Laboratory Business Plan- 3rd Sem

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This report is on Preliminary business plan of Pathological Laboratory.

Transcript of Laboratory Business Plan- 3rd Sem

An Business Plan on

Entrepreneurship Management Sahyog Pathological Laboratory Submitted To:

Submitted By: Group No. : 11 MBA-3rd SEM (CORE) Class: MBA CORE 4B

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Group MembersS.N. 1 2 3 4 5 6 Name Sameer Narang Sarthak Palkar Shailesh Firke Shalaka Rane Sheetal Katkade Siddharth Singh Roll No. 130 134 135 136 138 149

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TABLE OF CONTENT

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SR. NO1 2 2.1 2.2 2.3 2.4 2.5 2.6 3 4 4.1 4.2 5 6 6.1 6.2 6.3 6.4 6.5 6.6 6.7 7 7.1 7.2 7.3 7.4 7.5 7.6 8 8.1 8.2 8.3 8.4 8.5 9 9.1 9.2 9.3 9.4

TOPICExecutive Summery The Company Genesis Mission Statement Business Objective, Market and Service Offerings Customer Pain Point Proprietary Technology Value Proposition The Team Certification NABL Certification Accreditation Process Operational Plan Marketing Plan Market Analysis Summary Market Research Market Segmentation Target Market Segment Strategy Service Business Analysis Competition and Buying Patterns Roll-Out Plan Strategic Plan Strategy and Implementation Summary Competitive Strategy Marketing Strategy Key Success Factors Future Service Risk Management Financial Plan Partnership Incorporation Details Profit Projection Utilization of Fund Break Even Analysis Financial Assumptions Appendices Certificate Lab Layout Profit and Loss Statement for 3 Years Balance Sheet for 3 Years

PAGE NO.1 2 2 2 3 4 5 6 8 10 13 14 14 14 15 16 16 16 17 17 17 18 19 19 20 21 22 23 24 25 26 27 30

Laboratory Business Plan4

Sahyog Pathological Laboratories (SPL)1. Executive Summary:Pathological Laboratories today can expand and diversify as never before beyond their traditional services. Advancing technologies continuously produce new tests not only for the sick but also for the healthy and asymptomatic. Some of the multiple opportunities now open to Pathological labs include testing for government, community, school, and industry; reference testing and consulting for other laboratories; and running testing clinics at shopping malls. Sahyog Pathological laboratory will be a start-up company committed to providing the most convenient, friendliest blood testing service to the physicians and the people of the Kolad (Dist. Raigad). Sahyog Pathological laboratories will focus on quality management, reference systems, in vitro diagnostic testing (like ELISA Test), and antimicrobial susceptibility testing. The main fields range from laboratory measurement of quantities in samples of biological origin, testing the susceptibility of antimicrobial agents against bacteria involved in infectious disease, quality, competence, safety in the laboratory, and testing at the point-of-care. Benefits already realized through the technical committees work include the availability of standards for medical laboratories for implementing quality management systems based on the standards defined by National Accreditation Board for Testing and Calibration Laboratories (NABL) and The Bureau of Indian Standards (BIS). The new standards will intend to promote a common approach to the quality management of medical laboratories and to all aspects of operation, from identification to the collection to examination of clinical samples.

2. The Company5

1. Genesis: Sahyog Pathological Laboratory will be formed and registered in Kolad (Dist. Raigadh), Maharashtra. Sahyog Pathological Laboratory will be a Partnership Entity owned by six members. Sahyog Pathological Laboratory will own an Area in Kolad to build its own Central Laboratory, which will be at the centre of the Raigad district. There currently is no laboratory within the nearby areas of Kolad, and doctors are forced to send their patients across villages to have blood drawn and analyzed. And this shows us the way to generate an idea of opening the Sahyog Pathological Laboratory in Kolad, which is at equidistance from most of the nearby villages. 2. Mission Statement: It is SPL' mission to serve local physicians with fast, accurate, private, reasonably priced blood testing services. SPL exists to exceed all of their customer's expectations. 3. Business Objectives, Market and Services Offerings: 3.1: Objectives SPL has established three significant objectives to pursue. The first is securing 80% of the physicians in the Mangaon, Roha, Khalapur and Pen building as customers. The second objective is to develop 20% of revenue from physicians who practice in the nearby vicinity. The third objective is the desire to reach profitability with 12 months. This is especially important since SPL will be using own investments by the partners would like to see a positive ROI fairly soon. 3.2: Market SPL has identified four market segments to serve. First is the large number of physicians that are practicing in the Mangaon, Roha, Khalapur and Pen. Second are the Hospitals where SPL will lease space for sample collection centers.

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The third group is direct customers who will be coming to main lab for testing. The fourth are Insurance companies requiring medical checkups for policy holders. 3.3: Services SPL offers a comprehensive battery of blood tests for physician's patients. Several tests will be done in-house including: CBC- A complete test of red blood cell count, white blood count and a platelet count. Each of these three can be ordered individually if needed. Blood sugar test- Frequently requested for diabetics or possible diabetics. Electrolyte testing- For patients who are on diuretics and there is concern that they may be losing too many of their electrolytes. Creatine- Often used to check kidney functioning or to determine if there is heart or kidney problems. Other types of blood analysis can be done with the specimen sent to a central lab for testing. 4. Customers Pain Point: Currently, when the doctors need blood work done, they have to send their patients to an off-site laboratory, which is far from the doctor's office and outside the village. The patient needs to travel long distance for the blood test to be done. And in some critical cases it is not possible for the patient to travel such a long distance and thus at least the facility for the blood collection should be provided in the hospitals of villages. Also the availability of trained professionals for blood collection at Hospitals is a major issue of concern. Thus to overcome this we have planned to open our laboratories in the central location i.e. Kolad, which is at equidistance from most of the villages and Talukas. The convenient central location of our laboratory will reduce the time and risk of customers. Also we have planned to lease the collection centers at hospitals of our target villages so that patients with critical conditions need not to visit our central laboratory for the blood sample collection. There are only few Pathology Laboratories in Raigadh District and that too with less or no advancements. Also it takes four to five days to send the reports of the testing to the desired location. In serious cases getting the7

report on time is very much crucial and delay of four to five days could be danger for the patient. Thus it is required that testing report should be sent to the doctors within 24-48 hours so that preventive measures could be taken by the doctors on time. 5. Proprietary Technology: Sahyog Pathological Laboratories will be equipped with most advance technological instruments and techniques for the rapid and accurate testing and for quick report generation system. Some of the advance equipments required for Sahyog Medical Laboratories as the start up of the business is listed below: Distilling Water Still Furnaces Heating Mantle Hot Air Ovens Hot Air Sterilizers Hot Plate Humidity Cabinet Incubators Laboratory Balances Laminar Air Flow Magnetic Stirrer Rotator Shaker Vortex Mixer Water Bath Research Microscope Diagnostic Sets Elisa Kits Laryngoscopes , Oto-opthalmoscope set Otoscopes Proctoscopes Sphygmomanometers Stethoscopes etc.

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6. Value Proposition: Value Proposition Features of Sahyog Pathological Laboratory includes: NABL and BIS certifications. Convenience (blood can be drawn within the same building), Faster service (there is no driving or transportation time to get the blood drawn), Comparatively less and affordable pricing for testing. The most commonly requested tests and analysis occurs at central laboratory guaranteeing results within 24 hours.

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3. THE TEAMShailesh Firke (C. E. O.) aged 24 years, has completed his pharmacy form Mumbai University. He was working with Tata Consultancy services for Roche pharmaceuticals in clinical Trials. He has also completed his summer training from Pfizer and samarth pharmaceuticals. (MR) as a Trainee. He has also completed DMLT from Mumbai University and currently pursuing MBA in Marketing from. Siddharth Singh, (Operational Manager) age 24 years, has mastered in Biotechnology from Bangalore University. He had prior experience of two years as a micro biologist in Reliable Analytical Laboratory. He is currently pursuing his MBA in specialization in Marketing from. He has also done his summer training from CEAT Tyres Ltd. Sarthak Palkar, (Business Development officer) age 22 years. He has graduated in Bachelors of Science (specialization in Biotechnology) from Pillais College; New Panvel. He has worked as a Financial Advisor in Bajaj Alliance Insurance Company in the year 2007-08. He is currently pursuing its MBA, specialization in Marketing from. He has done his summer training from Bajaj Alliance, Panvel. Sameer Narang, (Marketing Manager) 23 years old, has done his graduation in Bachelors of commerce from Mumbai University. He has worked as an executive in Max New York Life Insurance Ltd. Currently pursuing its MBA in Marketing. He has done his summer internship in Max New York Life Insurance Ltd.

Shalaka Rane (Finance Head ), 23 years old, she has done her graduation in Bac