Continuing Education and Business

Business Plan for a Health Clinic in Mayfield, Kentucky Business Idea and Location Mayfield Nursing Home is an upcoming health clinic that will be established in Mayfield, Kentucky, U.S.A. Mayfield is one of the vibrant cities in Kentucky, with a considerable population. The clinic will provide a variety of health care services for children and adults, including primary care, physical examinations, drug screening, as well as diagnosis and treatment. The clinic will be robustly committed to providing quality, safe, effective, timely, patient-centered, and affordable care.

This is informed by the need to build, maintain, and enhance patient satisfaction, which will be our top priority. Commitment to patient satisfaction will be crucial for attracting and retaining customers. Services will be offered 7 days a week for 12 hours a day (8 am to 8 pm). The clinic will specifically be located along 100 South 6th Street in Mayfield. This location offers convenient access, ample parking, as well as plenty of room for expansion. Business Structure The clinic will be incorporated as a limited liability corporation (LLC) in the state of Kentucky.

Compared to other structures, a LLC offers important benefits in terms of taxation, liability protection, as well as control (Finch, 2013). Clinical Site Expenses A 1,500 square feet office space will be leased in Mayfield to house the clinic. Assuming a price of $1.25 per square foot and an additional real estate tax of $0.15 per square foot per month, the total monthly expense for leasing site will be $2,100. This will total to $25,200 annually. Employee Structure and Expenses The clinic plans to deliver services 84 hours a week, with an average of 2 patients per hour.

This will require a workforce of 7 people (the owner, 2 nurse practitioners [NPs], 2 licensed practical nurses, and 2 clerical staff members). The owner will work 35 hours per week, while the two part-time NPs will work 25 hours a week for $40 per hour. Practical nurses will work 40 hours a week for $15 per hour. Clerical members of staff will work 40 hours a week for $15 per hour. Based on this, monthly personnel costs will be $12,800. Annually, personnel costs will total to $153,600. The owner will serve as the managing director.

Though, he will be responsible for overseeing the day-to-day operations of the clinic, he will also participate in delivering patient services. The NPs will be responsible for providing patient services, while the practical nurses will support the NPs in providing the services. Clerical members of staff will be responsible for patient reception, front office management, coding, and billing. Supplies A great deal of supplies will be required to set up the clinic.

These include: electronic medical records (including acquisition and training); office equipment and supplies (for example, computers, phones, copy machine, fax, front office stationery and magazines); office furniture (for example, front and back office chairs and desks, waiting room chairs and desks, cabinets, and book shelves); and examination furniture and equipment (for example, examination tables, light sources, blood pressure cuff, otoscope, electronic thermometer, glucometer, microscope, anoscope, pulse oximeter, nebulizer, hemoque, adult scale, and baby scale.

Other supplies that will be required include hand sanitizers, lubricant, glucose strips, speculums, alcohol wipes, lancets, wheelchair, microwave, refrigerator, and freezer. Supplies relating to advertisement will also be required. These will mainly include brochures, business cards, and website. Overall, supplies will cost an estimated $50,000. Utilities and Overhead Expenses Operating a nursing clinic involves considerable utility and overhead costs. The major utilities in this case include electricity, water, telephone, and television subscription. Major overhead expenses will include travel and entertainment expenses.

Utilities and overhead expenses will cost an estimated $5,000 per month, or $60,000 annually. Malpractice Insurance Insurance is crucial for ensuring business continuity in the event of unexpected situations (Graham & Kaye, 2015).

The clinic will obtain three covers: • Property insurance: for protecting the clinic against the damage or loss of property such as supplies, equipment, and furniture • Malpractice insurance: for covering the clinic against claims of malpractice by patients • Worker compensation insurance: for covering employees against work-related injuries, illnesses, and deaths as required by the law Continuing Education Expenses The significance of continuing education in the nursing profession cannot be overemphasized.

Nurses must continuously update their skills and knowledge so as to remain relevant in a constantly changing health care environment (Andre.