BUS 6190 CMU Medical Courier Business Plan Presentation

1
Running head: MEDICAL COURIER BUSINESS PLAN
Medical Courier Business Plan
Course title
Student name
Institution affiliation
Date
2
MEDICAL COURIER BUSINESS PLAN
Medical Courier Plan
Business Overview
People are in need of courier and delivery services all over the world, either for
emergency services or for conditions where one cannot buy the medicine or get required
equipment themselves. This business idea was encouraged by the desire to meet all the needs
of patients and healthcare facilities all through ensuring faster delivery of require equipment
and medical-based items. It is an international courier company based in Alabama. The
organization operates both within and outside is base and its operations are done either via
delivery trucks or aeroplanes, all which is dependent on the distance and location of delivery.
The medical delivery business will focus on the delivery of equipment to patients and
healthcare providers as well as specific specimen to laboratories for testing purposes. It will
also take part in carrying donor organs and recipient patients to hospitals. The organization is
unique because of its specialized delivery features such as speed, security, safety, tracking,
and specialized and personalized services. It will provide mainly metropolitan and local
deliveries due to lack of enough resources. It will deal with participants from healthcare and
pharmaceutical sectors. The organization’s goal would be to become among the leading
medial courier companies in the industry, and ensure that all the deliveries made compete
with the best in the courier delivery industry. The company values its customers and will
therefore go an extra mile to satisfy their every need.
Products and Services
The organization is involved in the medical courier and deliver services with the aim
of gaining profit. The organization is positioned in a way that it would favourably compete in
the courier and delivery industry and market availability. Within the policies and laws
3
MEDICAL COURIER BUSINESS PLAN
permitted by the government, the organization will perform several services to meet its
business goal. The services offered by the organization include;
•
Delivery of medical instruments to both patients and healthcare organizations.
•
Delivery of specimen to laboratories for purposes of testing
•
Carrying donors and recipients to hospitals
•
Offering air and surface medical courier delivery services
•
Delivery of personal prescriptions in collaboration with healthcare organizations and
pharmacies.
Mission and vision statement
The mission of the organization is to become one of the best courier companies with
active operations all over the United States, and grow to into an inter-continental based
organization well known for its quality services. Beginning its operations on an inter-state
level, the organization has the goal of growing into the leading international medical courier
company. This would assist in improving the poor medical services experienced all over the
globe.
The mission is to found a standard courier and delivery organization that will make
available diverse services within the medical courier and delivery industry, and do so at an
affordable rate within and outside its base. While serving a diverse group of customers, the
organization’s delivery prices with change to meet the nature of its market and customers,
thereby accommodation all its customers.
Organizational Structure
Following the organization’s mission and vision statements, the organization will put
in place the right structure that will enable its growth in the future. The organization would
4
MEDICAL COURIER BUSINESS PLAN
implement a good business structure and hire only qualified and customer centered workers
who were ready to operate to their best level. The business structure chosen by the
organization would build a prosperous business that would benefit all its stakeholders. The
organization’s for-profit structure would be used in an arrangement that would be made
available for the entire staff in a profit sharing manner. The organization will avail several
positions that would be filled by qualified and capable personnel. The structure of the
organization would be built from its personnel and from the organization’s operations which
would be a success upon hiring qualified and well suited personnel. This would incorporate;
o Chief Executive Officer (CEO)
o Administration and Human Resources management position
o Sales and marketing management position
o Accounting position
o Transport and Logistics management position
o Customer Services Executive
o Dispatch Riders
However, as the organization continues growing, more and more positions will come
up to fill and meet the needs of the growing organization. Therefore with growth, the
organization would improve its operations and hence improve its revenue to cover all the
acquired responsibilities. While currently operating at an inter-state standard, the
organization’s size is basically small. However, with its growth, the organization looks
forward to acquiring and developing other smaller facilities that would improve the delivery
services and ensure quality of products being delivered. Among the facilities would be an air
transport company which would be basically meant for carrying company cargo and
transporting patients to healthcare facilities, as well as moving organs from one facility to the
next.
5
MEDICAL COURIER BUSINESS PLAN
SWOT Analysis
The organizations was started after a detailed business research and a detailed analysis
of the location in which it was based. However with the research, the business was given a
grace period of three years where its performance would be assessed as a decision made on
whether it put more assets into the organization and expand the business or dissolve the
organization’s existence completely. Since there are several medical courier and delivery
companies in the United States, the progress of the organization from its implementation
would be assessed to bring an understanding to the organization’s progress and operations, as
it is done in all start-up businesses. Among the research conducted is a SWOT analysis
which was aimed at understanding positive and negative sides of the company at its start-up
and throughout its existence. The analysis would assist in improving the position of the
organization.
The SWOT analysis was conducted by the organization’s Human Resources
management and a group of expert business analysts. They also assisted in creating an
operative business model that would help the business in achieving its goals and short and
long term objectives. The SWOT analysis identified the strengths, weaknesses, opportunities
and threats the company would face in the business environment.
Strengths
i.
The business was located in a strategic location with less competition and more of its
target customers
ii.
The company established an easy payment mode for its customers and this is aimed at
easing the transactions.
6
MEDICAL COURIER BUSINESS PLAN
iii.
The company has a wide range of effecting dispatch team, equipped with vans and
bikes for fast local deliveries, and an association with an aircraft company for interstate courier services.
iv.
Presence of a well-trained team that values customer service and proper delivery.
v.
The company offers quality services that is highly valued by the customers and is
considered valuable for the clients’ money.
vi.
The company faces a possible high growth chances as it is located in an area with
high demand for medical courier services.
Weaknesses
The company is currently on a start-up level and therefore does not have the financial
capabilities to operate on the same ground as its multi-billion dollar competitors. This creates
a disadvantage since more customers go for well-established business with higher survival
rates.
Opportunities
i.
With the current technological advancements, the company will come across several
improvements for its services and high demand for special medical services
ii.
The courier business is improved by the availability of medical cover such as Patient
Protection and Affordable Care Act which increases the number of individuals in
seeking medical courier services.
iii.
Improved technologies also offer better delivery strategies by creating suitable
circumstances for delivery of delicate products and equipment.
Threats
7
MEDICAL COURIER BUSINESS PLAN
i.
With medical courier business on the rise, the main threat the company would face is
the arrival of other medical courier and delivery organizations which would increase
the competition level in the industry.
ii.
Economic turndown is also a threat that was experienced during the Covi-19
pandemic when economies shut down and affected business operations all over the
world.
Market Analysis
The pharmaceutical industry has been experiencing an increased demand for the past
few years, but with few organizations to meet the ever rising demands. The healthcare
industry has perishable cargo that need proper handling and fast transportation which require
internal temperatures of a certain stable range. This was the reason behind the creation of
medical courier and delivery services. Therefore because of the sensitivity of the nature of the
products in the healthcare industry, medical couriers have become extremely important in the
healthcare and pharmaceutical industry sector. With the increased demand for delicate and
perishable healthcare products within the pharmaceutical and healthcare industry sector, the
profit margin has received an expansion for the past five years.
With this market trend, an improvement is expected in the coming few years which
would result from the solid demand for the services offered in the industry. The annual
revenue growth that would be experienced in the market for the next few years starting 2019
would create a guarantee for the future expectations. However, with the growth comes
competition which will equally intensify in the future with more courier companies being
developed in new as well as already occupied markets. One of the companies that act as
significant competitors include FedEx, which continues pushing its way much deeper into the
healthcare transportation space.
8
MEDICAL COURIER BUSINESS PLAN
These trends are acting as an advantage for the company, and at the same time
promoting threats in the name of competition. The improvement of the industry means an
improvement of the competitors and therefore tightening the competition that would arise in
the market in the future. Therefore, as the growths keep arising, the company should, in the
next three years after its grace period, push itself deeper into the core of the industry and
establish stable business grounds for its operations.
Target market
Those in need of the services offered by the organization are players in healthcare,
pharmaceuticals, and laboratory sector of the industry. They therefore make up the target
market for the organization. With all these players in the field, the business is located in a
position where it gets to serve all its customers through the same effort (Flanagan, 2019).
Through the market research conducted in the study of the market, several clients were
identified for the courier and delivery company, inclusive of:
o Hospitals
o Health centers
o Pharmaceuticals
o Laboratories
o Organ banks
o Sperm banks
o Blood banks
Sales and Marketing
The organization aims at attracting and maximizing profits through its services, and it
therefore does what is required to offer quality services to a diverse group of customers
throughout the United States. The company therefore acquires revenue by offering the
9
MEDICAL COURIER BUSINESS PLAN
services listed in the list of services. The services provided are made available and promoted
through the different marketing strategies used by the organization. The company mainly
values advertisements through media and billboards. It makes its services known by
organizations in need and reaches a diverse market by simply covering all its target customers
and possible market grounds.
Sales Forecast
The organization, throughout the period it has operated has experienced a growing
number of customers. The organization is well situation to take on all the customers that it
may attract throughout the years of its operations. The company has a set income target
within its three years of grace period which would determine whether or not it stays in
business. With that, the company’s seven months of operations has been identified as a
success, whereby it has been experiencing a steady growth and improvement as compared to
when it first started operating. It has been growing in the market and attracting high value
customers from local as well as inter-state locations. The organizations operations has spread
all over California and reached other well established states with wide market possibilities
and clientele.
Based on the company’s past operations in the medical courier and delivery services
industry, a sales forecast has been developed to track and assess the company’s performance.
However, since the company has only operated for seven months, the sales forecast for the
first fiscal year has been established with reference to the period in which it has been in
business. A better sales forecast would be established at the end of a one year period to better
tract its performance and determine its success rate in the newly acquired markets.
First Fiscal Year (FY1): $180,000
10
MEDICAL COURIER BUSINESS PLAN
So far, the organization’s performance, with regards to the fact that it is a start-up
organization can be identified as a success, with it supposing its estimated growth by 10%.
Additionally, since the sales forecast has been conducted after only seven months of
operations, at the end of the one year period, the organization would have surpassed its
estimation by approximately 25%. The project was established based on the obtainable
components in the industry, and an assumption that there would not be a meltdown in the
economy for the estimated three years of trial.
11
MEDICAL COURIER BUSINESS PLAN
References
Flanagan, M. (2019, March 19). How to start a medical pick-up and delivery service. Small
Business – Chron.com. https://smallbusiness.chron.com/start-medical-pick-updelivery-service-18825.html
Red Line Courier Service. (2019, August 7). Medical courier service | Trained medical
couriers | Medical delivery 24/7.
Redlinecourier. https://www.redlinecourier.com/services/medical-courier-services/
UBT Pro. (n.d.). Medicine international courier services from India | Door to door delivery.
International Courier India – Compare Charges | 70%
OFF. https://ubtpro.in/medicine-courier-service.php
12
MEDICAL COURIER BUSINESS PLAN
1
Outline
Introduction
People are in need of courier and delivery services all over the world, either for emergency
services or for conditions where one cannot buy the medicine or get required equipment
themselves.
Body
Organizational Structure
Following the organization’s mission and vision statements, the organization will put in place
the right structure that will enable its growth in the future.
SWOT Analysis
The organizations was started after a detailed business research and a detailed analysis of the
location in which it was based.
Market Analysis
The pharmaceutical industry has been experiencing an increased demand for the past few
years, but with few organizations to meet the ever rising demands.
Conclusion
So far, the organization’s performance, with regards to the fact that it is a start-up
organization can be identified as a success, with it supposing its estimated growth by 10%.
Additionally, since the sales forecast has been conducted after only seven months of
operations, at the end of the one year period, the organization would have surpassed its
estimation by approximately 25%.
1
Running head: MEDICAL COURIER BUSINESS PLAN
Medical Courier Business Plan
Course title
Student name
Institution affiliation
Date
2
MEDICAL COURIER BUSINESS PLAN
Medical Courier Plan
Business Overview
People are in need of courier and delivery services all over the world, either for
emergency services or for conditions where one cannot buy the medicine or get required
equipment themselves. This business idea was encouraged by the desire to meet all the needs
of patients and healthcare facilities all through ensuring faster delivery of require equipment
and medical-based items. It is an international courier company based in Alabama. The
organization operates both within and outside is base and its operations are done either via
delivery trucks or aeroplanes, all which is dependent on the distance and location of delivery.
The medical delivery business will focus on the delivery of equipment to patients and
healthcare providers as well as specific specimen to laboratories for testing purposes. It will
also take part in carrying donor organs and recipient patients to hospitals. The organization is
unique because of its specialized delivery features such as speed, security, safety, tracking,
and specialized and personalized services. It will provide mainly metropolitan and local
deliveries due to lack of enough resources. It will deal with participants from healthcare and
pharmaceutical sectors. The organization’s goal would be to become among the leading
medial courier companies in the industry, and ensure that all the deliveries made compete
with the best in the courier delivery industry. The company values its customers and will
therefore go an extra mile to satisfy their every need.
Products and Services
The organization is involved in the medical courier and deliver services with the aim
of gaining profit. The organization is positioned in a way that it would favourably compete in
the courier and delivery industry and market availability. Within the policies and laws
3
MEDICAL COURIER BUSINESS PLAN
permitted by the government, the organization will perform several services to meet its
business goal. The services offered by the organization include;
•
Delivery of medical instruments to both patients and healthcare organizations.
•
Delivery of specimen to laboratories for purposes of testing
•
Carrying donors and recipients to hospitals
•
Offering air and surface medical courier delivery services
•
Delivery of personal prescriptions in collaboration with healthcare organizations and
pharmacies.
Mission and vision statement
The mission of the organization is to become one of the best courier companies with
active operations all over the United States, and grow to into an inter-continental based
organization well known for its quality services. Beginning its operations on an inter-state
level, the organization has the goal of growing into the leading international medical courier
company. This would assist in improving the poor medical services experienced all over the
globe.
The mission is to found a standard courier and delivery organization that will make
available diverse services within the medical courier and delivery industry, and do so at an
affordable rate within and outside its base. While serving a diverse group of customers, the
organization’s delivery prices with change to meet the nature of its market and customers,
thereby accommodation all its customers.
Organizational Structure
Following the organization’s mission and vision statements, the organization will put
in place the right structure that will enable its growth in the future. The organization would
4
MEDICAL COURIER BUSINESS PLAN
implement a good business structure and hire only qualified and customer centered workers
who were ready to operate to their best level. The business structure chosen by the
organization would build a prosperous business that would benefit all its stakeholders. The
organization’s for-profit structure would be used in an arrangement that would be made
available for the entire staff in a profit sharing manner. The organization will avail several
positions that would be filled by qualified and capable personnel. The structure of the
organization would be built from its personnel and from the organization’s operations which
would be a success upon hiring qualified and well suited personnel. This would incorporate;
o Chief Executive Officer (CEO)
o Administration and Human Resources management position
o Sales and marketing management position
o Accounting position
o Transport and Logistics management position
o Customer Services Executive
o Dispatch Riders
However, as the organization continues growing, more and more positions will come
up to fill and meet the needs of the growing organization. Therefore with growth, the
organization would improve its operations and hence improve its revenue to cover all the
acquired responsibilities. While currently operating at an inter-state standard, the
organization’s size is basically small. However, with its growth, the organization looks
forward to acquiring and developing other smaller facilities that would improve the delivery
services and ensure quality of products being delivered. Among the facilities would be an air
transport company which would be basically meant for carrying company cargo and
transporting patients to healthcare facilities, as well as moving organs from one facility to the
next.
5
MEDICAL COURIER BUSINESS PLAN
SWOT Analysis
The organizations was started after a detailed business research and a detailed analysis
of the location in which it was based. However with the research, the business was given a
grace period of three years where its performance would be assessed as a decision made on
whether it put more assets into the organization and expand the business or dissolve the
organization’s existence completely. Since there are several medical courier and delivery
companies in the United States, the progress of the organization from its implementation
would be assessed to bring an understanding to the organization’s progress and operations, as
it is done in all start-up businesses. Among the research conducted is a SWOT analysis
which was aimed at understanding positive and negative sides of the company at its start-up
and throughout its existence. The analysis would assist in improving the position of the
organization.
The SWOT analysis was conducted by the organization’s Human Resources
management and a group of expert business analysts. They also assisted in creating an
operative business model that would help the business in achieving its goals and short and
long term objectives. The SWOT analysis identified the strengths, weaknesses, opportunities
and threats the company would face in the business environment.
Strengths
i.
The business was located in a strategic location with less competition and more of its
target customers
ii.
The company established an easy payment mode for its customers and this is aimed at
easing the transactions.
6
MEDICAL COURIER BUSINESS PLAN
iii.
The company has a wide range of effecting dispatch team, equipped with vans and
bikes for fast local deliveries, and an association with an aircraft company for interstate courier services.
iv.
Presence of a well-trained team that values customer service and proper delivery.
v.
The company offers quality services that is highly valued by the customers and is
considered valuable for the clients’ money.
vi.
The company faces a possible high growth chances as it is located in an area with
high demand for medical courier services.
Weaknesses
The company is currently on a start-up level and therefore does not have the financial
capabilities to operate on the same ground as its multi-billion dollar competitors. This creates
a disadvantage since more customers go for well-established business with higher survival
rates.
Opportunities
i.
With the current technological advancements, the company will come across several
improvements for its services and high demand for special medical services
ii.
The courier business is improved by the availability of medical cover such as Patient
Protection and Affordable Care Act which increases the number of individuals in
seeking medical courier services.
iii.
Improved technologies also offer better delivery strategies by creating suitable
circumstances for delivery of delicate products and equipment.
Threats
7
MEDICAL COURIER BUSINESS PLAN
i.
With medical courier business on the rise, the main threat the company would face is
the arrival of other medical courier and delivery organizations which would increase
the competition level in the industry.
ii.
Economic turndown is also a threat that was experienced during the Covi-19
pandemic when economies shut down and affected business operations all over the
world.
Market Analysis
The pharmaceutical industry has been experiencing an increased demand for the past
few years, but with few organizations to meet the ever rising demands. The healthcare
industry has perishable cargo that need proper handling and fast transportation which require
internal temperatures of a certain stable range. This was the reason behind the creation of
medical courier and delivery services. Therefore because of the sensitivity of the nature of the
products in the healthcare industry, medical couriers have become extremely important in the
healthcare and pharmaceutical industry sector. With the increased demand for delicate and
perishable healthcare products within the pharmaceutical and healthcare industry sector, the
profit margin has received an expansion for the past five years.
With this market trend, an improvement is expected in the coming few years which
would result from the solid demand for the services offered in the industry. The annual
revenue growth that would be experienced in the market for the next few years starting 2019
would create a guarantee for the future expectations. However, with the growth comes
competition which will equally intensify in the future with more courier companies being
developed in new as well as already occupied markets. One of the companies that act as
significant competitors include FedEx, which continues pushing its way much deeper into the
healthcare transportation space.
8
MEDICAL COURIER BUSINESS PLAN
These trends are acting as an advantage for the company, and at the same time
promoting threats in the name of competition. The improvement of the industry means an
improvement of the competitors and therefore tightening the competition that would arise in
the market in the future. Therefore, as the growths keep arising, the company should, in the
next three years after its grace period, push itself deeper into the core of the industry and
establish stable business grounds for its operations.
Target market
Those in need of the services offered by the organization are players in healthcare,
pharmaceuticals, and laboratory sector of the industry. They therefore make up the target
market for the organization. With all these players in the field, the business is located in a
position where it gets to serve all its customers through the same effort (Flanagan, 2019).
Through the market research conducted in the study of the market, several clients were
identified for the courier and delivery company, inclusive of:
o Hospitals
o Health centers
o Pharmaceuticals
o Laboratories
o Organ banks
o Sperm banks
o Blood banks
Sales and Marketing
The organization aims at attracting and maximizing profits through its services, and it
therefore does what is required to offer quality services to a diverse group of customers
throughout the United States. The company therefore acquires revenue by offering the
9
MEDICAL COURIER BUSINESS PLAN
services listed in the list of services. The services provided are made available and promoted
through the different marketing strategies used by the organization. The company mainly
values advertisements through media and billboards. It makes its services known by
organizations in need and reaches a diverse market by simply covering all its target customers
and possible market grounds.
Sales Forecast
The organization, throughout the period it has operated has experienced a growing
number of customers. The organization is well situation to take on all the customers that it
may attract throughout the years of its operations. The company has a set income target
within its three years of grace period which would determine whether or not it stays in
business. With that, the company’s seven months of operations has been identified as a
success, whereby it has been experiencing a steady growth and improvement as compared to
when it first started operating. It has been growing in the market and attracting high value
customers from local as well as inter-state locations. The organizations operations has spread
all over California and reached other well established states with wide market possibilities
and clientele.
Based on the company’s past operations in the medical courier and delivery services
industry, a sales forecast has been developed to track and assess the company’s performance.
However, since the company has only operated for seven months, the sales forecast for the
first fiscal year has been established with reference to the period in which it has been in
business. A better sales forecast would be established at the end of a one year period to better
tract its performance and determine its success rate in the newly acquired markets.
First Fiscal Year (FY1): $180,000
10
MEDICAL COURIER BUSINESS PLAN
So far, the organization’s performance, with regards to the fact that it is a start-up
organization can be identified as a success, with it supposing its estimated growth by 10%.
Additionally, since the sales forecast has been conducted after only seven months of
operations, at the end of the one year period, the organization would have surpassed its
estimation by approximately 25%. The project was established based on the obtainable
components in the industry, and an assumption that there would not be a meltdown in the
economy for the estimated three years of trial.
11
MEDICAL COURIER BUSINESS PLAN
References
Flanagan, M. (2019, March 19). How to start a medical pick-up and delivery service. Small
Business – Chron.com. https://smallbusiness.chron.com/start-medical-pick-updelivery-service-18825.html
Red Line Courier Service. (2019, August 7). Medical courier service | Trained medical
couriers | Medical delivery 24/7.
Redlinecourier. https://www.redlinecourier.com/services/medical-courier-services/
UBT Pro. (n.d.). Medicine international courier services from India | Door to door delivery.
International Courier India – Compare Charges | 70%
OFF. https://ubtpro.in/medicine-courier-service.php
12
MEDICAL COURIER BUSINESS PLAN

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