Major aspects of the new hospital planning phase include:
- Strategic Planning: Understanding the organizational philosophy and the short-term and long-term goals to be achieved by the new hospital development project.
- Target Market Analysis: Evaluation of the target population (catchment areas of the hospital); evaluation of the availability of various service offered by other hospitals in the proposed catchment area; Evaluation of the local healthcare provider market in terms of workforce availability (especially of the medical staff) and skills (assessment of proficiency, efficiency and productivity of available workforce); understanding the various governmental rules with impact on the projected hospital operations.
- Location Valuation: Gathering of information regarding the site or possible sites for development of the projected hospital to identify the limits and opportunities offered by a site.
- Strategic Planning of Service Offering (Physician Profiles, Medical Specialties): Short-list the medical specialty mix appropriate for the proposed hospital.
- Projected Utilization: Estimation of the utilization of the projected hospital and healthcare services.
- Estimation of Hospital Investments and Operating Expenses: Estimation of the required capital and operating expenses.
- Revenue Forecasting: Estimation of the compensation paid to the hospital and the healthcare professionals.
- Business Plan: Project valuation (estimation of the profitability of the various procedures and services) and recommendations.
- Master Plan: Provision of essential information regarding the expandability and flexibility requirements of the projected facility.