Running Head: FEASIBILITY STUDIES ON BLISSPARK HEALTHCARE CENTER .

Feasibility Studies on Blisspark Healthcare Center

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It is a general practice to analyze a project scope before taking any further steps. That is

where the feasibility study comes in. This study includes estimations of the level of expertise

required, identification of crucial factors, carrying out both the qualitative as well as quantitative

assessments of possible outcomes, operational risks as well as operational gaps. In other words,

this study will determine the viability of Blisspark Health Business. The thorough analysis of the

practicality as well as sustainability of this concern brings together all the elements that aid in

realizing whether Blisspark project justifies the value of its investment. For this project the

feasibility study will comprise of industry and market feasibility, service feasibility, financial

feasibility and finally entrepreneurial readiness.

Industry and Market feasibility

There is no doubt that healthcare business is one of fastest growing industries in the

world. The main reason behind this rapid upsurge is because the wealth of a nation depends on

its health. Obviously there are hardly any places where healthcare industry is not handled with

utmost seriousness. In fact, Mclaughlin (2018),tells us that this industry is well known to quaff

over 10 percent or so of the GDP of most countries. The healthcare industry is indeed a massive

investment project since we have estimated the growth rate for this year to be at 4 percent with

revenue worth $7 million at the end of this year. Basically this information is a great

encouragement as well as a big motivator for Blisspark health center. Currently the facility

comprises of healthcare providers who are licensed to work as medical practitioners providing

medical treatment and education to help patients deal with health issues.

On the other hand, the market trends are thriving in this dynamic industry. With the aid of

technology, it is becoming easier to sell educational products to patients in wide or remote

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regions. Moreover, our products are becoming increasingly recognized in the market segments

since we have seen demand for our products surging up over the last few years. There is no

doubt that this surging is bound to continue because the aging baby-boomer generation in the

U.S is expected to drive increasing demand for health care services. Since we haven’t established

ourselves fully in the market, we target both customers who have insurance cover and those who

do not. However, it should be noted that our open door policy to a wide range of customers will

not by any means stop us from abiding to the general regulations governing health centers.

Service feasibility

Blisspark health facility has ensured that clients are well treated and taken care of. Our

services are carried out by highly trained professionals who are dedicated to serving patients and

providing them with high quality products that will improve their overall health. Our service

team comprise of health counselors, opticians, doctors, physical therapists and other non-heath

workers in the IT department who actually are dedicated to increase sales of our products online

as well as provide health information among many other roles they play to ensure the business

remains competitive. The healthcare services that Blisspark currently offer include outpatient

care, physical and speech therapy among other online health services. Our service team

welcomes clientele in person or on the telephone to answer or direct enquiries. Through these

interactions, our client service executive uses every opportunity available to build client’s

interest in our products and services.

Financial Feasibility

Blisspark is dedicated to ensure that we do all we can to maintain the liquidity of this

company as well as maximize the sales to generate more income. So far the contribution margin
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sales ratio is way above production costs. Since the business is still under its growth stage, this

ratio represents a business that is stable and therefore puts us in good position to borrow as well

as attract future prospects investors. We have finished most of our expenditure start-up budget

and are only remaining with bank loan that we expect to clear by next year. To remain

competitive and become one of the market leaders we are going to explore all available means to

promote our health center. We plan to expand our facility in an attempt to increase revenue. Our

plan is to construct a new block that will cost $5 million but with the forecasts we have

conducted, the new block will increase the business revenue by approximately $4 million

annually. At Blisspark we recognize that the future of business lies in the number of clients,

employees’ competence as well as investment strategy.

Entrepreneurial Readiness

This industry is indeed dynamic; there is no doubt that there are several ways of

providing healthcare services in this digital era. Health services are not only provided only in

health facilities but can be offered at workplace, in the community or even at the comfort of your

home. The health industry recently has begun consolidating due to the pressures of healthcare

reforms. As entrepreneurs, in order to maintain an advantaged position in this competitive

market we have sourced for most skilled personnel in every department to move this concern in

the right direction, and indeed it is working pretty well. Profitability levels have surged over the

past few years generally due to quality service we provide to our esteemed client and this will

only get better.

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References

Chaffey, D. (2015). Digital business and e-commerce management. London: Pearson Education

Limited.

Evans, C. J. (2010). Financial feasibility studies for healthcare. New York, NY : McGraw-Hill

Jansen, W. (2017). New business models for the knowledge economy. Routledge.

Mclaughlin, (2018). Health Policy Analysis. Burlington: Jones & Bartlett Learning, LLC

Vilcahauman, L., &Rivas, R.(2017). Healthcare technology management systems: Towards a

new organizational model for health services. London: Elseiver