mba-559_d5a3-team-3-executive-summary-2

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MBA 559_D5A3

Team 3

Executive Summary

Team
Members: Liza Lawrence, Matthew
Dunn, and Cassandra Dooley

5/12/2013

Executive Summary

As part of
its ongoing efforts to improve access to health care in rural areas, General
Medical Center is subsidizing the start-up and first year of operations of a
new pediatric medicine practice, Kids R Kids Family Medicine. The business will
be owned and managed by Team Innovator, as a sole proprietorship. Team
Innovator will be responsible for ensuring the general health of his patients
and creating a viable and profitable business medical practice. Throughout the
first year, Team Innovator will work closely with advisers from General Medical
to get the clinic on a sound financial and operational footing, using this
medical clinic business plan as guiding management tool.

Team
Innovator will focus on diagnosing and treating conditions of all ages while
emphasizing preventative medicine and the overall health and wellness of his
patients. The clinic will utilize new equipment and a trained staff that will
be able to optimize the care of each patient. Team Innovator understands that
there are many factors that can affect health, including exercise, diet,
environment and heredity. Kids R Kids Family Medicine will try to provide the
most comprehensive medical care possible in order to optimize the care and
well-being of each patient.

Team
Innovator will also carry out minor procedures in his office, but only after
both risks and benefits have been explained and understood and written consent
has been obtained from the patient. Team Innovator will refer patients, when
appropriate, to specialists and/or to hospitals for tests, further treatment
and therapy.

Team
Innovator will be assisted by two employees: a.bplans.com/family_medicine_clinic_business_plan/executive_summary_fc.php” title=”Click to Continue > by Text-Enhance”>medical assistant and a receptionist. Ongoing training and support for these
employees will be provided by Holcombe Medical Center throughout the first
year.

The
marketing strategy involves a combination of print media advertising,.bplans.com/family_medicine_clinic_business_plan/executive_summary_fc.php”>website development, networking, and promotional events, all aimed
at residents living within 35 miles of the clinic. With only five other
Pediatricians in town, we project a gradually increasing patient load over the
first several years, as we find out place in the community.

At first,
the clinic will be dependent upon the support received from Holcombe Medical
Center. They will also cover Team Innovators salary and payroll taxes for the
first year of operations. As patient volume increases, we will begin supporting
our expenses from revenues. At the end of the first year, the subsidies will
cease, and Team Innovator compensation will become one of the clinic’s
expenses. We expect to incur operating losses in the first three years, but
have planned for a strong cash balance to keep the business running. We will
begin making a small profit in the fourth year.

Team
Innovatorwill use all his experience and knowledge to create a successful and
profitable practice. Team Innovator will leverage the years he spent in solo
practice elsewhere to help model his new business. His past experience in
conjunction with his progressive and diversified approach to each patient will
allow him to rapidly grow a large and devoted patient base.

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