Business Plan Development

Business Plan Development

Business description

      MEDSPAN clinic will be based in Overland Park, a city with an estimated population of 173,372. Patients at the new clinic will be served by highly qualified Nurse practitioners. There will be the provision of a variety of primary care services serving individuals from all the age groups. The services will include disease diagnoses, management of chronic and acute illnesses, physical referrals, health education and promotions. The clinic will run from 10 am to 8 pm. Therefore, patients will be served for 10 hours in a day. For the clinic to guarantee provision of quality services, a protocol doctor will be outsourced once in every month to review the quality and avail advice on the necessary quality improvements.

I will be the sole owner of the business initially, but later, other nursing practitioners who may be interested in joining in future will be welcomed. The business will be registered by the State of Kansas as a Limited Liability Corporation (Franklin, 2013).

Marketing plan

          As a new facility, our marketing plan will entail informing the public about our presence and all the affordable services that we will be offering. We will utilize a local newspaper and our new Facebook page to reach out to our target customers. During the opening ceremony, we will invite key organizations in the area as well as the public. In the same opening day, we will collaborate with the non-governmental organizations to offer free screening for the people in attendance as a way of gaining public confidence.

 

Human Resource Plan

       As the owner and a nursing practitioner, I will work for 40hours in a week assisted by 3 part time nurse practitioners each working for 25 hours in a week with an hourly pay of $40. I will also have two additional practical nurses who are licensed and will work for 30 hours in a week and will be paid $15 per hour. I will also hire one person to work as a clerical and handle patient reception as well as the medical records. The clerical staff should have a diploma in medical records and will work for 40 hours in a week at a rate of $10 per hour. The clinic will also have an accountant who will be paid 15$ per hour for the 20 hours he will be working in a week.

The projected wages and salaries are $220,800 for the first year. In the second year, the projected salaries will be $231840 which is a reflection of a 5 percent increase. In the third year, the projected amount of wages will be $ 259660, an increase of 12 percent (Wunderlich & National Research Council U.S., 2010). Initially the business will not be providing insurance to the employees a majority of whom are hired on a temporary basis. The decision on whether to pay insurance to the employees will, however, be reviewed as the business grows and the profit margin increases.

Building costs

     The clinic will start operating in rented premises and therefore there are no costs of building a structure. The rent will cost $ 30000 per annum. The cost of painting and maintenance per annum is estimated at $1500. (Brijs, 2013).

 

 Legal fees and licensing

The Reynolds Law Firm, LLC, will be contracted to ensure that our business is registered and obtains all the permits by law in Kansas. The total legal fees including payment of registration fees will amount to $3000.

Continuing education expenses

      The nurses and other personnel working in the facility will be facilitated for short courses that are expected to cost the business $3000 inclusive of hiring external facilitators who will be invited for seminars.

Utilities and other overhead expenses

The business will purchase the following office equipment for the quoted costs (Pearson,  Yung,  & Kanopy,2014).

Three computers     $2500

2 phones          $200

Fax                   $150

The office supplies will be as follows per month

Stationery   $200

Magazines $45

Furniture

Three desks and five chairs for the staff $1500

Book shelves                                   $1000

Waiting room chairs and Tables $2000

Supply Cabinet                             $600

Examination tables (2)                $1700

The cost of exam equipment

Blood pressure cuffs                  $300

Ophthalmoscope                      $265

Electronic thermometers(2)  $300

Adult scale                                $370

Baby Scale                               $250

Additional equipment

Linens and service             $155.

A peak flow meter                 $98.

Pulse oximeter                   $95.

Anoscope                           $ 300.

Nebulizer                           $100.

EKG machine                    $3000.

Hemoque                          $120.

Glucometer                        $100.

Cholestech LDX                $2000.

Microscope                        $1000.

Miscellaneous supplies

Exam table paper (2)          $20.

Hand Sanitizer                     $18

Bandaids                             $9

Alcohol wipes 500 pads      $20.

Gauze                                  $20.

Lubricant                             $ 25.

Gloves 6 boxes                    $ 60.

Lancets                                $20.

Glucose strips/25 tests         $30.

Suture sets/ 6sets                  $300.

Gyn cultures

Speculums 5 boxes of 10     $ 60.

The projected monthly income

       The clinic will serve an estimated 50 patients per day for the five days it will operate. Each patient is expected to spend $200. The monthly income projected is $200,000 from where the expenses will be deducted for each month. The profit is expected to exceed $120,000 (Waxman, 2013).

References

Brijs, B. (2013). Business analysis for business intelligence. Boca Raton, FL: CRC Press.

Franklin, D. M. (2013). Nursing homes explained. New York: Algora Pub.). Nursing equipment demonstration series.

Waxman, K. T. (2013). Financial and business management for the doctor of nursing practice. New York, NY: Springer Publishing Company, LLC.

Wunderlich, G. S., & National Research Council (U.S.). (2010). Improving health care cost projections for the Medicare population: Summary of a workshop. Washington, DC: National Academies Press.

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