Business plan report and presentation
College of Business “Your Health, Our Emergency” ALSHIFA laboratory 1 Contents Sr.NO. 1 2 3 4 5 6 7 8 Description Executive Summary Company Description Marketing Plan Management Plan Operational Plan Financial Plan Legal and Risk Management Plan Funding Sources Page No 4 5 7 10 13 15 17 19 2 1- Executive Summary We present to you the medical laboratory “Your Health, Our Emergency” ALSHIFA laboratory in Al Buraimi Governorate, aiming to revolutionize healthcare by combining advanced diagnostics with an artificial intelligence platform. By focusing on diabetes, kidney, and liver function, our services provide comprehensive insights. The AI platform ensures fast and accurate analysis and is accessible 24/7. Our services target the diverse demographics of Al Buraimi and nearby areas and cater to all age groups and income levels. Providing high-quality and accurate tests in addition to the accuracy and quality of reports, and analysis based on artificial intelligence, we make home visits to take samples and deliver the results, and flexible payment options enhance accessibility. Our commitment is to provide quality services with a personal touch. Using the latest technology and skilled technicians, our laboratory promises accurate results. AIdriven analysis, flexible pricing, and personalized treatment plans are what set us apart. We prioritize patient experience, reducing the risk of human error and providing rapid responses. Buraimi Governorate, with its growing population and limited comprehensive laboratories, provides an ideal launching pad. Although there are competitors, our AI-powered diagnostics provide a unique advantage. We expect to grow by addressing unmet healthcare needs. Competitive pricing, annual packages, and strategic discounts make up our pricing strategy. Our unique selling points include AI-powered accuracy, affordability, service at the door step and online availability of reports. Partnerships with insurance companies enhance accessibility. By adapting to market trends, our phased approach begins with basic pathology testing and extends to advanced services such as MRI, CT and others. Promotional campaigns, social media, and collaboration will drive initial sales, with a focus on providing advanced services in later stages. Obtaining approvals from the governing bodies of private health institutions is crucial for compliance. Recognizing cash flow fluctuations, we plan strategic upgrades during the lean months. Revenues are expected to grow steadily during the first year, ensuring financial stability and sustainable operations. The “Your Health, Our Emergency” program aims to redefine the accessibility and accuracy of healthcare in Buraimi Governorate, by blending technology with personalized patient attention. 3 2- COMPANY DESCRIPTION: A. Name of the Company: ALSHIFA Laboratory “Your Health, Our Emergency” B. Vision of the Company: To become a pioneering healthcare solution in Al Buraimi Governorate and beyond, utilizing advanced technology for precise diagnostics laboratory tests and fostering a healthier community. C. Mission of the Company: To provide accessible, accurate, and affordable medical test services, integrating artificial intelligence to enhance diagnostic capabilities and improved patient satsfaction. D. Goals and Objectives: 1. Short-Term Goals: • • • Establish the laboratory in Al Buraimi Governorate. Build a strong customer base through effective marketing strategies. Launch routine pathology services within the first six months. 2. Medium-Term Goals: • • • Expand services to include MRI and CT scans in the second phase. Achieve recognition as a reliable and efficient medical laboratory. Serve neighboring governorates and increase market share. 3. Long-Term Goals: • • • Evolve into an integrated medical center, offering a comprehensive range of healthcare services. Collaborate with specialized hospitals and healthcare facilities. Contribute to advancing healthcare in Oman through innovation and technology. E. Description of Products and Services: • • • • • Comprehensive tests for diabetes, kidney, and liver functions. Detection of various lipid diseases and measurement of heart enzymes. Analysis of ionic salts in blood and urine using scientific principles. AI-backed data analysis for accurate and quick results. Home laboratory services, annual subscriptions, and insurance coverage options. 4 • Future expansion to include MRI and CT scans. F. Logo: The logo reflects our commitment to precision, innovation, and healthcare. It features a stylized medical emblem intertwined with modern technological elements, symbolizing our integration of AI in the Medical field. G. SWOT Analysis: STRENGTHS • • • WEAKNESSES • Advanced AI technology for accurate and rapid diagnostics. Comprehensive range of pathology services. Competitive pricing and flexible payment options. • OPPORTUNITIES • • • Initial challenges in building brand awareness. Dependence on technological infrastructure. THREATS • Growing demand for advanced pathology services in Al Buraimi. Potential to expand services to neighboring governorates and UAE Collaboration opportunities with insurance companies. • • Competition from existing medical facilities. Regulatory challenges in obtaining necessary approvals. External factors impacting healthcare trends. This SWOT analysis guides our strategic decisions, enabling us to capitalize on strengths, address weaknesses, seize opportunities, and mitigate potential threats in the dynamic healthcare industry. 5 3- MARKETING PLAN A. Market Segment and Target Market: Market segmentation Target Market • • Individuals of all ages. Residents of Al Buraimi Governorate and its nearby areas • Those looking for routine services and advanced diagnostics. • Both genders with a focus on families and individuals with chronic health conditions. • • • Residents of Al Buraimi Governorate and nearby areas. Individuals require routine health checkups. Patients with chronic diseases seek accurate and affordable diagnostics. Families looking for comprehensive healthcare services. Customers and Buyers Customers • • • Buyers • • • • Patients. healthcare providers. institutions. Individuals Administrators. company insurance procurement personnel handling the acquisition of pathology services for your lab. B. Competitive Advantage: Features • • • Benefits • AI-Backed Diagnostics: Utilization of advanced artificial intelligence for precise and rapid analysis. Comprehensive Test Range: Offering a wide array of pathology services, from routine to advanced diagnostics. Home Laboratory Services: Convenience through home visits for sample collection. • • 6 Accuracy: AI-driven diagnostics ensure highly accurate test results. Affordability: Competitive pricing and flexible payment options make healthcare accessible to a broad audience. Convenience: Home laboratory services reduce the need for patients to travel. • • • 24/7 Access: Accessible services round the clock, including weekends. Flexible Payment Options: Affordable pricing, installment plans, and various payment methods. • Comprehensive Reports: Detailed reports facilitate effective communication between doctors and patients. Early Detection: Comprehensive tests aid in the early detection of health issues, crucial for timely intervention. C. Marketing Strategy (4 Ps): ✓ Product: o Pathological and Medical Testing o Positioning: Position “Your Health, Our Emergency” as the leading medical laboratory in Al Buraimi Governorate. It will offer quality and advanced diagnostics through AI technology. o Product Development: Continuous enhancement of services, with plans to introduce MRI and CT scans. ✓ Price: o Pricing Strategy: Competitive and affordable pricing to attract a broad customer base. o Discounts: Special offers during weekends and promotional events. o Payment Options: Flexible installment plans and payment choices, including insurance coverage. ✓ Place: o Location: Strategic placement within Al Buraimi Governorate for easy accessibility. o Home Laboratory Services: Outreach to bedridden patients and those unable to visit the laboratory. o Expansion Plans: Future expansion to neighboring governorates. ✓ Promotion: o Advertising: Utilize TV, radio, social media platforms, and local newspapers to create awareness. o Digital Marketing: Leverage online platforms for targeted promotions, including Instagram, Snapchat, and YouTube. 7 o Collaborations: Partner with influencers and collaborate with healthcare institutions for mutual promotion. o Promotional Campaigns: Periodic discounts, referral discounts, and special packages during health awareness events. This comprehensive marketing plan aims to establish “Your Health, Our Emergency” as a trusted healthcare provider in Al Buraimi Governorate and beyond, emphasizing accuracy, affordability, and accessibility. 8 4- Management Plan i. Organizational Structure: Our organizational structure is designed to ensure efficient operations, effective communication, and optimal customer service. The hierarchy is as follows. Manager Laboratory Technicians IT Technician Receptionist ii. Ownership Information: Name of Owner: 1- Fatma Rashid Mohammed Almamari. Name of owner Position Fatma Rashid Mohammed Almamari Owner Knowledge, Skills, Qualifications, and Relevant Experience extensive knowledge in healthcare management, having pursued a relevant academic background in addition to practical experience. Skills include strategic planning, business development, and a commitment to leveraging technology for enhanced healthcare services. Relevant Experience: – Academic background in healthcare management. – Previous experience in healthcare administration. – Knowledge of advanced diagnostic technologies. 9 – Understanding of market trends and consumer needs in the healthcare sector. ii. Staffing: Our staffing plan involves recruiting qualified professionals who align with our commitment to quality healthcare services. Key positions include: Name of Position Employee 1 Manager 2 Laboratory Technicians 1 IT Technician: 1 Receptionist: Function Education Salary Supervises daily operations and Degree in ensures smooth workflow, ensuring business quality work and results administration and management. Oversees daily operations, Degree in science coordinates with the technical in medical team, and ensures smooth laboratories workflow, ensuring that the devices are accurate and working accurately and checking the results and reports. Maintaining and troubleshooting IT Degree in It and systems, ensuring the smooth AI operation of the AI platform. Daily examination of the artificial intelligence platform, and ensure the accuracy of the results, and the confidentiality of the data customer service and has excellent Secondary school communication skills and knowledge of healthcare operations. He works by receiving patients, knowing the service they want, delivering results, giving appointments, and responding to referrals’ calls and inquiries 24/7. TOTAL SALARY 500 OR 500 OMR 250 OMR 300 OMR 2050 OMR 10 Training and Development: Continuous training programs will be implemented to keep our staff updated on the latest advancements in pathology and healthcare technology. This ensures a highly skilled and adaptable team. Recruitment Strategy: Recruitment will focus on individuals with relevant qualifications, experience, and a commitment to our mission. Additionally, a diverse and inclusive workforce will be actively pursued to bring varied perspectives and enhance our ability to serve a diverse community. Employee Retention: Employee satisfaction will be prioritized through a positive work environment, competitive compensation, and opportunities for professional growth. Regular feedback sessions and recognition programs will contribute to a motivated and engaged team. This management plan aims to establish a capable and committed team, aligning with the vision of “Your Health, Our Emergency.” 11 5- Operational plan I. Business Premises and Location: Our laboratory will be strategically located in Al Buraimi Governorate, ensuring accessibility to the residents and neighboring areas. The premises will include a reception area, laboratory space, private offices, and facilities for sample collection. II. Plant and Equipment/Furniture: Sr Description of furniture/plan .No /Equipment Item Number Required Cost per Unit:/piece Total cost 1 Siemens Atellica Laboratory Machine Sysmex Machine (CBC Machine) Centrifuge: Pipettes micropipettes parafilm. Badges 1 OMR 9,264 OMR 9,264 Description = cost/life span of item 926.4 OMR 1 OMR 862 OMR 862 86.2 OMR 1 2 OMR 100 50 OMR OMR 100 100 OMR 10 OMR 10 OMR 10 12 OMR 120 OMR Label machine A building containing 2 offices and reception with toilet 2 computers WIFI Printer Electricity Water Cleaning tools TOTAL 1 1 142 OMR 100 OMR 142 OMR 100 OMR ** disposable use 14.2 OMR 50 OMR 2 1 1 1 1 3 250 OMR 25 OMR 10 OMR 30 OMR 20 OMR 50 OMR 10815 OMR 500 OMR 25 OMR 10 OMR 30 OMR 20 OMR 20 OMR 11293 OMR 100 OMR 12.5 OMR 10 OMR 30 OMR 20 OMR 10 OMR 1279.3 OMR 2 3 4 5 6 7 8 9 10 11 12 13 12 III. Production/Service Process: 1. Sample Collection: • • Trained staff will collect samples either at the laboratory or through home visits. Utilization of AI-backed platforms for efficient sample processing. 2. Diagnostic Testing: • • State-of-the-art equipment (Siemens Atellica, Sysmex) will conduct a range of pathology tests. AI technology will analyze and generate accurate results. 3. Result Reporting: • • Results will be stored securely in a dedicated file for each patient. Patients can access their results through a secure online platform using their civil number and password. Examples of Operational Costs: 1. Laboratory Consumables: • Reagents, pipettes, and testing materials. 2. IT System Maintenance: • Regular updates and maintenance of the AI platform. 3. Staff Training: • Continuous training programs to keep staff updated on the latest advancements. 4. Utilities: • Electricity, water, and internet costs. 5. Marketing and Promotion: • Costs associated with advertising, promotional events, and collaborations. 6. Quality Assurance: • Ensuring compliance with quality standards and certifications. 7. Transportation: • Costs related to sample transportation for home visits. 13 Detailed calculations for operational costs will be attached separately to provide a comprehensive overview of the financial requirements for the operational plan. 1 2 3 4 5 6 7 Name of the Activities Salary Monthly rent Electricity bill Water bill Wi-Fi bill Sample calactin equipment Home visit transporter Opening Balance Month 1 0 Month 2 600 CASH INFLOW Sales Business loan 1200 25000 CASH OUTFLOW Rent Salaries Marketing loan repayment Equipment Other outgoing Total outflows Total cost for a month 2050 OMR 100 OMR 30 OMR 20 OMR 25 OMR 200 OMR 10 OMR Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month 10 Month 11 Month 12 800 500 300 400 850 300 800 600 900 600 Total 6650 3000 0 2250 0 12000 0 12000 0 27000 0 27000 0 36000 0 60000 0 60000 0 60000 0 60000 0 360450 25000 100 2050 1000 0 10508 80 100 2050 1000 0 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 0 80 100 2050 1000 500 70 80 1200 24600 12000 5000 10578 960 39858 6830 6780 16230 15950 31130 31580 40030 64440 64240 64540 64240 441438 14 6- FINACIAL PLAN A. Sales Forecast: Sales Revenue Calculation: Sales in Units x Selling Price per Unit Months January February March April May June July August September October November December Total Sales Forecast (12 months) Expected Revenue per The expected test is done per day (OMR) day 20 2 tests Per day 50 2 tests Per day 75 3 tests Per day 100 4 tests Per day 100 4 tests Per day 150 6 tests Per day 150 6 tests Per day 150 8 tests Per day 200 10 tests Per day 200 10 tests Per day 200 10 tests Per day 200 10 tests Per day B. Startup Budget: i. Startup Financing: Nature of Funds (Own/Loan) Oman Development Bank Personal saving TOTAL Amount (OMR) 25000 OMR 2000 OMR 27000 OMR 15 Monthly Average Income 1200 OMR 3000 OMR 2250 OMR 12000 OMR 12000 OMR 27000 OMR 27000 OMR 36000 OR 60000 OMR 60000 OMR 60000 OMR 60000 OMR 360450 OMR 7- Legal and Risk Management Plan 1. Legal Structure: • • The laboratory will be established as a private healthcare institution under Omani laws and regulations. The legal structure will be a limited liability company (LLC). 2. Regulatory Compliance: • • Obtain necessary licenses and approvals from the Department of Private Health Institutions and other relevant authorities. Comply with the regulations set by the Ministry of Health for operating a medical laboratory. 3. Contracts and Agreements: • • Draft and review contracts with suppliers, service providers, and any third parties. Implement clear agreements with employees outlining roles, responsibilities, and confidentiality clauses. 4. Data Protection and Privacy: • • Implement robust data protection measures to ensure the confidentiality of patient information. Comply with data privacy laws and regulations applicable in Oman. 5. Insurance: • • Acquire comprehensive insurance coverage, including professional liability insurance, to mitigate risks associated with healthcare services. Ensure coverage for equipment, premises, and employees. 6. Risk Management: • • Identify potential risks related to the operation of the medical laboratory. Develop a risk management plan to mitigate and address identified risks. 7. Quality Assurance: • • Implement a quality assurance program to ensure adherence to industry standards and regulations. Regularly review and update processes to maintain high-quality healthcare services. 8. Emergency Preparedness: 16 • • Develop and implement emergency response plans for potential crises or unforeseen events. Conduct regular drills and training sessions to prepare staff for emergencies. 9. Legal Consultation: • • Seek legal counsel to stay informed about any changes in healthcare regulations or laws that may impact the laboratory’s operation. Consult with legal experts to address any legal challenges that may arise. 10. Document Retention and Compliance: • • Establish a system for proper document retention in compliance with legal requirements. Regularly review and update documentation to ensure compliance with changing regulations. 11. Intellectual Property Protection: • • Consider patenting or protecting any unique processes or technologies developed by the laboratory. Implement measures to safeguard intellectual property rights. 12. Employee Training on Compliance: • • Provide regular training to employees regarding legal and compliance matters. Ensure that employees are aware of their responsibilities in maintaining legal and ethical standards. This Legal and Risk Management Plan aims to create a solid foundation for the lawful and ethical operation of “Your Health, Our Emergency” Al SHIFA laboratory, mitigating potential risks and ensuring compliance with relevant regulations. 17 8- Funding Sources The Omani government always supports business ideas, especially in the medical field, and encourages innovation and development that leads to developing growth in Omani communities. This role is demonstrated through the Oman Development Bank, which finances private project owners with sums of money. It is one of the sources of project financing in the amount of 25,000 Omani Riyals, and the second source is personal savings in the amount of 2,000 Omani Riyals. Omani Riyal. The total cost of the laboratory equipment needed to conduct the tests is 10,438 riyals, of which 9,264 riyals is the value of the Dimension EXL device with the LM integrated chemistry system. The price of the CBC machine is 862 riyals, the centrifuge is 100 riyals, the micropipette machine is 50 riyals, the bags are 20 riyals, and the labeling machine is 142 riyals. The equipment needed to establish a medical laboratory is laboratory equipment costs A building containing 2 offices and reception with a toilet 100 OR monthly, 2 computers 500OR, WIFI 25 OR monthly, BRENTER 10 OR, Electricity 30 OR monthly, Water 20 OR monthly And Cleaning tools 20 OR, Total 805 OR. 18
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