Project: Final Project – Business Plan
Business planning is a mapping of your vision for the future of an organization. As a health care administrator, it is important that you are able to create an effective business plan. For this Assignment, you examine the following scenario and develop a business plan for the organization.
Scenario:
St. Anne Hospital, a city-based non-profit community hospital, is looking at adding a diabetes treatment center (DTC) which will provide comprehensive diabetes care and education. This is in response to a population health needs assessment which identified a high rate of diabetes in the population surrounding the hospital. The population consists of 50% Hispanics, 25% Caucasians, 12% African American, and 13% recent immigrants from Northern Africa. Over 50% of the population is living within 200% or below of the poverty level. You have been asked to develop a business plan for the DTC which will be presented to St. Anne’s Board of Trustees.
The Final Project Assignment:
Using the “Week 11 Project Business Plan Template“, create a business plan (8–10 pages) that includes the following:
- Executive summary
- Program Overview
- Location
- Services
- Other professional offerings
- Staffing needs
- Operating model
- Market Profile
- Market overview
- Demand forecasting
- Financial analysis
- Capital requirements
- Reimbursement model
- Cost per patient visit
- Pro forma (See Assumptions for Diabetes Treatment Center and Diabetes Treatment Center Business Plan Excel Template. )
- Patient revenue
- Operating expenses
- Income from operations
- Total expenses
- Net cash flow
Note: The 8- to 10-page paper requirement, submitted as a Word document, does not include the title or reference pages. The pro forma should be included in the document by transferring the information from the Excel spreadsheet to the Word document. Your Assignment must be written in standard edited English. Be sure to support your work with specific citations from this module’s Learning Resources and additional scholarly sources as appropriate. Refer to the Essential Guide to APA Style for Walden Students to ensure that your in-text citations and reference list are correct. See the rubric for additional requirements related to research and scholarly writing.
By Day 7
Submit your Project.
Note: Submit your Word document to the Week 11 Project Part 1 submission link. Submit your Excel spreadsheet to the Week 11 Project Part 2 submission link.
Expert Solution Preview
Introduction:
As a medical professor, I understand the importance of creating effective business plans, especially in the healthcare industry. The following answer provides guidance on how to develop a business plan for a diabetes treatment center that is customized to meet the needs of patients from diverse backgrounds.
Answer:
To create a business plan for St. Anne Hospital’s diabetes treatment center (DTC), it is important to consider the unique needs of the population surrounding the hospital. This includes addressing the high prevalence of diabetes in the community, particularly among Hispanics and recent immigrants from Northern Africa.
The business plan should start with an executive summary that summarizes the key components of the plan, including the location of the DTC, services offered, staffing needs, and financial projections.
Next, the program overview should provide more detailed information on the location of the DTC, the specific services that will be offered, any additional professional offerings, and the operating model. This section should also outline the staffing needs of the DTC, including healthcare providers, administrative staff, and support staff.
The market profile should include an overview of the market and its demographics, including the prevalence of diabetes in the surrounding community and any trends that may impact the DTC. This section should also include demand forecasting to estimate the number of patients that will seek care at the DTC.
The financial analysis should outline the capital requirements of the DTC, including any startup costs or ongoing expenses. The reimbursement model should be clearly defined, including any payor sources that the DTC will work with. The cost per patient visit should be estimated, taking into account any unique considerations for the population being served.
Finally, the pro forma should include detailed financial projections for the DTC, including patient revenue, operating expenses, income from operations, total expenses, and net cash flow. A business plan Excel template should be used to assist in creating these projections.
It is important to note that the business plan should be written in clear, concise English and should be supported by specific citations from relevant scholarly sources. Proper APA formatting should be used for in-text citations and the reference list, and the paper should be reviewed for any errors in grammar or syntax before submission.
