Structure a Health Adams MedTech Family Care Business Plan

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Assignment #2: Health Care Business Plan Due: Week 11 November 6th @11:59pm(est) For this Assignment #2 “Heath Care Business Plan" you will have to complete a formal paper about your fictional Healthcare Business. The business plan must be related to the healthcare field (e.g., a doctor’s office, a home healthcare practice, a new hospital, etc.). This assignment is worth 100 points (20%) of your course weighted grade. A businesses plan basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make the right decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan package. Additionally, it can tell your sales personnel, suppliers and others about your operations and goals. Your business plan should precisely define your business, identify your goals and serves as your companies resume. Use the following questions below as a template and answer all questions. This paper requires correct grammar, punctuation, and APA format. This assignment is worth 100 points (20%) of your course grade. Points are for thorough content, creativity in the formal paper and correct use of APA format. You are required to have a minimum of Three (3) references and your references can be from refereed peer reviewed journal articles, textbooks, and or credible Internet sources. This assignment requires 10-20 pages (Excluding Title and Reference Page). The assignment should be APA format, typed and submitted on a Word Document, font size 12 font, font names that should be used are times new roman or Calabria (not both), normal margins (no more than 1 inch), double spaced. Do not wait to begin working on your business plan, as it will take some time to complete. The business plan should include the following components:     The name of your business A description of your business. Describe your idea; purpose, mission, vision, background information, and description of the product and or service. The business must be related to the healthcare field (e.g., a doctor’s office, a home healthcare practice, a new hospital, etc.) Discuss how your business will meet a significant marketplace need or solve a problem or challenge that currently exists in the community. Discuss why you believe it is worth pursuing. Targeted location (Where you would propose to establish this business and explain your reasoning). Market analysis: Define the target market for your idea, why you think it exists, what you believe to be the size of the market demand for your idea, and who your competitors will      be. Discuss how you would bring your product or service to market (how you would go about building or developing your product, service or idea into a real, tangible product or service that customers would want and buy). Perform a S.W.O.T. Analysis. Budget: Create a budget that shows and discuss what it would cost in terms of time and resources to bring it to market and make it available to the public. In doing so, outline your plans to manage revenue (compliance management), manufacture the product or perform the service (including the proposed manufacturing process or method of performing the service) and your projection of the production costs, which may include: material labor, employees, salaries, equipment facility, etc.). Discuss risks and or uncertainties within your proposal: Outline what you believe are the most significant risks and uncertainties that you are likely to experience in bringing your idea to market and discuss how you would deal with them. Marketing strategy: Discuss your marketing and sales strategies. In doing so, discuss: Your target market and how you plan to reach that market (e.g. distribution strategy, pricing strategy, promotion strategy). Discuss how your business will offer a unique value proposition and be able to sustain a competitive advantage in the market. Discuss your marketing plan and budget to promote the business online or offline. Discuss expected Profit and Return on Investments (ROI): Estimate the revenues you expect to earn, as well as the costs and expenses you expect to incur, and the resulting profits you would expect to earn over the first 3–5 years. Remember, even a non-profit business needs to be able to bring in enough revenues to cover its expenses. Estimate the amount of money you think would have to be invested to get your business started. Discuss your assessment of whether or not your business service is likely to be successful. Grading Rubric: Healthcare Business Plan Assignment This assignment requires 10-20 pages (Excluding Title and Reference Page). The assignment should be APA format, typed on a Word Document, font size 12 font, font names that should be used are times new roman or Calabria (not both), normal margins (no more than 1 inch), double spaced. Content Title Page : Student Name (First and Last) Student Panther ID Number Title of Business Plan Description of business Targeted location Market analysis Budget Risks/uncertainties discussed Marketing strategy Possible Points and Points granted 5 10 10 10 10 10 10 Expected Return on Investment (ROI) Expectation for success evaluated Reference Page: Proper APA format for Three (3) references and citations in the body of the presentation is seen. Citations/references can came from a refereed/peer review journal article, course textbook, and or an Internet source. College level writing seen which includes; Complete sentences, proper grammar, spelling, punctuation, mechanics and APA formatting Deductions: Turn It in Originality Report over 30%. Assignment on wrong document. Assignment minimum page count not met. Total 10 10 5 10 N/A 100 All students will have from the opening of the course until the assignment due date to submit each assignment required via turn it in assignment dropbox area. All students will have one attempt to submit each assignment required for the course. Therefore, it is very important that the student double check their work before they submit the final assignment for review and grading. If a student submit the wrong assignment to the turn it in assignment dropbox area it is subject to a “0” numeric grade. If a student submit a blank assignment to the turn it in assignment dropbox area it is subject to a “0” numeric grade. If a student submit the correct assignment to the wrong turn it in assignment dropbox area it is subject to a “0” numeric grade. If a student do not submit the assignment on the required software and or document for the assignment (refer to the assignment criteria) (example, a Microsoft word document, PowerPoint presentation (PPT) and or pdf /provide weblink for Prezi (PPT)), it is subject to a “0” numeric grade. If a student submit a recycled assignment (whether it be from another student in the same course, for another course, from a repeated course, student own work submitted to another course, someone else work submitted to another course, etc.) to the turn it in assignment dropbox area it is subject to a “0” numeric grade. No exceptions!!
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Student Name (First and Last)
Student Panther ID Number
ADAMS MEDTECH FAMILY CARE BUSINESS PLAN

1.0 Business Description
1.1 Sponsor
Adams MedTech Family Care is a healthcare establishment which will be located in Riverside,
Houston. The owner of the facility will be a sole proprietor Mr. Robertson who has a masters
degree in clinical medicine. The funding of the facility will mainly come from Robertson’s savings
which will cover all the startup expenses and finance all operations during the first month of the
business. Robertson will also source additional finances from his friends and family and will opt
to a loan from the national bank if need be.
1.2 Business Name
As stated earlier in the Sponsor section, the name of the Business will be Adams MedTech Family
Care. The name is chosen because it is a sole ownership business which will be owned by Adams
Robertson. The MedTech part of the name indicates that the business is a healthcare or medical
related business. The name of the company is very important not only to the owner of the business
but also to the public or community at large. The first name Adams is a recognition of the owner
himself and his good work of helping families with easily accessible and more affordable care.
1.3 Location and Address
Adams MedTech Family Care will be located at Riverside, Houston. This location will be within
the Houston city. Houston is known to many as a global city, with medicine, culture and research.
As such, the city is a very strategic area for businesses especially healthcare related ones. The
description of the city has attracted many people from different states who come in search of better
healthcare services. Other reasons for Houston being an ideal location are as follows;



Security- Houston’s neighborhood is very friendly and many families settle there. all parts
of the city are well secure as police conduct regular patrol. Therefore, Adams MedTech
will have little problems relating to security.



Accessibility- the facility will be situated almost to the outskirts of the city to make it
directly and easily accessible by the customers. The customers will not have problems
moving around the middle of the city in search of the facility and considering the presence
of huge buildings in the city. Locating it near the outskirts of the city will make it almost
direct to be located by new customers including those unfamiliar with the city premises.



Competition- the business will be located close to several other businesses offering similar
services. However, it will be in a good position to compete with the existing facilities due
to some set strategies. For example, the business will provide additional family care
services which are not currently offered in the community. it will also offer its care services
at a little cheaper price than it is in the existing facilities.

1.4 Form of Business
The business will operate under sole proprietorship. However, it will be a limited liability privately
owned corporation with such a sole ownership. The implication behind this business form is that
the business will be a simple healthcare facility but one which will permit its rapid and economic
growth and expansion to happen. The aim is to help the community acquire the scarce therapeutic
services (as will be detailed in the products section) at a fairly affordable price while sensibly
earning income for the business. The business is expected to start operation from next year January
1, 2022. The sole ownership is chosen because of the following reasons.


A sole proprietorship encourages quick decision making since the business owner is
independent and is his own boss. As such, the owner cannot argue with anyone over

business decisions and policies and cannot take time consulting other people for ideas about
his own business.


Sole proprietorship is entitled to more freedom compared to other forms of business.
Although every business is subjected to government regulations, a sole proprietor is only
required to meet a few of these regulations.



The business owner in a sole proprietorship can easily manage the business and protect the
company’s image since he keeps most secrets about the company to himself.

1.5 Products and Services
Adams MedTech Family care will offer care services including nursing care, occupational therapy,
speech-language therapy, medical social services and physical and occupation...

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