Healthcare Business Plan Paper

Healthcare in United States is an evolving industry where hospitals are becoming part of networks larger than anyone had seen before. Hospitals serves as a place we go to when we need healthcare treatments, but for some hospitals serves as a business where revenues are generated. Business planning is key to ensure that hospitals are up and running, it will ensure that the hospitals keep on improving, ensures that we follow Centers for Medicare and Medicaid policies to ensure maximum reimbursement, ensures that the hospital will properly serve the community, and finally ensures that investors are willing to take a risk. With that in mind, business planning is essential for a successful venture in healthcare, whether it establishes a new department or improving current ones, there are different business plan models that can be utilize for a successful project. There are several types of business plan model to choose

A feasibility study is first performed in this type of models, it is “A feasibility study begins by laying out the proposed plan and investigating all of the factors that will contribute to its success or failure” (Kelly, 2017). This type of plan will attempt to forecast the success of a specific company before an implementation. If the study yields an unsuccessful prediction, there are two ways it can be tackled. The first option is to drop the idea all together and the second is to revamp the plan accordingly (Kelly, 2017). The feasibility study limits its users depending on the result of the study. The importance of changes in the consumers is magnified by this type of plan, it will be the make or break point that will determine whether you will pursue the business venture. It will be also the defining factor on getting the funding necessary from banks to start a