Business Planning Considerations for a Healthcare Simulation Center

Abstract

The demand for simulation-based healthcare education programs is increasing in response to regulatory, professional, and public interest pressures to optimize safety and efficiency in both medical education and healthcare delivery. Physicians and others involved in the development and operation of these programs will need to apply business planning and management skills to justify the investment of scarce financial, facility, and personnel resources for this purpose. Business planning begins with the development of a mission statement that identifies the purpose, goals, and target market of the proposed simulation entity. Financial analysis and projections follow from the mission of the center and are used to provide quantitative and qualitative estimates of the value of the project. Key stakeholders and investors use this as justification to go forward with the project. A project management team comprised of clinical, administrative, and technical advisors then works with business planners to determine the facility requirements and manage the project from conception through design, construction, implementation, and monitoring of ongoing operations.