This week you will continue working on creating a Business Plan for a

This week you will continue working on creating a Business Plan for a new health care organization. Please read the requirements of this discussion board carefully as it varies from our usual format. Page 312 of the eText explains that the following items are addressed in the Income Statement Assumptions section of a business plan: Revenue type/Revenue source(s) Revenue amount (e.g., as determined based on per patient, per visit, per month, per grant amount) Labor expenses Supply expenses Cost of drug or device expenses (if applicable) Equipment expenses Space occupancy expenses (e.g., rent, utilities) Overhead (insurance, etc.) For your original post: (1) remind us about your new health care business, (2) address the values that you have determined/assumed for each of the items above, and (3) explain how you came to determine/assume the values for each of the items listed above.

Expert Solution Preview

Introduction:
As a medical professor, one of my responsibilities is to prepare and evaluate the assignments and exams for medical college students. In this assignment, students are required to create a business plan for a new healthcare organization. The following are my answers to the provided questions.

1) Remind us about your new healthcare business:
The business plan for our new healthcare organization is centered around a community-based clinic that focuses on providing affordable primary care services to the underprivileged population. The clinic aims to provide a range of services, including preventative care, chronic disease management, and health education.

2) Address the values that you have determined/assumed for each of the items above:
Revenue type/Revenue source(s): The clinic will generate revenue through fee-for-service payments, insurance reimbursements, and grants. The revenue generated from fee-for-service will make up 60% of the total revenue, insurance reimbursements will make up 20%, and grants will constitute the remaining 20%.

Revenue amount: The revenue generated per patient visit will be $80. The clinic expects to serve around 2,000 patients in the first year, resulting in a total revenue of $160,000.

Labor expenses: The clinic will employ one physician, two nurses, and three administrative staff. The salary for the physician will be $150,000, the nurses will be paid $60,000 in total, and the administrative staff will be paid $90,000 in total.

Supply expenses: The supply expenses per patient visit are estimated to be $10, resulting in a total supply expense of $20,000 for 2,000 patient visits.

Cost of drug or device expenses (if applicable): The clinic plans to offer a limited number of prescription drugs and devices. The estimated cost for these items is $2,000.

Equipment expenses: The clinic needs to purchase basic medical equipment such as examination tables, blood pressure monitors, and other supplies. The estimated cost for this equipment is $20,000.

Space occupancy expenses (e.g., rent, utilities): The clinic will lease a facility and will pay $60,000 annually in rent and utility expenses.

Overhead (insurance, etc.): The estimated overhead expenses for the clinic are $10,000.

3) Explain how you came to determine/assume the values for each of the items listed above:
The values for each of the items were determined after conducting extensive research and analyzing the cost and revenue drivers for a community-based clinic. The revenue percentages were determined based on the expected behavior of insurance providers and grants, while the revenue per patient visit was based on the regional average for the services provided by the clinic.

The labor expenses were determined by taking into account the average salaries for the positions, as well as the expected workload for the staff members. The supply expenses were estimated based on the current market rates for medical supplies, and the cost of drugs and devices was based on the average prices of the items needed.

The equipment expenses and rent were based on the regional averages for the market, and the overhead expenses were determined by taking into account the various insurance premiums and other costs associated with running a healthcare organization.

#week #continue #working #creating #Business #Plan

Share This Post

Email
WhatsApp
Facebook
Twitter
LinkedIn
Pinterest
Reddit

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Child Psychology developmental process of toy stimulation

REQUIRED COURSE TEXT: Lightfoot, C., Cole, M., & Cole, S.R., (2012). The development of children, (7th ed.). New York: Worth Publishers. (ISBN-10: 1-4292-4328-7) T The purpose of this assignment is to familiarize you with the course content in a meaningful way and to assess your understanding regarding the milestones that

Why Companies Engage in International Business

Why Companies Engage in International Business  Paper details 12 pages of text research/materials include tables, charts and/or graphs with explanations. Text 12 plus Full text pages from top to bottom margin Extensive literature review with multiple types of sources; demonstrating a superior variety of media formats were used/cited. References (Minimum

Create a PowerPoint presentation with narration to explain the methods

Create a PowerPoint presentation with narration to explain the methods of strategically aligning skill development with business strategy in the course scenario. Note: Remember to use both on-screen text and narration or speaker notes in your PowerPoint slides to convey your information effectively. If due to technical challenges, narration is

In your own words, write a journal assignment articulating the

 In your own words, write a journal assignment articulating the differences between laws and ethics as they apply to digital communication. Make sure to include examples of both, and explain why they are both important for media professionals to understand. How can both law and ethics guide the behavior of

The U.S. courts have evolved from their humble beginnings of

The U.S. courts have evolved from their humble beginnings of replicating English courts into a complex institution and an integral part of the justice system. For this assessment, you explore due process, types of courts, post-conviction review (relief), and sentencing as they relate to a specific court case you research.

USING ONLY THE SOURCES PROVIDED ANSWER THE FOLLOWING QUESTION IN

USING ONLY THE SOURCES PROVIDED ANSWER THE FOLLOWING QUESTION IN APA STYLE 350 words:  Discuss in your own words what the authors mean by the crisis facing the liberal order has come from within. What actions should nations’ states take to restore the liberal order? (Make sure you include in

Please choose one of the following two options for this

Please choose one of the following two options for this assignment: CRM success stories.  Find two examples of companies that are getting real business benefits from their CRM systems. You can find those success stories at the major CRM vendor sites, at those companies’ websites or at any other specialized

Annotation is a crucial component of good data visualization. It

Annotation is a crucial component of good data visualization.  It can turn a boring graphic into an interesting and insightful way to convey information.  This week, please navigate to any site and find a graphic that could use some annotation work.  Add the graphic and the website it is found

Adventist Health Overview The healthcare industry is Nursing Assignment Help

Adventist Health  Overview The healthcare industry is impacted by economic factors as heavily as any other industry; therefore, a microeconomic and macroeconomic perspective is important for healthcare management professionals to have. The key is to determine what and how theories of economics and changes in legislation will impact healthcare organizations.

You are to determine the product and pricing strategies with

You are to determine the product and pricing strategies with cultural highlights. Suggest a brand name that would create a distinctive identity for the company (or specific product). Analyze cultural and legal factors that could influence packaging of the product. In this module, your goal is to obtain information related

Instructions To complete this assignment, you will select a franchise

Instructions To complete this assignment, you will select a franchise that will thrive in your local place of residence. First, you will describe the demographics of your hometown and discuss why this specific franchise will perform well in this location. You will use the franchise profile on the FBR website

Complete your required reading. In a 3-4 page paper, address

Complete your required reading. In a 3-4 page paper, address the following: Critique the ACHE Code of Ethics with the Code of Medical Ethics put forth by the American Medical Association. Develop a list of similarities and differences between the two codes. Choose any one of the cases listed in

Part 1: Stockholders and Management Interests Stockholders and managers want

  Part 1: Stockholders and Management Interests Stockholders and managers want the same thing, don’t they? Theoretically, yes, but in reality, it does not always work that way. Too often, managers’ personal goals compete with shareholder wealth maximization. Sometimes, managers pay themselves excessive salaries or bonuses that are at odds

Course HIMA 360: Health Informatics Project & Enterprise Management Week

Course HIMA 360: Health Informatics Project & Enterprise Management  Week 3 Assignment: Project timeline and Resources  Assignment Instructions  For this assignment, you will complete your project timeline and define resources in the proposal template. You will also search for appropriate vendors for Park Health System.  Complete the following project proposal

Knowledge management.

This order is a case study report on a case study about knowledge management. Write a report which will address the following format: Cover Page To Include Case Study Title, Student Number, Date of Submission Contents Page Details of each key section of the report with page numbers on the

OVERVIEW The student will complete an Etiquette PowerPoint Assignment presentation

 OVERVIEW The student will complete an Etiquette PowerPoint Assignment presentation that depicts the role of business etiquette in organizational success. The Etiquette PowerPoint Assignment must include 5–10 citations in the current APA format. Develop and submit a PowerPoint presentation. There must be a minimum of five and no more than