Financial steps to start a new business. It

Financial Information

Internal business
plans target a particular audience geared towards the business. An internal
plan is written to evaluate a projected plan. This plan should include the
company’s current development, including costs of operational and
profitability. Determine how the business shall repay any invested capital used
for the uprising of the project. Provide detailed information about the
marketing budget, technology costs, hiring, and it should include a market
analysis demonstrating target demographics market size and the market’s
desirable effect on the company’s projected income (Senagore, 2008). A start
plan details the steps to start a new business. It contains sections that
describe the company’s mission statement, product, or service, which will be
provided by the company. Details in regards to market evaluation and the
expected management team should be mentioned (DHHS, 2009). Finally, a financial
breakdown containing spreadsheets describing specific details of the budget
should be properly outlined.

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The Ambulatory
Surgery Center (ASC) is looking to expand services through outpatient services,
and the center is committed to transforming the healthcare delivery system by
putting a strong focus on patient care. This involves a total of 100-physician
medical group that includes specialty physicians of 20 surgeons, 4 orthopedic
surgeons that can direct their time and resources to patients and improve
outcomes.  In planning for the finance of
the ambulatory Surgery Center, looking at the staffing projections is essential
because of cost. Staffing costs is some of the highest cost for Ambulatory
Surgery Center; so budgeting for 100 physicians and other health care providers
on the team is a priority in maintaining cost-effectiveness each month. 

Using operational
business plan, accounting for patient flow, number of rooms needed, as well all
equipment in the monetary flow of the ASC are important. The goal here is to
forecast the revenue and expenses in the ASC by estimating the average from
each area of services.

With the fast
growth of ASC, making sure that patients have the best surgical experience
possible is priority because in the first year alone, vast rate of patient out
flow to the center is expected to increase and then decrease thereafter. The
ASC should be attached to a hospital because it will provide cost effective
care that can save the government, third party payers like our investors and patient’s
moneys. The amount of patients expected to accrue per day is shown above.  Physicians are expected to see up to 75
patients per day, with the help of other health care providers in the team in
the ASC. With 75 patients per day, four pre and post-op RNs will be enough to
for see all care in the ASC.

Month 1

Month 12

Month 24

5

36

59

Moving on to gross revenue per
year, the fixed variable expenses are estimated based on successful experience
of other ASC and their quotations. From the above table, this is founded on 59
percent of the co-pay from patients, and the 36 percent from patient pocket,
and the remaining 5 percent from the first month will be from the amount of
visits and routine procedures that are not covered by insurance.

 

Overall, adding ambulatory
Surgery Center shows rapid growth preventative measurements as well pain
managements. It is shown that the rise in Ambulatory Surgery Center reflects in
the development of techniques and growth in certain treatable conditions.
Looking at other successful ASCs, on average the Medicare program and the
beneficiaries they hold are more that 2 billion in savings each year because
the programs pay less for procedures performed in the ASCs when compared to
hospitals for that same procedure (Senagore, 2008). A new program, the goal for
this business plan is to reach this revenue if not more, and this goal can be
reached.