Abc Assignment Help

NextGenHealth Plus Business Planning

Prepare a report about NextGen Health Plus operational plan, organizational plan, risk assessment, venture description, industry analysis, and marketing plan.

Answer

Course: Master of Business Administration in Banking & Finance

Module: Applied Business Projects- Business Planning (ASB-4904)

Assignment: Business Planning 

Executive Summary

Artificial intelligence is the latest technology which can be used in various fields. NextGenHealth plus is a healthcare facility that uses AI to improve the services. It is a Bangalore based company. The main services provided by it are future health predictor and treatment planner. It also helps the computers to classify impressions inside genetic result sets. This report includes the operational plan, organizational plan, risk assessment, venture description, industry analysis, and marketing plan. However, the size of the NextGenHealth plus business would be based on the number of the employees, process cycle and initial investment made. However, in NextGenHealth plus, there would be 12 IT staffs apart from the nurses, doctors and general staff members. This newly set up business would be supported by the advance technologies and its need in hospital health care industry. In addition to this, All the entrepreneurs indulged in incorporating the NextGenHealth+ Art of the treatment plan to a medical practitioner and Future health prediction using genomics are from the medical field. Most of the relatives of the entrepreneur are doctors and scientist. NextGenHealth+ targets Public medical institutions, Public and Private Hospitals, and General and specialty Clinics in Bangalore, Mumbai, Delhi, Kolkata, Jaipur, and Chennai in India. This will be helpful in generating the good amount of revenue from these cities in India

1. Introduction

The NextGenHealth+ use data-driven analytics, advisory services and deep learning such as AI, help the medical professional to diagnose and treat the patient disease better. Machine learning is a part of science which allows computers to produce possible results which can happen in the future. It also represents a major part of artificial intelligence. Deep learning is a category of machine learning which is a collection of algorithms designed in a hierarchical way in several levels (Amadeo, 2019).

Usually, algorithms include various processes such as model evaluation, training, model fitting, and implementation and usually possess compound compositions which include a set of non-linear transformations. The NextGenHealth+ is a Bangalore based company and has marketing office across Asia.

1.1 Company’s Overview

The NextGenHealth+ will use the state of Art of AI offers the following 

  • the treatment plan to a medical practitioner, 
  • Future health prediction using genomics

Nature of Business: Healthcare 

Address: Kirloskar Business Park, Bhupendra Rd, Bangalore, Karnataka 560024, India

Name and Address of Principal: Sushil Vij, #72, Officers Colony, Karnal, Haryana, India

Investor: Vector Capital 80 %, 15 % Founder 2%, promoter and 3% employees (Cavusgil, 2004).

1.2 The objective of NextGenHealth+

Deep learning, AI, Machine learning are making their presence in healthcare like a storm. These technologies are no longer limited. By using NextGenHealth+, healthcare companies or hospitals can enhance their service plan, enhance their standard of care, reduce the risk, increase precision and accuracy and generate extra revenue. It also helps the computers to classify impressions inside genetic result sets. It then helps computer models to give foresight of patients chances of acquiring an illness or reacting on intrusions. 




1.3Statement of Financing needed

Table 1 Finance required

Area of Expenditure
Finance Required in SGD
Product Design Cost
720,000.00
Product Development Cost
400,000.00
Rental
240,000.00
Operational Cost
70,000
Office Equipment
25,000
Marketing
20,000
Working Capital
45,000
Overhead
90,000
Contingency
40,000
Total Finance Required
1,650,000

Source: Created by Researcher, 2019

2. Industry Analysis

2.1Future outlook and Trends

Accenture reports states that the largest future value for healthcare businesses survives in the following applications and all these applications will run by the end of 2026:

  • Robot-Assisted Surgery
  • Virtual Nursing Assistants
  • Dosage Error Reduction
  • Administrative Workflow Assistance
  • Automated Image Diagnosis
  • Clinical Trial Participant Identifier
  • Connected Machines
  • Preliminary Diagnosis

In 2016 SGD 6.89 bn were invested in the healthcare industry for applications like virtual nursing assistants and robot-assisted surgery and expected to invest in above-mentioned application SGD 206bn by 2026 (Arsene, 2018). AI helps in identifying patterns in X-rays and helps to detect tuberculosis. This technology can be very helpful in India to TB prevailing areas which do not have the radiologist. AI helps veterans in post-traumatic stress disorder. It will also help in an emergency to handle stroke and patients with head trauma very efficiently by analyzing intracranial bleeding. Cancer disease, Alzheimer’s disease can be detected easily by using technology like AI (Shaffer, 2018).

AI Applications that could change healthcare and their potential value by 2026

Figure 1: AI Applications that could change healthcare and their potential value by 2026

AI in the healthcare industry by region

Figure 2: AI in the healthcare industry by region



2.2Analysis of Competitors

S. No
Competitors Name
About the Product
1
Sigtuple
Sigtuple works on AI mechanism which helps to identify abnormalities in pharmaceutical results. It provides irregularities found in blood like anemia, malaria, leukemia.
2
ChironX
Chiron Eye, software product of ChironX supervises retinal fundus pictures within some seconds to identify hypertensive retinopathy, diabetic retinopathy, including additional retinal diseases.
3
Niramai Health Analytics
Niramai adopts exclusive sensing devices including Machine Learning technology to examine breast cancer and thermal images.
4
Qure.ai
Qure.ai uses deep learning technology to examine images, for example, CT scan, pathology and radiology images. It also accesses a brain tumor amount and intestinal fat (Davari & Strutton, 2014).
5
Credible Health
It helps radiologists to anticipate images to identify the illness and provide a cure for lung and liver cancers with the help of technology like cloud computing.
6
Tricog
It has developed a cloud-connected ECG machine which can detect heart attacks and provide the diagnosis which is affordable for patients (Fraser, et al., 2015).

Table 2: Innovative AI companies in India targeting the healthcare market (Hempel, 2018)

Competitors of NextGenHealth+

Figure 3: Competitors of NextGenHealth+

2.3 Market Segmentation

NextGenHealth+ targets Public medical institutions, Public and Private hospitals, and General and specialty Clinics in Bangalore, Mumbai, Delhi, Kolkata, Jaipur, Chennai in India. It targets public medical institutions as medical students need to do practice and once, they use this software in their medical practice they can use it on patients and can recommend others and encourages other doctors to use it as this software decreases risk and very accurate and efficient and it also saves time. The quality of service in public hospitals is regulated by the government. Ministry of Hospital in India also encourages hospitals and doctors to adopt AI and machine learning technology (Ehrhardt, & Brigham, 2016).

2.4 Industry and Market Forecast

For India, whose population is over1.3 Billion and there is a serious deficiency of doctors. Around 50,000 doctors in India are produced every year which is not close to minimum standards. WHO suggested that a doctor-patient ratio of 1:1000 is required hence by 2030 India will require 2.3M doctors. Henceforth AI is not just innovation, but it is demonstrated as beneficial for the people. Discussion paper distributed by the Indian government puts healthcare as the most important area in which AI is required. This Technology deducts the obstacles to reach and time (Tahir & Azhar, 2013).

In the market, AI is not going to replace doctors instead it can deliver the human-like approach. It acts as an intermediary to overcome the demand-supply gap between doctors and patients. In India AI in the healthcare market is potentially occurring. In the Indian healthcare market, AI can help to add SGD 967 billion to their economy by 2035. In India AI is capable of competent of resolving many healthcare difficulties (Adamkasi, 2019).


3. Description of Venture

3.1 Product

Table 3 Heartbeat monitor

 Heartbeat monitor

NextGenHealth plus offers two products 1) Treatment Planner 2) Heartbeat monitor. These both services help to make the process of treatment easier

3.2 Services 

 There are two services offered by NextGenHealth plus are Health monitoring and digital consultation. These AI-based products help in the advancement of healthcare. Size of a business depends on the needs. Although the AI machines take the places of medical workers at the same time more human skills are required to manage these services and products (Burtonshaw-Gunn, 2017).

3.3 Size of the business

The size of the NextGenHealth plus business would be based on the number of the employees, process cycle and initial investment made. However, in NextGenHealth plus, there would be 12 IT staffs apart from the nurses, doctors and general staff members. These IT staff will be 24*7 hours available for any discrepancies in the technical software and system. In addition to this SDG 3, 00,000 initial investment would be required to set up strong network in NextGenHealth plus for its operational work.  To manage these AI-based products sensors are required and personnel is required who has knowledge of software, hardware, sensors, and artificial intelligence (Cross, et al., 2015).

3.4 Office equipment and personnel

It would require setting up advance system and computers to classify impressions inside genetic result sets. In addition to this, laboratory stains and tape; reusable items would also be required. , there would be 12 IT staffs apart from the nurses, doctors and general staff members. They will take care of the system generated programs and machine handling process (Marr, 2018)

3.6 Background of entrepreneur(s)

All the entrepreneurs indulged in incorporating the NextGenHealth+ Art of the treatment plan to a medical practitioner and Future health prediction using genomics are from the medical field. Most of the relatives of the entrepreneur are doctors and scientist. Therefore, in order to bring innovation and creative process in economy, these entrepreneurs are indulged in bringing new technologies and system in the hospital care program (Sawhney, et al., 2017).

4. Marketing plan

Marketing plans of NextGenHealth+ requires consistent modifications, subtractions or additions and these depend on business circumstances and goals. The marketing plan includes target marketing, marketing budgets, strategies, and tactics. In the marketing plan, pricing distribution is required for promotors, promotion medium, and distribution channels. (Davari & Strutton, 2014).

4.1 Pricing

The NextGenHealth+ use data-driven analytics, advisory services such as AI which helps the medical professional to diagnose and treat the patient disease better. However, this newly developed software system will lower down the healthcare documentation works and eventually result to lower cost of health care service. The pricing of the newly offered The NextGenHealth+ product will be as low as it could be. This will be offered to healthcare organization at lowest price with a view to develop cost leadership in market (McPhail, 2012).

4.2 Distribution

Distribution channels in marketing of NextGenHealth+ are a promotion, product, placement, and price. Resellers, wholesalers, retailers, agents, and consultants have relationships and resources to promote and quickly bring the services to the market. The social media and online sales through the dashboard would be best option ( Lumenlearning, 2015)

Table 4 Distribution channels

Distribution channels


4.3 People

In a marketing plan of the NextGenHealth+, people involved are stakeholders, higher authorities, marketing team. However, health care organizations and some of the mediator agents would be the people for the offered NextGenHealth+ IT service (Vernon, 1979).

4.4 Process 

 Processes of offered IT program named NextGenHealth+ consistent branding, evaluation of the patient experience, creation of a dynamic and responsive website, use of PPC and display ads and other marketing methods such as banners, pamphlets, ads, etc. The treatment planner is responsible to cure cancer patients with the help of AI technology (McMeeking, et al., 2018).

4.5 Physical Evidences

 It will be really helpful in future also as there are a huge number of cancer patients but there are fewer doctors to treat them. Similarly, the heartbeat monitor is paired with AI to detect the patterns of a heartbeat. This data can also be incorporated with other factors such as time, location and exercise. This will give more holistic insight (Root, 1998)

4.6 Future Product forecasts

With the ramified changes in the technologies, there would be following product forecasts in the health care organization such as Robot-Assisted Surgery, Virtual Nursing Assistants, Dosage Error Reduction, Administrative Workflow Assistance, Automated Image Diagnosis, Clinical Trial Participant Identifier, and Connected Machines. Therefore, with the inclination of the health care organization towards the AI, many new technologies and systems process are promoted. AI helps in identifying patterns in X-rays and helps to detect tuberculosis. Radiologist. AI helps veterans in post-traumatic stress disorder. It will also help in an emergency to handle stroke and patients with head trauma very efficiently by analysing intracranial bleeding. Cancer disease, Alzheimer’s disease can be detected easily by using technology like AI (Shaffer, 2018).

4.7 Controls

In order to control the variation in the planned budget of the NextGenHealth+, internal control system will be set. The over use of the new technologies and system virus would be protected through the anti-virus service program. Nonetheless, time, location and exercise will be managed to control the unwanted variables in the newly developed NextGenHealth+ (Pascal, 2018).



  1. Operational plan

5.1 Description of the company’s operation:

Operation management mainly aimed to monitor and manage the processes and the distribution of the services and products. This includes purchase management, inventory monitoring, and creation of the product and development of the service. Operation management is necessary for the effective functionality and rapid provision of health services (Tran, 2017).

  • Maintain medical records
  • Provide treatment solutions to patients
  • Maintain customer relationship
  • Product and services management 
  • Perform lab testing etc.

5.2 Flow of orders for goods and/or services

These services and products follow a particular chain or flow. Which includes registration, management, maintenance, the chain of custody, etc. These products manufactured by the manufacturer, then supplied by suppliers to the hospital, then the charge distributes the products to various departments, then it is used by the department for the patients. However, in case of the offered service directly from the NextGenHealth+. This newly system upgrade AI NextGenHealth+ will be supported by the IT staff members and will be helpful for the health care organization to move one step forward in the health care service (Bragg, 2013)

5.3 Technology utilization:

With the help of artificial intelligence, there are a number of operations that can be performed easily. Some of the operations are given below:

Improve the treatment solutions and medical records: Artificial intelligence help to improve the ability to interact with the patient’s medical history. AI can be used to collect, store and analyse the medical data of the patient. This will help the doctors to take effective decisions (TataMotors, 2018).

Automate the CRM process: AI helps in Customer Relationship management by understanding customer queries and provide appropriate solutions such as information sharing, appointment booking, etc. 

Track the stats of ICU patients: technology innovations allow the devices to give advanced analysis and predictions of data. This can be used in the hospital to track the date such as pulse rate, breathing pattern and blood pressure of the patient and send an alert to the doctors in case of emergency (Bouwens, 2017).

Improve hospital operations: Artificial intelligence allows the hospital to use predictive analysis that can help to improve the workflow of the hospital. This gives better customer treatment and services and provides rapid solutions for the problems. 

Perform repetitive jobs: artificial intelligence help to perform some repetitive jobs such as data entry, X-rays, analysis of tests, CT scans and other basic tasks. These tasks can be some rapidly and accurately with the help of technology such as AI and Robots.

Design of treatment: artificial intelligence can be used to analyse the data and medical history of the patient and help to provide an accurate and customized treatment solution.

Digital consultation: On the basis of the medical history of the patient and common medical knowledge apps can give medical consultation digitally. This saves a lot of time of both patient and doctor. User can feed the symptoms into the application software and the software recommend the action and medicines accordingly.

Creation of drug: the creation of drugs takes a lot of time, manpower and money. To make this process cheaper and faster Artificial Intelligence can be helpful. Software based on AI can be used to redesign the available medicine to fight the problem.

Health monitoring: Artificial Intelligence can be really helpful in this area of health care. There are a number of wearable trackers available in the market that uses artificial intelligence such as FitBit etc. These health monitors can be used to track pulse rate, heartbeat, blood pressure, and other activity levels. These devices are able to send alert and notification accordingly (Robinson & Burnett,, 2016).

Thus, there are many areas in health care that can be positively affected by the artificial intelligence, such as doctors will be able to attend the critical cases on priority, can handle the number of patients, and dispatch the ambulance and speed up the process of treatment.


6. Organizational plan 

6.1 Form of ownership 

The newly developed NextGenHealth+ AI services will be offered directly from the company. Therefore, the form of the ownership will be shareholding and share capital in the company. all the owners of the NextGenHealth+ AI will be equal partners by having the equal share captail in the newly incorporated company named NextGenHealth+ AI. This need to be organized structured to maintain the organizational process, responsibility, and accountability. The organizational structure of the hospital involves board, executives, departmental administrators, managers for patient care, service providers. A hospital’s board of directors involves experts in their fields. The organizational structure helps to understand the chain of the command in the organization. The executives are responsible for organization management, financial decision making and oversee the strategy. Department administrators are responsible to manage the regular activities and reporting to executives of the hospital. Patient care managers include nurse and supervisors’ physicians. They follow the orders and ensure the fulfilment of their duties. Service providers include a vast range of employees (Savytska, 2018).

Table 5 Boards


6.2 Identification of partners or principal shareholders:

Stakeholders are of three types that are internal, external and interface. There is mainly the following stakeholder in the health care industry:

  • Government
  • Public
  • Health care providers
  • Hospital administrators
  • Suppliers
  • Patients
  • Owner of the hospital 
  • Higher authorities
  • Workers 

Table 6 major stakeholders

major stakeholders

6.3 Management-team background

The management team should be responsible for the proper communication between high authorities to the lower authorities and vice versa. The team should maintain all the records of various products, processes, and personnel. All the management team members of the NextGenHealth+ AI will be IT marketing graduates. In addition to this, some of the qualified knowledgeable doctors will also be hired in the board members who will help in improving the exiting NextGenHealth+ AI in effective manner (Adamkasi, 2019).

6.4 Roles and responsibilities of members of the organization:

Duties of boards:

  • Governance
  • Selection and appointment to departmental executives
  • Ensure the availability of fund
  • Design and approve the financial budget
  • Strategic planning

Doctors and nurses:

  • Oversee the patients
  • Supervise
  • Treatment of patient
  • Take care of the patient

Management team:

  • Manage human resources
  • Accounting
  • Security
  • administration

Other hospital staff:

  • Housekeeping
  • Bring drinks and meals
  • Help in the transportation of the patient

7. Financial Plan

7.1 Assumptions

All the data of revenue has been computed on the quarterly basis. The below given sheet depicts the first quarter assumption which NextGenHealth+ would have (Adamkasi, 2019).

Segmentation of the total revenue received from sale of food and beverage items 
Amount in  (SGD )
Patient care treatment service
SDG 2,500.00
supervises retinal fundus pictures 
SDG 2,000.00
Examine Preliminary Diagnosis services
SDG 1,500.00
CT scan and other ancillary services
SDG 2,000.00
Total revenue
SDG 8,000.00


Three main assumptions have been made to prepare the financial statement of NextGenHealth+

Assumption- There will be low earning for the first year. 
Assumption-2nd The cost of process sold would be 60% each year)
 
 
Assumption-3-  The NextGenHealth+ will have 1.52% inflation rate each year
 
 


7.2 Pro forma income statement

Income statement ofNextGenHealth+
Particular
Year-1
Year-2
Year-3

Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
Total revenue 
SDG 8,000.00
SDG 9,600.00
SDG 10,560.00
SDG 11,616.00
SDG 12,777.60
SDG 14,055.36
SDG 15,460.90
SDG 17,006.99
SDG 18,707.68
SDG 20,578.45
SDG 22,636.30
SDG 24,899.93
Cost of services
SDG 3,200.00
SDG 3,840.00
SDG 4,224.00
SDG 4,646.40
SDG 5,111.04
SDG 5,622.14
SDG 6,184.36
SDG 6,802.79
SDG 7,483.07
SDG 8,231.38
SDG 9,054.52
SDG 9,959.97
Gross margin
SDG 4,800.00
SDG 5,760.00
SDG 6,336.00
SDG 6,969.60
SDG 7,666.56
SDG 8,433.22
SDG 9,276.54
SDG 10,204.19
SDG 11,224.61
SDG 12,347.07
SDG 13,581.78
SDG 14,939.96
Operating expenses (includes Loyalty and other charges to government)
 
 
 
 
 
 






Municipalities expenses
SDG 100.00
SDG 110.00
SDG 121.00
SDG 133.10
SDG 146.41
SDG 161.05
SDG 177.16
SDG 194.87
SDG 214.36
SDG 235.79
SDG 259.37
SDG 285.31
Yearly Utility cost
SDG 150.00
SDG 165.00
SDG 181.50
SDG 199.65
SDG 219.62
SDG 241.58
SDG 265.73
SDG 292.31
SDG 321.54
SDG 353.69
SDG 389.06
SDG 427.97
Salary to staff members and employees
SDG 250.00
SDG 275.00
SDG 302.50
SDG 332.75
SDG 366.03
SDG 402.63
SDG 442.89
SDG 487.18
SDG 535.90
SDG 589.49
SDG 648.44
SDG 713.28
Licensing fees
SDG 100.00
SDG 110.00
SDG 121.00
SDG 133.10
SDG 146.41
SDG 161.05
SDG 177.16
SDG 194.87
SDG 214.36
SDG 235.79
SDG 259.37
SDG 285.31
Computer handling cost
SDG 145.00
SDG 159.50
SDG 175.45
SDG 193.00
SDG 212.29
SDG 233.52
SDG 256.88
SDG 282.56
SDG 310.82
SDG 341.90
SDG 376.09
SDG 413.70
Total operating expenses
SDG 745.00
SDG 819.50
SDG 901.45
SDG 991.60
SDG 1,090.75
SDG 1,199.83
SDG 1,319.81
SDG 1,451.79
SDG 1,596.97
SDG 1,756.67
SDG 1,932.34
SDG 2,125.57
EBIT
SDG 4,055.00
SDG 4,940.50
SDG 5,434.55
SDG 5,978.01
SDG 6,575.81
SDG 7,233.39
SDG 7,956.72
SDG 8,752.40
SDG 9,627.64
SDG 10,590.40
SDG 11,649.44
SDG 12,814.38
Depreciation expenses
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
Profit before interest and tax
SDG 3,638.33
SDG 4,523.83
SDG 5,017.88
SDG 5,561.34
SDG 6,159.14
SDG 6,816.72
SDG 7,540.06
SDG 8,335.73
SDG 9,210.97
SDG 10,173.73
SDG 11,232.77
SDG 12,397.72
Interest and other financial Income
SDG 750.00
SDG 761.36
SDG 772.94
SDG 784.68
SDG 796.61
SDG 808.72
SDG 821.01
SDG 833.49
SDG 846.16
SDG 859.02
SDG 872.08
SDG 885.33
Income before tax
SDG 2,888.33
SDG 3,762.47
SDG 4,244.95
SDG 4,776.65
SDG 5,362.53
SDG 6,008.00
SDG 6,719.05
SDG 7,502.24
SDG 8,364.81
SDG 9,314.71
SDG 10,360.69
SDG 11,512.38
Taxation
SDG 779.85
SDG 1,015.87
SDG 1,146.14
SDG 1,289.70
SDG 1,447.88
SDG 1,622.16
SDG 1,814.14
SDG 2,025.60
SDG 2,258.50
SDG 2,514.97
SDG 2,797.39
SDG 3,108.34
Net income for the year
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
SDG 6,066.35
SDG 6,810.41
SDG 7,630.16
SDG 8,533.19
SDG 9,527.84
SDG 10,623.31
SDG 11,829.68
SDG 13,158.08
SDG 14,620.73


7.3 Cash flow projections

Cash Flow Statement
Cash flows from Operations
All amount is shown in Million 
Year-1
Year-2
Year-3
Cash receipts from customers
 
Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
 
Cash Sales
SDG 8,000.00
SDG 9,600.00
SDG 10,560.00
SDG 11,616.00
SDG 12,777.60
SDG 14,055.36
 $      15,460.90 
 $            17,006.99 
 $      18,707.68 
 $      20,578.45 
 $      22,636.30 
 $            24,899.93 
 
Cash collected from customers (debtors)
SDG 8,000.00
SDG 9,600.00
SDG 10,560.00
SDG 11,616.00
SDG 12,777.60
SDG 14,055.36
 $      15,460.90 
 $            17,006.99 
 $      18,707.68 
 $      20,578.45 
 $      22,636.30 
 $            24,899.93 
Funding from Creditors
 
 
 
 
 
 
 






 
Stock purchased, not yet paid
SDG 3,200.00
SDG 3,840.00
SDG 4,224.00
SDG 4,646.40
SDG 5,111.04
SDG 5,622.14
 $        6,184.36 
 $              6,802.79 
 $        7,483.07 
 $        8,231.38 
 $        9,054.52 
 $              9,959.97 
Cash paid for
 
 
 
 
 
 
 






(enter negative amounts)
Total Expenses
SDG 745.00
SDG 819.50
SDG 901.45
SDG 991.60
SDG 1,090.75
SDG 1,199.83
 $        1,319.81 
 $              1,451.79 
 $        1,596.97 
 $        1,756.67 
 $        1,932.34 
 $              2,125.57 
 
Inventory (stock)purchases
 
 
 
 
 
 






Funding to Debtors
 
 
 
 
 
 
 






 
Sales made not yet collected
SDG 0.00
SDG 1.00
SDG 2.00
SDG 3.00
SDG 4.00
SDG 5.00
SDG 6.00
SDG 7.00
SDG 8.00
SDG 9.00
SDG 10.00
SDG 11.00
Net Cash Flow from Operations
 
SDG 4,055.00
SDG 4,940.50
SDG 5,434.55
SDG 5,978.01
SDG 6,575.81
SDG 7,233.39
SDG 7,956.72
SDG 8,752.40
SDG 9,627.64
SDG 10,590.40
SDG 11,649.44
SDG 12,814.38
Investing Activities
 
 
 
 
 
 
 






Cash receipts from
 
 
 
 
 
 
 






(enter positive amounts)
Sale of property and equipment
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Matured Investments
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
Cash paid for
Product Design Cost
SDG 720,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Product Development Cost
SDG 400,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Rental
SDG 240,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Operational Cost
SDG 70,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Office Equipment
SDG 25,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Marketing
SDG 20,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Working Capital
SDG 45,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Overhead
SDG 90,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Contingency
SDG 40,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
Net Cash Flow from Investing Activities
 
SDG 1,650,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00






Financing Activities
 
 
SDG 0.00
SDG 0.00
 
 
 
 
 
 
 
 
 
Cash receipts from
 
 
SDG 0.00
SDG 0.00
 
 
 
 
 
 
 
 
 
(enter positive amounts)
Issue of share
SDG 200,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Funds raised from banks
SDG 50,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
Cash paid for
 
 
 
 
 
 
 
 
 
 
 
 
 
(enter negative amounts)
Repayment of loans
SDG 0.00
SDG 1,500,000.00
SDG 150,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
 
Dividends
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
Net Cash Flow from Financing Activities
 
SDG 250,000.00
SDG 1,500,000.00
SDG 150,000.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
SDG 0.00
Change in cash
 
SDG 1,904,055.00
SDG 1,504,940.50
SDG 155,434.55
SDG 5,978.01
SDG 6,575.81
SDG 7,233.39
SDG 7,956.72
SDG 8,752.40
SDG 9,627.64
SDG 10,590.40
SDG 11,649.44
SDG 12,814.38
Opening balance
 
SDG 0.00
SDG 1,904,055.00
SDG 3,408,995.50
SDG 3,564,430.05
SDG 3,570,408.06
SDG 3,576,983.86
SDG 3,584,217.25
SDG 3,592,173.97
SDG 3,600,926.37
SDG 3,610,554.01
SDG 3,621,144.41
SDG 3,632,793.85
 
Cash at End of the year
SDG 1,904,055.00
SDG 3,408,995.50
SDG 3,564,430.05
SDG 3,570,408.06
SDG 3,576,983.86
SDG 3,584,217.25
SDG 3,592,173.97
SDG 3,600,926.37
SDG 3,610,554.01
SDG 3,621,144.41
SDG 3,632,793.85
SDG 3,645,608.23

 7.4 Pro forma balance sheet

Balance sheet of Global NextGenHealth+
Years
2019
2020
2021
2022
 Assets
 
 
 
 
Cash on hand
SDG 39,776.00
SDG 44,553.60
SDG 49,008.96
SDG 53,909.86
Other Current Assets
SDG 15,000.00
SDG 15,000.00
SDG 15,000.00
SDG 15,000.00
Total Current Assets
SDG 54,776.00
SDG 59,553.60
SDG 64,008.96
SDG 68,909.86
Fixed Assets
 
 
 
 
Product Design Cost
SDG 720,000.00
SDG 720,000.00
SDG 720,000.00
SDG 720,000.00
Product Development Cost
SDG 400,000.00
SDG 400,000.00
SDG 400,000.00
SDG 400,000.00
Rental
SDG 240,000.00
SDG 240,000.00
SDG 240,000.00
SDG 240,000.00
Operational Cost
SDG 70,000.00
SDG 70,000.00
SDG 70,000.00
SDG 70,000.00
Office Equipment
SDG 25,000.00
SDG 25,000.00
SDG 25,000.00
SDG 25,000.00
Marketing
SDG 20,000.00
SDG 20,000.00
SDG 20,000.00
SDG 20,000.00
Working Capital
SDG 45,000.00
SDG 45,000.00
SDG 45,000.00
SDG 45,000.00
Overhead
SDG 90,000.00
SDG 90,000.00
SDG 90,000.00
SDG 90,000.00
Contingency
SDG 40,000.00
SDG 40,000.00
SDG 40,000.00
SDG 40,000.00
Total Fixed Assets
SDG 195,000.00
SDG 194,999.66
SDG 194,999.32
SDG 194,998.98
Total Assets
SDG 249,776.00
SDG 254,553.26
SDG 259,008.28
SDG 263,908.84
Liabilities
 
 
 
 
Current Liabilities
 
 
 
 
Creditors
SDG 0.00
SDG 15,000.00
SDG 24,000.00
SDG 25,000.00
Total Current Liabilities
SDG 0.00
SDG 15,000.00
SDG 24,000.00
 
Bank loan
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Other liabilities 
SDG 15,000.00
SDG 927,669.00
SDG 1,786,996.00
SDG 2,599,399.00
Equipment Finance
SDG 50,000.00
SDG 0.00
SDG 0.00
SDG 0.00
Total Long Term Liabilities
SDG 100,000.00
SDG 120,000.00
SDG 140,000.00
SDG 160,000.00
Total Liabilities
SDG 200,000.00
SDG 220,000.00
SDG 240,000.00
SDG 260,000.00
Shareholders’ Funds ( Equity)
 
 
 
 
Owners Funds 
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Equity capital 
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Retained Earnings
SDG 0.00
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
Current Year Profit
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
SDG 6,066.35
Total Shareholders’ Funds (Equity)
SDG 203,668.18
SDG 208,446.52
SDG 210,169.42
SDG 211,457.44

7.5 Break-even point

It is the point at which NextGenHealth+ would have no profit no loss in its business process. 

Table to make chart
Unit
Fixed cost
variable cost
total cost
Sales
500
SDG 150,000.00
SDG 250,000.00
SDG 74,359.68
SDG 185,899.20
1000
SDG 150,000.00
SDG 1,000,000.00
SDG 1,150,000.00
SDG 150,000.00
1500
SDG 150,000.00
SDG 2,250,000.00
SDG 2,400,000.00
SDG 225,000.00
2000
SDG 150,000.00
SDG 4,000,000.00
SDG 4,150,000.00
SDG 300,000.00
2500
SDG 150,000.00
SDG 6,250,000.00
SDG 6,400,000.00
SDG 375,000.00
3000
SDG 150,000.00
SDG 9,000,000.00
SDG 9,150,000.00
SDG 450,000.00
3500
SDG 150,000.00
SDG 12,250,000.00
SDG 12,400,000.00
SDG 525,000.00
4000
SDG 150,000.00
SDG 16,000,000.00
SDG 16,150,000.00
SDG 600,000.00
4500
SDG 150,000.00
SDG 20,250,000.00
SDG 20,400,000.00
SDG 675,000.00
5000
SDG 150,000.00
SDG 25,000,000.00
SDG 25,150,000.00
SDG 750,000.00
5500
SDG 150,000.00
SDG 30,250,000.00
SDG 30,400,000.00
SDG 825,000.00



The break-even point would be 1800 sales in market. 

The break-even point would be 1800 sales in market.

7.6 Sources and applications of funds 

Particular
Amount in Million ($)
Private funding 
SDG 100,000.00
Owners shares
SDG 100,000.00
Bank loan
SDG 100,000.00


The sources of the funds would be private funding, owners share capital contributed by each and every partner and bank loan raised from the banks and financial institutions. 

However, the application of the funds would be in the assets and operational activities. 

8 Assessment of risk

8.1 Evaluate weakness (es) of business 

To maintain the security and availability of the services of the hospital, it is necessary to identify the potential threats in the system. The risk assessment process covers potential threats, level of destruction, mitigation or constancy plan, number of occurrences, etc. Risk assessment steps include research about the failure and incidents that can cause harm. The next step is to identify who or what can be affected by the risk. This can be resources or personnel. The next step is to determine the level of the risk and likeliness of it. This is followed by the creation of the remedy or contingency plan. For this, a number of software can be used. Risk assessment assigns a value to the asset.

The weaknesses of the business can be security loopholes, poor communication, improper infrastructure, lack of resources and knowledge, etc.  Absence of data backup can also cause risk. There can be hardware and software malfunctioning that can cause harm.

8.2 New technologies 

New technologies can be helpful in the risk assessment process. Right data and information are required that can be maintained and managed by using technologies. Techniques can be helpful in analysis and reporting. Artificial intelligence can be used to predict the occurrence off risk so that proper countermeasures can be taken on time. Cloud computing can be used for the backup of the data so that it can be helpful at the time of recovery and ensure the high availability of the data. This is a cheap and flexible method. It also allows you to create secondary resources that can be used anytime and from anywhere. Thus, it is a scalable and reliable option.

8.3 Contingency plans:

Contingency plan act as an alternative plan for the emergency situation. It is analysed that NextGenHealth+ AI can be affected by many various operations that can affect its regular operations. This can be natural disasters or some human-generated errors. The management of the hospital should have the ability to recover and resume the services and resources in such situations. To handle the risk and minimize the impact on the services, it is necessary to have a strong contingency plan. It helps to reduce financial risk and protect the safety of resources. It also helps to maintain the peace of mind. Secondary resources should always be ready in case of any risk or disaster. There should be proper resources available for transferring the patients and provide alternative arrangements. There should be emergency medical storage and spare IT development team who is also well versed in the hospital equipment’s and supply to treat the patients in case of risk. Basic risk avoidance equipment such as fire extinguisher, emergency exits should be there. Backup of the data should be taken on timely bases to avoid data loss. The contingency plan and risk assessment plan helps the organization to avoid risk and ensure high availability of the services. The proper contingency plan help to keep the resources and manpower in a ready state for any disaster. This help to adopt alternative solutions to continue the operations (Cross, et al., 2015).

Template structure of the contingency plan for the hospital:

  • Background
  • Goals and objectives
  • Allocation of the resources
  • Management team
  • First aid arrangement
  • Emergency medical supply
  • Emergency Communication plan
  • Transportation
  • Alternative utilities

9.1 Appendix

1. Statement of confidentiality 

The Signatory proof-reader of ____________, NextGenHealth+ business plan thus accepts that data presented is entirely private and hence proof-reader accepts this agreement and will not reveal any information discovered within this business plan without some signed approval from NextGenHealth+ owner. The reader must accept that the information supplied in the business plan is totally private in nature.  

Applicable Law

The agreement is dictated through the laws of the County of India in the State of Karnataka including all relevant Federal law. 

In the event the patient-supplied equipment fails, the hospital staff will need to intervene and provide appropriate care to the patient, even if the patient assumed all responsibility for the equipment. The hospital staff also will need to regularly check to confirm that the equipment is functioning properly and that the medical equipment remains appropriate for the patient's condition. Of course, the hospital staff must document their regular assessment of the patient-supplied medical equipment.


________________________________
Name and Signature [undersigned Reader]


________________________________
Name and Signature of NextGenHealth+ Owner


Financial details 

Income statement ofNextGenHealth+
Particular
Year-1
Year-2
Year-3

Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
Jan- March
April- June
July-September
October- December 
Total revenue 
SDG 8,000.00
SDG 9,600.00
SDG 10,560.00
SDG 11,616.00
SDG 12,777.60
SDG 14,055.36
SDG 15,460.90
SDG 17,006.99
SDG 18,707.68
SDG 20,578.45
SDG 22,636.30
SDG 24,899.93
Cost of services
SDG 3,200.00
SDG 3,840.00
SDG 4,224.00
SDG 4,646.40
SDG 5,111.04
SDG 5,622.14
SDG 6,184.36
SDG 6,802.79
SDG 7,483.07
SDG 8,231.38
SDG 9,054.52
SDG 9,959.97
Gross margin
SDG 4,800.00
SDG 5,760.00
SDG 6,336.00
SDG 6,969.60
SDG 7,666.56
SDG 8,433.22
SDG 9,276.54
SDG 10,204.19
SDG 11,224.61
SDG 12,347.07
SDG 13,581.78
SDG 14,939.96
Operating expenses (includes Loyalty and other charges to government)
 
 
 
 
 
 






Municipalities expenses
SDG 100.00
SDG 110.00
SDG 121.00
SDG 133.10
SDG 146.41
SDG 161.05
SDG 177.16
SDG 194.87
SDG 214.36
SDG 235.79
SDG 259.37
SDG 285.31
Yearly Utility cost
SDG 150.00
SDG 165.00
SDG 181.50
SDG 199.65
SDG 219.62
SDG 241.58
SDG 265.73
SDG 292.31
SDG 321.54
SDG 353.69
SDG 389.06
SDG 427.97
Salary to staff members and employees
SDG 250.00
SDG 275.00
SDG 302.50
SDG 332.75
SDG 366.03
SDG 402.63
SDG 442.89
SDG 487.18
SDG 535.90
SDG 589.49
SDG 648.44
SDG 713.28
Licensing fees
SDG 100.00
SDG 110.00
SDG 121.00
SDG 133.10
SDG 146.41
SDG 161.05
SDG 177.16
SDG 194.87
SDG 214.36
SDG 235.79
SDG 259.37
SDG 285.31
Computer handling cost
SDG 145.00
SDG 159.50
SDG 175.45
SDG 193.00
SDG 212.29
SDG 233.52
SDG 256.88
SDG 282.56
SDG 310.82
SDG 341.90
SDG 376.09
SDG 413.70
Total operating expenses
SDG 745.00
SDG 819.50
SDG 901.45
SDG 991.60
SDG 1,090.75
SDG 1,199.83
SDG 1,319.81
SDG 1,451.79
SDG 1,596.97
SDG 1,756.67
SDG 1,932.34
SDG 2,125.57
EBIT
SDG 4,055.00
SDG 4,940.50
SDG 5,434.55
SDG 5,978.01
SDG 6,575.81
SDG 7,233.39
SDG 7,956.72
SDG 8,752.40
SDG 9,627.64
SDG 10,590.40
SDG 11,649.44
SDG 12,814.38
Depreciation expenses
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
SDG 416.67
Profit before interest and tax
SDG 3,638.33
SDG 4,523.83
SDG 5,017.88
SDG 5,561.34
SDG 6,159.14
SDG 6,816.72
SDG 7,540.06
SDG 8,335.73
SDG 9,210.97
SDG 10,173.73
SDG 11,232.77
SDG 12,397.72
Interest and other financial Income
SDG 750.00
SDG 761.36
SDG 772.94
SDG 784.68
SDG 796.61
SDG 808.72
SDG 821.01
SDG 833.49
SDG 846.16
SDG 859.02
SDG 872.08
SDG 885.33
Income before tax
SDG 2,888.33
SDG 3,762.47
SDG 4,244.95
SDG 4,776.65
SDG 5,362.53
SDG 6,008.00
SDG 6,719.05
SDG 7,502.24
SDG 8,364.81
SDG 9,314.71
SDG 10,360.69
SDG 11,512.38
Taxation
SDG 779.85
SDG 1,015.87
SDG 1,146.14
SDG 1,289.70
SDG 1,447.88
SDG 1,622.16
SDG 1,814.14
SDG 2,025.60
SDG 2,258.50
SDG 2,514.97
SDG 2,797.39
SDG 3,108.34
Net income for the year
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
SDG 6,066.35
SDG 6,810.41
SDG 7,630.16
SDG 8,533.19
SDG 9,527.84
SDG 10,623.31
SDG 11,829.68
SDG 13,158.08
SDG 14,620.73


Years
2019
2020
2021
2022
 Assets
 
 
 
 
Cash on hand
SDG 39,776.00
SDG 44,553.60
SDG 49,008.96
SDG 53,909.86
Other Current Assets
SDG 15,000.00
SDG 15,000.00
SDG 15,000.00
SDG 15,000.00
Total Current Assets
SDG 54,776.00
SDG 59,553.60
SDG 64,008.96
SDG 68,909.86
Fixed Assets
 
 
 
 
Product Design Cost
SDG 720,000.00
SDG 720,000.00
SDG 720,000.00
SDG 720,000.00
Product Development Cost
SDG 400,000.00
SDG 400,000.00
SDG 400,000.00
SDG 400,000.00
Rental
SDG 240,000.00
SDG 240,000.00
SDG 240,000.00
SDG 240,000.00
Operational Cost
SDG 70,000.00
SDG 70,000.00
SDG 70,000.00
SDG 70,000.00
Office Equipment
SDG 25,000.00
SDG 25,000.00
SDG 25,000.00
SDG 25,000.00
Marketing
SDG 20,000.00
SDG 20,000.00
SDG 20,000.00
SDG 20,000.00
Working Capital
SDG 45,000.00
SDG 45,000.00
SDG 45,000.00
SDG 45,000.00
Overhead
SDG 90,000.00
SDG 90,000.00
SDG 90,000.00
SDG 90,000.00
Contingency
SDG 40,000.00
SDG 40,000.00
SDG 40,000.00
SDG 40,000.00
Total Fixed Assets
SDG 195,000.00
SDG 194,999.66
SDG 194,999.32
SDG 194,998.98
Total Assets
SDG 249,776.00
SDG 254,553.26
SDG 259,008.28
SDG 263,908.84
Liabilities
 
 
 
 
Current Liabilities
 
 
 
 
Creditors
SDG 0.00
SDG 15,000.00
SDG 24,000.00
SDG 25,000.00
Total Current Liabilities
SDG 0.00
SDG 15,000.00
SDG 24,000.00
 
Bank loan
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Other liabilities 
SDG 15,000.00
SDG 927,669.00
SDG 1,786,996.00
SDG 2,599,399.00
Equipment Finance
SDG 50,000.00
SDG 0.00
SDG 0.00
SDG 0.00
Total Long Term Liabilities
SDG 100,000.00
SDG 120,000.00
SDG 140,000.00
SDG 160,000.00
Total Liabilities
SDG 200,000.00
SDG 220,000.00
SDG 240,000.00
SDG 260,000.00
Shareholders’ Funds ( Equity)
 
 
 
 
Owners Funds 
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Equity capital 
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
SDG 100,000.00
Retained Earnings
SDG 0.00
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
Current Year Profit
SDG 3,668.18
SDG 4,778.34
SDG 5,391.08
SDG 6,066.35
Total Shareholders’ Funds (Equity)
SDG 203,668.18
SDG 208,446.52
SDG 210,169.42
SDG 211,457.44


Customer Testimonials