Hospital Business Plan in Nigeria
EXECUTIVE SUMMARY FOR HOSPITAL BUSINESS PLAN IN NIGERIA
It is not a surprise that the number of hospitals in Nigeria is not sufficient to meet the needs of its current 198 million citizens. Most countries in the world face the same challenge, hence, a need for more investment into the healthcare sector. Due to the above facts, it is safe to say that many hospitals are stretched beyond their capacity.
Also Read: Pharmacy Business Plan in Nigeria
To get your sample Hospital Business Plan In Nigeria, pay N10,000 to:
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, text your full name, email address and title ( e.g. business plan for starting a hospital pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
The ones that aren’t stretched tend to be too expensive that the ordinary man on the street finds it too difficult to pay for the services rendered.
Our hospital is to be located in the heart of Lagos State, Nigeria. This city, though the smallest in landmass, boasts of the highest population, not just in Nigeria, but on the African continent. Figures released reveal that there is an inflow of at least 2,000 individuals into the city on a daily basis, most of these in search of business opportunities and greener pasture.
We intend to solve this problem by firstly, providing top quality medical services within Lagos State. Our services will be second to none and we intend to create a balance while doing this. More than three-quarter of the population live from hand to mouth, looking for means of survival. We intend to create a balance between providing top-notch health services and ensuring that they are affordable enough to be paid for the average citizen.
To achieve this vision we need a total of #46,000,000 as startup capital. We expect to utilize this judiciously to bring the hospital to its feet within the first three years of operation where it is expected to have attained breakeven.
CHAPTER 2 – INTRODUCTION
Though not listed among the basic needs of man, each of those needs is geared at keeping a man healthy. This makes it obvious that healthcare is one of the key aspects of man’s life that must be serviced. No one, not just in Nigeria, but everywhere else, has required medical services at some point in their lives. This does not dispute the fact that they may have gotten it either through orthodox or traditional means.
It is not a surprise that the number of hospitals in Nigeria is not sufficient to meet the needs of its current 198 million citizens. Most countries in the world face the same challenge, hence, a need for more investment into the healthcare sector. Due to the above facts, it is safe to say that many hospitals are stretched beyond their capacity. The ones that aren’t stretched tend to be too expensive that the ordinary man on the street finds it too difficult to pay for the services rendered.
A few factors must be put into consideration before setting up a hospital. We have enumerated these key factors in the next few paragraphs:
- Location of the Hospital. More than half of the cases that are referred to hospitals are known to be emergency-related. This is why the hospital must be situated in a place that is easily accessible to the populace and ambulances. The road network must be top-notch and the population but be dense enough for the idea to thrive. It is also important to consider the number of hospitals in that location, the fewer the better.
- Real Estate. The building for the hospital can be set on a newly purchased or leased land or can be rented from a pre-existing owner. This building is required to satisfy all the requirements set by the Ministry of Health, NAFDAC, and other regulatory bodies overseeing the medical sector as regards infrastructure. It is important that all documents are duly approved, signed, sealed, and delivered to avoid regrets and embarrassments in the future.
- Facility and Equipment. Medical equipment is not usually on the cheap side. It costs a lot to set up a hospital in this regard. The hospital authorities are required to make procurement of top-quality facilities and equipment from reliable sources. Put in mind that these items may cost a fortune, especially if they have to be imported from outside the country. It requires a lot of research to get affordable equipment that is still qualitative.
- Water and Power Supply. Without these two elements, running a hospital is almost impossible. The hospital authorities must ensure that is backup electricity, especially with the state of the Nigerian power sector. This is important to cut down eventualities that will arise from power outages. Water concerns should also be addressed as it is the life wire of most of the processes carried out within the hospital premises.
- Waste disposal. One of the problems that have plagued the Nigerian environment over the last few decades has been waste disposal. A hospital will always produce biomedical waste and sewage. It is imperative that these are duly catered for in the blueprint of the hospital so that they are easily taken care of as part of general operations. A relationship should be developed with the relevant authorities to ensure that these waste products are lifted from the hospital premises with tact and efficiency.
- Staffing. Choosing staff for a hospital is very sensitive as it is a business that deals with human life. In essence, you cannot accommodate quacks or below-standard workers. To keep you above the competition at all times, your hospital must recruit the best hands in the industry and must be willing to gain their loyalty by providing the necessary incentives.
- Licenses and Permits. The hospital authorities must obtain the necessary licenses and permits from all regulatory bodies at Local, State, and Federal levels. These are necessary to ensure that the business operates within the legal boundaries of the sector and the authorities face no embarrassment at any point during operation.
- Management and Marketing. The hospital authorities must raise a management team that is focused on handling the daily affairs of the hospital, staff recruitment, policy development, etc. These individuals must be appropriately qualified for the job and be ready to carry out their duties efficiently. A marketing team is required to publish the image of the hospital to the rest of the world. This will translate to attracting increased revenue to the hospital, making it grow to be one of the renowned health facilities within the shores of Nigeria.
REASONS FOR THE POOR STATE OF THE HEALTH SECTOR IN NIGERIA
According to the Federal Bureau of Statistics, Nigeria has an estimated population of 198 million individuals with a growth rate of 3% per annum. This implies that in 2050, the Nigerian population will be 250 million.
Despite this population growth rate, there is no commensurate rise in the efficiency of the health sector. Over the last few years, we have seen once-prominent health structures become dilapidated eyesores, doctors and nurses striking as a result of owed salaries, a mass exodus of qualified medical personnel to other countries, etc. All of these make it evident that the health sector is being eaten up by a lacuna that must be extinguished from the system for it to rise again.
There are several reasons why this sector is continually deteriorating. A few are stated below:
- Inadequate funding from government and reduced budgetary allocation on research and drug distribution.
- Lack of sufficient medical structures to satisfy the growing demand due to the constantly increasing population.
- Inefficient medical regulatory regime.
- Reduced foreign investment in the sector due to a lack of confidence and invisible growth prospects.
- Reduced number of technically qualified manpower to handle healthcare services.
- The cost of medical services and the absence of adequate medical insurance programs.
- The presence of substandard drugs in the country which is mostly distributed to the poor and rural areas.
GOVERNMENT REFORMS TARGETED AT IMPROVING THE MEDICAL SECTOR IN NIGERIA
The present government is not unaware of the challenges facing the medical sector and has set in place certain reforms to restore the sector to its rightful place and provide the necessary services. A few of these reforms include:
- The liberalization of laws that allow private owners to invest in healthcare delivery.
- Introduction of incentives that will lead to the establishment of more healthcare facilities.
- Ensuring regulation provides for maximum quality at the best prices possible so that the low-income earners can also benefit from the sector.
- Increased financing in the healthcare sector and higher budgetary allocation.
- Empowerment for the different regulatory bodies overseeing the medical sector in the country.
PROBLEM STATEMENT
Our hospital is to be located in the heart of Lagos State, Nigeria. This city, though the smallest in landmass, boasts of the highest population, not just in Nigeria, but on the African continent. Figures released reveal that there is an inflow of at least 2,000 individuals into the city on a daily basis, most of these in search of business opportunities and greener pasture.
It is expected that the number of hospitals within the State would have increased to accommodate the constantly increasing population. However, what we have are shams and quack hospitals. Very few hospitals are able to adequately service the health demands of the populace and most of these few offer their services at cut-throat prices.
Get your sample Hospital Business Plan in Nigeria today. To order the business plan, pay N10, 000 to:
BANK NAME: GUARANTY TRUST BANK (GTB)
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 0044056891
OR
BANK NAME: FIRST BANK PLC
ACCOUNT NAME: CHIBUZOR TOCHI ONYEMENAM
ACCOUNT NUMBER: 3066880122
After payment, send your full name, email address and topic (e.g. hospital business plan pdf) to 07033378184. Your business plan will be sent to your email within 15 minutes.
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