Medical Diagnostic Laboratory Business Plan In Nigeria Feasibility Study
1.0 EXECUTIVE SUMMARY of Medical Diagnostic Laboratory Business Plan In Nigeria Feasibility Study
The following reports and recommendation relate to the proposal of
Daystar Diagnostic Laboratory to establish a medical diagnostic
centre at Afikpo, Ebonyi state.
· The project would require a start-up capital of NX naira of which
NY naira is fixed and NZ naira is the working capital.
· The vision of the laboratory is to be the most outstanding,
qualified and reliable laboratory in Afikpo and within the state at
· The laboratory will be located at Mgbom, Afikpo because of good road
network, free land availability and its nearness to a hospital without
a laboratory that will form alliance with the laboratory.
· A huge market is available for the business to serve the entire
populace, both sick and healthy ones will serve as clients or
customers to the laboratory.
· The diagnostic laboratory will generate revenue through tax payment
for the government, and create job for the teaming youth.
· The funding requirement of the project is NB naira of which NC naira
is to be obtained as loan from the bank while ND naira will be
provided by the owner.
· The financial projections show that the project will be financially
stable and commercially viable by the time it matures. A net profit of
N2273740, N2849000, and N3, 569000 are expected for the 1st, and 2nd
and 3rd years respectively.
· Only three competitors have been identified, one strong and the
other two weak. But the laboratory shall have competitive edge over
them in terms of quick service delivery aided by automation and
accurate diagnosis with reliable results.
· From the analytical points of view, the proposed project is found to
be technically feasible, financially viable and economically
desirable. Thus, it is recommended for implementation.
2.0 BACKGROUND for Medical Diagnostic Laboratory Business Plan In Nigeria Feasibility Study
The idea to establish a unique, Daystar diagnostic laboratory at
Afikpo is the result of the supervision recently conducted by medical
laboratory scientists that revealed that of the three medical
laboratories instituted in the area, only one is up to standard
probably because it is within a hospital while the others are owned
and managed by people who have no knowledge of the profession and did
not even study it as a course.
People even with their money, suffer and die of sicknesses whose
causes could be identified and the right treatment given if the
existing laboratories were competent. I think this is an ample
opportunity to establish a qualified laboratory whose competence is
well known to the general public because of the quality of service/
diagnosis it is capable of delivering.
v To be the most outstanding, qualified and reliable medical
laboratory in Afikpo of Ebonyi state and within the state at large.
v To reduce mortality rate in Afikpo through accurate investigation of
the causes of the diseases that lead to death.
v To restore the hope of the public/patients on medical tests through
the release of impeccable results.
To carryout an accurate laboratory diagnosis and to release the most
reliable result through the use of well trained personnel and modern
2.4 OWNERSHIP/LEGAL STATUS
Ø The laboratory shall be a sole proprietorship business owned and
managed by Owuru Erica.
Ø He is a registered Nigerian medical laboratory scientist with a
license to operate or practice.
2.5 LOCATION OF THE BUSINESS
The laboratory shall be located at Mgbom in Afikpo North Local
Government Area of Ebonyi state. This choice of site is prompted by
the following factors.
· Availability of self acquired land to contain expansion of the laboratory
· Its nearness to a well known hospital that has no lab.
· Availability of good road network and lively nature of the settlement
Daystar diagnostic laboratory shall provide the following services:-
· All Hematological analysis (using blood samples)
· Chemical pathologic analysis
· Microbiological analysis (using stool, blood, sputum, urine, samples etc)
· Histologic processing of tissues
· Blood transfusion and immunological analysis.
2.7 PRODUCTION (OPERATION) PLAN
· Culture plates and media for culturing organisms.
· Microscopes and slides, for observing microscopic organisms
· Auto analyzers, for quick analysis of samples.
· Test tubes
· Automatic tissue processor
· Laboratory tables
· Culturing processes
· Centrifugation of fluid samples
· Biochemical reactions
The output target of Daystar Diagnostic Laboratory is 500 tests per day.
2.8 BUSINESS STRATEGY
· Employment of a good and well behaved receptionist who will act
friendly to patients/customers
· Regular and availability of services to patients at any point in time.
· Quick analysis of samples and delivery of expected and reliable results.
· Diagnosis and accurate prescription of drugs after diagnosis.
2.9 KEY SUCCESS FACTORS
· People’s preference for a laboratory that diagnoses and prescribes
drugs instead of hospitals that are rather expensive.
· Alliance with a private hospital without a laboratory, that sends
its patients to Daystar Diagnostic laboratory.
· Production of reliable lab results at cheaper prices.
· Low quality standard of existing laboratories
3.0 MARKET AND CLIENTS of Medical Diagnostic Laboratory Business Plan In Nigeria Feasibility Study
3.1 TARGET CLIENTS:
The target clients include
(1) All kind of patients (sick people)
(2) Pregnant women and nursing mothers.
(3) Normal/ healthy individuals
· Patients need our services for diagnosis of their ailments and
consequently for their treatment.
· Women who suspect pregnancy need our laboratory for its confirmation.
· Healthy individuals need our services for medical report and
examination of fitness especially in terms of employment
· Healthy individuals also need the laboratory for confirmation of
3.2 KEY COMPETITORS
The expected competitors include:
(1) Mater Miscericordiae hospitals.
(2) Amachi medical laboratory
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