Analyze the accounting for support department costs and allocations
Analyze the accounting for support department costs and allocations, including cost behavior and relationships, various cost models, budget creation, and managerial reports.
In the field of health care, understanding how to move forward with industry growth is essential for a health care administrator. This includes having an understanding of connecting financial growth to logistical factors like facility expansion, management of human capital, and more.
This assignment will allow you to be creative, and focus on a health care business that matters to you. Since this is a fictional scenario, you may assume some fictional information to support your business plan.
Prepare a business plan proposal to address one of the following health care businesses, opening a new location. Consider each of these to be local models, with no corporate support structure. Alternatively, you may choose another business that you feel passionately about – please request instructor approval prior to Friday of Week 7 if you choose this option. This business plan will be given to banks or investors as you seek funding for the venture…
Pharmacy
Medical device storefront
Home health agency
You will need to use a document template for this assignment. Templates may be found by searching Microsoft Word. A few examples include the “Business Plan” and “Project Scope Report” templates. You will need to edit the template headers to be applicable to this assignment but retain the overall design elements to create a clean, professional-looking document.
Use the following outline within your template. Items in bold should be used as section headings. Additional subcategories may be included, if desired:
Executive Summary
Briefly state what is being proposed, why it is needed, what funding source is being pursued.
Proposal Description
Explain the basic business model
Explain the customer base, who pays for services (patients, insurance reimbursement, etc.)
Explain what infrastructure is needed (buildings, staff, equipment, resources, etc.)
Market Assessment
Describe utilization of the products or services relevant to the business location. (Fictional information may be included in this section. Meaning, you do not need to find actual market assessment data, but you do need to describe hypothetical utilization).
Financial & Risk Analysis
Provide a clear picture of projected revenues, expenses, profits, etc.
State the type of financing needed.
What is the expected return on investment (ROI)?
What is the financial risk? (include how risk is calculated)
Next Steps
Summarize the timeline for project completion if funding is secured.
On a separate page, include a minimum of three references, in APA format. These references should reflect your research on the topics of creating a business proposal, conducting financial and risk analysis, and preparing business proposals for investor review.
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