This is a part of the Strategic Plan. Research “WELL Health Technologies” (https://www.well.company/). You can find lots of information online since they are in Canadian stock. Please research it, analysis it, and using your business background to answer the following questions.
DO NOT need to include references/endnotes – this is meant to be a business document to the CEO, prefer online sources, just provide me a list of all links in the end. The number of sources is totally up to you but please research this company deeper, I need straightforward answers.
Mission Statement
Next 12 – 18 Months: Revenue growth by focusing on business activities within the portfolio that have an established operation that generates positive cash flows.
Task 1, Identify and rank current sources of revenue – This question I need you to answer the blank first in a table, you can find their 2020 Audited annual financial statements on https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00033135
Rank
Sources of Revenue
A couple sentences to explain/highly summarize this source of revenue (can you find in Report Page 12, but summarize it, do not copy)
How much this sources contribute in 2020
How much this sources contribute in 2019
1
Patient services revenue
Fill it out please
$36,748,128
$30,305,359
2
Software and Services
Includes: Digital/EMR revenue; Digital apps/Telehealth revenue; Billing-as-a-service (“BaaS”) revenue; Explain each one please
$12,340,394
$2,505,423
3
Cybersecurity Services
Fill it out please
$1,151,727
None
Rank
Sources of expense
A couple sentences to explain/highly summarize this source of revenue
How much this sources contribute in 2020
How much this sources contribute in 2019
1
Wages and benefits
Fill it out please
$12,722,872
$7,687,478
2
Professional and consulting fees
Fill it out please
$4,614,821
$1,906,705
3
Office expenses
Fill it out please
$2,042,963
$1,246,610
4
Marketing and promotion
Fill it out please
$1,593,111
$34,589
5
Other
Fill it out please
$1,403,058
1,108,808
Then, I need you to use a couple sentence, straightforward to give me a summary about the Identify and rank current sources of revenue, what is your thought? Don’t forget to think about the expense as well. Something like growth rate?
Task 2: Identify key performance metrics that are linked to revenue (Remember this is a part of the Strategic Plan, please make sure you know the concept about key performance metric)
Really need your help for this one, same ideas, a couple sentences, make it clear. After you list the key performance metrics, please use a couple sentences, straightforward to give me a summary about your thought.
Task 3: Four Associated Objectives for the mission statement. (Remember this is a part of the Strategic Plan, please make sure you know the concept about the associated objectives, strategic and action plan)
According to the new mission statement I mentioned above, here we go:
Associated Objectives: Hire a President of Operations with experience in strategic planning and subject matter expertise in Electronic Medical Record systems to oversee clinic operations by December 2021 (This idea came from their career page, https://wellhealth.bamboohr.com/jobs/view.php?id=108&source=well)
I need:
Strategic Thrust (Key initiatives, typically requiring 12-18 month to achieve):
Action Plans:
What:
Who:
When:
How:
(Say something about hire someone has the similar experience is easier to manage?)
Associated Objectives: Achieve 5% annualized growth of revenue from CRH Medical Corporation clinics for 2021 Q3 and Q4.
I need:
Strategic Thrust (Key initiatives, typically requiring 12-18 month to achieve):
Action Plans:
What:
Who:
When:
How:
(Say something about hire someone has the similar experience is easier to manage?)
Associated Objectives: Increase the mean revenue per encounter by 3% within 12 months from now.
I need:
Strategic Thrust (Key initiatives, typically requiring 12-18 month to achieve):
Action Plans:
What:
Who:
When:
How:
(Say something about hire someone has the similar experience is easier to manage?)
Associated Objectives: Increase Patient services & Software and Services revenue by introduce a new app
Strategic Thrust (Key initiatives, typically requiring 12-18 month to achieve): Something like to work with government or local business owners such as restaurants or malls, to promote an covid app, then encourage people to download the app, the app will even come up with the digital covid vaccination verification, the business owner can check it before/when the enter the business.… please polish it
Action Plans:
What:
Who:
When:
How:
(I’m thinking 1 year to open this market, once increased the number of users, encourage them to use app to use virtual clinic or even promote the physical clinic Well Health have)
Number 1 and 4 I feel confidence, but 2 and 3 I’m not, please feel free to change objective 3 or 4, but please make sure it’s strong and make sense, and doable with reasons.
Task 4: Create targets and timelines for those KPIs. – This question I need you to answer the blank first in a table (Remember this is a part of the Strategic Plan, please make sure you know the concept about the KPI)
Measure
2021
2022
2023
2024
2025
Example:
Then, could you give me a short summary to support your idea above? Thank you.
Task 5: Identify strategies to hit KPI targets
Really need your help for this one, same ideas, a couple sentences, make it clear. After you list the all the the strategies, please use a couple sentences, straightforward to give me a summary about your thought. (Remember this is a part of the Strategic Plan, please make sure you know the concept about the Identify strategies to hit KPI targets)
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