FEASIBILITY STUDY ANALYSIS OF THE CONSTRUCTION OF HOSPITAL X IN BOGOR REGENCY

Management

The demand for hospitals continues to rise in line with the growing population, increased public awareness of healthcare, and improvements in health insurance systems (including BPJS). However, the increasing need for hospital beds is not always matched by the same level of investment in the healthcare sector, especially in the development of adequate advanced medical facilities. This study aims to assess the feasibility of investing in the construction of Hospital X in Bogor Regency by analyzing marketing and financial aspects. The research employs a mixed-method approach that integrates both quantitative and qualitative methods. Data collection includes direct and participatory observations, interviews, document analysis, and secondary data assessment. The marketing aspect evaluates the hospital's catchment area and market potential, supported by macroeconomic indicators such as regional GDP and employment statistics. Meanwhile, the financial aspect is assessed using Payback Period, Net Present Value (NPV), and Internal Rate of Return (IRR). The financial analysis reveals a Payback Period of 10 years, which is shorter than the project lifespan. The NPV is positive at IDR 22 billion using an 11% discount rate, while the IRR reaches 12.8% (1.6% above the 11% discount rate). In a leveraged scenario with up to 60% debt financing, the IRR on equity increases to 15.1%. Based on these findings, the proposed construction of Hospital X is deemed feasible, and investors may proceed with the development.

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