If you are looking for a private hospital business plan template, here is a business plan for starting a hospital startup and management service and free feasibility study example you can use.
NEW HOSPITAL ESTABLISHMENT BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT – EYE, MATERNITY, VETERINARY, ETC
The hospital business is a subset of the health care industry which is ranked as one of the fastest growing industries in the world. Aside being ranked as one of the fastest growing industries in the world, the health care industry is ranked among the largest industries in the world too.
If you are already set towards starting a private hospital business, and are planning on writing a business plan, then you will find this simple business plan very useful.
BUSINESS NAME: John Rutherford Hospital.
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
John Rutherford Hospital is a standard and duly registered, certified and licensed hospital which will be located in Boston, United States. The hospital will be very motivated towards providing nothing short of the very best services to clients not just in Boston but in the whole of the United States.
John Rutherford Hospital will be owned by Dr John Rutherford (Jnr.) who will also be the major financer of the start-up budget towards starting the business in Boston. The other part of the start-up budget however will be sourced from the owner’s former business associates and from his bank.
Our Products and Services
John Rutherford Hospital is in the health care industry for the purpose of making sure clients are well catered for medically. We are in this line of business to make profits too, and the following are the various products and services we will be offering our clients:
- Inpatient care
- Outpatient care
- Diagnostic X-ray services
- Operating room services
- Clinical laboratory services
- Anatomical pathology services
- Personal Injury Case Management
- Occupational, Physical, and Speech Therapy
We have it as our vision for our hospital to become the first choice of clients for excellent medical and health care services. Also, we want to make sure of becoming ranked among the top ten (10) health care service providers in the whole of the United States of America before our tenth year of operating as a hospital.
We are in this line of business to fully serve our clients not just in Boston but in the whole of the United States. John Rutherford Hospital will provide very affordable health care services that can fit into the budget of both high income earners and low income earners.
John Rutherford Hospital is a hospital that will be raised on a very solid foundation. We are duly concerned with providing the very best and professional health care services to our clients. We will make sure to recruit only qualified and experienced professionals who have fully met our stringent requirements.
This is to ensure that we provide our clients with the very best health care services. The following are the various professionals we will be recruiting into our business:
- Chief Executive Officer
- Chief Medical Director
- Surgeon / Dentist
- Nurses / Nurse Aides
- Information Technologist
- Sales and Marketing Executive
- Admin and Human Resources Manager
- Accountant / Cashier
- Customer Care Executive
The health care industry is one that is very dynamic and thriving too. The industry is one that is still growing despite the huge success it has achieved with the help of modern technology. Today, many illnesses that were once very difficult to cure or even manage have become curable and easy to manage as well, thanks to the improvement in the industry by means of today’s technology.
Our target market encompasses every person living in Boston, and the United States. Our target market is not limited to any particular group, since everyone at one point in time or another may see the need to visit the hospital. However, we have categorized our target market into the following:
- Residents in the location where we will be operating our business
- Sports men and women who have sustained injury
- Expectant Mothers
- Corporate Organizations and financial institutions such as banks and insurance companies
- Health Management Organizations
Sales and Marketing Strategy
We have been able to carry out a thorough market survey before we resolved on sticking with our current location for our hospital. This was to make sure that we are able to deeply penetrate the market once we fully launch our business. Nonetheless, we have come up with the following sales and market strategies to ensure we promote our business to prospective clients:
- We will start up by making sure we put the word out there concerning our business. We will carry this out by sending introductory letters to all the residents in our location, corporate organizations, and business owners.
- We will make sure to advertise our hospital on various local media such as local TV and radio stations, local newspapers, etc.
- We will list our hospital on yellow page ads.
- The social media will be utilised to the fullest in promoting our hospital. We will make sure to have a Facebook page, as well as open Twitter and Instagram accounts.
- We will always ensure we keep up-to-date with latest developments in the industry by making sure of attending health care related expos and exhibitions.
Source of Start-up Capital
Having carried out our feasibility study thoroughly, we have come to realize that we will need a total of US$1.3M to fully kick start our business in Boston, United States. A total of US$600,000 has thus far been raised by the owner, Dr John Rutherford (Jnr.). The remainder will be sought for from the owner’s bank and from former business associates.
There is huge competition in the health care industry, not only among the hospitals, but also between hospitals and other health care service providers such as health centres, home health care services, community clinics, etc.
Our competitive advantage in the industry lies on the quality client services that we will be providing our clients. We are very convinced that we will be able to handle the competition in the industry as long as we consistently provide quality services. It is for this reason that we have made our recruitment requirements to be very stringent so as to hire only qualified and experienced professionals that will be able to work with us to achieve our goals.
Above is a startup hospital business plan sample that bears the business name, ‘John Rutherford Hospital’. The hospital will be located in Boston, United States, and it will be owned by Dr John Rutherford.