Leadership and Management Skills to Enhance Your Professional Role-How to Write a Business Plan for the ICU

Video Transcription

Video Summary

In this video, Derek Wheeler discusses how to write a business plan for the intensive care unit (ICU). He highlights the importance of a business plan in justifying hospital investments and demonstrates the similarities between a business plan and a research grant proposal. Wheeler emphasizes the need for hospital administration to see a return on their investment, especially since hospitals are facing financial challenges due to increasing expenses. He suggests that a business plan should not only demonstrate the financial viability of the proposed program but also serve as a roadmap for success. He breaks down the key elements of a business plan, including the executive summary, description of the business, market analysis, marketing, sales, operations, management and key personnel, finance, milestones, and risks. Wheeler advises seeking assistance from financially savvy individuals when writing the finance section and recommends utilizing resources and courses available for learning how to write an effective business plan.

Keywords

business plan

intensive care unit

hospital investments

financial viability

market analysis

key personnel

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