A business plan’s FINANCIAL PLAN

    Assume you are asked to develop a plan to provide more services in your current market, provide new services to your existing patients, or begin operations in a new market. You will need to collect and analyze data on current utilization and the need for more services in the current and/or new markets to determine how many additional services could be produced, the additional revenues that will be earned, and the cost of additional labor supplies, equipment, and facilities. A business plan is a document typically prepared to obtain funding and/or financing. You will be using the four major elements: an executive summary, a description of the company or department, a marketing plan; and financial projections. The overall business plan is built up as these individual segments are completed. FINAL GROUP PROJECT DELIVERABLE INSTRUCTIONS: For this group assignment, you will create a formal PowerPoint (PPT) about your fictional Healthcare Business. You are preparing a presentation for your executive leadership team. The business plan must be related to the healthcare field (e.g., a doctor’s office, a home healthcare practice, a new hospital, etc.). This assignment is worth 200 points. A business plan’s FINANCIAL PLAN includes a current and pro forma balance sheet, an income statement, and a cash flow analysis. It allows leaders to make appropriate resource allocations, handle unforeseen complications, and make efficient, logical, evidence-based decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan package. Additionally, it can inform sales personnel, suppliers and others about your operations and goals. Your business plan should precisely define your business and identify your goals. It serves as your company’s resume (see course text Chapter 25).