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A business plan refers to an essential and critical document for describing how a business is going to establish itself with the utilization of different procedures to start the business (Abdullah, 2020). Furthermore, the business plan is vital for defining and writing the different pathways for marketing, financial management and how to effectively carry out all the different operations. This business plan is going to be based on the start-up of a nursing home. The name of the nursing home will be P&B Celestial Nursing Home and it will be located in Bedfordshire, East England, United Kingdom. In addition to that, an estimated budget of £350m for starting the business completely. The services of the start-up will be targeted at the individuals that are suffering from diabetes and heart diseases.
The Unique Selling Proposition of the business will be to provide quality health care services and medication support at a very reasonable price (Erlangga and Erlangga, 2021). Additionally, the business model of P&B Celestial Nursing Home will be based on personalised health solutions for delivering health care services (Sellak and Grobler, 2019). From the long-term perspective, the business will be completely concentrated on contributing to the formation of a healthy lifestyle for different individuals by effectively providing healthcare services that are superior to the competitors while also engaging in the process of providing services cost-effectively.
Generally, this study has provided a brief knowledge about entrepreneurship and leadership of business ventures. In this aspect, a brief detail about the business has been demonstrated and interpreted within this study of the report. Moreover, on the other hand, the location of the business and products or services of the business have been effectively discussed. Moreover, this report also efficiently analysed the market or industry data to demonstrate the growth of this new venture of P&B Celestial Nursing Home. In addition to this, the unique selling proposition and the competitors of this nursing home have been identified within this study. In this way, by taking a risk and contingency plan and funding plan and implementing a sales and marketing strategy, this study has been able to successfully address and interpreted all the necessary information regarding the study.
The business is named "P&B Celestial Nursing Home" to operate in the market of UK. It is located in Bedfordshire, East London in the UK. Generally, the fundamental purpose of this business is to provide premium quality health care services to those people who are prominently suffering from diabetes and different kinds of heart diseases. Whereas, currently, the rate of diabetes and different heart disease has been increased in the market in the UK; therefore, P&B Celestial Nursing Home will be established to provide sufficient and appropriate treatment and care to reduce the increasing rate of diabetes and different heart diseases in the UK. By utilising different kinds of advanced technological features within the workplace environment of this nursing home, the nursing home will be able to prominently provide appropriate healthcare and treatment to the patients to effectively cure them and overcome their sufferings.
Moreover, P&B Celestial Nursing Home will utilise the personalised health solution model during their organisational business operation in the market of UK. Through utilising and implementing this business model, the nursing home has enabled its patients to get their appropriate treatment. Moreover, this model also enables the nursing home to provide the most appropriate and resilient and exact treatment to all the staff to efficiently and successfully cure their health condition. However, in order to undertake this initiative for opening a new nursing home in the market of UK, the organisation needs around £350 million.
Therefore, it has decided to take loans from banks and other financial organisations to fulfil the entire estimated start-up budget. Moreover, P&B Celestial Nursing Home will provide premium quality healthcare service at a reasonable price. Through, almost every person will be able to afford the healthcare service facility of P&B Celestial Nursing Home. In this way, by targeting a large consumer base during the organisational business operation of P&B Celestial Nursing Home, this healthcare sector will be able to proficiently return all of its loans and also will be able to enhance its profitability and sales of services during its business operation.
The health care start-up business which will be named P&B Celestial Nursing Home will be situated in Bedfordshire, East England, United Kingdom. In this location, many popular and trusted hospitals are also located that comes under the Bedfordshire Hospitals NHS Foundation Trust which is an NHS foundation trust established on 1st April 2020 (Rohanian et al., 2022). The reason for choosing this location is the rising number of diabetes issues in England as well as the United Kingdom. There was a total of 3.9 million people were diagnosed with diabetes in the year 2019 and 90 per cent of the individuals were found with type 2 diabetes (Wilson, 2021). If this rate continues, then the number of people with diabetes in addition to the undiagnosed group of people is estimated to reach 5.3 million by the year 2025.
Furthermore, different studies in the United Kingdom have revealed how consumption of unhealthy food items is becoming more popular than ever. In these times of ongoing pandemic, the consumption of unhealthy food items can result in increasing the risk of hospitalization and potential death from the deadly virus “Covid-19” (Erdman, 2020). 1/3rd of the adults living in England are suffering from overweight issues and 1 in 3 children become overweight or obese after leaving the primary school as per the government and they also stated that the illness related to obesity are resulting in National Health Service facing huge costing around £6 billion/year (Aljunid, 2021). This can also result in fatal heart attacks. This is also one of the reasons for choosing the location to start P&B Celestial Nursing Home.
The government of the United Kingdom is investing and making effort in reducing the consumption of food items that are unhealthy such as fast foods for tackling the problem of obesity in the country (Mason, Pearce and Cumminsm, 2018). The UK government is deciding to ban fast-food advertising in the online space for regulating the impact. The Government cannot alone stop it, there is a requirement for other health care services such as P&B Celestial Nursing Home to contribute to tackling the situation.
"Diabetes was detected in about 3.2 million persons in England in 2017/18". Since 2008, the number of people in England who have been diagnosed with diabetes has steadily climbed. There has been a 44 per cent rise in diabetes cases in the ten-year period indicated. More than 2.9 million people in England have been detected with type 2 diabetes, which is the most common form of the disease. Type 1 diabetes affects roughly 243 thousand people. "Metformin Hydrochloride" was the most often prescribed diabetic medication in England in 2018, with more than 21.8 million prescriptions issued (Stewart, 2020). “A total of 5% of all primary care medications prescribed in England in 2018 were for the treatment of diabetes”. Since 2005, prescriptions for diabetic medications have gradually climbed. In the United Kingdom, cardiovascular disease refers to illnesses that damage the heart and circulatory system.
It is estimated that more than 1.8 million British citizens would be hospitalised in 2019/20 for a primary indication of circulatory system disorder. Coronary heart disease, commonly recognised as ischemic heart disease, was the cause of over 480 thousand diagnoses in 2019/20. There were 255 fatalities per 100,000 persons from cardiovascular disease in the United Kingdom in 2019, while Scotland had the highest mortality rate among the devolved countries, with 326 deaths per 100,000 individuals (Stewart, 2020). "For coronary heart disease, Scotland has the highest mortality rate of 134 per 100,000 people in comparison to the rest of the UK". There is an association between hypertension (high blood pressure) and cardiovascular disease. In 2016, "14% of the UK's population had high blood pressure, an increase from 2006", according to the statistics. High blood pressure is more likely to occur if a person's weight increases.
Coronary artery bypass surgery, a common therapy for coronary heart disease and one that decreases heart attack chances, was performed on roughly 14,2 thousand British patients in 2018/19. In 2016, the cost of a cardiac bypass on the NHS was around $8,500. In addition to surgery, about 73,000 prescriptions for blood pressure and heart failure medications were written in England to treat cardiovascular illness. People in the United Kingdom's lifestyle choices also have a role in the development of cardiovascular disease (Stewart, 2021). The number of hospitalizations for circulatory illness resulting from smoking in England was more than 775 thousand in 2019. Moreover, a quarter of individuals in Scotland between the ages of 16 and 24 have AUDIT scores that suggest a level of alcohol intake that is harmful. The "Alcohol Use Disorders Identification Test" (AUDIT) is a commonly employed test to determine whether or not a person is abusing alcohol.
However, over half of the individuals in the UK who have been afflicted with cardiovascular disease regularly engage in physical activity. Healthcare revenue is expected to reach $2,265 million in 2022, according to the company's projections. "A 7.60% compound annual growth rate (CAGR 2022-2025) is predicted for revenues, translating to an estimated $2,822 million market in 2025. By 2025, there are estimated to be 21.0 million consumers in the Health Care industry. In 2022, the user penetration rate is estimated to be 27.1%, and by 2025, it is predicted to reach 30.3%” (Stewart, 2021). 122.13 dollars is predicted to be the "Average Revenue Per User" (ARPU).
P&P Celestial Nursing Home is focused on providing the services that are; Diabetes services and heart disease. There are three major types of diabetes which are Type 1, Type 2 and Gestational Diabetes. P&B Celestial Nursing Home provides effective assistance in diagnosing the issues by providing skilled doctors, and nurses that are capable of providing the right solution for diabetes (type 1, type 2, gestational). Check-ups such as blood pressure checks, blood tests, A1C or glycated haemoglobin test, blood sugar testing which also includes fasting blood sugar test, Glucose Tolerance Test, Glucose Screening Tests are going to be available for the patients that are suffering from these 3 types of diabetes (Hillier et al., 2021). Furthermore, a specialist from a top hospital will also be called in for evaluating and checking the patient effectively and overcoming the problem while providing the correct solution via medication.
The tests such as Electrocardiogram (ECG), exercise stress test, Echocardiogram (ultrasound), Nuclear Cardiac Stress Test, Coronary Angiogram, Magnetic Resonance Imaging (MRI), Coronary Computed Tomography Angiogram (CCTA) are going to be available for the people to diagnose the heart-related problems in P&B Celestial Nursing Home (Anthony, Reyaldeen and Xu, 2022).
The specialist from NHS Bedfordshire Hospitals will be appointed, the doctors such as; Dr Nicholas Morrish who is a Consultant Diabetologist, Dr Shwe Zin Chit Pan who is also a consultant in Diabetes and Endocrinology. Furthermore, Dr Ritwik Banerjee, Dr Sarika Deshpande, Dr Ronald Misquith, Dr Nisha Nathwani, Dr Tariq Rehman, Dr Shiu-Ching Soo, Dr Kah Fai Wong for diagnosing the health issues related to the Diabetes. In addition to that, more specialist doctors will be called from the different hospitals as well as appointed to provide effective solutions to heart problems (Bedfordshire hospitals, n.d.). The Cardiology will be handled by Dr John Cooper, Dr Ramesh de Silva, Dr Moj Goonewardene, Dr Mahmud Al-Bustami, Dr Maysaa Alzetani, Dr Ganesan Kumar, Dr Sanjay Kumar Kohli, Dr Neil Marcus, Dr Chanaka Nandasiri, Dr Chris Travill and many more will aid in providing proper solutions to the heart problems (Bedfordshire hospitals, n.d.).
Generally, the unique selling proposition of P&B Celestial Nursing Home is providing premium quality health care service and treatment facility for Diabetes and Heart Diseases at a reasonable cost. This will significantly and prominently help the organisation in order to proficiently develop and enhance its organisational competitiveness and dominance in the market of the UK. Generally, the competitors of P&B Celestial Nursing Home are "Spire Healthcare", "Ramsay Healthcare", "Intermountain Healthcare", "Getinge", "Partners Healthcare", etc. can significantly and competitively hamper the business operation of P&B Celestial Nursing Home in the market of the UK.
Because of this, P&B Celestial Nursing Home will be able to lower negotiating power of purchasers, as well as simplify its sales and manufacturing processes. P&B Celestial Nursing Home might restrict the negotiating power of purchasers by constantly inventing new services and healthcare amenities. Competitive pressure from new competitors in the healthcare industry is forcing P&B Celestial Nursing Home to decrease prices, reduce expenses, and provide new value propositions to its clients. It's up to P&B Celestial Nursing Home to handle all of these issues and develop effective barriers to protect its competitive advantage. P&B Celestial Nursing Home's Mission is 'making a positive impact on the patients' life via superior individualised care', which was defined by its "Senior Leadership Team" and "Medical Advisory Committee Chairs" during the year. Uniting the strategy's teams and stakeholders around the same aim, this is enabling us to bring the plan to life.
The goal of the purpose is to have a good impact on all of its co-workers by fostering an environment of mutual respect, inclusiveness, and cooperation across the company. A lot of money has been invested in the company's internet platform in recent years. This investment has given P&B Celestial Nursing Home access to new markets. A company's ability to anticipate and satisfy future client needs may be improved through big data analytics. As the market expands, P&B Celestial Nursing Home will lose some of its competitive advantages, giving it an opportunity to catch up to its competitors. They may use a company's core competencies to succeed in completely another field. GE, on the other hand, was able to build better oil drilling rigs because of its study into healthcare. Thus, there has been a drop in profitability and total sales over the previous two years as the number of industry players has expanded.
Operation Plan is another component of the business plan that is vital and important for the start-up business for creating the outline of what are the activities that are required to be carried forward and the timeframe for accomplishing those missions as well as the objectives of the business plan (Buljat, Covic and Galic, 2020). The question of “HOW” to accomplish those long-term goals, mission and objectives is answered in this operation plan.
P&B Celestial Nursing Home Operational Plan
Mission
P&B Celestial Nursing Home is focused on bringing the skilled and best individual people that are dedicated to delivering and providing effective health care practices and delivering the superior and highest quality services to the patients.
Vision
The vision of P&P Celestial Nursing Home is to become a world-class leader in providing personalised health care services to patients. In addition to that, the hospital is also putting heavy emphasis on contributing to popularising a healthy lifestyle among the patients.
Value Proposition
The values of P&B Celestial Nursing Home are going to be the basic foundation of the business and these values are what define P&B Celestial Nursing Home. The values are; Engaging in providing the right health care services, innovation is our passion, simplicity, commitment.
Goals and Objectives
The goal and objectives of P&B Celestial Nursing Home are to engage in carrying out the business operations effectively and efficiently. The goals and objectives are to become the world-class market leader in delivering personalised health care services to patients.
Value Chain
The supply chain for the health care business is very important and P&B Celestial Nursing Home is going to put heavy emphasis on making sure that the supply chain is being effectively managed (Borges et al., 2019). Digital Supply Network which can also be called a Cloud-Based Supply Chain can be effectively utilized to connect with the supply chain data (Giannakis, Spanaki and Dubey, 2019). The utilization of Artificial Intelligence, Blockchain technology etc will be utilized.
Timeline and Milestones
It is estimated to take around 9 months to fully start the business and the opening anniversary will take place on 1st January 2022 every 6 months, the overall performance of P&B Celestial Nursing Homes going to be evaluated.
Budget
The budget for carrying the business forward is estimated to be £350m for appointing all the specialists for diagnosing diabetes issues and heart diseases. Furthermore, to construct the building going to take at least £3000 to establish a double-storey building. The financial resources will be utilized accordingly for buying new technological tools for better health care effectiveness and efficiency.
This plan is necessary to identify risks that are unidentifiable or unknown. To fight the deadly virus, the use of essential gear will be used like gloves of all kinds, N95 respirators, protective googles etc are going to be implemented in P&B Celestial Nursing Home to provide the health care services in a healthy and safe environment (Liu et al., 2020). For any failed test report, it is essential to report to the managers that are accountable for finding a solution to repair or replace the defective testing kits with the right ones. For increasing the success rate of the health care operations that is being given to the patients, there is a requirement of providing regular effective training and development to all the staff including nurses, manager, doctors and all the other individuals working in the hospital.
The training programmes will be introduced regularly to reskill and upskill the staff which can contribute to the success of the business (Goldsack and Zanetti, 2020). This is also part of the contingency plan for overcoming the problem of failed healthcare operations which has the capability of affecting P&B Nursing Home in the long run. The utilization of cloud computing to store data of the patients effectively and in the time of any criminal cases, the stored data in the server of the hospital can aid the law to solve the case or capture the criminal (Siddiqi, Ali and Sivaraman, 2019). This is also a very important part of the contingency plan. Implementation of fire extinguishers, fire sensors and alarms, and emergency exits in P&B Nursing Home is critical for the safety of all the individuals working in the nursing home. For incidents such as earthquakes, fire accidents etc, these safety measures can be effective.
The P&B Celestial Nursing Home may believe that its competence sets it unique from other healthcare providers, medical offices, or even hospitals. The reality is that to a patient, every white coat looks the same, and customers are notoriously wary of buying products or services from someone they don't know or trust. For a brand, it may take some time to discover what works best for it. However, P&B Celestial Nursing Home gradually understands how to effectively portray its brand in any advertising material, so the healthcare marketing plan comes together easily. Prospective patients used to be impressed by having a healthcare brand's website alone a decade ago. However, a website is becoming the new front door for healthcare. A poorly designed website may be the final thing a patient considers when deciding whether or not to go to a hospital or healthcare facility.
When it comes to creating a website, keeping the end-user in mind is critical. When it comes to designing a website, some developers get so caught up in making it appear nice that they overlook the patient experience. In many cases, P&B Celestial Nursing Home discovers that websites must be redesigned from the ground up. Small modifications, such as moving the "Contact Us" form up the page, may be helpful. Responsive web design means that no matter what device people or patients use to view the official site, the organisation will have the same great experience no matter what size screen it is looking at it on. Search engines check for it while scanning medical websites to decide how and where the organisation will rank. It becomes the standard in website design. As a result of Google's focus on user experience, it will prioritise rivals with mobile-friendly websites.
The mobile digital healthcare environment is best served by responsive websites. Although P&B Celestial Nursing Home has a responsive website, it must ensure that its information and images continue to load correctly on mobile devices. Medical practises and hospital networks may benefit greatly from the use of "Search Engine Optimization" (SEO). Most marketing experts don't know how complicated it really is. People can't just use the keyword "healthcare practise" 100 times on its website and expect to rank #1 on Google for physicians in its region who provide healthcare services. In order to appear at the top of the search results for certain keywords, these are paid advertising known as “Pay-Per-Click” (PPC).
To maintain their site at the top of search engine results, an organisation may set a budget for pay-per-click advertising and select how much money it is prepared to spend. With both PPC advertisements and display ads that show in the sidebar or at the top of other websites, the "Return on Investment" is clearly stated. Too many healthcare facilities and practices depend heavily on organic social media platforms for their digital marketing efforts. As a healthcare provider, a business may use organic social media in a variety of ways to keep patients up-to-date on what's going on in your practice and promote the brand.
As discussed in the business plan that P&B Nursing Home is going to take approximately £350m to fund the business to be formed and carry out the business operations. This £350 million will be taken as a loan from the financial institutions of the United Kingdom such as Boost Capital since it is the most recommended fund provider for the businesses. The profit of the business will be utilized for returning the business loans with interest to the loan provide named Boost Capital. The construction of the building of P&B Nursing Home is going to take at least £3000 to establish a double-storey building and to appoint a skilled and expert individual from different hospitals is going to require at least £100m and furthermore, to keep up with the technological advancements and purchasing all the new and effective technological tools such as Defibrillators, patient monitors, EKGs, anaesthesia machines, sterilizers, ultrasounds, electrosurgical units etc are going to be bought by £150 million of financial resource (Sezdi, 2019).
An additional £100 million will be utilized in taking care of the employees well being and making them more capable of handling the health care operations. The reskilling and upskilling will be very important for P&B Celestial Nursing Home to increase the market share, generate more revenues and remain more profitable (Rawashdeh and Tamimi, 2019). By investing in this, P&B Celestial Nurse Home can make sure that the success rate of the health care operations is on the rise by constant reskilling and upskilling. There are also plans for managing the daily business operations effectively and for those more financial resources will be used in providing high-quality health care services at a reasonable price.
In order to significantly and proficiently manage and lead the entire venture as the name of P&B Celestial Nursing Home, I will utilise and implement the most effective and resilient strategic approaches and theoretical models. Through this, I will be able to efficiently enhance and develop the organisational business operational process. Moreover, the utilisation and implementation of the most advanced technological features within the workplace environment make me and my healthcare firm more significant for providing premium and high-quality treatment and healthcare service to the patients. In this way, the engagement rate of the patients will enhance to help develop my organisational profitability and sales.
Moreover, in order to provide the most resilient and trustable treatment and healthcare facility, I will implement the most effective and advanced recruitment and selection process. Through this, I will be able to get the most talented and efficient healthcare professionals and practitioners within my firm. In addition to this, I need to make a large base supply chain in order to get quick and sufficient and prominent service and supply of the required products and services to efficiently and proficiently treat the patients. Moreover, I need to involve doctors who are specialists in diabetes and heart disease. These will help me to enhance my organisational credibility and acceptability in the market of UK. Thus, by providing premium quality treatment and healthcare facilities at a reasonable cost, I will be able to get prominence and will be able to successfully gain an extensive competitive advantage in the market.
This business plan has come to an end. It involves the business plan for P&B Celestial Nursing Home to be successfully established. It can be concluded that making the business plan is not simple and requires many important stages to be taken care of such as allocation of funds, supply chain, vision and mission statement etc. Furthermore, it can be identified that P&B Celestial Nursing Home can be a very effective business since the rate of diabetes and heart diseases is on the rise due to the consumption of unhealthy food items as well as unhealthy daily routines of the people. As discussed in the business plan, how the United Kingdom Government is taking extra measures to contribute to overcoming the problem and the addition of another nursing home can be very helpful for addressing the problem and most importantly for taking care of the well-being of the different individuals working.
The loan is going to be attained from Boost Capital, the UK's most recommended financial institution that provides loans to individuals as well as businesses in the United Kingdom. In addition to that, market analysis is very critical for increasing the rate of success of P&B Celestial Nursing Home. Discovering and realising the Unique Selling Proposition of any business organization is very important. The discussion on sales as well as a marketing strategy and how the management of the team and leadership is so important for P&B Celestial Nursing Home has also been discussed.
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