HCA 620 Week 4 Discussion 2
Read “A Good Business Plan Can Put Your Practice in the Driving Seat.” The article mentions the competitive nature of the general practice. How can a well-written business plan provide a competitive edge?
Answer:
A well-written business plan can provide a competitive edge by giving a general practice the ability to strategize effectively and keep up with the changing healthcare industry.
For example, the business plan could include specific strategies for increasing revenue, such as identifying new markets in which to sell products or services. The business plan could also help in determining how much money is needed to get started. This would allow the general practice to create a budget that outlines how much money will be used for rent, supplies, staff members, and other expenses during their first year of operation.
In addition to these strategies, a good business plan should also include details about how the practice plans on growing its market share over time. This will give them an idea of what steps need to be taken in order for them to reach their goal of becoming more profitable over time through increased sales volume due to increased demand from consumers who want access to their services/products at affordable prices (which is why they need access).
Question:
HCA 620 Week 4 Discussion 2
Read “A Good Business Plan Can Put Your Practice in the Driving Seat.” The article mentions the competitive nature of the general practice. How can a well-written business plan provide a competitive edge?
