5 errors to avoid in Hospital planning

5 errors to avoid in Hospital planning

The Healthcare landscape is no longer an easy terrain to navigate. There are hurdles at every stretch of the road like workforce attrition, skyrocketing costs, and unexpected speed breakers like the pandemic lockdowns and rising competition.

If you are a first-time Healthcare entrepreneur who is desirous of starting his/ her own Hospital or healthcare facility, you will agree that the journey ahead seems to be full of alarming twists and turns. But don’t worry! You can drive on this road safely and smoothly and reach the destination of success if you plan your journey well and use the roadmap of expert help.

Planning is the first step in the voyage towards the fulfilment of any vision.

Do read on to be aware of the 5 errors to avoid in Hospital planning

1. Failure to have a business plan

 A strong strategic plan is the spine of any organizational goal. Many medical professionals may lack the time to curate a strategic plan for your healthcare facility. Do not make this mistake. A strategic plan can help you formulate and concretize your dreams.  This plan should ideally list your goals, your way forward to achieve these targets in a time-phased manner, your financial status, your core competencies etc. Your strategic plan should also give you insights about the segment, the market trends, and your likely competition too. The business plan should also incorporate tactics on how your hospital or healthcare facility will attain different milestones.

2. Failure to invest in a feasibility report

Many first -time entrepreneurs plunge into the waters of business without donning the safety belt of investing in a feasibility report. A feasibility report is an in-depth analysis of the profitability and practicality of your plan. It is a comprehensive evaluation of varied parameters like site and infrastructure elements, market analysis, competitor studies and financial analysis for your project.  It gives you an impartial view of whether you can successfully launch your Healthcare enterprise or whether it would be wise to give up on this idea.

3. Failure to plan your funding

Hospital financing is a mammoth task and needs careful consideration of investors, loans, and financial assistance. Many physician entrepreneurs make the mistake of thinking that they can self-fund the entire Hospital venture only to run short of funds. Hence, it is better to carefully plan your finances. You must have a strong business plan in place so that your potential investors gain confidence and decide to invest in your project.

4. Failure to plan site and design with expert help

You might think that you have designed the interiors of your home on your own, so you are equipped to design your Healthcare set-up on your own. But I have news for you.  The smallest and simplest of hospitals also requires a great deal of site, infrastructure, interior and equipment planning. It is better to involve specialists from the realm of Hospital architecture and design in this. These specialists will conduct site surveys to help you narrow down on the best location for your Healthcare facility. They will give you space-saving and sustainable architectural blueprints; tailor-made to fit your needs. They will give you lay-out plans most suitable to your speciality, your corporate ethos, the budget and expected footfall.

Healthcare Equipment planning is a science by itself Specialists can help you plan to procure the best-suited medical equipment and machinery from the best vendors units with the best terms of service and repair agreements.

5. Failure to navigate through licensing

In the Healthcare world, the licensing and litigation procedure is of paramount importance. Even before the first brick is laid on the ground, there are various permits, government licenses, and accreditations to be procured. Collating all these regulatory documents takes time, patience and efforts and many Healthcare entrepreneurs are overwhelmed by the tediousness of these statutory requisites and miss out on some small legality which causes them a lot of hassle in the future.

If you avoid these 5 errors while planning your hospital or healthcare facility, you will be all set to start your venture with confidence. If you feel that the nuances and nitty-gritties of planning can interfere with what you love to do…that is taking care of your patients’ wellness…take outside help for planning. You can spare yourself from the pain and stress of planning by outsourcing the hospital planning part to reputed hospital consultant firms who usually have a cohort of experts from varied fields who can handhold you through the initial phase of planning and help you avoid the common pitfalls which can prove to be costly not only to your pockets but also your performance and your credibility.

Blog has been written by Dr. Vishal Jadhav, a veteran in the field of hospital consultancy with a rich experience of more than 20 years and founder of the Healthcare Consultancy Firm, Hospertz.

Dr. Vishal Jadhav, Director
hospertz@gmail.com
+91 9867712705/ 9820833149