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MGT380
Assignment
Business Plan of CareNow
1. Executive Summary
CareNow is a digital platform that aims to revolutionise the healthcare professional recruitment process
in Singapore. It addresses the unsatisfactory gap between healthcare institutions and care professionals
in response to the ageing population and rising demand for better job quality. The application (app)
offers skilled healthcare professionals attractive pay and the freedom to select shifts that work with
their schedules while giving healthcare organisations an easy and effective means to identify and recruit
them. CareNow will break even in its first year of operation with a profit of $22,879 and has strong
projections for the next 2 years. CareNow is in a good position to seize a sizable portion of Singapore's
expanding healthcare staffing industry, giving both healthcare organisations and care professionals a
much-needed alternative.
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2. Product Overview
2.1. CareNow’s Story
CareNow connects carers and nurses to healthcare businesses for temporary staffing by providing a
pool of pre-screened and flexible healthcare employees available for short-term shifts to assist
healthcare companies in managing their temporary staffing needs. Singapore has a strong foundation
in healthcare but like many developed countries, they are facing a shortage of healthcare workers to
support the system and must account for last minute staff shortage due to illness or emergencies (Teo,
2022). This makes staffing the biggest challenge in Singapore’s healthcare industry. Founded by 2
passionate individuals to change this, CareNow can play an important role to help fill the gaps in the
industry, one shift at a time.
2.2. Vision, Mission and Values
CareNow’s vision: “To revolutionise the way healthcare is provided through the use of technology to
improve healthcare delivery by making it more effective, efficient and flexible”
Carenow’s mission: “To streamline the process of staffing shifts and enhance the standard of care given
to patients by offering a platform that links care organisations with a network of trained healthcare
experts - “No agency, no paperwork, no fuss””
Carenow’s values: Care to make a difference, Positive mindset, and Empathy - always put yourselves in
their shoes.
2.3. Platform and Distribution
CareNow is a digital platform accessible through a webpage and mobile application, providing more
benefits than office spaces as online platforms offer significant advantages, such as easier market
updates and more accurate information (Rosoiu and Popescu, 2016). The website provides information
about CareNow, while the app is the main usable platform as smartphone healthcare apps are widely
gaining acceptance as useful clinical communication tools (Mosa, Yoo and Sheets, 2012). The app is
available on IOS and Android and will be offered in four languages: English, Mandarin, Malay, and Tamil
to cater to Singapore's diverse population (Department of Statistics (DoS), 2020).