The global healthcare industry is growing at a stable, if unspectacular rate, and is expected to earn revenues of over $1.8 trillion this year.
The Indian healthcare industry has turned into one of the country’s largest sectors in terms of both revenue, and employment. The industry has grown at a rapid pace and is expected to be worth over $350 billion in the next few years.
Any new business setup or an existing organization requires a strong business plan to succeed and survive. Marketing, strategizing and positioning are important aspects of a business plan, but do those aspects matter when there isn’t a good display of some figures and forecasts to understand the company’s current stand and where it’s headed? If your set-up is new, you will most likely have an academic approach to your business plan and if it is undergoing an expansion, you will probably have a more practical approach. But it is the long-term approach of planning your finances within this business plan that will determine its success and tackle any potential barriers. Financial planning is what ensures whether a plan is viable or not.