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Business Plan for a New Hospital

Devise a business plan from scratch.

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A. Name of the Business
BeWell Hospital

B. Description
Purpose: The demand for good healthcare is increasing as population is aging. Among younger population also the incidences of illness have increased owing to greater physical and mental pressures. In addition to medical services, BeWell hospital would provide counseling to patients and families to help them cope with challenges of illness.

Following would be various services offered by the hospital:
Paediatrics: The department would provide services for children for all kinds of illnesses
Gastroenterology: The department would provide broad range of services for treatment of problems related to digestive system
Psychology: The department would provide services ranging from general counseling to treatment of psychological problems.
Other departments include cardiology, orthopedics, nephrology, pulmonary, and critical care.

Mission: To use our skill and compassion to build healthier community by providing quality clinical care and superior service by working with our patients, physicians and healthcare professionals.
Vision: To be the preferred healthcare system in our region by delivering highest quality care at highest level of service.

Planning: The detailed project proposal would be prepared and would be sent for approval to higher authorities. Once administrative approval is obtained then proposal for resource allocation will be made. Next step would be to seek land on lease for a long term. Construction plan would be prepared with architecture brief. Once the design is finalized, tender would be issued and contract would be awarded to prospective construction agency. While construction is still in progress, strategic planning will be done for staffing, equipment, machineries and furniture.

C. Targeted Location
The targeted location for BeWell Hospital is West Virginia. It is because Virginia is one of the top states in the list of aging population. The median age in the state is above 40 hence there would be more requirements for clinical care. Also, there are only 3 regionally rated hospitals and rest are small in scale. BeWell can get its place in relatively shorter time given the demographics of population and need for quality healthcare in the region.

D. Market Analysis
The market for BeWell is very broad as the community is rapidly growing and the entire population is the target market. The target market is:
- A local market for general hospital services which includes patients from surrounding counties
- Non-local market for specialist care

BeWell will provide general hospital services for population of West Virgina and specialist services for adjoining cities.

The total population which is expected to be targeted and served by BeWell Hospital is approximately 150,000.
The key feature of our target market is increasing demand from aging population. This segment has complex health care needs. The population growth in the region chosen for BeWell Hospital is expected to be over 7% in next five years. The main issues driving demand for health and social care in West Virginia are Increasing age of the population and increasing dependency ratio. These demographic changes would cause substantial changes in cases of illness which require health ...

Solution Summary

A detailed business plan covering important aspects of starting a new hospital is provided.