Executive summary
The health care clinic will be providing services to the cardiovascular community both adults and children. The innovative process utilized in the identification of the business opportunity followed various steps that ensure the business venture was useful. The growth and development of the enterprise employed certain strategies to realize its improvement. The challenges and benefits associated with the implementation of the business were also assessed. The government can offer support through the provision of training to the healthcare profession on technological changes and new services. The government should reduce taxes on private businesses and maintain tight security to make business activities run smoothly.
Introduction
The business venture chosen for this instance is the Medical and Healthcare clinic. The healthcare will be providing all types of services to the cardiovascular community and will be located in Richmond City, Virginia. Cardiovascular diseases have become a challenge not only to old people but also to young people. Globally, cardiovascular diseases cause most of the deaths, and it has become an issue of concern. The establishment of Medical and healthcare in Richmond will help in the diagnosis and treatment of cardiovascular diseases. Implementation of healthcare needs quality initiatives that will make the business venture successful. Employees and other organizational staffs must collaborate and work together to realize the success of the innovation (Simmons et al., 2016). Commitments for all managers and other employees are very crucial in the implementation of effective strategies for healthcare service delivery. The healthcare professional identified any critical information that was needed to implement the innovative initiative. Relevant data was gathered from update sources that utilize modern technology in the provision of their services. The activity helped in making informed decisions on the innovation process to be used in the implementation of healthcare. In the selection of the business venture, economic, organizational, and legal issues are considered to achieve the straightforward application of the investment.
Business identification innovative process
The innovative process that was used in the identification of the business opportunity has the following steps. First, remain focused on the core product or services which the healthcare wanted to provide to the customers or consumers. Specialization is one of the most crucial assets that a business venture can have. For instance, the business venture focused on medical and healthcare services for the cardiovascular community. Coming up with a unique product that has distinct features draws the attention of the customers and makes the business venture maximize its profits. Secondly, maintaining the pitch simple. The healthcare professionals kept the message of the product concise, simple, and easy to understand (Ottman, 2017).
The customers will become conversant with the service which the healthcare will provide as the whole process is simple and easily communicated. The healthcare organization will deal with the cardiovascular community only, and the professionals are specialized in a particular disease. Thirdly, remain goal-oriented. The goals and objectives of the business make entrepreneur work extra hard because they want to achieve something. They will come up with a plan and initiatives for achieving the set goals. Set only achievable targets according to the capabilities and opportunities available. The healthcare set the goals of proving quality healthcare services to the professionals and becoming a center for the provision of quality services to the cardiovascular community in Richmond.
Forth, map the capabilities that target the customers’ needs and determination of the service strategy which is available. Medical healthcare is targeted at the cardiovascular community where many people are diagnosed with hypertension, stroke, and diabetes. Sometimes patients’ adherence to the medication becomes a challenge, especially for older adults. They need someone to remind them of how frequently they should take the dose. Healthcare would guide all these challenges (Holden et al., 2015). Patients may also be stressed after diagnosis of cardiovascular disease, and the healthcare clinic will provide advice and counseling on how to stay healthy and avoid any risk factors.
The achievement of mapping the capabilities can be achieved through making lists of the criteria for making decisions. The customers or patients would be allowed to choose the services according to what is best for them and the ones with the desirable features they are looking for. The healthcare clinic evaluates how it provides services to its customer and the taste and preferences of the customers. Fifth, utilization of the marketing tools that gives the best results. The health care clinic would implement the best market strategy that fits the services of the customers (Anderson, Potočnik & Zhou, 2014). It is achieved by identifying marketing tools that have worked best for similar businesses and situations underlying those businesses. The tools chosen for the venture are based on the cost and financial expenses. The market tool should aim at maximizing the profit through the quality and quantity products or services.
Sixth, the healthcare professionals implement the activities which they have been planning. Measure the progress regarding how the plan can work duration of three to six can be set to confirm whether it is possible to make the set goals and targets work. New objectives or goals can be set depending on whether the marketing tool which was chosen is appropriate for delivering popular services. The venture focuses on the marketing tool and the strategy which can be integrated to yield maximum inputs. Lastly, a planning exercise is done to assist the business to become successful. Healthcare professionals do extra work that accelerates the success of the company. All the tasks are planned entirely, and the employees are motivated to work hard through collaboration and the exchange of ideas. The nurses, psychiatrists, and other healthcare professionals in the clinic focus on the achievement of the mission of the clinic. They deliver quality services to the cardiovascular disease community.
Strategies to expand the business venture
Technology has changed everything from service delivery to consumer preferences and tastes. The healthcare clinic can ensure its expansion through closely monitoring online reviews and compliments of the consumers. If there are a lot of complaints and negative reviews, then the clinic professionals work toward the elimination of the bad traits. Check the claims which are similar then the clinic professionals respond accordingly and recommend on what they should do to improve and eliminate the challenges. When the complaints are adequately addressed, and necessary steps are taken, it is easy to improve the performance hence enhancing the service provided or product offered. Similarly, healthcare creates a positive image with the public through engaging in the different and new crowds (Laszlo & Cescau, 2017).
Healthcare becomes part of the community through participating in community projects or services. It can also engage in charitable events, fundraising, and other donations that help the community. Some of the activities in which the organization can participate are cancer walks, making contributions to children’s homes, and collaborating with other organizations to enhance their participation. When the organization provides support to the community, more people will get to know them; hence patients get referred to the healthcare clinics. Additionally, expand the services which healthcare provides. The demographic keeps shifting and healthcare as a business venture should monitor these demographic changes and offer services according to their needs. There is a need to have qualified physicians and professionals to provide services in case healthcare expanded. Prescription of antibiotics, examination, assessment, and checkup is very crucial to the patients. In case of expansion, these areas should be well monitored to ensure that proper and quality services are provided to the patients.
In any business, it is good to get feedback from the consumer regarding the product or services. In the healthcare clinic, the company can be expanded through scheduling and appointments on the follow-up to check their progress. If the clinic wants to retain the patients, it is good to tell them that they want to see them monitor their progress. The physicians will monitor the workability of the medicine and confirm the areas which need modification. Healthcare professionals who conduct follow with the patients show that they care for and value their health. They will be encouraged to return to the same clinic which ensures a continuous flow of funds. It will be easy for the organization to grow due to the consistent profits that it makes (Brandeburg et al., 2015). In a business venture, it takes a few seconds to lose the customers but a lifetime to gain them.
For this instance, proper treatment and provision of services to the patients just as one handles family members will make them come back more times. Furthermore, social media are becoming the best platform for advertisement of the business entity. Make the people aware of the services which the clinic provided and potential patients will understand it. Some of the social networking platforms that the healthcare clinic can utilize are Facebook, Instagram, Twitter, and YouTube. The health care clinic for the provision of cardiovascular services such as diagnosis, treatment, therapy, guidance, and counseling can create a page where many people will be able to see and like it if interested. Many people can be made familiar with starting a blog where they would offer wellness tips, discuss positive information related to the organization, and announcement of health events at a local level.
Benefits of implementing the healthcare business
Implementation of the healthcare clinic will reduce the cost of the patients, especially the money they were spending on transport. In Richmond city, there is no specialized healthcare clinic that addresses the needs of the cardiovascular community. Effective implementation of the business also benefits the organization as it will provide quality services to the patient through the elimination of standard errors (Larsson, 2017). Healthcare will be organized as it will perfect and eliminate any mistakes in the process of implementation. Secondly, during the implementation process, it is easy to solve any problem which might interfere with the consistency of the deliverance of the healthcare services. The feedback collected sends signals in case there is a problem. The process of problem-solving leads to the improvement of performance and making changes where possible.
Growth in production increases productivity and profitability (McClellan et al., 2015). Profit maximization is the goal of any business and satisfaction of the needs of the customers makes it easy to meet the expectation of the organization. Customer satisfaction will make them return to receive the services in the same organization. Increased profits will be due to meeting the expectations of the customers, increased employees’ performance, and reduced costs because the mistakes are eliminated. Thirdly, the services become more accessible to people who could not afford to travel due to health problems or financial issues. An older adult usually has the challenge of traveling when they suffer from cardiovascular diseases. Therefore, the services become available to them. Their expectations are met at the local level, and they will be able to regularly visit healthcare for checkups, medical examinations, or assessments.
Challenges of implementing a healthcare business
Organizational and cultural issues influence the ability of the company to take advantage of the new capabilities. Some of corporate cultures limit the operational activities of the organization. In healthcare, ethical and moral issues must be put into consideration before the implementation plan becomes effective. Additionally, there are policies, rules, and regulations that the business must meet before the operations take off (Schippers et al., 2015). The company must meet all the requirements as indicated in the health department. Some of the strict rules in the implementation of a new business hinder many people from opening and operating a business venture healthcare. Another challenge linked to the application of healthcare clinics high cost of purchasing equipment utilized. Some of the materials used in the diagnosis and treatment may be very expensive and before authorization to operate, it is a must to have them. The entrepreneur will need massive capital for the start of the operation of the business.
Support provided by the government
The government facilitates the operation of the business venture of healthcare by allowing nationals to visit any healthcare facility using health insurance. When patients visit private clinics, and they have healthcare insurance, they can be treated and deductions made on the coverage. Health insurance was a government entity, but it had to include the private sector to ensure the business operations continue (Sadiku, Musa & Momoh, 2014). Moreover, the government creates room for partnership between private and governmental organizations in the provision of healthcare services. The government collaborates with private organizations in fighting against cardiovascular diseases. As a global concern, cardiovascular diseases have made people pull efforts together in the provision of mitigation measures. They also provide partnerships in the creation of awareness (Frow et al., 2016).
The private clinic and public healthcare entity conducts research and come up with a concrete conclusion based on the problem. The entrepreneurs will be encouraged to establish more health care clinics because the government recognizes their presence and the efforts they are making in the provision of healthcare services. Medical clinics are profitable ventures where entrepreneurs s can make a profit within the first three months. The foods people are eating, and the lifestyle they enjoy is the cause of many health problems. Awareness of the type of diet and the benefits of physical exercise can assist people to understand what they should do to prevent frequent occurrences of cardiovascular diseases. The government provides training monthly, especially on new products.
The training is attended by both private and public healthcare professionals (Han, Gopalakrishnan & Lee, 2015). Most of the topics are related to technological changes which have occurred in the healthcare facility and how the healthcare professionals can adopt them to deliver effective services to the citizens or nationals. The training provided by the government encourages private investors to be interested in investing in the venture. The entrepreneurs will be updated on the technological changes and monthly training that make them improve the services provided.
Recommendations
The government should ensure there are political stability and security in the city. Terrorism has been a challenge where many people are attacked injured and killed. The patient would fear attending the healthcare clinics because their life might not be secure. When the government ensures there is security in the area, the business will run efficiently the customers are free to travel anywhere and get the services or products needed. Protection also encourages other investors as they know their assets are safe. It promotes economic growth because people can exchange goods and services. Investment from different organizations creates competition that is suitable for the provision of quality services or products.
Similarly, assistance that the government can help my business through the reduction of taxes which have affected the business operations (Norouzzadeh et al., 2015). Every activity, equipment, and service provided by the healthcare is tax at a rate which is very high. The charge is reduced to a moderate price; it would be easy to invest the money which was used as an excess tax to invest in other ventures. Furthermore, about the entrepreneurial venture of the healthcare clinic chosen to be established in Richmond city, Virginia, the government should help in providing care for the patients diagnosed with cardiovascular diseases. Some of the patients meet their death due to a lack of proper care, especially after diagnosis.
When the government offers exceptional care to the cardiovascular community, it would be easy for my healthcare to make follow up on the progress of the patients. Some of the services which the government can offer include food that has the right ingredients for people who have cardiovascular diseases and ensures education on the lifestyle the community should adopt. Patients who are aware of what is expected of them, will be easy to adjust and have a positive change. The government should provide special care on how the cardiovascular community would receive treatment, guidance, and counseling. There are cases when older adults who are diagnosed with cardiovascular diseases do not take doses as recommended by the doctor.
Conclusion
Implementation of healthcare clinics needs to adhere to moral and ethical requirements formulated by the health department. All policies, rules, and regulations must be met before the business starts its operations. The entrepreneur evaluates the innovative process which is used in the identification of business opportunities. Some of these include analysis of the services or products that will be provided by the business, targeting the customer expectations, being goal-oriented, implementing of the plan, and putting the program into action. Strategies that will assist in the development and growth of healthcare clinics include the creation of a positive image through participation in the community project and advertisement in online platforms. Social networking and use of websites can be used to advertise the services which are offered by the healthcare clinic, especially in the cardiovascular community. The implementation process of the business venture of a healthcare clinic has the following benefits; reduced cost, provision of quality services due to the elimination of mistakes, and increased profitability that is attributed to enhanced performance. Challenges to the implementation of the healthcare clinic are associated with adherence to ethical and moral issues. There are also policies, rules, and regulations that must be met before opening the venture. The government offers support to the healthcare clinic by training healthcare professionals every month on some of the new products and technological changes in the health department. The government reducing taxes and increasing security can help a business rise their performance hence making profits.
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