam rooms. However, the total space is very large, at 5,000 square feet, so there are other options available that could also be housed in that space. Lease cost of location is $6,500 per month for a total of 5,000 square feet. Utilities are not included in the lease rate. The owner is not willing to subdivide the space for lease by multiple parties. ? ? ? .Answer Preview.. Introduction ??????????? In a scenario where the Community Hospital seeks to expand its services and also to improve the quality of its healthcare facilities, the best business plan for the organization to use would be the strategic business plan. The APA 217 words ? Related Questions: You have a friend who is a mental health practitioner. He or she was invited to attend the bar mitzvah of a thirteen-year-old child he or she is treating. Health belief model What would be a reasonable evaluation strategy for patient education? Healthcare Data and Information Discussion Dyslexia and mild central nervous system impairment Question Selling Medical Ultrasound Technology in Asia
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
