Science : Project - You are creating a business plan to add an outpatient lab located on Local Hospital campus. This plan is being submitted to senior leadership of Local Hospital for consideration.

Team 1 Project Discussion Forum

You are creating a business plan to add an outpatient lab located on Local Hospital campus. This plan is being submitted to senior leadership of Local Hospital for consideration.

These two documents will provide you with the information that you need to complete this project. Use the assumptions given as the basis, and BE CREATIVE to complete the rest.

Expectations -

Team 1 Final Finance Project

Business Plan Format

For this assignment, you will need to construct your paper using the following outline:

  • Title page to include the title of your paper, team number, class, and team members.
  • Table of contents listing all of the major sections that I am listing.
  • Executive Summary- This is a one page summary of your entire project.You are submitting a plan to an executive team, so include the facts of the project.What do you want money for, how much, how much will you make, why, etc.Keep in mind, in the real world, this may be the only thing that they read.If it is not specific, the project is rejected!
  • Organizational Plan- This will talk about how you will structure as far as FTE's, Leadership, and how your proposed service ties into the mission of the hospital.
  • Marketing Segment -You can use some creative freedom here.What is the environment like, what is the competition for your service? How will you advertise? reach new clients? Who will you serve?
  • Financial Segment - Being a finance class, I expect this to be a focus.You need to discuss the assumptionslisted below that would relate to this section.You should discuss the financial situation, but then you will need to submit a 5 year cash flow document, along with any others that reflect the operation of the business.You should also include NVP and IRR calculations as a way to justify the project.
  • Conclusion - Like the Executive Summary, this is important to a proposal. It should be less than one page, and contain the facts of your proposal, and why it should be approved.You should include the information that you concluded about the 5 year financial performance.

General Assumptions

Types of assumptions required for the financial portion of a business plan typically include answers to the following questions (Example of Typical Income Statement Assumption Information Requirements):

  • What types of revenue?
  • How many services will be offered to produce the revenue? (per month)
  • How much labor will be required? (FTEs)
  • What will the labor cost?
  • How many and what type of supplies, drugs and/or devices will be required to offer the service?
  • What will the supplies, drugs and/or devices cost?
  • How much space will be required?
  • What will the required space occupancy cost?
  • Is special equipment required?
  • If so, how much will it cost?
  • Is staff training required to use the special equipment?
  • If so, how much time is required, and what will it cost?
  • Identify how many of the assumption items listed in the example above can be found incorporated into your business plan.

    Specific Assumptions

    Use the following information to fill in the Excel Sheet loaded in your discussion forum.It will calculate a lot of the information that is being asked.You just need to enter this in the sheet, and can use part of it for your final submission.

    Capital Expenses:

    • Medical Equipment - $350,000
    • Construction - $100,000
    • Furniture - $30,000
    • IT System - $50,000
    • Contingency – 10,000

    Year One Volume:

    • 57,500 Specimens
    • $18 net revenue per specimen

    Organizational Structure:

    • 1 Manager - $60 per hour
    • 3 Lab Technologists - $30 per hour
    • 2 Receptionists - $15 per hour
    • The manager reports to the existing Director of Operations, who reports to the CEO (already existing, so no cost)

    Expenses:

    • Medical Supplies – per unit - $4
    • Other Supplies – per unit - $1
    • Purchased Services (repair contracts for equipment) - $25,000 yr
    • Marketing - $45,000 yr
    • Licenses - $10,000 yr
    • Rent - $75,000 yr
    • Utilities - $3,500 yr

    Answers

    Related Questions

    Business Finance : Ford Motor Company discussion...

    Since its founding in 1973 as an outdoor apparel company, Patagonia was known for creativity and innovative approaches to many environmental issues. Y...

    Science : Mirror question...

    Please help me out with this confusing question! Why are images in a mirror flipped horizontally and not vertically? For example, although I wear my w...

    Humanities : Are we ever not doing gender? Es...

    This past week we have been focusing on gender. Gender is a fundamental social division. All around us we see differences between men and women (and g...

    Humanities : Sexual identity Presentation...

    hey hey I'm doing a assignment about the nature of human sexuality and I'm doing Identity and it has to be power point with 1- 2 slides and th...

    Humanities : How marijuana has modernized culinar...

    To explain how marijuana in the food industry specifically culinary arts field restursunts ,cafés, dispensers, and legalization of cannabis has affec...

    Humanities : Ricky and Morty discussion...

    Watch one episode of Rick and Morty. Season 3 episode 1 might be a good one, since the video "philosophy of szechuan sauce" covers this episode and ma...

    Writing : annotated bibliography...

    Need 3 references having to do with the attached prospectusSubject this week " the cost of employee turnover at the front desk night audit shift in th...

    Business Finance : I have a organizational change...

    Many people dislike change so choose a situation that you had to adapt to change. discuss how you approach the process of change. Choose a recent skil...

    Business Finance : Business question 1 - 2 page M...

    Question: Neal, a twelve-year old boy, buys a pair of skis from Outdoor Outfitters (“OO”). He tells the salesperson that he has never been skiing...

    Writing : Data Management Plan: Project Imaginar...

    All submissions must be in APA format and include reference materials to support your thinking. Project imaginary plan I want you to answer questions...

    Business Finance : Describe in 3 Paragraphs - Law...

    Anne is 10 years old and lives in a major metropolitan U.S. city and is currently in the 4th grade. Today, during gym class, Anne's teacher notice...

    Business Finance : Inflation Over A Lifetime disc...

    Just based on inflation, how much would we have to make today to buy the same items in the year you were born? Let's assume to buy a house in the...

    Science : Technology Trends Proposal Presentation...

    Imagine you work for a health care organization and have been asked to develop a proposal on how the organization might adopt a technology trend to im...

    Humanities : Discussion ?...

    Based on the course reading, those of you taking the Research drives practice side will argue that scientific research and emerging theories are the s...

    Writing : Please read the following and complete...

    make a proposal to improve something in a work setting by doing the following:Identify a problem or issue in a work setting that could be improved. W...

    Writing : art questions...

    (attached is what i initially submitted, she gave me an F. please use as reference to not make the same mistakes and know that she is a strict grader....

    Business Finance : December 17 2018...

    250 words (not including in-text citation and references as the word count) count a minimum of two scholarly sources are required in APA format. One f...

    Science : Discussion: Strategies for Managing Res...

    Your literature review sets the stage for everything else that you do in your dissertation. It is through this review that you determine the research...

    Business Finance : apply Factor Evaluation Matric...

    The purpose of this assignment is to apply Factor Evaluation Matrices as the basis for a strategic management study.Using both nonfinancial and financ...

    Humanities : History DBQ Essay and Two Others...

    This is a AP History assignment that has 3 essays.Please follow the prompt and follow the guidelines given. There is a rubric on the bottom of the pro...

    Mathematics : SPSS HELP: Building a Basic Data Se...

    The Assignment:Type in the data provided in the "Module 2 Application Data Set" to create an SPSS data set (ATTACHED).Pay specific attention to:Data t...

    Business Finance : Writing Assignment...

    Read the case entitled, "Should U.S. Imports of Prescription Drugs from Canada Be Widened" at the end of Chapter 7. Then, answer the following questio...

    Science : Informatics solution proposal...

    INSTRUCTION:Develop a proposal in which you evaluate the two specific products (CERNER AND EPIC).Your goal is to persuade the directors of the health...

    Science : 3 physics questions...

    1. A ball is thrown horizontally from a platform so that the initial height of the ball is 6.0m above the level ground below. The ball lands 24m from...

    If you didn't find the right answer

    Ask Your Questions, We'll notify you once someone answers it