Healthcare Firm Proposal The proposal for my healthcare firm is that it will be a firm that is predicated upon providing the most optimal service and care for patients using the most up-to-date technology and highly trained staff to provide patients with the necessary assistance to attain wellness and recover from any illness while also promulgating preventive treatment. Services and/or Products Offered The services that will be offered by the healthcare firm will include the following Turnkey on-site medication dispensing program, Cost control spine surgery solutions, and Durable Medical Equipment customized to the needs of hospitals and medical providers. The model will be predicated upon providing breaking technology that …show more content…
The business plan is placated upon ensuring the business is solvent and remains a monetary earner for the company's bottom line. Key competencies and skills must be established for the business plan and the plan must be comprehensive, systematic, and visionary. Difference between Strategic Plan and Business Plan The difference between strategic plans and business plans are that strategic plans groom the CEO for the job that will be necessary while business plans identify the goals and objectives that Must be met for the CEO to efficiently carry out his or her role. Strategic plans explain how transitions will occur that enable internal and external stakeholders to implement the necessary steps for financial planning that will keep the business solvent. Force and Focus The firm will concentrate its business in one city with its products and services, and will always entered new markets with the goal of becoming the dominant firm in its product and services area. Therefore, the firm will opened up 20 stores in one city. Distinguish is the driving
As strategy consultants of McCormick & Associates, we use Porters Five Forces Model as a framework when making a qualitative evaluation of a firm's strategic position (Appendix 1.2). These five forces determine the competitive intensity and therefore attractiveness of a market. These forces affect the ability of a company to serve its customers and make a profit. A change in any of the forces normally requires a company to re-assess the market place.
In addition to this business plan, we must also address the financial issues plaguing this organization. To illustrate some of these issues lets look at some of the trends here at OCB and within our Industry: For example, OCB’s clinic operations profitability in 1990 was 60%, and now in 1996 our profitability is only 37%, which is down 23 percentage points! We can blame some of this on rising costs of overhead, consumables, etc, however this is happening as the industry as a whole is growing 5% annually, and as our customer base, largely senior citizens, population is growing at almost 1% as year. We should be capitalizing on these industry trends, however, as you all know, not all the trends work in our favor. For example, our lifeblood, the Insurance company’s managed care organizations, and government healthcare reimbursement programs shows a downward trend of allowable payments for our services (DRGs) For example in 1995 the DRG price of ...
The strategic plan is planned those who influence resources and understand how a set of tactics work together, it is identifying and setting a vision. On the other hand tactical planning utilizes the resources to achieve the goals and support the vision. Those doing this type of planning face having to plan the usage of limited resources into actions to achieve a set of goals. I don’t think the two can really be separated, but rather they go hand in hand (Owyang).
The company has several locations within the community and also has it IT operations based out of the city. As the Baby Boomer population hits retirement age (approximately 10,000/day) and due to the more medical complex patients we are seeing, it will give rise to more volume in the healthcare industry in the near future ("Are Medicare Patients," 2012). In our current market approximately 1000 patients per year come onto Medicare based on out Dixon Hughes data that note a 1.87% (CAGAR) or compounded annual growth rate.
The United States is projected to spend nearly 20 percent of the Gross Domestic Product on healthcare by 2020.According to a Mckinsey study $447 billion of the 1.7 trillion the U.S. spent on healthcare in 2003 was in excess of what it should have spent based on its wealth. A 1 % increase in the rate of health-spending results in an increase of about $2 trillion in spending on health over the next 10 years.
Over the last 5 years the healthcare system has begun to transform. This transformation includes a focus change to preventative care to the new health conscious consumers and the reduction of healthcare costs (PR Newswire, 2013). This change comes from the consumers of healthcare as well as new laws such as the Patient Protection and Affordable Care Act (PPACA). This has created a need for hospitals to enter in partnerships to create hospital systems such as Centura Health. These hospital systems are expanding the continuum of care to include everything from preventative care, emergency care, and finally end-of-life care. This creates a need to monitor competition and create ideation plans to increase likelihood the consumer will use Centura Health over the competitors.
With the added income generated from the continuous process improvements Dr. Martin has additional strategic plans. One strategic goal of Dr. Martin’s is carrying out a major renovation in the waiting and examination areas. With his floor plan modified, he wishes to expand his clinic into a 3-physician group and if possible rent out some space to physical therapist in order to generate some more income. This will also be achievable through the additional profits that he will get from the implementation of EHR system i.e. through more customer retention due to improvement in the patient
I am writing you this memo to provide you with information that you requested about a possible investment opportunity in the healthcare industry. Specifically in the emergency/outpatient care centers and healthcare providers in the United States and within Europe. The primary purpose is to analyze these healthcare industries, using SWOT: strengths, weaknesses, opportunities and threats. By using this system, we can analyze the present and future state of the industry, and predict its possible growth patterns. This information will assist you in deciding whether to invest in this industry or not.
Healthcare administrator may not be a title that most people think of when looking at professions in the medical field. However, this can be a very rewarding position. Those beginning their education in the field, like me, will see that it requires a good amount of education and certification. Certain personality traits may be beneficial
1- America’s founding documents establish support for citizens’ right to equal health care, and the right to health care is an internationally recognized human right.
Strategic Planning is looking at where you are now, knowing where you want to be in the future and planning the steps to get you there.
Strategic Planning results in a written document that serves as a blueprint to guide the organization towards its future goals, but far more important than the strategic plan document, is the strategic planning process itself.
Strategic planning has a focus on stabilizing the current environment, and it also support the organization's business plans and goals. Strategic planning helps to implement new projects, new technology, consolidation of data centers, data warehouses, exponential data growth, cost of ownership, and resources available in an organization to assess the future requirements. Strategic planning analyzes the business plan, potential blockage or other issues in the current architecture, processes and their implementation in new initiatives, and processes. Strategic planning helps to formulate the ideas about the key factors that are affecting the present and future development of the organization and the opportunities offered by the environment and the competence of the organization.
Strategic planning implies establishing in advance what an individual or organization wants to achieve within a specified timeframe and deriving ways on how to achieve that. A strategic plan is basically a course of action that is used to attain desired results. It means anticipating the future and having measures on how to grow into the future. Technology is a macroeconomic factor that is rapidly growing and changing. Technology has had positive effects all over across the globe to business organization and to individuals.
Business plans are documents used for planning out specific details about your business.Business plans have importance and purpose for the success of the business however.Here are a few of the importance and main purpose of why we need a business plan in order to start a business. Business plan will guide us as an entrepreneur in how to handle and manage our business and company. It very useful in clarify direction , future vision , attract financing , attract team members and last but not least is to manage company.Moreover , the information gathered regarding the project is used in the Business Plan to predict viability , forecast success and propose strategies for the project .