Research business plan models and choose a model appropriate for a hypothetical medical facility.
After answer the question, in two different paragraph give your personal opinion to Zachary Rayburn and Nikki Thompson
The Business Plan
Research business plan models and choose a model appropriate for a hypothetical medical facility. You are responsible to present this plan to obtain a bank loan for the initial capital/start-up funding. Summarize your chosen model, and explain the elements you would include in your business plan and why? Cite and reference your resources.
The business model that I would use would be the collective business model. According to Muehlhausen (n.d.) a collective business model is similar to a franchise but has many likeminded people coming together to purchase and market but does not pay royalties like a franchise. Some things I would include in our business plan would be services provided such as: radiology, lab, operating rooms, and optometry. I would also list the amount of revenue that is expected from pay for services and also what we would estimate insurance to give us. The big selling point would have to be how many people we estimate would use this facility. Depending on the location, that could be upward of a couple hundred thousand. The facility could also offer primary care offices. This would help bring people in more frequently and also be more centralized with the rest of the medical community. I think having everything more centralized would also be a selling point. It is better for the community to go to a one-stop shop essentially rather than driving multiple places to complete your visit.
Muehlhausen , J. (n.d.). Examples of Business Models. Retrieved fromhttps://www.dummies.com/education/college/examples-of-business-models/
The hypothetical medical facility needs to be founded and so the most appropriate model for this case will be the start up business model. This business plan is quite effective since it will help outline the various elements that are needed to ensure that the project is convincing and it is well planned (Pan, 2017). This plan will be comprised of several elements, the first one is the general business strategy that will be employed. The product and the services that will be offered by the medical facility. This will help understand how relevant this facility will be to the surrounding community (Attaran, 2017). These elements will help the financiers and other individuals who are associated with the project plan. This model is so important more so when the organization is at the start up stage. This will give the business a conclusive approach and information about the whole business process (Liu, Li, Zhao & Mao, 2016).
Liu, G., Li, K., Zhao, D., & Mao, C. (2016). Business model innovation and its drivers in the Chinese construction industry during the shift to modular prefabrication. Journal of management in engineering, 33(3), 04016015.
Pan, J. (2017). FACTORS INFLUENCE CHOICE DECISION OF FOREIGN PATIENTS TOWARD MEDICAL TOURISM IN BANGKOK, THAILAND: A CASE STUDY OF BANGKOK HOSPITAL, BUMRUNGRAD INTERNATIONAL HOSPITAL, SAMITIVEJ HOSPITAL.