Business Overview
XYZ Medical Clinic is a start-up organization that will offer valuable healthcare services to all residents in the area. The organization will target both non-insured as well as insured people. The organization’s highly trained experts, including dentists, doctors, nurses, surgeons, opticians, chiropractors, nurse’s aides, physical therapists, medication management counselors, as well as other non-health employees will carry out XYZ Medical Clinic’s services. These will ensure the requirements receive value for their money. To emerge highly competitive in the sector, the organization will emphasize delivering quality healthcare services while at the same time ensuring to meet the patients’ expectations at all times, allowing them to improve their health experience when they frequent the medical clinic (Johnson & Garvin, 2017). XYZ Medical Clinic will succeed in offering peace of mind to patients and their families during the challenging moments in their lives. To serve the best interest of the clients, the organization will coordinate ad well as manage its services 24/7. Despite the company offering services to all kinds of patients, it will ensure to abide by the regulations and rules that govern the healthcare sector in the county (Jazayeri & Park, 2019). The staff will have effective training to give customers valuable services.
Mission
The mission of XYZ Medical Clinic is to offer comprehensive, quality, and compassionate healthcare coordination and management of medical services to the population of the target region. The services of the company will not only help individuals, caregivers, and families. Rather, it will assist nurses, doctors, hospitals, therapists, rehabilitation facilities, nursing institutions, and assisted living communities. Loving and quality coordinates at XYZ Medical Clinic will manage the healthcare care conditions of the patients maximizing their physical, emotions, spiritual, and emotional health and happiness. Financially, careful, XYZ Medical Clinic will seek to reduce wasteful expenses from disjoined healthcare and service duplication. Such issues have cost the countries billions of dollars (Sheffield, 2019). The organization’s goal will be to emphasize innovative, smart, and comprehensive care management and coordination that will reduce public, private, and government spending.
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Objectives
XYZ Medical Clinic has several objectives it anticipates to achieve
To assist needy individuals to receive affordable care rather than seeking care from costly facilities.
Streamline communications and services in the healthcare field by availing professionals, including nurses, doctors, rehabilitation facilities, therapists, and nursing homes that will provide better service and care substitutes for effective care management.
Provide the community served with openings for serving individuals as well as their families to maximize physical, emotional, mental, and spiritual health (Di-scala, 2017).
Save taxpayers money from wasting on duplicate or wasteful medical and health care by offering wide-ranging healthcare management initiatives.
The Market
The service types that XYZ Medical Clinic will provide are not availed in high quality in the area where it plans starting its operations. Various state-level and government agencies exist in the region, which provides similar services that the organization will offer. The issues related to poor personal attention, long delays, and deteriorating service quality, which the agencies provide leave an opening for private intervention. XYZ Medical Clinic will adopt various approaches to differentiate itself from the current market. The biggest of these will comprise of the sincere focus to the wellbeing of patients at all levels (Johnson & Garvin, 2017). Benchmarking services to customers will be the ideal way XYZ Medical Clinic will leverage the market, which needs the services desperately.
Customers
XYZ Medical Clinic will concentrate on meeting the healthcare needs of the different groups of patients in the region while mostly emphasizing expectant mothers, injured sportswomen and men, schools, health management organizations, and corporate institutions, such as insurance firms, banks, oil and gas corporations, as well as manufacturing companies. The group will account for approximately 95 percent of the enterprise (Jazayeri & Park, 2019). The target clients will ensure that the organization has a stable customer base, which will ensure XYZ Medical Clinic the company’s operations remain stable and deliver value to the community.
Management Team
Elizabeth Jones, FNP-BC will be the owner and president for XYZ Medical Clinic. She has eight years’ experience working as an NP, specializing in primary care setting as well as urgent care setting. During her career as an NP, she has coordinated all primary care an urgent care aspects, making her ideal for starting up the organization. XYZ Medical Clinic will offer an opportunity for availing desperately required services to the region (Sheffield, 2019). By combining affordable services and unmatched customer services, and a professional management team, XYZ Medical Clinic will acquire market share quickly as well as a reputation for being a premier healthcare institution.
Start-Up Funding
The business plan will summarize the different sections regarding the funding needs for XYZ Medical Clinic to commence its operations during the first month. Clinical site expenses, supplies (medical and office supplies), utilities and other overhead costs (water, electricity, internet, computer, and software), malpractice insurance, continuing education expenses, accounting fees, services to provide (primary care services, drug screens, DOT exams), and projected monthly income to support independent practice (Di-scala, 2017). Table 1 illustrates the estimated monthly cost for independent practice establishment for XYZ Medical Clinic.
| Item | Estimated Cost |
| Clinical site expenses | $200,000 |
| Employee structure and expenses | $47,400 |
Supplies Medical supplies Office supplies | $6,750 $4,500 |
Utilities and other overhead costs Water Electricity Telephone and internet | $1,000 $1,500 $1,000 |
| Malpractice insurance | $3,500 |
| Continuing education expenses | $1,400 |
| Accounting fees | $1,200 |
| Services identified that you will provide (primary care services, drug screens, DOT exams) | $14,800 |
| Projected monthly income necessary to support independent practice | $100,000 |
Table 1: Estimated Monthly Cost for Independent Practice
References
Di-scala, N. (2017). Building and maximising your business potential in a crowded marketplace. Journal of Aesthetic Nursing, 6 (6), 312-313.
Jazayeri, A., & Park, K. T. (2019). How to write an effective business plan in medicine. Gastroenterology, 156 (5), 1243-1247.
Johnson, J. E., & Garvin, W. S. (2017). Advanced practice nurses: Developing a business plan for an independent ambulatory clinical practice. Nursing Economics, 35 (3), 126.
Sheffield, A. J. (2019). Improving access to health: A business plan approach to creating a sustainable nurse-led community clinic. Nursing Economics, 37 (6), 306-316.
