Specialty hospitals, specifically heart and vascular specialty hospitals, have been developed world wide. CFA has participated in several international endeavors designed to test the overall project feasibility and to perform comprehensive business planning for new heart and vascular hospitals outside of the U.S. The planning process that is employed is similar to one that would take place within the U.S., with additional local/regional considerations integrated into the process, including:
- Language barriers
- Local business practices and methodologies
- Local market assessment
- Target market analysis (population and demographics)
- Local and regional competitor analysis
- Regulatory and legal analysis (national, regional, local)
- Capitalization and financial requirements
- Cultural and sociological analysis
- Health system interface and referral patterns
- Payer system interface
- Clinical analysis (e.g., comparison of existing local and regional medical practices and technology to international best practices and standards)
- Financial analysis (costs, reimbursement, construction, pay scales, etc.)
- Other factors (e.g., medical tourism potential)
Feasibility assessment-encompassing strategic, operational, clinical, financial and political components-must be followed by comprehensive business and development planning to assure a successful outcome for projects of this magnitude.