Introduction
Over the past few years, there has been a rise in the number of diseases that are facing human beings. Most of these diseases that human beings face are a threat to their health. In some cases, these conditions may become worse, leading to a loss of life. There have been many cases of such diseases, and this has really caught my attention. Moreover, this issue had put the desire in me to develop a health care facility that will be able to provide a wide range of medical services to patients suffering from different sicknesses. The health care industry has been growing over the past few years. The growth of the health care industry has created business opportunity since the development of health care facility has become one of the most profitable business. Therefore, the propose business idea that this paper will focus on is the health care facility.
The health care facility that will be developed will be called Maryland Hospital. The health care facility is needed so that people who are suffering from various health conditions may be able to visit and be treated for the conditions that they have. There has been a rise in the number of diseases, and this factor will ensure that the health facility will have all the important departments. These departments will work for hand in hand with each other to be able to deliver quality health care services. Some of these departments will include theatre where different forms of surgeries are performed, outpatients departments, patients, and other specialized areas.
Apart from offering health care services to patients suffering from various conditions, the hospital will engage in other activities to help the community surrounding it. Since the hospital will be getting some income from the provision of health care services, some of the proceeds will be channeled towards helping the community in various ways. Some of the ways that the community will be helped is through sensitization programs to improve their health, free screening, and supporting the needy.
Evaluation of the External Environment
Every business operates in a certain environment, which may affect the outcome of its activities. The environment of a business may be classified in two, and that is internal and external. In the case of the business idea that has been presented in this paper, the main focus will be on the external environment. PEST analysis will be conducted to be able to understand the external environment within which the hospital will be operating. The first element of the PEST analysis is political. The political aspect of the external environment explains the policies that the government has proposed within health care facilities (Burns, 2012). Therefore, this health care facility will ensure that all the policies that the government has developed are observed to ensure that the quality of services provided to the patients are up to the required standards. Moreover, the health care facility will make sure that all the rules and the regulations that the government has developed are followed.
The second aspect of the external environment is economical. The economic portion focuses on the key aspects of the economy, such as the growth rate, income taxes, inflation, supply, and demand, as well as exchange rates. The hospital will focus on these economic issues to ensure that it achieves its goals and objectives (Weinstein, Lopez, Joseph and Erps, 2014, p.183). For instance, the hospital will assess the supply and demand to understand how it will have to deliver its services to the clients adequately. Also, the health facility asses inflation and be able to adjust its services to suit the current economic situation.
Thirdly, the PEST analysis will include social factors. The main social factors that the hospital will consider the lifestyles, age distribution, demographics, as well as cultural attitudes. In this portion, the hospital will ensure that the services it provides to its clients will meet the needs of the people from all forms of life. Also, the health facility that will be developed will ensure that people of all ages are free to receive health care services. Moreover, the health care facility will ensure that the services provided to the patients are in line with their cultural attitudes.
Lastly, the PEST analysis includes the technological portion. Recently, the world has experienced significant advancement in technology. Technology has been adopted in various places, and it is being used to make work easier (Morris and Rennert-May, 2018, p.6). Health care centers have not been left behind in the move to introduce technology within their operation. Also, technology has emerged as a trend that should be adopted by various health care centers to provide quality services. Therefore, this health care facility will look out for the lasted technology to be incorporated to ensure that quality services are delivered to the patients.
Competition and Competitive Advantage
Most businesses tend to face various challenges after they have been established. In this case, the development of the health care facility will face several challenges in the process of providing health care services to the clients. The greatest challenge that the health care facility is competition from other health care centers. There are many health care facilities that have been developed, and most of them are well established. These health care centers will be providing a great competition since they are commanding a huge population (Fenton, Jerant, and Bertakis, 2012, p.410). Some of these health care centers provide high-quality services, which is likely to attract a lot of customers. Also, competition may be faced by hospice care centers. Hospice centers are health care facilities whose main focus is to provide health care services to patients while at their homes. Such medical facilities are likely to attract a large number of clients since they operate at the comfort of the patient. In this case, the patients do not have to visit a medical center since they will be visited in their homes.
The presence of this completion poses a great threat to the existence of the hospital since most of the clients may prefer the other rivals. In such a case, there is a need for a competitive advantage. In this case, the competitive advantage refers to the measures that the company will develop that will put it ahead of the rivals that are already in the market.
In the case of this case facility one of the factors that will be adopted to attain a competitive advantage over the rivals is the recruitment of skilled personnel. A hospital facility requires professionals who are experienced so that they can be able to discharge their duties effectively (Greene, Tuzzio and Cherkin, 2012, p. 49). Also, the presence of qualified health care professionals in a health care facility is vitals since a lot of errors that reduced the quality of services will be eradicated. The presence of skilled personnel ensures that quality services are provided and in the process it helps in increasing the competitive advantage of the hospital compared to other health care facilities.
The second element that can be included to increase the competitive advantage of the hospital is the equipment used. The hospital will have to acquire quality equipment that will ensure various activities are conducted effectively (Lynch - 2018, p.98). The rise of technology has helped in the development of various equipment that can be used to carry out complex activities. These equipment should be concurrent with the latest development so that the quality of services that will be delivered will be much effective compared to other health care facilities.
Thirdly, the hospital will go out of its way to provide home care services. There are some patients who might be sick and not be able to visit the health care facility. Also, some of these patients may be in need of medical care (Ward, Marsolo and Froehle, 2014, p.572). Therefore, the health care center will put in place measures that will ensure there is constant care for these individuals. Providing such services will required a lot of funding and this may be a challenge for many health care centers. Therefore, this may be used as an opportunity to provide home care services for the patients to gain a competitive advantage over other health care centers.
The next measure that can be used to increase the competitive advantage of Maryland hospital is to provide services at an affordable costs. Most health care centers prevent many people from accessing medical services since they provide their services at an extremely higher cost (LebrunHarris, and Baggett, 2013, p.1000). Therefore, Mary land will ensure that the services provided will be affordable so that the low income people can also be able to access medical services. This measure will ensure that the hospital is the most preferred compared to other health care centers.
The other measure that may be used to gain competitive advantage is providing free screening frequently. People suffer from certain conditions which require screening early for proper treatment to be administered. However, the screening services in majority of the health care centers is expensive hence most people cannot afford. The hospital will organize regular camps where free screening will be provided to the patients who may not be able to afford (West, Eckert, Steward and Pasmore, 2014, p.78). This approach will help the hospital to gain a competitive advantage over other health care facilities who are not able to provide free screening and other health care services.
Moreover, the hospital will develop a competitive advantage by taking part in various activities aimed at helping the community. The community has various needs that need to be accomplished for it to be in a good condition (Porter and Lee, 2016, p.1047). The hospital will take up measures to ensure that these needs are achieved. In the process, the health care center will have won the hearts of the members of the community. In turn, the members of the community will return their favor by visiting the hospital in case of any medical problem thus helping it grown beyond its competitors as well as getting more revenues.
The Proposed Target Market
For a business to succeed, there has to be a target market who will eventually become the consumers of the services provided. In the health care industry, there are various groups who can be target market. One of the target market for this hospital are the trail blazers. The trail blazers are the high income earners who have put a lot of focus on their health well-being. This hospital will be able to meet the needs of this groups are one of the potential consumers. The second groups are the prospectors. The prospectors are the second high income earners and they mostly rely on recommendations (Mitchell, Wynia, Golden and McNellis, 2012, p.45). These individuals are likely to use technology to share their health information with the doctors. The hospital will meet the needs of these groups by making sure that there are various mediums of technology that can be used to effectively communicate with the patients. The third health care group that the hospital will target is the homesteaders. The homesteaders are second oldest as they are not high income earners. These individuals are reserved and they cannot easily share their health data information particularly with the physician. The hospital will target the groups of individuals by developing a medium that can be used to allow them to effectively communicate their health information with the physicians. The last consumer groups that the hospital will be targeting is the bystanders. The bystanders are the oldest people and have the lowest income. Als...
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