appropriate business structure

The Single Proprietorship

The single proprietorship is the best company structure for the planned venture. The structure will give the owner better control over the day-to-day operations. Furthermore, the facility is limited in both capacity and size. The health center will be built near my home estate to serve the residents of the community. Based on past and recent assessments, I have estimated monthly costs for the first six months. The clinical location will spend around 20,000 dollars to make the necessary changes to the facility. The site’s structural design will be altered to reflect and contain a health facility. The proprietor looks forward to recruiting three individuals who have qualifications and registration in the clinical practice to assist in the discharge of the daily functions. Based on the current rates, each of the employees will receive a monthly salary of 10,000 dollars. The three employees will report directly to the proprietor. Huge sums of money will be utilized to obtain the necessary supplies to make the facility operational and address to the needs of the patients (Sachdev, 2014). The proprietor has set aside 400,000 dollars for supplies that includes medicines, basic health equipments and support services. The finances for utilities and overhead expenses such as electricity and water have been set at 30,000 dollars a month (Buppert, 2015).

Insurance and Education

To ensure better coverage and realization of positive outcomes, the proprietor has insured all the necessary equipments and resources within the facility (American Association of Nurse Practitioners, 2016). The monthly insurance fee is estimated at 40,000 dollars. It is also notable that the proprietor has set aside finances for continued education and capacity building for the workforce. Accounting and education fees are estimated at 8,000 dollars.

Services and Future Growth

The main services to be offered at the clinic include newborn care, immunizations, diagnosis and treatment of diseases. The facility will only take care of the outpatient services due to capacity and the regulatory requirements. The projected monthly income stands at about 100,000 dollars. With time, the facility will be in a position to earn higher income besides growing and expanding to other areas (Sachdev, 2014), (Mohammed, North, & Ashton, 2016).

References

American Association of Nurse Practitioners (2016). State Practice Environment. Retrieved from https://www.aanp.org/legislation-regulation/state-legislation/state-practice-environment

Buppert, C. (2015). Appendix 11-A: A Checklist for Setting Up a Practice. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). Burlington, MA: Jones & Bartlett, 384-397.

Buppert, C. (2015). Appendix 11-C: Sample NP Business Plan. In Nurse Practitioner’s Business Practice and Legal Guide (5th ed.). Burlington, MA: Jones & Bartlett, 402-416.

Mohammed, J., North, N., & Ashton, T. (2016). Decentralisation of health services in Fiji: a decision space analysis. International journal of health policy and management, 5(3), 173.

Sachdev, G. (2014). Sustainable business models: Systematic approach toward successful ambulatory care pharmacy practice. American Journal of Health-System Pharmacy, 71(16).