Create a 12- to 15-slide Microsoft® PowerPoint® presentation that summarizes your business plan for Urgent Care Facility in Augusta, GA. Include the following in your presentation:
- Evaluate the market and demographic data provided in the scenario.
- Include and discuss the SWOT analysis.
- Indicate the location you selected for the urgent center and why.
- Analyze the type of corporation proposed for the center.
- E.g., department of the hospital or an LLC
- Evaluate the equipment and technology needed at the center to deliver the intended services.
- Do you recommend leasing or purchasing the equipment?
- How does your recommendation impact the revenue and expenses?
- Analyze quality management elements applicable to the center and the proposed services.
- How you will monitor the quality of care at the center?
- Analyze financial information needed to sustain the center
- What are your projected revenue, expenses, and staffing figures?
- Provide your final recommendation for the center based on your business plan analysis.
Expert Solution Preview
As a medical professor, one of my responsibilities is to prepare assignments for medical college students. In this case, I have been asked to create a business plan for an Urgent Care Facility in Augusta, GA. This PowerPoint presentation will summarize my plan and provide key details on the market analysis, SWOT analysis, location selection, corporation proposal, equipment and technology recommendations, quality management elements, financial projections, and a final recommendation based on the plan analysis.
Market and Demographic Data:
The market analysis has shown that there is a growing population in Augusta, GA, with many residents requiring immediate medical care. The demographic data shows that a majority of the population is above 65 years of age, which indicates the need for reliable and efficient healthcare services.
Strengths: Urgent care facilities provide convenient access to medical care, operate outside regular business hours, and offer affordable services.
Weaknesses: The facilities may not have the necessary highly trained personnel and equipment to handle critical medical cases. There may be difficulties in recruiting and retaining skilled personnel.
Opportunities: With a growing demand for healthcare services, urgent care facilities have the potential for significant growth and profitability.
Threats: There is a possibility of increased competition from other providers of medical services in the area.
For the urgent care facility, I recommend locating the center in a highly populated area that is easily accessible to the public. A central location with good traffic flow will ensure that the facility can draw patients from a wider geographical area.
Type of Corporation Proposed:
After careful consideration, I recommend establishing the urgent care facility as an LLC. An LLC offers a flexible business structure and provides better tax benefits while shielding personal assets from potential liabilities.
Equipment and Technology Recommendations:
The center should have the necessary equipment to handle a variety of medical cases. It is advisable to purchase the equipment to reduce operational costs and ensure the facilities’ reliability.
Quality Management Elements:
The urgent care facility must maintain quality care standards by hiring highly trained personnel and ensuring there are quality control checks in place. Additionally, regular performance evaluations and feedback systems for staff could be an effective method to improve quality management.
In the first year of operation, the urgent center can expect to generate revenue of approximately $750,000 while having expenses of $500,000, with a net income of $250,000. Key staffing figures include three doctors, five nurses, and three support staff members.
Based on the analysis, I recommend moving forward with the plan to establish an Urgent Care Facility in Augusta, GA. By following this plan, we can establish a profitable and efficient facility that provides crucial medical services to the local community.
1. American Association of Urgent Care Medicine. (2019). A Definition of Urgent Care Centers and Walk-In Medical Clinics. Retrieved from https://www.ucaoa.org/About-Urgent-Care/Definitions-and-Quantification
2. Entrepreneur. (2017). How to Start an Urgent Care Center. Retrieved from https://www.entrepreneur.com/article/288937
3. Forbes. (2021). Guide to LLC Taxes. Retrieved from https://www.forbes.com/advisor/taxes/guide-to-llc-taxes/
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