Feasibility Analysis
Saede Salem
Blanc (9/18/11, 4:30 P.M.)
Business A240
Feasibility Analysis
My goal (potentially and hopefully) as a physician, is to start my own business by opening up my own neurology practice. The purpose of the following Feasibility Study is to act as a preliminary evaluation to see whether, as a board-certified neurologist, opening up my own practice would be a potentially viable business idea.
The Business Idea * As a neurologist owning my own practice, business revenue would primarily be driven by: patient office visits, special procedures, and hospital visits to patients who must be hospitalized. * Any subsidiary revenue would most likely be generated by ancillary staff. (I.E. occupational therapists, speech therapists, etc.)
The Product/Service * Neurology is a highly specialized branch of medicine, with very few specialists per capita to compete with. This makes my profession itself the most unique, and beneficiary, feature to my customers. * Insurance capitation, as well as the shrinking of local and federal government resources; would probably be my biggest limitations. * My competitive advantage again, comes from neurology itself being a highly specialized and highly necessary service to medicine. * Taking into consideration that neurology and psychiatry are often considered the “last frontiers” within medicine, my product is on the cutting edge in terms of its development. * Medicine in general is highly regulated industry so many legal restrictions would apply. * Liability insurance, and especially mal-practice insurance, would be essential to my business. * Neurology is a continuously expanding profession and this trend will most likely continue upward for some time. * Neurological disorders tend to affect the elderly most frequently. So taking this into consideration (along with the retirement of the baby-boomer generation) the demographics of my customers will most likely consist
Blanc (9/18/11, 4:30 P.M.)
Business A240
Feasibility Analysis
My goal (potentially and hopefully) as a physician, is to start my own business by opening up my own neurology practice. The purpose of the following Feasibility Study is to act as a preliminary evaluation to see whether, as a board-certified neurologist, opening up my own practice would be a potentially viable business idea.
The Business Idea * As a neurologist owning my own practice, business revenue would primarily be driven by: patient office visits, special procedures, and hospital visits to patients who must be hospitalized. * Any subsidiary revenue would most likely be generated by ancillary staff. (I.E. occupational therapists, speech therapists, etc.)
The Product/Service * Neurology is a highly specialized branch of medicine, with very few specialists per capita to compete with. This makes my profession itself the most unique, and beneficiary, feature to my customers. * Insurance capitation, as well as the shrinking of local and federal government resources; would probably be my biggest limitations. * My competitive advantage again, comes from neurology itself being a highly specialized and highly necessary service to medicine. * Taking into consideration that neurology and psychiatry are often considered the “last frontiers” within medicine, my product is on the cutting edge in terms of its development. * Medicine in general is highly regulated industry so many legal restrictions would apply. * Liability insurance, and especially mal-practice insurance, would be essential to my business. * Neurology is a continuously expanding profession and this trend will most likely continue upward for some time. * Neurological disorders tend to affect the elderly most frequently. So taking this into consideration (along with the retirement of the baby-boomer generation) the demographics of my customers will most likely consist