Discussion: Business Plan Models HCA 620

Discussion: Business Plan Models HCA 620

Discussion: Business Plan Models HCA 620

Marketing Analysis and Plan

Market Review

            The total market for WCY Hospital includes all adult and children who are being admitted in the core of Arizona Medical Center who needs to undergo for an immediate surgery and for those patients who cannot be seen in the main Surgery Center because of lack of surgery rooms. The addressable market that WCY Hospital is going to target patients’ needs an immediate surgery and patients who have specific scheduled procedures in the main surgery center but cannot be seen there because of lack of surgery rooms.

Market Needs

WCY Hospital is the first place to have an outpatient surgery in the core of Arizona Medical Center, that will perform immediate surgeries and will accept patient who have scheduled procedures in the main surgery center that cannot be seen right away because of the lack of surgery rooms. The collision of performing immediate surgeries and accepting patients who have scheduled procedures in the main hospital that cannot be seen because of lack of surgery rooms is the two hot trends that WCY Hospital will capitalize on.

Trend towards performing immediate surgeries.

There are different kind of surgeries and based on research, performing surgeries in ambulatory surgery centers are higher than performing in the main hospital.

Trend towards accepting patients who have scheduled procedures in the main hospital that cannot be seen right away because of lack of surgery rooms.

WCY Hospital is the first company to start this trend and we will see how it goes.

Market Trends

The trend on performing different kind of immediate surgeries in the ambulatory surgery setting is a national phenomenon. “Ambulatory Surgery Centers (ASCs) also add considerable value to the US Economy, with a 2009 total nationwide economic impact of $90 billion, including more than $5.8 billion in tax payments. Additionally, ASCs employ the equivalent of approximately 117, 700 full-time workers” (Oxford Outcomes ASC Impact Analysis, 2010).

Family, caregivers, and other significant other of the patient are very demanding when it comes to the care that the medical professionals will perform to them. They want the best quality care for their loved one and WCY Hospital will not disappoint them.

Market Growth

            In 2017, $18 billion of outpatient surgeries were performed; up from 32% in 2005. The Ambulatory Surgery Center market is estimated to reach $36 billion in 2018 and is projected to increase to $40 billion by 2020 (Research and Markets, n.d.).

Industry Analysis

The Ambulatory Surgery Center industry is a $30 Billion industry in the United States.

NAICS Code 621493: Freestanding Ambulatory Surgical and Emergency Centers.

Threat of new entrants:

The threat of a new entrants is relatively low. “Over the past five years, the Ambulatory Surgery Centers industry has grown by 4.1% to reach revenue of $30 billion in 2018” (IBISWorld, n.d.). We believe that we will continue to rise with the trust our patients will give us and with the efficient patient care services we will give them.

Bargaining power of suppliers:

            There are enough suppliers for the building and maintaining the foundation of WCY Hospital. We expect to improve margins as volume increases in the new outpatient surgery center. We have established a good rapport with our suppliers through our long-established business partners and through our company’s advisory board.

Bargaining power of patients:

            There is a relatively large number of inpatient and outpatient who will undergo and need to undergo surgeries, immediate or non-immediate. These are proofs that the company should not witness any downfall with financial matters and any patient’s complaints.

Availability of substitutes:

            WCY Hospital is the first place that have an outpatient surgery center that will perform immediate surgeries and that will accept patients who have a scheduled procedure in the main surgery center but cannot be seen because lacking surgery rooms. We hope that by the hard work of our staff and the efficient care we are giving to our patients will be a strong motivation to retain patient’s loyalty.

Competitive rivalry:

            WCY Hospital assumed that competitors will copy our offer for patients who will have referrals, which will increase competition. We hope that by establishing ourselves as the first hospital who will perform immediate surgeries and accept patients who cannot be seen in the main surgery center because of lack of surgery rooms, that we will divide market share.

Key Customers

WCY Hospital has two customers division to which they will serve and to satisfy their needs.

Admitted Adults and children who needs to undergo immediate surgery: Patients who is brought to the Emergency Room for vehicular accident issue can undergo for immediate surgery because asystole can happen any moment.

Admitted Adults and children who cannot be seen to the main surgery center: There are times that there are a lot of patient is scheduled for surgeries that is why delayed surgeries cannot be avoided, especially when there is for example five to ten surgery rooms or sometimes less inside the main hospital.

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The purpose of this assignment is to familiarize students with the commonalities among typical business plan models.

Research a minimum of four typical business plan models.

In a paper of 1,000-1,500-words:

Compare and contrast these typical business plan models.
Describe the strengths and limitations of these models.
Compare these models to the business plan models in either Microsoft Project or Apple Merlin.
Select the model that you believe will work best for your assigned CLC Business Plan; explain your rationale for this selection.
Research should be from scholarly, peer-reviewed sources.

Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.

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