Business Expansion Proposal

Topics: Physician, Internal medicine, Medicine Pages: 19 (6638 words) Published: October 5, 2012
The business I am using for this task is my family medical practice. The names of the practices and the physicians including the competitors, which will be used for the purpose of this paper, will be fictional names. Also the privacy and confidentiality policy according to the medical ethics will be honored. The fictional name for the physician of the medical practice I am doing a business proposal for is Dr Kinsley Eric and the name of the practice is Shalom Internal Medicine VIABILITY OF THE SERVICE

Below is the Google analytic report provided by the local marketing company that set up Dr Eric’s website. The report shows how weak the online management of Dr Eric’s office is presently and the need to expand and increase traffic to Dr Eric website becomes critical for the office to keep existing with good returns. The graph on the first page shows how drastically the web visits has decreased from March to July 2012. At its peak stage in March, 65% were new visits while the returning visits were just 35% and the decrease in the web site visit is practically down to zero within 5 months ("Google analytics," 2011). That was not a very good result for a growing and advancing practice. Now let research briefly into Dr Eric’s medical practice background: Shalom Internal medicine is a professional incorporated health care company and Dr Eric has an extensive knowledge and years of experience working in Nursing homes, Hospitals, Emergency room/urgent care and office practice. The practice is a small sized medical business that started in a rural area of TX (Paris) less than a year ago. He had worked in a rural area in IA for 15 years before he relocated to Texas. Because of the small size of the company, the short duration of its existence in the new location, the high overhead cost, escalating account receivable, annual lowering of reimbursement by the insurances coupled with the strict coding compliance, Dr Eric has been faced with significant challenges. The volume of patients the physician is seeing presently is average of 6/day but his threshold to break even is to see an average of 20 patients/day. Shalom Internal Medicine currently has a website with a web map that specifies 1) the physician bibliography, 2) the services provided, and 3) articles of varied medical conditions. They also enter forms that include HIPPA notice of privacy, insurance waiver, medical record release and patient registration form. Amongst these, the office has a Face book account, although it is not very current or active. The last activity was about 4 months ago when the pictures of the office open house were uploaded. The key recommendation for my online expansion proposal will include the 1) revision of the current system that will improve patient care and satisfaction, 2) public notification and awareness of the new practice existence, 3) strengthening and improving the practice social media activities and involvement, 4) increase patient load that will ultimately improve the profit margin and cash flow. The business target audience according to the current online specifications is elderly patients. My online proposal will also include ways to expand into patient demographics like teenagers, athletes, young adults, athletic directors, small groups, and different organization in the community for workers compensation. Home care and Hospice will be included in the business expansion by including this in the improved website. Also the proposal will include ways of reaching the international and global audience through the social media link and its inclusion in the new web index or site map. Online job posting in the new web site when the need arises for new employees is another part of my proposal. This would expand the field of potential candidates and increase the chance of the practice getting well experienced and qualified personnel....
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