Primary Care Business Plan

Primary Care Business Plan
Introduction
A business plan is a well-structured outline of a statement that contains all the critical information about a particular business. The business plan includes all the primary data that a business requires before it starts to operate and at the same time ...
contains policies and strategies that will be used to steer up the business to success. Developing a business plan requires an individual or a group of well trained and experienced individuals who have the technical know-how of the business in question. At this point, the business plan to be developed will be for Elizabeth Jones who needs to start an independent primary care clinic. Since Elizabeth is looking forward to independence in her profession, it means that she will begin with a sole proprietorship.
Business Structure
The fact that Elizabeth Jones is looking forward to starting an independent primary care setting, it means that she will be the sole owner of the business. The business will be set in a manner that it will have one manager who will be authorizing all activities and will also be the one to oversee all processes taking place. Elizabeth will be the sole benefactor of the business in the sense that she will be enjoying all the advantages presented by the business (Buppert, 2015). Additionally, she will also be the one who will be responsible for all the losses that are incurred by the business. The communication strategy and decision making approach will also be staged in a manner that all activities will be presided solely by Elizabeth as she is the sole owner of the business.
Monthly Estimated Cost
Starting an independent primary care practice has been seen to have some monthly overheads that are essential. The monthly costs are perceived to be critical to the point that they cannot be evaded thus making them be a priority monthly expense.
Clinical State Expense
Clinical state expenses are expenses incurred by a business in acquiring the legalities and the licenses that are required to start and conduct a clinical business. Elizabeth will have to ensure that she gets to spend on obtaining a license that will allow her to conduct her clinical services. She will also have to get a confirmation from the government that gives her go ahead in doing her business. The above activities may total an estimate of around $2000. The amount is estimated to cater for all the named expenses to the point of making sure that the business is ready and set to operate.
Employee Structure and Expenses
The fact that the business is a sole proprietorship, it means that Elizabeth will either decide to work alone or employ professionals who will help her out. When it comes to employees, Elizabeth will have to source professionals who are well trained and experienced and at the same time who are registered. According to the new Nurse Salary guide, the minimum amount paid to a nurse practitioner is estimated to around $15,000 per month, which means that the amount may increase depending on the specification and level of train9ing of a practitioner. Additionally, Elizabeth will have some employees who will not be practitioners who will also be on her payroll. On estimate, Elizabeth will have to use a total of $10,000 in paying off all her on staff employees.
Supplies
Starting a primary health care is quite involving, and it will mean that an individual to be in the position to well understand the requirements and necessities that are required to start the business. The owner of the business will have to ensure that she can locate a constant supplier who will provide a continuous supply of the necessities of the business. Since the business is at the initial stage, it will require stocking of supplies that will ensure the business starts working. The total estimated amount needed for the stock is estimated at $100,000. The amount will be able to cater for all the essential supplies in the business.
Utilities and other Overheads Expenses
The success of the business will also be facilitated by other activities and actions that will attract a cost. For instance, electricity, internet, water bill and other unavoidable overheads that are incurred as the business operates. The total estimate amount ranges from $2000 to $3500 per month.
Malpractice Insurance
In the line of providing medical services, some incidences get to be risky to the point that they may put the life of a patient in danger. Such occurrences are supposed to be insured so that to protect a patient just in case. An estimate of about $150 to $580 per month is used to pay for the insurance.
Continuing Education Expense and Accounting Fees
Since there is a constant evolution in the field of medicine, it means that Elizabeth and her employees will keep training so that to be updated with the current state and situation in the medical industry. According to American Association of Nurse Practitioners, it is required that a practitioner gets to train and learn more about the new and evolving practices in the handling of different diseases. It will cost a minimum of $1000 per month to take a course that will improve and upgrade their experience in the same field. Above all, the business will require an accounting expert who will be taking care of all financial transactions. The business will at times hire external auditors who will get to audit and check the financial state of the business. For this reason, the business will have to incur a cost of around $100 to $500 monthly in catering for the accounting services.
Services Offered and Projected Monthly Income
The fact that Elizabeth has been a Nurse Practitioner for a long time, it means that she has all the experience needed to provide primary care. By deciding to start an independent primary care, it means that she has all the freedom of choice on what kind services that she will be providing in her business. The business will be able to offer primary care services, Drug screens, Drug prescription, pediatric services and emergency services (Ford & Gardenier, 2015). All the named services will be incorporated so that to ensure that the business gets to have a wide range of activities. Since the services will be charged, it means that the cost will be calculated based on the kind of services offered so that to be able to cater for the cost involved. With all the calculations done well a total estimate of around $75,000 to $300,000 income is estimated to be generated per month. The revenue will be able to cater for all the expenses anticipated by the business.
References
American Association of Nurse Practitioners (2016). State Practice Environment. Retrieved from <strong><a href=https://www.aanp.org/legislation-regulation/state-legislation/state-practice-environment target='_blank' rel='nofollow'>https://www.aanp.org/legislation-regulation/state-legislation/state-practice-environment</a></strong>
Buppert, C. (2015). Appendix 11-A: A Checklist for Setting Up a Practice. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). (384-397). Burlington, MA: Jones & Bartlett.
Buppert, C. (2015). Appendix 11-C: Sample NP Business Plan. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). (402-416). Burlington, MA: Jones & Bartlett.
Buppert, C. (2015). Practice Ownership: Legal and Business Considerations for the Nurse Practitioner Owner. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). (315-383). Burlington, MA: Jones & Bartlett.
Ford, L. C.. & Gardenier, D. (2015). Fasten your seat belts - it’s going to be a bumpy ride. The Journal for Nurse Practitioners, 11(6), 575-577
Nurse salary guide, (registered nurse salary) retrieved from <strong><a href=http://nursesalaryguide.net/registered-nurse-rn-salary/ target='_blank' rel='nofollow'>http://nursesalaryguide.net/registered-nurse-rn-salary/</a></strong>
Webb, A. R., Angus, D. C., &Finfer, S. (2016). Oxford textbook of critical care. Oxford: Oxford University Press.

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