Hcs 589 week 4 financial plan 140530
The organization’s current business model is focused on providing specialized services related to healthcare quality improvement, and promoting the implementation of evidence-based practices. Fees for consulting and grants from federal and state agencies are the main sources of revenue. The financial adjustments that I made were to allocate more resources for marketing, in order raise awareness about the offered services. Also, I reinvested a portion of my profits into the organization for long-term growth initiatives such expanding the service offering or buying additional technology.
The organization’s internal financial capabilities have had an impact on my financial plan by constraining certain decisions that could otherwise be taken if capital was not limited. For example, while many investments involve upfront costs and generate lower returns over the long-term, having greater access to resources could allow us to take more risks and to make investments that will ultimately reap higher rewards. Implementation will be affected by these limitations as it may take longer to obtain the necessary funds before we are able to start programs and projects.