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Hospital Feasibility Study
Market Survey and Feasibility Study for setting up a Healthcare Facility
Introduction
A Hospital Feasibility Study is the best way to find out the sources of patient flow to the Hospital. The Feasibility Study comprises both a Market and Financial Analysis of the Project and is an essential aspect to be considered either while establishing a new hospital or a new facility in an existing hospital or expanding the existing hospital.
Objective of carrying out a Market Feasibility Study for a Healthcare Facility
Format suitability, whether if Tertiary - Single, Multispecialty or Multi-super Speciality
Evaluating the suitability of the proposed facility location
Identifying the right Specialities to be provided by the Healthcare Facility for the location
Understanding the Critical Gaps in the Private Healthcare provided in the planned catchment by the key factors that Doctors in the area look for from such Facility
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Why and How Hospital Feasibility Study Done?
Hospital Project Report Costing
Market Feasibility for Hospital Project Viability
Assessing Hospital Project Market Feasibility Study
Carrying out a Market Feasibility Study helps
New investors looking at opportunities in Healthcare delivery space
Completing a thorough competitive analysis given the healthcare service lines being explored.
Carrying out a demand analysis for the space or medical services provided by the proposed facility
Projecting the trends that are shaping what these markets will look like in the future
Funding agencies in examining infrastructure investment in regions with less healthcare facilities
Overseas players wanting to replicate a successful chain model in India
Medical Suppliers looking to penetrate the Corporate Hospital market
Preparing Detailed Project Report (DPR) based on Market Analysis
Methodology & Approach to a typical Hospital Feasibility Study
Establish the Doctor Group to be surveyed depending on the preferred specialities. To include:
General Practioners
Consultant Physicians
General Surgeons
Specialist Doctors
Use a combination of Qualitative Surveys & Quantitative Surveys. The Qualitative Surveys being free flowing interview taking about 45 minutes for each Doctor and Quantitative Surveys, based on a more structured approach taking about 30 minutes for each.
Survey will be structured to evaluate the prospects for the new Hospital based on the following factors.
Adequacy of Hospitals with these specialities in the Core Area
Quality of these Hospitals based on
Facilities & Infrastructure for handling advanced treatments
Patient Satisfaction
Treatment quality
Doctor Recommendations on specialities and others.
Location suitability
Competition evaluation
Format suitability – Primary, Secondary and Tertiary and if Tertiary
Single Speciality
Multispecialty
Multi-super Speciality
Results that can be expected from our Hospital Feasibility Report
Format recommendation: To begin as a Multi Specialty Hospital and then transform into a Multiple Super Speciality.
Super Speciality recommendations like
Secondary care speciality recommendations
Supporting specialities to complement the specialities offered and cater to the general needs of the area.
Business model recommendations : Corporate Image model, Speciality driven
Hospital Project Report and Business Plan
Hospital Project Report Preparation
Based on the Market Information gathered through the Study and decision taken on the Services / Procedures to be offered, both clinical and diagnostic, we prepare the Project Report cum Business Plan for the proposed Hospital, covering the Phases of growth, over a 10-year period.
Based on the study and if needed, we work out the Costs based on segments of Patients using the Hospital's Services.
For lower range patients, i.e., providing very affordable care
For mid to higher range patients i.e., providing a For Profit, Private Hospital type care.
Capital Costs and Revenues will be worked accordingly to determine feasibility of each option. This report will be the very basis for the decision on the mix of treatment to be provided.
The Project Report cum Business Plan would include
Details of the Project
Project Description
Locational Advantages
Market Analysis
Hospital USPs / Differentiating Factors
Risk Analysis & Contingency Plan
Demographics
Service and Revenue Mix
Stacking Plan
Bed Distribution
Market Plan
Staffing Plan
Projected Financials
Estimated Project costs including
Construction Costs
Equipment Costs
Fixed Costs
Variable Costs
Operating Costs
Estimated Income
Projected Profitability Statement
Projected Cash Flow Statement
Projected Balance Sheet
Healthcare Due Diligence Study
Operational Due Diligence Study of the entire Hospital to examine in detail the existing Infrastructure, Facilities, Equipment, Licenses and Approvals, Staff, and other Resources. The coverage primarily under each of these heads would be: Read More...
Manpower Planning and Recruitment Assistance
Based on the Stagewise Roll Out Program as given in the Business Plan we prepare the Organogram covering the Senior and Middle Level Staff, Clinical and Non-Clinical.
On approval of this Staff Master List by the Hospital Management we will provide the Qualifications, Experience and Privileges for each Post, as well as information for placing the recruitment advertisements.
All these requirements will be in compliance with the National Accreditaiton Requirements - the NABH. Read More...
Our Latest Indian & International Hospital Feasibility Study, Hospital Detailed Project Reports (DPR), Healthcare Due Diligence Study, Healthcare Market Analysis and Procurement Assistance Clients
Tristar Global Logistics Nairobi, Kenya, East Africa
Sajida Foundation, Ashulia, Dhaka, Bangladesh
Sajida Foundation, Keranigonj, Dhaka, Bangladesh
Labaid Flagship Hospital, Dhaka
Labaid Cardiac Hospital Uttara, Dhaka
Proposed Cancer Centre Across All division of Bangladesh
Proposed Hospital at Tangail, Bangladesh
Bangladesh Medical Science & Technology Limited (BMSTL), Bangladesh
Planned Hospital and Clinics in Nigeria, West Africa
RAAG Healthcare, Indonesia
Tej Medical Administration and Research Services Pty Ltd, Queensland, Australia
Feasibility Study and Detailed Project Report for Multispecialty Hospital in Port Blair (Andamans & Nicobar)
Dental Clinic at Mauritius, East Africa
Proposed Day Care Center in Chattogram, Chittagong, Bangladesh
Padmabati Devi Hospital, 1000 Beds, Jamshedpur
Nayara Energy Limited, Jamnagar, Gujarat
SRM Global Hospitals, Kattankulathur, Chennai - MFS & DPR
Multi-Specialty Hospital Feasibility Study and Project Report at Jodhpur
Infraprime Logistics Technologies Ltd - FS & PR for a Healthcare Facility in Gurugram.
Sundaram Medical Foundation, Chennai - FS for setting up a Cath Lab at SMF
SRM Chennai - FS & PR for Medical College & Teaching Hospital in Amaravati, Andhra Pradesh
Sundhar Surgical and Regenerative Centre - Market Feasibility Study for a Hospital at Kolapakkam, Chennai
Roever Group of Institutions - Feasibility Study & Project Report for a 100 to 150-bed tertiary care hospital at Perambalur
Vimal Enterprises - Feasibility Study & Project Report for 200 Bed Teritary Care Hospital at Latur, Maharashtra
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Case Study 1
100 Bed Speciality Hospital in Dharmapuri
We conducted the primary survey study in the catchment to explore and understand the market. Aim: To explore and formulate the market Feasibility and Financial Viability of a Tertiary Care Hospital in the district. The district does not boast of a dynamic healthcare system as both public and private healthcare options are very few and underwhelming. The majority of the patients are travelling to Salem, Hosur or Bengaluru for major healthcare ailments and tertiary care services.
Findings: The study results accentuated the enormous prospect for a good healthcare provider who can alter the landscape of the district by providing key specialities that are not available till now in the catchment. Based on the findings, we derived upon the insights and prescriptive, predictive analysis was done and based on the same we recommended the clinical specialities along with the capacity planning required for this project.
Project Status: The project is in the developmental post-design stage and the hospital is expected to commence the operations by the end of 2023.
Case Study 2
1000 Bed Super Speciality Hospital in Jamshedpur
About the Project: This Hospital was being planned to address the urgent needs for High Quality, Tertiary and Quaternary Care Level Healthcare Services in Jamshedpur and Neighbouring Areas. This hospital is being formulated to suit those needs. The market Feasibility Study Identified and addressed the gaps and needs and stressed the requirement of a good hospital in addition to the iconic TMH already present in Jamshedpur.
Competition: To keep pace with this growth, the need for good healthcare facilities in this City has tremendously increased beyond what TATA Main Hospital, of the TATA Group, the largest Hospital in the City can cater to, making the residents look outside for treatment. The planned Hospital should also focus on differentiation and duplications to be offered to enable market-fit service delivery.
Primary Study: The primary study also highlighted the rarities, high incidence indices, and unavailable specialities. The survey investigated the distribution of cases by the city as well as the advantages and disadvantages of the competition.
Recommendations: Based on the findings from the original survey, we recommended a combination of Market Fit Specialties, and we designed the project's roll-out strategy with the needs and Medicaladvancements of the present and the future in mind.
Case Study 3
Specialty Cancer Hospital in Tirunelveli district
About the Project:Tirunelveli, a district in southern Tamil Nadu, has seen a rise in cancer incidence in recent years. However, the hospitals are struggling to meet the growing demand for cancer care services. Patients face extreme challenges such as waiting times, the need to travel to other cities for cancer care and the shortage of skilled oncology professionals. To address this gap, Udhavum Ullangal, a non-governmental organization (NGO), engaged us to conduct a comprehensive market feasibility study for the establishment of a Specialty Cancer Hospital in Tirunelveli district.
Key Findings :
The study identified several key findings, including:
High incidence of the disease: Tirunelveli has a high cancer incidence, with breast, lung, and oral cancers being the most common.
Limited access to cancer care services: Tirunelveli has a shortage of specialized cancer care services, forcing patients to travel to distant cities for treatment.
Need for a dedicated cancer hospital: A dedicated cancer hospital in Tirunelveli would improve access to care, reduce waiting times, and augment patient outcomes.
Recommendations : ACME Consulting recommends a phased approach to establishing the Specialty Cancer Hospital in Tirunelveli. This strategy will take into account budget constraints, optimize capacity building, and allow for strategic planning.
Benefits :
The establishment of a cancer hospital in Tirunelveli would offer several benefits, including:
Improved access to cancer care services: Patients would no longer need to travel long distances for treatment, which can lead to language barriers and exclusion from state healthcare schemes.
Reduced waiting times: Specialized radiation therapy would be available locally, reducing waiting times for treatment and improving patient outcomes.
Enhanced collaboration and economic prosperity: The hospital would foster collaboration among healthcare providers, government agencies, and community organizations. This would facilitate the exchange of knowledge, resources, and expertise, paving the way for a more comprehensive approach to healthcare delivery. The hospital would also generate employment opportunities, stimulate economic activity, and alleviate the overall cost of cancer care for patients and their families.
Conclusion : Establishing a Specialty Cancer Hospital in Tirunelveli is a strategic endeavour poised to revolutionise southern Tamil Nadu's healthcare landscape. By addressing oncology service deficiencies, enhancing access, and encouraging collaboration, the hospital will benefit the local population and create a positive economic impact. The recommendation of a phased rollout guarantees a sustainable and effective approach to providing exceptional cancer care, ultimately improving mortality rates and enhancing the quality of life for the people of Tirunelveli.
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