Unit VII

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Columbia Southern University *

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5301

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Health Science

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Apr 3, 2024

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1 Unit VII: Business Plan Becky Miller Columbia Southern University HCA- 5301: Health Care Financial Management Dr. Alicia Chatman December 27, 2022

2 Unit VII: Business Plan Executive Summary: Breathing Right Now, is a respiratory facility that can assist in providing and delivery of respiratory medical equipment for home use in the area of Raceland, Louisiana. The company will ensue that we adhere to all of Louisiana’s legal requirements and health regulations while performing duties, while maintaining our mission and vision statements. Our mission here at Breathing Right Now, is to provide our customers with compassionate care, quality equipment, and exceptional customer service. Leading to our vision of being the most respected local provider of home medical equipment and services by maintaining the utmost quality and professionalism. To meet the needs of our patients, a wide variety of medical equipment is offered to the community. Medical equipment can range from oxygen delivery devices, nebulization supplies, and even home sleep equipment for sleep apnea. Our staff will have considerable experience, able to handle the range of medical demands or needs of those in the community including pediatric to adulthood. Target Market: Our business specializes in respiratory equipment needed in the home setting for pediatric and geriatric patients. Many respiratory disease processes will benefit from assistance of equipment, for example, asthmatics, chronic obstructive pulmonary disease (COPD), obstructed sleep apnea (OSA), and even recuperating from COVID patients. The market seems to be a little higher for the geriatric age compared to the pediatric. According to an article by AARC, the demographics show a quickly aging population, and that the baby boomers are retiring at high rates, which has led to higher sleeping disorders testing and treatment needed for this generation ( Are There Opportunities for RTs in Home Care? Yes, There Are! , n.d.). Providing care for all

3 ages is a necessity in order to help everyone breathe easy, especially to such a small town like Raceland, Louisiana. Products and Services: To ensure that our patients and clients receive top-notch care, Breathing Right Now works hands on with patients and family. Registered Respiratory therapist will be available to ensure that the patient and their family will get all important knowledge which can include: learning and use of technology, understanding the equipment, know the barriers, and offer support (Willden, 2019). Staff will also work behind the scene to ensure insurance processing and billing is done in a timely manner. Competitive Analysis: Competitor Name Breathing Right Now Lincare Breathing Care Strengths Have an established relationship with the physicians in the Raceland area and physicians at the local Ochsner St. Anne. Have an established relationship with the Houma area and with two major medical facilities in the area. Have an established relationship with the Thibodaux area which includes one hospital and four nursing homes. Weaknesses We are currently a newly started company. We do not have the resources to attract outside of our city limits. We are just getting started, and do not have the reputation like this facility which is in multiple cities and states. This makes a huge weakness towards us being only one location. We are just getting started and not well established with as many long care facilities. We also will not be getting as much price break packages, since just starting out. What we will do differently In our company, client happiness will come before revenue. Such a strategy will promote In order to guarantee patient satisfaction, our company gives great one-on-one care. To encourage more people to use our local services, our company will concentrate on offering

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