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Physician Care Services

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Physician Care Services

Category: Essay

Subcategory: Health

Level: College

Pages: 3

Words: 825

Physician Care Services
NameInstitutional affiliation
Government regulations is an operational issue facing Physician Care Services, Inc. These are the rules and guidelines put in place by the authority to regulate business activities. The government has laws in place to ensure the security of customer data and also declare the minimum wage increase in business operations. Consequently, Physician Care Services, Inc in their endeavor to extend services to the City of Jasper has to consider various government regulations that are in place. To facilitate smooth running of its operations, the firm has to ensure compliance with the government regulations (Khan, 2015).
Physician Care Services, Inc is also faced with an operational issue of growing revenue. A business has to generate profits for it to remain a going concern and Physician Care Services; Inc is no exception. This could be the case since its expansion into the City of Jasper could require extra resources. As a result, the incorporation could be forced to borrow funds from credit institutions. The firm could be faced with difficulty in convincing lending institutions to lend it funds.
Another operational issue is facing Physician Care Services; Inc is that of balancing quality and growth. An organization, in an attempt to scale, may have to drop a product or service. Consequently, this practice may affect client relationship. The management should endeavor to adopt an approach that will allow the incorporation to scale without hurting the brand.
A financial issue that may face Physician Care Services, Inc is that of over expansion. Organizations are prone to expand operations into areas that are a weakness rather than strength. The subsequent poor decisions often result to financial distress leaving the organization with significant debts to repay. It could also force shareholders to sell their stock to offset the loan.
Physician Care Services, Inc. could also be faced with cash flow problem, a financial issue. The state of a company’s books of accounts could be contrary to what the company in actually experiencing in its operations. An organization could be faring well on paper while its accounts receivables are running short on cash. Therefore, it is critical for the organization to decide on a prudent way to encourage clients and customers to pay for the business to thrive in the long run.
Lastly, economic cycles could be a financial issue that may face Physician Care Services, Inc. A business is affected by business cycles that range from peak through to recession. Business cycles may affect specific industries in an economy. In other times, they create problems that are felt by all businesses in an economy. As such, the organization in its expansion to the city of Jasper should consider economic cycles to ensure it remains profitable into the foreseeable future.
In an attempt to avoid cash flow problems, Physician Care Services, Inc., should ensure that certain objectives and goals are in place. It should develop prudent methods of collection, clearly outlining payment expectations that should be in written form. Moreover, the business should evaluate credit history of their clients to minimize doubtful and bad debts.
It would also be prudent for the organization to obtain insurance cover. There are cases when an organization could be faced with legal suits. It could be the case when it has willingly or unwillingly violated set government regulations. In such instances where legal challenges are bound to occur the business could obtain a professional liability insurance that acts as a cover.
The incorporation could also mitigate against unfavorable economic cycles. It could plan for instabilities through the development of financial reserves. In cases of extreme economic activities, the incorporation could scale down on some of its operations. The reduction on its activities could be instituted amidst also borrowing financial aid from its more established branch with operations in the city limits of Middleboro (Khan, 2015).
The incorporation could also set goals and objectives to mitigate against undercapitalization. It is the case when a firm experiences exponential growth while profits fail to match the growth. Its expansion into the city of Jasper could be from an exponential growth unmatched by profits. Physician Care Services, Inc should include contingency measures in the business plan.
An investor to bail out the firm in cases of undercapitalization could also be ideal. He or she could be an individual or entity willing to inject large sums of money into the business thus bail it from financial distress. The organization could also obtain credit from the bank besides raising prices of its services that will mostly be felt by its clients (Orsino, 1994).
The pertinent issue of growing revenue could be addressed through cutting on the expenses in its attempt to expand operations to the City of Jasper. It would be in the best interest of the incorporation to review expenses periodically. Physician Care Services, Inc should maintain an average sum of all expenses as well as common expenses. The incorporation should also purpose to shop for cheaper vendors of utility items within the City of Jasper (Nieuwenhuizen & Erasmus, 2007)
In summary, the management team of Physician Care Services, Inc should weigh the benefits and costs of expanding operations into the City of Jasper. It should also be accompanied by the identification of various operational and financial issues. The latter should be addressed with a list of goals and objectives. Therefore, the expansion of services to the City of Jasper should be deliberated on by key stakeholders careful not to miss on opportunities while as considering perceived costs of the move.
References
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Khan, M. A. (2015). Diverse contemporary issues facing business management education.
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Nieuwenhuizen, C., & Erasmus, B. (2007). Business management for entrepreneurs. Cape
Town: Juta.
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Orsino, P. S. (1994). Successful business expansion: Practical strategies for planning profitable
growth. New York: J. Wiley.
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