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Developing an effective business plan.

Nursing Economic$

|May 1, 1990

Summary

Nurses must develop business planning skills to manage healthcare costs effectively. This guide provides a framework for creating successful business plans for new and expanding nursing services.

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Area of Science:

Healthcare Administration
Nursing Management

Background:

The healthcare industry's increasing cost-consciousness necessitates that nurses adopt business management skills.
Effective business planning is a critical skill for nurses in today's healthcare environment.

Purpose of the Study:

To present a framework for developing effective business plans for nursing services.
To guide nurses in creating business plans for both new service initiation and expansion of current programs.

Main Methods:

The article outlines a structured approach to business plan development.
Key components of a successful nursing service business plan are described.

Main Results:

A comprehensive framework is provided for creating nursing service business plans.
The framework addresses the needs of both new ventures and program expansions.

Conclusions:

Developing strong business planning skills empowers nurses to contribute to healthcare cost management.
The proposed framework facilitates the successful launch and growth of nursing services.

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