ALFRED NOBEL UNIVERSITY, DNIPROPETROVSK
DEPARTMENT OF INTERNATIONAL ECONOMY AND ECONOMIC
THEORY
Vira BLYSHCHIK
PROSPECTS FOR THE INTERNATIONAL COMPETITIVENESS OF
UKRAINE IN THE FIELD OF MEDICAL SERVICES
ABSTRACT OF DIPLOMA PROJECT
Scientific supervisor
Doctor of Economics, Full Professor
A. O. Zadoya
Language consultant
Senior Lecturer S. I. Medynska
Dnipropetrovsk
2015
1. Theoretical basis of international
competitiveness evaluation of institutions in
a healthcare sphere.
2. Analysis of the Clinic of JSC Interpipe NTRP
and assessment of its opportunities on the
foreign markets.
3. Ways of improving international
competitiveness of the Clinic of JSC
Interpipe NTRP.
•
The purpose of the diploma research is to identify
the main directions for further development of the
medical services sector in Ukraine in terms of
international standards, systemize the most competitive
areas of the medical sector and identify key issues of
state regulation for the sector of health care.
• The object of the investigation is the subdivision of
JSC Interpipe NTRP called Separate Division "Clinic of
JSC Interpipe NTRP".
• The subject of the investigation is competitiveness of
Ukraine in the field of medical services.
1. Theoretical basis of international competitiveness evaluation of
institutions in a healthcare sphere
•
•
•
•
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Task 1 - profitability.
Task 2 - quality.
Task 3 - management.
Task 4 - sales.
Task 5 - discipline.
International market strategy is drawn up
at the following levels:
• corporate;
• divisional;
• business (through which it will
compete);
• functional (the elements).
Strategies of local unit leadership, global
niche strategy, creative strategy,
adaptation strategy, strategy of
technological jump, strategy of
adapted prices.
Private medical business currently in the
country takes no more than 1-2% in
turnover and consists of the following
dental offices 71%
units:
5%
2%
laboratory and diagnostic
rooms 22%
22%
71%
small outpatient clinics
narrowly focused on
providing specific services
(reproductive,
ophthalmology,
gastroenterology clinics etc.)
5%
2 . Analysis of the Clinic of JSC Interpipe NTRP and assessment of its
.
opportunities on the foreign markets
Clinic of JSC Interpipe NTRP provides the following services:
• Medical examinations for drivers to corporations that are entitled to driving enterprise;
• Paramedical services (provided medical assistant on enterprises);
• Preventive medical examination (systematic monitoring of workers' health);
• Therapist and gynecologist;
• Otolaryngologist;
• Services of surgeons;
• Services of a neurologist (vibration sensitivity);
• Services of an optometrist;
• Services of a dermatologist;
• Dental services;
• Room of audiometry;
• Biochemical and clinical studies of blood;
• Endoscopy;
• Roentgenology;
• Electrocardiography.
600 services per day
2800 clients per day
2. Analysis of the Clinic of JSC Interpipe NTRP and assessment of its
opportunities on the foreign markets.
SWOT-analysis
Positive impact
Negative impact
Internal environment
Strengths
the number, variety and quality of
services;
skilled human resources;
low prices;
training and instructing of junior staff by
the experts of the medical center
Weaknesses
outdated technology;
lack of staff;
high level of expenditure;
low wages;
a low advertising budget;
a low amount of working capital
External environment
a large market share in providing
preventive medical examinations in
Dnipropetrovsk and Dnipropetrovsk
region;
knowledge of foreign markets and
consumers;
development of the global economy
social and political instability;
inflation;
legislation;
appearance of foreign
competitors
Group of clinics BAINDYR
American hospital in Dubai
3 . Ways of improving international competitiveness of the Clinic of JSC Interpipe NTRP
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•
•
•
•
•
•
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Using new technologies and participation in medical educational seminars,
online conferences.
New standards in education for doctors and nurses
Making a gradual increase in wages
Improving the efficiency of budget spending
Higher prices for paid services
PR-development:
It is necessary to develop a medical center logo
It will be appropriate to create group pages in different social networks
It is a good idea to use Doodle video
It is necessary to develop an electronic system for forming a timetable and
create an electronic catalog
Business angel can expect a 22% return on investment.
3. Ways of improving international competitiveness of the Clinic of JSC
Interpipe NTRP
Ways for investments*
The cost of equipment
12 000 000+1 000 000=13 000 000
Costs of building repair works
17 000 000
The costs of creating a computer network
80 000+4 000 000=4 080 000
The costs of additional equipment
70 000
The cost of clothes and footwear for personnel
350 000
The cost of landscaping the park near the clinic and
parking
80 000+250 000=330 000
∑34830000
3. Ways of improving international competitiveness of the Clinic of JSC
Interpipe NTRP
1). The discount rate:
d(t) = r(t) / (1+ r(t))
d(t) =20%/(1+20%)=0.2/(1+0.2)= 0.2/1.2=0.166=0.17;
і = (1+Hn)х(1+π)x(1+rk)-1
і = (1+20%) х(1+15%) х(1+10%)-1=(1+0.2) х(1+0,15) х(1+0.1)-1=0.518;
34830000 х 1.518=52871940
2). NPV – Net Present Value
NPV=(27000000:1.518)- 34830000= -17043438.7352
NPV1=27000000:1.518=17786561.3
NPV2=27000000:(1.518)2=27000000:2.3043=11717224.3
NPV3=27000000:(1.518)3=27000000: 3.498=7718696.4
NPV4=27000000:(1.518)4=27000000: 5.3099=5084841.5
NPV5=27000000:(1.518)5=27000000: 8.0604=3349709.7
NPV6=27000000:(1.518)6=27000000: 12.2358=2206639.5
NPV7=27000000:(1.518)7=27000000:18.5739=1453652.7
NPV=17786561.3 +11717224.3+7718696.4+5084841.5 +3349709.7 +2206639.5 +1453652.7
34830000=49317325.4 – 34830000=14487325.4 >0 - international project should be taken, because
the cost (value) of rise will increase the stock price.
34830000+14487325.4=49317325.4 – total revenue
49317325.4 :7= 7045332.2 UAH – average sum of earnings
34830000: 7045332.2= 4.9437 = 5 years – payback period
3. Ways of improving international competitiveness of the Clinic of JSC
Interpipe NTRP
•
Initial data for analysis of the effectiveness of investments
Indicators
Years
1(2015)
2
3
4
5
6
7
Investments
5 000 000
5 000 000
7 000 000
6 500 000
7 833 333
7 833 333
7 833 333
Profit
31000000
31150000
29500000
31150000
29500000
29600000
29800000
Costs of
services
28000000
29000000
29000000
29500000
28550000
28650000
29750000
Profit balance
3000000
2150000
500000
1650000
950000
950000
50000
Income tax
18%
Net profit
2 460 000
Present and future value of cash
flows for the project*
Years
Investments
(34830000:7)
Net profit
1
5 000 000
2 460 000
2
Depreciation
Cash flow
Discount
rate
Investments
( ІТВ)
5 000 000*1.518
1.518
7590000
5 000 000
1.518
7590000
3
7 000 000
1.518
10626000
4
6 500 000
1.518
9867000
5
7 833 333
1.518
11890999.494
6
7 833 333
1.518
11890999.494
7
7 833 333
1.518
11890999.494