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Capital Investment Plan

In: Business and Management

Submitted By trygetsucceed
Words 1529
Pages 7
The capital investment plan for the Mayo Clinic is an ongoing process to improve the health care and offer new equipment to help patients. The Mayo Clinic has been in business for several years and continues to not only help its patients but also the community in which is resides. Because of the revenue the hospital has brought to the area, it feels it is time to give back to the community in which is resides, which is a great investment plan for the residents. The Mayo Clinic, which is a hospital that focuses on the needs of very rare diseases and other ailments, recently spent $3.5 billion on capital projects in 2012 in hopes of increasing the number of jobs within the community in the years ahead (Newmarker, 2012, N.P.). “Jeff Bolton, the Mayo Clinic’s chief financial officer, said 60 percent of the capital spending will go toward replacing and renewing facilities, equipment and information technology” (Newmarker, 2012, N.P.). With this in mind it is also time to update some equipment within the facility as well. The new MRI screening center will open opportunities for employment as well as new and up to date treatment for patients. The objectives for the first year of operation upon completion will be:
 Increase the number of patients by providing services that Mayo has not been able to before
 Hire twenty new employees that specialize in MRI technology as well as billing and collection specialists
 Collections of at least 90%
 Average of 1200 to 1500 patients within the first 7 months of opening and 3500 within the first 15 months The mission of the Mayo Clinic is: “To inspire hope and contribute to health and well-being by providing the best care to every patient through integrated clinical practice, education and research” (Mayo Clinic, 2014, N.P.). Mayo Clinic also has many values that it believes in and focuses its facility upon including:

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