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Related Experiment Videos

Venture profile analysis.

R F Murphy

    Hospital & Health Services Administration
    |October 7, 1985
    PubMed
    Summary
    This summary is machine-generated.

    Hospitals can use venture profile analysis to identify successful diversification strategies. This low-cost method aids in strategic planning and risk management for new revenue streams.

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    Area of Science:

    • Healthcare Management
    • Strategic Planning
    • Business Development

    Background:

    • Financial pressures from inpatient revenue restrictions necessitate hospital diversification.
    • Hospitals require systematic approaches to explore new revenue streams.
    • Strategic planning is crucial for navigating market-based healthcare environments.

    Purpose of the Study:

    • To introduce venture profile analysis as a tool for hospital service diversification.
    • To provide a structured method for evaluating potential business ventures.
    • To support hospital boards in strategic decision-making and risk management.

    Main Methods:

    • Developed a venture profile analysis framework.
    • Defined nine weighted evaluation criteria for assessing business ventures.

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  • Scored potential ventures based on these criteria.

    • Main Results:

    • Venture profile analysis offers a low-cost, orderly process for diversification planning.
    • Higher weighted scores indicate greater prospects for venture success.
    • The analysis facilitates informed decision-making by hospital boards.

    Conclusions:

    • Venture profile analysis is an effective tool for hospitals seeking diversification.
    • It promotes prudent risk management and strategic market-based planning.
    • Involving board members enhances the decision-making process for new ventures.