HUO Financial Growth Proposal to Set up A Fitness Studio Report Essay

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Business Finance

Herzing University Online

Description


Instructions

In the field of health care, one thing is for certain: innovation will continue to grow exponentially. "..Most of the innovations that healthcare leaders say they are excited about have less to do with medical advances and more to do with improving how health care is accessed, provided, and paid for in this country" (Phillips, 2015). Understanding how to support and move forward with this growth is essential for a health care manager.

Research and prepare a proposal to address the following health care topic/issue:

  • An assisted living center wants to add a fitness studio, staffed by licensed Physical Therapists.

You will need to use a document template for this assignment. Templates may be found by searching Microsoft Word. A few examples include the "Business Plan" and "Project Scope Report" templates. You will need to edit the template headers to be applicable to this assignment, but retain the overall design elements to create a clean, professional-looking document.

Use the following outline within your template. Bolded items should be used as section headings. Additional subcategories may be included:

  • Executive Summary
    • What is being proposed?
  • Proposal Description
    • Supporting documentation: basic financials (ex: purchase price, lease or buy options, average reimbursement rates, etc.)
  • Market Assessment
    • Utilization of the product or service
  • Financial & Risk Analysis
    • Provide a clear picture of revenues, expenses, profits, etc.
    • How will the project be financed?
    • What is the expected ROI?
    • What is the financial risk? (include how risk is calculated)
  • Recommendation
    • Is this a viable option?
    • How should the entity proceed?
  • On a separate page, include a minimum of three references, in APA format.

Please review the rubric to ensure that your assignment meets criteria.

Submit:

  • Financial Growth Proposal - Word document (.doc) or PDF

Reference: http://www.hfma.org/Leadership/E-Bulletins/2015/April/What_Will_Health_Care_Look_Like_in_5-15_Years_/ (Links to an external site.)

Rubric

HC306 Unit 7 Assignment - Financial Growth Proposal

HC306 Unit 7 Assignment - Financial Growth Proposal

CriteriaRatingsPts

This criterion is linked to a Learning OutcomeContent

35.0 pts

5

Demonstrates the ability to construct a clear and insightful problem statement/thesis statement/topic statement with evidence of all relevant contextual factors.

32.0 pts

4

Demonstrates the ability to construct a problem statement, thesis statement/topic statement with evidence of most relevant contextual factors, and problem statement is adequately detailed.

28.0 pts

3

Begins to demonstrate the ability to construct a problem statement/thesis statement/topic statement with evidence of most relevant contextual factors, but problem statement is superficial.

25.0 pts

2

Demonstrates a limited ability in identifying a problem statement/thesis statement/topic statement or related contextual factors.

21.0 pts

1

Demonstrates the ability to explain contextual facts but does not provide a defined statement.

0.0 pts

0

There is no evidence of a defined statement.

35.0 pts

This criterion is linked to a Learning OutcomeAnalysisPRICE-P

45.0 pts

5

Organizes and compares evidence to reveal insightful patterns, differences, or similarities related to focus.

41.0 pts

4

Organizes and interprets evidence to reveal patterns, differences, or similarities related to focus.

36.0 pts

3

Organizes and describes evidence according to patterns, differences, or similarities related to focus.

31.0 pts

2

Organizes evidence, but the organization is not effective in revealing patterns, differences, or similarities.

27.0 pts

1

Describes evidence, but it is not organized and/ or is unrelated to focus.

0.0 pts

0

Lists evidence, but it is not organized and/ or is unrelated to focus.

45.0 pts

This criterion is linked to a Learning OutcomeWriting

10.0 pts

5

The paper exhibits a excellent command of written English language conventions. The paper has no errors in mechanics, grammar, or spelling.

9.0 pts

4

The paper exhibits a good command of written English language conventions. The paper has no errors in mechanics, or spelling with minor grammatical errors that impair the flow of communication.

8.0 pts

3

The paper exhibits a basic command of written English language conventions. The paper has minor errors in mechanics, grammar, or spelling that impact the flow of communication.

7.0 pts

2

The paper exhibits a limited command of written English language conventions. The paper has frequent errors in mechanics, grammar, or spelling that impede the flow of communication.

6.0 pts

1

The paper exhibits little command of written English language conventions. The paper has errors in mechanics, grammar, or spelling that cause the reader to stop and reread parts of the writing to discern meaning.

0.0 pts

0

The paper does not demonstrate command of written English language conventions. The paper has multiple errors in mechanics, grammar, or spelling that cause the reader difficulty discerning the meaning.

10.0 pts

This criterion is linked to a Learning OutcomeAPAPRICE-I

10.0 pts

5

The required APA elements are all included with correct formatting, including in-text citations and references.

9.0 pts

4

The required APA elements are all included with minor formatting errors, including in-text citations and references.

8.0 pts

3

The required APA elements are all included with multiple formatting errors, including in-text citations and references.

7.0 pts

2

The required APA elements are not all included. AND/OR there are major formatting errors, including in-text citations and references.

6.0 pts

1

Several APA elements are missing. The errors in formatting demonstrate limited understanding of APA guidelines, in-text-citations, and references.

0.0 pts

0

There is little to no evidence of APA formatting. AND/OR there are no in-text citations AND/OR references.

10.0 pts

User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Attached.

PROPOSAL TO SET UP A FITNESS STUDIO
20/10/2020

ABSTRACT
This proposal aims to present a program to provide the old and disabled in society with
physiological services at disposal. The program will also diversify the contribution of physical
therapists to our communities. Individuals in the assisted living center will evaluate their general
well-being, fitness, and primary health upon which the physical therapists will offer
recommendations as appropriate. Additionally, physical therapists will also schedule and help
clients exercise; they will also follow up to know their progress. Physical therapy is a form of
rehabilitative health that uses special equipment and designed exercises to improve or regain
physical activity (Siemonsma, Blom, Hofstetter, van Hespen, Gussekloo, Drewes & Meeteren,
2018).
A physical therapist is a licensed and trained medical personnel with experience in
restoring mobility and physical function, identifying physical abnormalities, promoting proper
function and physical activity, and upholding physical position. Physical therapy is an essential
component of healthcare appropriate for children born with musculoskeletal defects to adults
with effects of surgery or injury, adults with sciatica issues, and old post-stroke individuals.
Physical therapy takes a direct and personal approach to meeting the client's health needs. For
patients with problems resulting from diseases or injury, physical therapy facilitates recovery.
Physical therapy makes patients more mobile, more muscular, relief their pain, helping them
return to work or recreation, and retain the injured area. Physical therapy is essential in helping

1

shorten the rehabilitation period of patients. Self-care and home-care are crucial elements of
every patient's treatments.

1. Executive Summary
A fitness studio is a unique facility focused on providing lifestyle enhancement to
clients in an adult-oriented environment yet a friendly one. As a first-class facility, the
studio will offer the most incredible attention and personal service to all members. The
facility will customize programs to match the needs of all members, from beginners to
professionals. The fitness studio's mission will be to provide nutritional solutions and firstclass fitness to enhance members' well-being.

2. Proposal Description
The state of health care crisis in our country, coupled with present demographic
conditions, threatens employee productivity and increases the problem. These conditions
signal a favorable market condition for setting up this fitness center (Anastasiia, 2019).
This innovation bases on the fact that it costs less to avert an illness or injury than to cure
it. Additionally, healthy workers are more productive than sick ones. Traditional efforts
towards contemporary health care issues are inappropriate; prevention is the way to go,
promoting good health for all. This approach emphasizes promoting good health and
promotion; it is proactive and will yield enormous benefits for this living center.

2

The General start-up costs of setting up a fitness studio include costs
associated with acquiring a business permit, which costs around $2,000. The type of
equipment needed depends on the services to be offered within the studio. The
Primary required physical therapy is treatment tables, which retail at around $1,500.
Treadmills retail at about $1,800, an upright bicycle at $800. Heart-beat monitors
retail at approximately $150. Other equipment that may be needed is the ultrasound
muscle simulator, which costs $3,600 each. This new venture may begin with on a
small scale, then be built into expansion in the future. The fitness studio can be set
up within the living center, and future growth is in a leased space for at least ten
years. Staff for the new facility should be paid on a commission basis. This is the
ideal payment option; it will encourage the physical therapist to create their clients.
However, the commission basis remuneration method should be adopted after the
fifth month when the business is perfectly set—the average salary for a therapist is
$82,000

3. Market Assessment
The country's fitness industry has been experiencing tremendous growth, with
revenues in this industry totaling 3,564,548.67 USD annually. Membership in these fitness
facilities is roughly 25% of the population. Personal training is the leading segment of
Physical therapy. This trend is expected to extend over the years. The competition within
the fitness industry is vast, fragmented, and diverse. The number of fitness studios is
increasing rapidly, especially in the densely populated states. The fitness market has

3

become more specialized, providing unique and varied services to members. The industry
of more specialized fitness services is not enough to sustain the rising demand.
With the rising uncertainty and the future of the healthcare system, an opportunity
exists in psychotherapy. The increased incidents of chronic illnesses, obesity, and injury
inspire the need for a medically integrated, outcome-based, and preventable mode of
medical fitness. Exercise and healthy eating play an essential role in the prevention and
treatment of chronic illnesses (Ardern, Glasgow, Schneiders, Witvrouw, Clarsen, Cools &
Mutch, 2016). Setting up a fitting studio will combine physiology and medicine and body
endocrinology to develop a healthcare model that restores vitality and health in patients,
creates permanent outcomes, and heals degenerative health issues.
Adding physiotherapy in the assisted living center is an excellent approach towards
expanding the service's roster. Annually, millions of individuals handle injury recovery
(Ardern, Glasgow, Schneiders, Witvrouw, Clarsen, Cools & Mutch, 2016). Additionally,
the demand for physical therapy is rising. Moreover, patients who have suffered injuries
fear hurting themselves again, are embarrassed to ask help from neighbors, and are
nervous; offering a fitness studio with well-trained personnel is key in encouraging clients
currently or those who have suffered an injury (Van De Graaf, Noorduyn, Willigenburg,
Butter, De Gast, Mol & Poolman, 2018). The fitness studio will provide such persons a
staff to help them manage their pain, improve mobility, and sustain them in the path
towards full recovery.
A fitness studio staffed with licensed physical therapists will facilitate the
customization of a therapy program to encourage lifestyle changes and activities necessary
to improve the overall well-being and prevent further injury. P...


Anonymous
Just what I was looking for! Super helpful.

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