Purpose of Final Assignment: The final assignment is a major component of the practicum experience. Students are expected to analyze and provide direction of a business plan activity that will benefit the organization and contribute to the student’s ability to achieve the course outcomes. The student is to assess the need for the business expansion, analyze the feasibility of the project and recommend whether to move forward or deny the project. A market analysis and various financial sheets will be provided to the student to analyze the profitability of the business plan project. This project will require extensive review of materials as well as research to decide whether the project is feasible. The student may need to review the literature on the profitability of organizational projects.
The student will be expected to present a formal power point presentation to the senior leadership team discussing the program expansion. Each slide of the formal power presentation should include note slides that can be reviewed by the CEO two days prior to the presentation. An executive summary of the business plan expansion also should be provided to the CEO two days prior to the presentation. The executive summary must include the purpose of the project, brief market analysis, financially feasibility of the project, and recommendation by the student whether to move forward in the expansion. The student is to describe all the steps of business plan implementation, and describe how the business expansion is profitable or not in each of the steps of the business plan. The student is to refer to these materials during their presentation as specific questions will be directed towards each on the business plan steps by senior leadership.
This assignment enables the student to meet the following course outcomes:
(CO#1) Synthesize knowledge from evidence-based literature as a foundation for the executive role (PO1).
(CO#2) Demonstrate leadership skills of the nurse executive in an organizational setting (PO2).
(CO#3) Integrate effective communication techniques and relationship management in the role of the nurse leader (PO3).
(CO#4) Utilize critical inquiry and judgment in organizational decision-making (PO4).
(CO#6) Demonstrate the elements of human caring, legal and ethical principles in the role of the nurse executive (PO7).
(CO#8) Delineate effective resource management and fiscal responsibilities of the nurse executive (PO8).
Number of Attendees: 3-4 senior leadership/ administrative team—that could include CEO, CFO, CNE, Director of the Inpatient Cardiac Unit, Director of Marketing, Director of Engineering, various nurse managers.
Description of Scenario (overview):
You have been asked to present a business plan to assess the feasibility of establishing a Cardiac Wellness Program at St. Louis Medical Center. In your business plan you will present an executive summary and detailed report including the seven steps outlined in your lecture week five; as well as includes a break even analysis for the first year of the program.
Much of the information has been given to you. You will be required to evaluate the information given to you and develop the financial tables that will support your presentation.
Internal questions to be considered—
– What are the goals of the Cardiac Wellness Program? What are some of the positive reasons for the hospital to develop a Cardiac Wellness Program?
Why invest time and money in the Cardiac Wellness Program?
– How do the program’s goals fit with the mission statement of the hospital?
– What will the program do for the hospital? What are its strengths? What are the
– What will the program do for the patients? What types of patients does the hospital primarily serve (i.e., those with cardiac disease/heart failure)?
– What additional services will be provided by the new Cardiac Wellness Program?
– How will the service be staffed?
– What cost savings would be achieved, if any?
– What is the medical staff composition at the hospital, are there any leading cardiologist admitting cardiac patients to the hospital?
External questions to be considered—
– Do a bit of research on the topic… rate of heart failure in the United States,
how many new cases diagnosed each year, what does recent research show about patients enrolling into a cardiac wellness program?
– Is there a growth rate in the population that the hospital serves—any changes in
the population base (i.e., baby boomers reaching the age of 65 and older)?
– Are there any economic changes of the community?
– Has the hospital remained competitive in its market share? What part of the
market share of cardiac patients does the hospital own? Is there a potential for the hospital to increase its market share of cardiac patients as a result of the new program? What are the opportunities?
– Who are the hospital’s competitors? Are any of the hospital’s competitors expanding services in the next few years, if so in what direction? Do any of the competitors pose a threat? Are patient’s satisfied with their care at these other institutions?
– Does distance pose a threat?
– How might you market this program and who would you market it to?
Do you think it is a feasible project to do, should the organization invest in this Cardiac Wellness Clinic?
Table One: Estimated Revenues
Calculate what the patient volume and revenue should be for each payer mix. Also, based on the variable cost, calculate the contribution margin for each payer type and the weighted average contribution margin (Round your numbers.)
Estimate the annual revenue.
Table Two: Estimated Expenses
You need to provide what you think the anticipated expenses are.
Table Three: Break Even Analysis
Perform a break-even analysis. How long is before a profit is made?
Table Four: Pro Forma Statement
In the pro forma include the following categories and make the pro forma for 12 months:
1. Patient Volume (unit of service)
2. Patient Revenue—per patient and per month
3. Variable Costs
4. Fixed Costs—salaries, remodel costs, supplies, medication costs, capital equipment and office furniture
costs, depreciation, bad debt, etc.
5. Net Gain or (Loss) per month; Cumulative Net Gain or (Loss)
The student will be able to assess the feasibility of the Cardiac Wellness Program at St. Louis Medical Center.
The student will successfully incorporate the seven steps of the Business Plan.
I will upload all my weekly summaries to be included in the PowerPoint, along with the Financial Data reports that will need to be completed for the assignment. Please include graphs. APA format too!