Profit maximization implies a balanced revenue to expenses approach, particularly since the premium pricing strategy implies better quality equipment and high-paid doctors.
How do we get there?
There are several essential areas that need to be supported in order to reach the proposed objectives described in the previous paragraph. The most essential component is the medical staff. As described in the previous parts of this plan, the medical staff will include prestigious physicians, specialized in assisted reproductions, particularly endocrinologists and embryologists. They will be paid both with a high salary with benefits and with a participation in the organization's profits.
The second essential component is the state-of-the-art technology and equipment: one of the competitive advantages is that the clinic uses some of the best existing equipment available, which should obviously increases the chances of the fertility treatment. These two components should be backed by a marketing and communication campaign that will emphasize all these advantages..
How do we measure our progress?
We will measure progress with indicators such as annual revenues and net profit (on the financial side) and number of customers, number of new clinics opened (on the business and market side). It is important to note that progress will also be compared to other fertility clinics on the market: this will help understand whether progress and downturn is individual or is associated with a particular event.
Best practices
There are several ways in which best practices will be addressed. There are at least two important aspects: one is to protect the organization from any liability issues; the second is to ensure the maximization of service...
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