Saint Louis Medical Center’s Business Plan

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

Introduction
Steps to Develop a Business Plan
Alignment with Organizational Mission and Vision
Strengths and Weaknesses
Throughput Considerations
Marketing Strategies
Conclusion
References

Introduction

The management of healthcare facilities is a complex process that includes the evaluation of various projects and growth opportunities. The nurse executive has to be able to assess the feasibility of projects to ensure the sustainable development of their units (Moseley, 2017). This paper addresses some peculiarities of the development of a business plan in the healthcare setting. The addition of a cardiac-wellness center to the Saint Louis Medical Center (SLMC) is under analysis. The purpose of this paper is to evaluate the feasibility of this project in terms of its alignment with the organizational mission, marketing strategies, and throughput considerations.

Steps to Develop a Business Plan

The development of a business plan implies several stages. One of the key phases is research (Moseley, 2017). It is critical to make sure that the plan is based on the sufficient amount of data. The areas of major concern include demographics, people’s needs, as well as the outcomes of the cardiac-wellness center development. The evaluation of the organization’s profile, its mission, and core values to make sure that the new project aligns well with the organization’s strategic development. The development of particular steps to implement the new project is another stage that involves budget calculations and the assessment of resources availability.

Alignment with Organizational Mission and Vision

The SLMC stresses that wellness care is the restoration or maintenance of individuals’ ability to heal. Therefore, the center provides a wide range of services that can help in achieving this goal. One of the major values of the SLMC is the focus on patients’ needs (St. Louis Medical Center, 2016). The development of a cardiac-wellness center can be another opportunity to reach the objectives mentioned above. The aging population of the city can benefit from using the services of the center that has such a center as cardiovascular disorders remain one of the top causes of death in the USA.

Strengths and Weaknesses

The major strength of this project is associated with patient outcomes and public health. A new cardiac-wellness center can help people maintain proper lifestyles and receive services that will be instrumental in preventing the development of heart diseases (Leggett et al., 2015). Another benefit is related to the organization’s competitiveness as the diversification of the provided services can help the center generate more revenue. However, the project is also associated with certain weaknesses such as high costs. The opening of a cardiac-wellness center requires the allocation of substantial funds (Leggett et al., 2015). Another significant weakness of the project to be taken into account is related to the ongoing medical reform. Healthcare plans often cover only limited wellness care services (or even no wellness care at all) while many people can hardly afford to pay from the pocket for this kind of care.

Throughput Considerations

When evaluating a business plan and the feasibility of any project, it is important to pay attention to the major throughput considerations. One of these concerns is related to the capacity of the organization (Moseley, 2017). It is necessary to make sure that the facility will be able to provide care to the patients that may address the unit. Staffing is one of the most important aspects to consider. It is also vital to make sure that the number of healthcare professionals is sufficient but not excessive as this may have an adverse effect on the project’s profitability. Another important throughput consideration is associated with the organization’s supply chain. It is critical to make sure that all the necessary materials will be delivered timely. Otherwise, the center’s capacity will be undermined.

Marketing Strategies

Proper functioning of the cardiac-wellness center will depend on the use effective marketing strategies. One of the possible methods to market the new wellness center is linked to the use of social media (Moseley, 2017). The number of social networks users is growing each day. This is a wide audience consisting of people of different age, ethnicity, socioeconomic status, cultural background, and so forth. Social media can help the SLMC reach thousands of people with the use of quite a small budget. Internal marketing can also be an appropriate strategy. SLMC patients can be informed about the new cardiac-wellness center. It is necessary to provide leaflets and other materials where all the major data will be presented. People who know and appreciate the services they receive at the SLMC can use the new facility or tell the people they know about it.

Conclusion

On balance, the development of a new cardiac-wellness center can be beneficial for the SLMC as it can help the organization reach its strategic goals and be more competitive. However, when evaluating the project, the nurse executive should pay attention to various details including the feasibility of the business plan and the overall project. Some of the major points to pay attention to are the associated costs, patient outcomes, availability or resources, staffing, as well as affordability of the services. As for the marketing strategies, it is possible to use social media and internal marketing as these are effective methods that do not require excessive investment.

References

Leggett, L., Hauer, T., Martin, B., Manns, B., Aggarwal, S., Arena, R., … Clement, F. (2015). Optimizing value from cardiac rehabilitation. Mayo Clinic Proceedings, 90(8), 1011-1020.

Moseley, G. B. (2017). Managing health care business strategy. Burlington, MA: Jones & Bartlett Learning.

St. Louis Medical Center. (2016). About us. Web.

Click Here To Order Now!