Business Plan For New Wellness Center Marie Saylor Chamberlain College of Nursing NR 533: Financial Management in Healthcare Organization Summer 2016

Running head: BUSINESS PLAN 1
Business Plan for New Wellness Center
Marie Saylor
Chamberlain College of Nursing
NR 533: Financial Management in Healthcare Organization
Summer 2016
BUSINESS PLAN 2
The purpose of this assignment is to purpose a business plan for a new wellness center for
Saint Louis Medical Center (SLMC). This new wellness center will service the community
needs. Not only will it service the community needs but also Saint Louis Medical Center mission
and value statements. SLMC organizational goals and objectives are to help decrease the
amount of readmissions of cardiac patients.
The wellness center will offer such services like education, exercise, weight management, and
counseling. Medication therapy and physical assessments will be evaluated as well. Recent data
suggest that a wellness center can help lower costs because patients are less likely to be
readmitted. A wellness center will improve the health of SLMC patients as well.
Steps to Develop a Business Plan
Saint Louis Medical Center will need to develop a business plan in order to communicate to
the board that a center is in fact needed. The business plan will need to identify the objectives
and settings of the actual wellness center. According to Barkhuff (2014), a business plan will
identifying objectives, development strategies, will give the definition of the activities and
responsibilities, measure and improving the results, give a performance evaluation and
communicate a message to those that will approve the plan. Potential investors, like Amelia
Earhart will need to be mentioned. The investors will need to see the plan written out, and facts
displayed in order for them to agree to financing. According to Barkhuff (2014), there are four
steps in a good business plan; vision, objectives, deliverables’, and roles and responsibilities.
SLMC will need to have a vision. This step should describe where SLMC will want to
become over the next three to five years (Barkhuff, 2014). SLMC will want to let investors know
that there is potential for growth for a wellness center because of the increasing numbers of
cardiac patients.
BUSINESS PLAN 3
The next step is defining SLMC objectives. This step will need to describe how SLMC will
achieve their vision (Barkhuff, 2014). SLMC objective is to build a wellness center that will
provide education, exercise, weight management, counseling medication therapy, and physical
assessments to patients off campus. How can they do this? They will need funding. The funding
will come from donors and the Amelia Earhart Foundation. SLMC is also expecting funding
from the state government. The state will help in implementing a community needs health-
services program. The funds will go towards salaries and future growth of services. The medical
director has made a considerable donation which will cover salaries and materials. After Amelia
Earhart donation total expenses for the first year will be under 1 million dollars.
The third step in developing a business plan is to take each objective and describe what will
need to be completed in order to accomplish the objective (Barkhuff, 2014). The wellness center
services will be offered first to only to SLMC outpatient clinic location. This is due to financial
reasons. According to Brad (2014), the least flexible part of a business plan is financials. Due to
SLMC building the wellness center largely on donations it is an unreliable source of funding
Brad, 2014).
The fourth and final step of developing a business plan is to put in place roles and
responsibilities. The final step takes each deliverable and will pair it will members of the staff.
Saint Louis Medical center will focus on the needs of the entire person. In order to achieve this
goal the wellness center will need to break down into categories. The staff will consist of a
medical director, a nurse practitioner, two registered nurses, two receptionists, a pharmacist, an
exercise trainer, and a dietician. Some of the staff will volunteer their time, and others will come
from the hospital and work in the wellness clinic.
Alignment with Organizational Mission and Vision

BUSINESS PLAN 4
The wellness center will focus on Saint Louis Medical Center mission and value statement.
The mission of any business plan should be to satisfy the specific needs of the group that it is
intended for (Brad, 2014). SLMC is dedicated to giving each patient they treat high quality of
care and to provide a supporting environment. SLMC will also optimize the quilty of life of each
patient. Providing a wellness cent will indeed fulfill the mission statement. A wellness center is a
commitment provided by SLMC to the community to assure that the psychosocial, emotional,
and physical needs are met. A wellness center will help deliver quality care to current patients
and patients to come.
Strengths and Weaknesses
With any business plan there will be strengths and weaknesses. According to Brad (2014), a
business plan will need to present the positive and negatives because this will give the plan
credibility. Risk management is another way of explaining the weaknesses of a business plan.
Such risks are physical and financial (Brad, 2014). The physical ones include the action material
needed to build the center. The financial risk will include the amount of fixed assets (Brad,
2014). In the case of SLMC, the wellness center weakness is that they need to rely on donations
and volunteers in order to maintain function. The strength is that the state is involved and knows
that a wellness center will cut cost in readmissions.
Throughput Considerations
Throughput is the amount of service SLMC can deliver to a client in a specific period of time.
Since cardiac issues and readmissions are on the rise the wellness center can deliver care now
and in the future. The good thing about a wellness center is that people are always sick and in
need of care to be delivered. The community will always need a center to provide care that they
cannot do in the hospital setting.

BUSINESS PLAN 5
Marketing Strategies
Saint Louis Medical Center needs to develop a marketing strategy to develop its role in the
market. Why does the community need a wellness center? The hospital needs to know who and
what the market is. For example, it a wellness center marketed toward babies or to older adults?
How will competition affects the hospital and how will they promote the center (Brad, 2014). A
marketing plan is a document that will facilitate the achievement SLMC goals (Gandolf, 2015).
Conclusion
Saint Louis Medical Center would like to build a wellness center that focus on the needs of
the entire person. The wellness center will also apply wellness principles not just disease
management. According to Brad (2014) A business plan needs to be creditable and realistic.
SLMC will need to develop a successful business plan, which is well structures and be clearly
understood.
BUSINESS PLAN 6
References
Barkhuff, S. (2014). Putting Strategy into Action to Accelerate Growth. Journal Of Financial
Planning, 27(6), 20.
Brad, I. (2014). Business Plan -- Major Management Tools in Development of A Business.
Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol, 16(2), 214-
217.
Gandolf, S. (2015). What is a health care marketing plan? Healthcare Success. Retrieved from
http://www.healthcaresuccess.com/blog/healthcare-marketing/what-is-marketing-
plan.html

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Running head: BUSINESS PLAN 1

Business Plan for New Wellness Center

Chamberlain College of Nursing

NR 533: Financial Management in Healthcare Organization

amount of readmissions of cardiac patients.

Steps to Develop a Business Plan

from the hospital and work in the wellness clinic.

Alignment with Organizational Mission and Vision

and patients to come.

Strengths and Weaknesses

that a wellness center will cut cost in readmissions.

cannot do in the hospital setting.

Planning, 27(6), 20.

Brad, I. (2014). Business Plan -- Major Management Tools in Development of A Business.

Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol, 16(2), 214-

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