Business plan (Medical Informatics and Laboratory Management)

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Business plan (Medical Informatics and Laboratory Management)

Coordinator’s HELP Session on Financial aspect of Essay 2: Business Case (Business plan)

Medical Informatics and Laboratory Management

Essay 2

The purpose of this essay is to develop a business plan based upon a project that you have been given. Your business plan should contain all the key elements including background, executive summary, situational and problem statement, project description, solution description, cost/benefit analysis, implementation timeline, critical assumptions and risk assessments and conclusions and recommendations. Imagine you are a team member of a large public hospital pathology service and you have been asked to formulate a business case to support an initiative of introducing a new section of ‘Molecular Genetics’. You have been briefed that you could expect to process approximately 200 samples per day. The scenario is that you are setting it up for the first time in a moderately sized pathology service (physical space and facility has been made available). You will need to consider staffing for the molecular genetics area, infrastructure (equipment) and kind of service (maternity/paediatric genetic testing).

Essay length: Approx.2000-2500 words. Format: Your essay will be descriptive supported by evidence from researching your topic. The business plan should contain all the key elements listed above. For cost analysis, an excel spreadsheet would be desirable. The essay should be word-processed in double spacing using Times New Roman and no less than 12 point font size. Your essay should have a title followed by your name and student number. You should include a brief list of sources used in preparing your business case. Submission Method: Submit your essay as an assignment via Turnitin under Assignments in Blackboard.

Costing for major components • Equipment – Major laboratory system $1 million dollars – A single major machine $100,000 – A bench top small instrument $20,000 – 50,000 • Reagent: reasonable guess • Staffing – Pathologist $200,000 p.a. – Scientists $80,000 p.a. (Masters graduates +8.5% loading) – Technicians $50,000 p.a. – Cleaners $45,000 p.a. – Clerical officer $45,000p.a. – Other Direct and Indirect Cost: reasonable guess • Activity-based costing addresses the actual work completed within a company and places the focus on ‘how work is performed.

Direct & indirect costs • Direct cost (expenses) – Consumables, labour, equipment costs, office supplies • Indirect cost (expenses) – Overhead expenses

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