All Market feasibility studies should look at how things work, if they will work, identify potential problems. Feasibility studies are done on ideas, campaigns, products, processes, and entire businesses.
Feasibility studies are assessment tools – not just reports to try and sell your business to investors. They should consider both pros and cons and analyze a variety of potential business scenarios.
Conduct a preliminary analysis:
It sounds strange to say that we need to a Market pre-feasibility study in order to know if we need to do a feasibility study, but it’s true! A little bit or early research will help us determine if we need to proceed with a full-blown investigation
Resources: Online available data’s, Magazines, Newspapers, Publications etc.
Once the ground work is complete we proceed with the detailed investigative market report
The objective of the Assignment: The main objective of the Hospitals project has to be identified and studied.
MARKET FESABILITY STUDY :
A Healthcare overview of the Targeted area:
- Health Care Scenario – A small Introduction of the country which you are targeting
- Key Healthcare Indicators – A health indicator is a measure designed to summarize information about a given priority topic in population health or health system performance.
- Healthcare Expenditure – Present & Future
- Public and Private Participation in that country.
Profile of the Targeted Country:
- An Overview
- Socio-Economic Status
- Healthcare Condition of the Targeted Area at a Micro Level
- Healthcare Sector
- Disease Pattern – Public and Private Sector Hospital
- Epidemiological Transition
- Service Area Profile
Primary Data Analysis:
- Population Mix
- Growth Drivers
- Economy Parameters
- Existing Corporate
- Residential and Commercial Development
- Current Market Research of the Targeted Area:
- Market Size – Key Market players, Facilities (Facility mix, Service mix, Market potential, No. /Type of Cases) Schematic Drawings.
- Business Size – Total Market size, No. of Hospitals/Clinics/Diagnostic centres/Day Care Centres and others.
- Business Share – Total Market share, No. of Hospitals/Clinics/Diagnostic centres/Day Care Centres and others.
- Competitors – Providers, Numbers, Business, Infrastructure, Skill-set, Space, Clientele, Positioning
- Drain-In & Drain-Out Business
- Skill & Infrastructure availability
- Service Price Points
- Population Mix
- SWOT Analysis & Challenges. (Strengths, Weakness, Opportunities & Threats)
Financial Feasibility Study:
Identify the components and requirements needed for the study:
Key points to be covered in this stream are as follows:
- Analysing the current market scenario detailing the existing healthcare providers, entry barriers, suppliers and the buyers.
- Estimation of likely income-earning potential of the suggested model: Tariff structure would be derived through the data collected from incumbent service providers.
- Quantifying the Need-Supply Gap.
- Identifying the key healthcare providers in the said area.
Recommendations on services-mix, planned centres of excellence, phasing of facilities.
It will recommend the project’s capital cost, operational expenses and understand the viability of the project depending on the service-mix and infrastructure requirements.
HIS will submit a Detailed Project Report (DPR) after reviewing the catchment area across various parameters, and identifying the related opportunities and constraints. The DPR/ the resultant module will contain the following:
- Definition of facilities (service-mix and departments)
- Estimation of capital costs
- Estimation of likely income (daily and annual) & operating costs at varying capacity utilization levels
- Projection of financial performance
- Optimal funding mix
- Break Even
- Estimating key viability indicators:
- Internal Rate of Return (IRR)
- Project Payback
- Debt Service Coverage Ratio (DSCR)
- Break Even Point (BEP)
- Perceived risks and mitigation strategies
- Differentiators and Critical Success Factors (CSFs)
If you need any support in Planning and Designing of a new Hospital OR Medical College you can contact us: Hospaccx healthcare business consulting Pvt. Ltd on: [email protected] Or you can visit our website www .hhbc.in.