RAIM 440 New Business Planning in Healthcare • 5 Cr.
Covers planning and developing a new business venture within the healthcare industry. Includes plan development, pro-forma budget, estimates of market audience and planning, sources of financing, tracking response and success. Case studies are used to bring a contextual focus on specific departments and organizations in the healthcare industry. Prerequisite: Prerequisite: RAIM 401 and acceptance to the program, or permission of instructor.
After completing this class, students should be able to:
- Analyze the essential elements of a business plan and define associated terminology
- Develop statement of purpose for new or other business scenarios for healthcare organizations
- Evaluate the detailed market research needed to support the business plan and outline market research process
- Develop business options and scenarios and compare each for strengths and weaknesses in the context of healthcare organizations
- Outline operating procedures and resources, implementation, transition plans needed to support the new or other business scenarios in the healthcare industry
- Evaluate risk to the existing operations associated with starting the new or other business scenarios in the healthcare industry
- Develop detailed financial information, including loan, capital equipment and supply list, balance sheet, breakeven analysis, pro-forma income projections for healthcare organizations
- Develop detailed documentation of assumptions upon which projections were based
- Analyze sources of financing and develop recommendations
- Develop presentation and supporting material to present new or other business scenario concept to various stakeholders and potential investors
- Assess legal, ethical and conflict-of-interest issues that may relate to the launching of the new or other business scenario in the healthcare industry
- Debate key elements in the selection of the management team for healthcare organizations
Develop communication plan and instruments to inform organization and relevant community