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Aims and Objectives

“Helping hand for autistic care”, a health care institute for caring the children suffering from autism in UK is planning to start their facilities in 2018  Their main objective is to provide all the necessary requirements to the autistic children to assist them to lead a normal life to the extent possible. Their target is to create, promote and create a positive attitude towards their patients and their families, employees, executives and the society. The growth aspect for autism services in UK are increasing at a faster pace as par the survey report of last 3 years. The business is planning to make an agreement with the national insurance service, so that the patients can directly get benefit who will be insured under the insurance company (Kay and Green 2016).

The primary objectives of the business are:

  • Correspond with the best available psychiatrists from UK to provide services to autistic children
  • Obtaining funds for preliminary requirement
  • Obtaining list of Medicaid provider
  • Communicate with other institutions that offers services to autistic patients

At present, the services to autistic children are growing fast due to competitive market for autism care services.  There are approximately 700000 patients on the under the autism scale in UK, that means it is more that 1 out of 100. Further, if the family members are to be included, over 2.8 million people daily life is affected by autism.  Helping hand for autistic care has recognized various autistic care centre’s in UK who are carrying on their business very well, they are: Ladbroke Grove autism Centre, Autism Care UK and Health Farm – Autism care (UK). Therefore, providing the customers with their unique requirements is the primary factor (Minhas et al. 2015).  

If “Helping hand for autistic care” is able to survive in future, the service will be provided aggressively. Within the focused region, “Helping hand for autistic care” is anticipated to cover 62% of the autistic children. Therefore, targeting and identifying the unique requirements of the patients and their families will be the primary source for the progress of the business.

As already noted, the progress in the autism care sectors for past three years is appreciable. It is expected that the progress rate will be achieved in future years too. Within the focused area, it is expected that. It will take approximately three to four days to get a sitting appointment with a child psychiatrist and seven to eight days for behavioral therapist.

To identify the competitors in the autistic care sector in United Kingdom, it is very crucial to recognize the needs and restructuring requirement of the patients and their families. They must provide the service that is identically different from the competitors to turn on the clients. Primarily there are three types of service facilities:

  • Psychiatric hospital
  • Service to outdoor patients
  • Solo practices

The major competitors of this service are from the patients under outdoor category. This group is further segregated as non-profit facilities, private facilities for earning profit and public facilities and includes practices for homogeneous group  as well as multidisciplinary group (Murray et al. 2014).

The services are offered to the children of age group between 3 years to 15 years. Some clients are like to opt for only one service at a time, while others most like to go for complete package.

Market Research

Potential Customers

Growth

Year 1

Year 2

Year 3

Year 4

Year 5

CAGR

Behavioural therapy

6%

6,784

6,893

8,374

7,896

8,248

8.98%

Social therapy

0%

4,911

5,184

6,282

6,282

6,282

11.58%

IOP

0%

1098

1138

1067

988

1159

3.42%

Full package

5%

0

0

2,000

2,000

2,000

0.00%

Total

13.56%

12,793

13,215

17,723

17,116

17,689

14.56%

Table 1: Market analysis

(Source: Created by author)

All their facilities are expected to be operated within the statutory requirement under the healthcare and social care sector. Regular audit for the performance is planned to be carried out for the range of services that will be provided.  Moreover, they are planning to use the principles for clinical governance through providing an environment in which the excellent clinical care is to be provided. Helping hand for autistic care is expected to follow strict corporate governance and has already developed a large extent of procedures to maintain the corporate governance and review it regularly. This is undertaken in association with a lawyer specialist in healthcare sector to review the benchmarking against the industry trends.  They will employ a dedicated HR team to handle the issues of employees and doctors. The HR team will be available24 hours round the clock to provide any kind of assistance to the needy. Further, they will employ a dedicated development and training team that will provide large extent of vocational, professional and mandatory training programs and learning opportunities for counseling and therapy related services. Moreover, they will provide an opportunity of further studies through pursuing the vocational and academic qualifications to the willing doctors and staffs (Paton et al. 2016).   

Various conventional as well as modern strategies will be used for the promotion of the business. The focus for the promotional approach will to make more people aware about autism, so that necessary steps can be taken at very beginning of the disease. The strategies are:

  • Creating a pamphlet, brochure, logo and visiting cards for the care centre
  • 24 hrs customer care team to resolve the queries of customers
  • Arranging informative  workshops for target clients
  • Participation in autism related activities related to provide the service in better way
  • Domestic patients: The domestic patients will be the autistic children from all over the UK
  • International patients: AS UK is quite good past records for treatment of autistic children, various patients from other countries are also expected to come for the treatment

The following initial cost has been estimated for potential financial feasibility and sustainability:

Particulars

Amount (£)

Cost of furniture

1400

Promotional cost

1000

Cost of equipments

1800

Electricity charges

1500

Rent

1500

Cost of doctors agreement

1400

Advance payments

1700

Requirement of cash

121000

Fixed assets

22000

Other current assets

5700

Total requirement

159,000

Table 2: Start-up Cost

(Source: Created by author)

Out of the total requirement of £159,000, amount of £90,000 will be raised from the investors in the form of equities and bonds and £ 49,000 will be raised through short-term as well as long-term bank loans. The balance amount of £20,000 is expected to be received as government grants, which is under process for approval. However, if the government grant is not approved within October 2017, they will have to find for another source for the balance amount (Clark et al. 2016). 

Particulars

Year 1

Year 2

Year 3

Sales

£              5,20,000.00

$             6,76,000.00

£            9,46,400.00

Cost of goods sold

£              3,12,000.00

£            3,92,080.00

£            5,20,520.00

Gross profit

£           2,08,000.00

£          2,83,920.00

£          4,25,880.00

Gross profit %

40%

42%

45%

Expenses

Wages and salaries

£                 68,000.00

£               82,000.00

£            1,06,178.00

Rent

£                 66,000.00

£               70,000.00

£               94,000.00

Promotional expenses

£                   6,200.00

£               10,500.00

£               11,100.00

Depreciation on assets

£                   7,000.00

£               22,000.00

£               44,000.00

Leased Equipment

£                   6,000.00

£                 7,000.00

£                 7,800.00

Insurance expenses

£                   7,000.00

£                 5,500.00

£                 3,200.00

Telephone charges

£                   1,700.00

£                 2,200.00

£                 2,900.00

Human Resource allowances

£                   2,000.00

£                 7,000.00

£                 9,000.00

Electricity charges

£                   4,200.00

£                 4,900.00

£                 5,400.00

   Legal Fees

$                   3,000.00

$                  2,500.00

$                  1,000.00

Office Supplies

£                   2,810.00

£                 3,260.00

£                 4,130.00

Visiting Psychiatrist's fees

£                   8,000.00

£               14,000.00

£               16,000.00

Total Operating Expenses

£           1,81,910.00

£          2,30,860.00

£          3,04,708.00

Profit before taxes

£              26,090.00

£             53,060.00

£          1,21,172.00

Taxes paid @ 30%

£                7,827.00

£            15,918.00

£            36,351.60

Net Profit after tax

£              18,263.00

£            37,142.00

£            84,820.40

Profit/loss percentage

3.51%

5.49%

8.96%

Table 3: Sales and profit forecast

(Source: Created by author)

Availability of doctors – the best doctors around the world who have great past records of handling the autistic patients will be available for consultation. It will enable the the families of patients to get confidence

Technology and machineries – the hospital will purchase some best available machineries and equipment that will enable the patients to get better treatment (Burns, McClimens and Parry, 2015).

Regulatory Factors- As there is a considerable growth in autistic children during the last 10 years, the government is taking active measures along with the hospitals that provide autistic treatment. Therefore, “helping hand for autistic care” is expected to get nice cooperation from the Federal Government (Anketell et al. 2016).

Conclusion:

It is concluded from the above facts that “Helping hand for autistic care” will take all the necessary care to take care for the autistic children. They will hire some experienced doctors from all over the world for their patients. Moreover, there will be round the clock customer care services for answering the query of the patients and their families. Along with the government, they will provide a helping hand towards the patients and their families, so that they feel themselves at comfortable position. Keeping in mind, the financial status of the families, “Helping hand for autistic care” would provide the best possible treatment with minimum cost. It can be identified from the sales forecast that the future growth possibility of the business is quite slow, however it is in upward movement and in next three years it is expected to grow their income from 3.91% to 8.96%. on the other side, total requirement of the company for initial start-up is estimated at $1,59,000 which will be raised from the investors, bank loans and government grants. Till date 55% of the total initial requirement has already been raised and the rest amount is expected to be raised till October 2017. However, from the projected cash flow statement, it is identified there is a gap between the projected cash flow and the actual cash flow. The company is, therefore, required to re-forecast its cash flow to have a more clear estimation and visibility so that the gap is minimized. Moreover, the company shall look out at the projected expenses from the cash flow statement and take proper measures to minimize their expenses and thereby minimize the gap between the projection and actual cash flow.

References:

Anketell, P.M., Saunders, K.J., Gallagher, S., Bailey, C. and Little, J.A., 2016. Profile of refractive errors in European Caucasian children with Autistic Spectrum Disorder; increased prevalence and magnitude of astigmatism. Ophthalmic and Physiological Optics, 36(4), pp.395-403.

Burns, S.L., McClimens, A. and Parry, G., 2015. Caring for people with autism spectrum disorder: Sarah Louise Burns and colleagues review the terminology associated with Asperger syndrome and autism, and changes in how the conditions are diagnosed. Learning Disability Practice, 18(5), pp.16-20.

Clark, A., Browne, S., Boardman, L., Hewitt, L. and Light, S., 2016. Implementing UK Autism policy & national institute for health and care excellence guidance?assessing the impact of Autism training for frontline staff in community learning disabilities teams. British Journal of Learning Disabilities, 44(2), pp.103-110.

Kay, C.L. and Green, J.M., 2016. Social cognitive deficits and biases in maltreated adolescents in UK out-of-home care: Relation to disinhibited attachment disorder and psychopathology. Development and psychopathology, 28(01), pp.73-83.

Minhas, A., Vajaratkar, V., Divan, G., Hamdani, S.U., Leadbitter, K., Taylor, C., Aldred, C., Tariq, A., Tariq, M., Cardoza, P. and Green, J., 2015. Parents’ perspectives on care of children with autistic spectrum disorder in South Asia–Views from Pakistan and India. International Review of Psychiatry, 27(3), pp.247-256.

Murray, M.L., Hsia, Y., Glaser, K., Simonoff, E., Murphy, D.G., Asherson, P.J., Eklund, H. and Wong, I.C., 2014. Pharmacological treatments prescribed to people with autism spectrum disorder (ASD) in primary health care. Psychopharmacology, 231(6), pp.1011-1021.

Paton, C., Bhatti, S., Purandare, K., Roy, A. and Barnes, T.R.E., 2016. Quality of prescribing of antipsychotic medication for people with intellectual disability under the care of UK mental health services: a cross-sectional audit of clinical practice. BMJ open, 6(12), p.e013116.

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