Life Care Children Hospital Business Plan: A Comprehensive Report

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CONTEMPORARY THEMES
Life Care Children Hospital
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Table of Contents
TASK-1 SUMMARY OF THE BUSINESS............................................................................................3
TASK 2- MARKET RESEARCH TO BE CONDUCTED BY THE LIFE CARE HOSPITAL.............................6
TASK 3 LIFE CARE CHILDREN HOSPITAL TO EMPLOY MEMBER ON ZERO-HOUR CONTRACTS.......8
TASK 4 ETHICAL DILEMMAS FACED BY THE LIFE CARE CHILDREN HOSPITAL...............................10
TASK 5 FINANCIAL PLAN OF LIFE CARE CHILDREN HOSPITAL.......................................................11
REFERENCES.................................................................................................................................13
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TASK-1 SUMMARY OF THE BUSINESS
EXECUTIVE SUMMARY
As the demand for the health care services has hugely risen up not only by adults but for the
children also so this report will focus on starting up the children health care hospital. This
report also encompasses the goals and the location, the marketing research to be conducted.
The hospital will carry out the operations related to the health care services treatment to be
provided to the children and junior adults. Though there are many other children hospital
running to provide the facilities to the children the specialized doctors will be available all the
time to treat the patients and get recovered from the diseases and to get improve the well-
being as soon as possible.
The children hospital will be named as Life Care Children Hospital and will operate in London,
UK. The services that will be provided by the hospital will focus on developing and improving
the well-being of the children who are hospitalized. The medical centre is basically the small
size business and will hold the capacity of treating 30 patients at once or 10 patients in the case
of an emergency. As the hospital is located in the main city of the UK, there is the huge number
of the people who would not be able to get the proper treatments and thus it will strengthen
the success of the hospital (Aaboen et al., 2017).
Mission: The mission of the Life Care Children Hospital is to nurture the children in the
protective environment and thus will provide a cheerful future to the children.
Objectives: The objective of the Life Care Hospital includes earning the maximum profit by
providing better quality services through the new technologies and equipment and to serve the
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customer value and protect the resources of the hospital. To constantly grow every year by 15%
with retaining the gross margin of 25% (Aaboen et al., 2017).
The expenses for starting-up the business would cost near £20,000. The amount will be utilized
in purchasing the equipment, medical materials, stationery, furniture, etc. there will be a
requirement of the additional cash in hand of £10,000 which will be funded by the General
Health Care Center.
The services that will be available for the treatment of the patients are as follows:
Genetic Diagnosis and Counseling: This section will provide the diagnosis services, counselling
and treatments to the patients with the genetic disorders (Slade et al., 2015).
Pediatric Cardiovascular Services: the heart diseases of the children are to be treated in this
section.
Pediatric Critical care: The entire critical diseases of the children are provided by the critical
care program.
Pediatric Gastroenterology, Herpetology and Nutrition: the wider range of the services related
to the treatment of stomach aches and intestines are to be provided (Slade et al., 2015).
Pediatric Psychology: The mental health of the children is to be solved by the doctors of Life
Care Children Hospital.
The hospital will include physician consultant, medical officers, anaesthetic specialist,
pharmacist, surgeon, pathologist and psychiatrists. There will be other staffs available all the
time in the observations of the patients (Slade et al., 2015).
The doctors of Life Care Children Hospital understand the factors that cause the problem of
disability to the children and prove to cure the incurable disease with specialized skills. They
will also provide the exercise facilities after the surgeries, proper diet schedules to the patients.
Success strategy
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The success strategy for the hospital will be focused on caring patients; educating them
towards precautionary care and making them understand the importance of regular check-ups.
For this, the hospital is going to implement a system of recalling and reminding the patients for
the check-ups. The success strategy will also depend upon the satisfaction level of the
customers which will be known by implementing the system efficiently and reducing the
waiting time for the patients.
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TASK 2- MARKET RESEARCH TO BE CONDUCTED BY THE LIFE CARE HOSPITAL
To start the hospital or to start any other business, the most important factor to be emphasized
is to survey the market and the requirement of the services among the people in that location.
With the help of the research conducted, the hospital will be able to recognize the issues that
are faced by the families and their children and would try to avail the required facilities to
them. Market research will also strategize the plans for the Life Care Children Hospital in order
to meet the objectives by exploring the competitors in the market (Morgan et al., 2019).
Primary Market Research that Life Care Children Hospital will Conduct:
 To study the entire market of the local area where the hospital is going to be
established.
 To gather the patients' opinions for the services to be provided.
 To collect information about the already established competitors (hospitals).
 To know whether the parents of the children, doctors influences the perception towards
the hospital services.
 To know that which type of medical treatment the patients required the most such as
vitamins, non-prescribed drugs and other nutritional supplements.
To collect the basic data that is to be required by the hospital for improving the services and
entire operations, primary research method is used (Morgan et al., 2019).
Secondary Market Research that Life Care Children Hospital will Conduct:
 To analyze the reputation and the perception of the hospital’s image in the market and
the availability of the substitutes.
 To focus on the effective channel of communication to be adopted in the hospital for
awareness among the patients.
The Life Care Children Hospital utilizes the secondary data for getting the research done with
the already available data (Morgan et al., 2019).
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Qualitative and Quantitative Market Research that Life Care Children Hospital will conduct:
With the help of qualitative research, hospital management will be able to know the psychology
of the patients. The personal interviews are conducted with the target customers identified
through the primary research. The targeted customers of the Life Care Children Hospital are the
children that are suffering from genetic diseases, disabilities issues, requires the mental health
care solutions, etc. through the personal interviews will require a huge time but will provide the
deep knowledge about the problems of the patients (Morgan et al., 2019).
The quantitative research will provide the actual figure of the patients to be targeted by the
hospital by conducting the survey in the market and selecting the respondents. The research
will be conducted by filling the questionnaire through paper or postal or online survey in the
local area. At least 150 responses will be required from the families to collect relevant and
reliable data.
Thus this research will help in getting the huge data from the patients/customers’ responses
and the requirements of the services to be offered by the hospital (Morgan et al., 2019).
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TASK 3 LIFE CARE CHILDREN HOSPITAL TO EMPLOY MEMBER ON ZERO-HOUR
CONTRACTS
The services provided by the Life Care Children Hospital have moved the business of the
hospital in a profitable direction. The management found to employ the staff members in the
hospital for the purpose of emergencies on the zero-hour contracts basis. The staffs that will be
employed on the basis of zero hour contracts are not required to be present in the hospital for
the whole day. Whenever there is the case of emergency in the hospital and sometimes during
the critical situation, there is a need for the additional staff (Koumenta and Williams, 2019).
The full-time and regular staff of the Life Care will have to work for the 60 hours per week and
the staffs are required to work as per the shifts (morning or evening) and will be paid the salary
on the basis of £8.00 per hour. The employees of the hospital are required to work for 50 hours
per week according to the shift and will be given £15.00 per hour. Due to the increase in the
number of patients and the emergency cases the hospital sometimes requires additional staffs
or increases the working hours of the nurses.
Law of equity and diversity to select the applicants in the Life Care Children Hospital:
The main factor that every employee of the company faces is the inequality issue and for Life
Care has decided to follow the law of equity and diversity to treat every staff and the employee
equally. The factors of discrimination such as age, gender, sexuality, etc. will be eliminated and
will be applied to not only zero hour contracts’ staff but to the full-time staff and employees
also. Equality is the term that refers to treating the employees at the workplace equally while
diversity refers to creating the culture by providing the societal values and individual values.
Thus this law will recruit the potential staff and employees in Life Care and will eliminate the
discrimination factors (Perelberg, 2018).
Rights of the staff members that are employed on zero-hour contracts:
The working hours of the staff recruited on the basis of zero hour contracts are not fixed and
are called only when there is the requirement during the emergencies in the hospital. Though
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all the rights of the full-time staff and the irregular staffs are same, the rights of the zero-hour
contracts’ staff are more benefits such as they have the facility of paid maternity leave and also
get the pre-notice during the end of the employment. The facility of working in flexible hours is
also given to the zero-hour staff members (Koumenta and Williams, 2019).
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TASK 4 ETHICAL DILEMMAS FACED BY THE LIFE CARE CHILDREN HOSPITAL
Life Care is planning to promote services at the most popular website in the UK. But it was
found that the website company was facing some disputes with the employees as the
employees of the company were facing discrimination and harassing by the management. So
the management of Life Care was finding it difficult to coordinate with the company for the
promotion of the services as it will impact the start-up of the hospital in a negative way. But it
was also the advantage for the hospital as the company was having a large number of followers
on the website and it will acquire a large number of patients for the hospital (Pozgar, 2019).
As the business objectives of the hospital suggest that the values are to be provided to the
patients and the patients targeted by the Life Care are the children so it would be risky for the
management to coordinate with the website company during the start up and get the
promotion done. So the hospital should focus on various other promotion strategies as during
the start-up the positive perception towards the image of the hospital is very necessary. For Life
Care, the staff members are the asset that will treat the patients and will increase the value of
the hospital.
For the promotion of the hospital services of Life Care, the management should publish the
advertisement in the newspapers, at televisions, by circulating the hand-outs, billboards,
banners, etc. The other efficient way of promoting the services can be to provide the free
health check-up to the children in school, colleges and through these, they will capture the
huge market (Pozgar, 2019).
The management of Life Care should provide better conditions at the hospital to the staff and
the employees as they work for the long hours. This will enhance the satisfaction of the staff
and thus will also enhance the treatment level of the children by providing the facilities to the
children (patients) with the advanced technology in an effective manner (Pozgar, 2019).
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TASK 5 FINANCIAL PLAN OF LIFE CARE CHILDREN HOSPITAL
The Life Care Children Hospital is going to start the business with the available fund of £20,000
which will be used for purchasing the furniture, equipment, materials of medical, etc. and
would also require the additional cash of £10,000 that will be funded by General Health Care
Center. It is also expected that the hospital will start generating the cash flows from the initial
month only.
The Life Care Hospital will have to acquire equipment for laboratories, operation theatre, and
other office equipment with the new technological advancement for regular activities. This will
cure the diseases of the children and will also provide the best future for them. The latest
technology equipment will also differentiate the service of Life Care with that of the
competitors (Lakhoua, 2018).
Month 1 Month 2 Month 3 Month 4
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
Net Cash Flow
Cash Balance
(Source: Author, 2019)
The above graph shows the total cash flow and the remaining cash during the operations of the
hospital. It is clarified that the cash flow of the hospital was maintained without facing any
losses and hence continued to be a profitable organization (Faulds, 2019).
To avoid the cash flow related problems in the hospital, the management should focus on
keeping the low overhead costs and should pay off the loans within the time. The management
of Life Care should also clear every due to avoid the delay payments and should take the
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advantage of credit cards during the payments and should generate the invoices for funding
and to avoid the mistakes in the process of billing, the electronic billing system should be
adopted in the hospital. The accounting records should be kept up-to-date as it will help in
preventing the crises of cash flow. The forecasting or budgeting should be done before carrying
out any operations. The financial facilities should be used on a temporary basis such as credit
card and overdraft facility (Faulds, 2019).
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