Applied Medical has grown from its humble beginnings twenty years ago to a quarter billion dollar company by implementing an unconventional, vertically-integrated business model that has catapulted the company to be world leader in the laparoscopic trocar market.
. The company 's mission is to reduce the cost of healthcare by providing the best quality medical devices at the lowest possible price. "We are proud to have a significant and sustainable impact on healthcare by delivering technologies that enhance clinical care and satisfy the pressing economic needs of our customers" ("Applied Medical", n.d., para.1) . Applied Medical has demonstrated that takes its social responsibility seriously through different initiatives that benefit customers and the community.
This paper presents a synopsis of Applied Medical 's current sustainability practices, discusses specific sustainable practices that can benefit the triple bottom line immediately, and finally exhibits the benefits of synergizing corporate responsibility activities by appointing a Corporate Social Responsibility Manager to Applied Medical 's leadership team.
Analysis
Applied Medical recognizes the value of being a good corporate citizen though its community outreach programs and by keeping the cost of healthcare low. Blocher (2011) stated that Applied Medical is a compassionate corporation since it encourages its employees to volunteer for the Free Wheelchair Mission, which is a non-profit organization dedicated
The mission of UnitedHealthcare Group is to “help people live healthier lives” with access, quality and affordability. They are committed to continual improvement and the delivery of quality care by investing approximately $3 billion in business process improvements, research development, and technology within the past five years. In addition to reinvesting the revenues in innovative technologies, research and other improvements to better serves its consumers, UnitedHealthcare Group is also committed to social responsibility through employee involvement,
Many firms are learning that being environmentally friendly and sustainable has numerous benefits. (O.C Ferrell, Fraedrich, Ferrell, 2015). This could enable them to increase goodwill from various stakeholders and also save money in the long term. This will mean that they are being more efficient and less wasteful of resources, which will enable them to be more competitive by satisfying stakeholders. The CEO of
or so many years our society has been thinking of forming new creative and innovative businesses, which would be more environmental and customer friendly. Nowadays a large number of different companies follow the social, ethical, as well as moral consequences when it comes to their decision making. One of the relatively new concepts involving economic and social concerns is Corporate Social Responsibility. Many of us apply this approach not only at work, but also in everyday life without even recognizing.
These changes will have direct consequences for service provision, and will also affect the population’s health and social care needs (Department of Health/Health Protection Agency 2008). Sustainability means being prepared for these changing needs. Taking measures that explicitly promote sustainability such as adopting new technologies in hospitals and other facilities, which reduce the environmental impact of health and social care buildings. But more fundamentally, it means delivering health and social services in a way that is as effective and efficient as possible. Ultimately, the most sustainable system is one that minimises unnecessary or ineffective use of resources (financial or natural) by delivering the right care, in the right place, at the right time – and by preventing care needs from arising at all, where possible.There is, therefore, a close connection between environmental sustainability and efforts to improve productivity (for example, through the Quality, Innovation, Productivity and Prevention (QIPP) programme).
The health care industry is the fastest growing field. As the years go by, more and more discoveries will be made. This paper will discuss the changes from the past 10 years, what I believe will be the biggest change in the next 10 years, my role in the industry, adapting my skills to grow with the change, my perception towards the changes, technologies role, and financial and economical issues.
With the healthcare world evolving the need for traditional provider-patient relationships is changing toward a more complex system. That would allow caregivers and their patients to have a chance to become an active part of the healthcare path. Along with the continuous chance of healthcare business models the way technology is seen is most healthcare systems. The technology is visible and yet seem
St. Jude Medical's mission has always been to produce superior products that facilitate the healing of the many common illnesses that can affect the general population. The company collaborates with various health care providers and the public to offer these products while also sticking to their goal of decreasing the cost of medical expenses. St. Jude Medical's corporate strategy consists of a strong leadership that includes various board of directors as well as acquiring many companies and products such as Daig Corporation, Ventritex and Angio-Seal to increase their its productivity. If the company wants to succeed financially, the corporate strategy needs to have continuous updating. Health care is consistently revolutionizing which is why by St. Jude Medical acquiring other companies they are able to introduced the latest devices and brand to the public such as the CardoMEMS HF.
The evolving practice of medicine and advancement in medical science/technology dictates that leading healthcare organizations should seek partnership with the patient community in order enhanced safety and promote quality of health care services. In order to achieve these goals, our organization
The health care industry is one of the most dynamic and delicate industries in the U.S. having experienced healthy and substantial changes for the last thirty years most of which have aimed to improve health care management and services delivery to the patients. The changes have enabled the integration of technology into the industry such as in the area of informatics, science and research and payment services and clinical treatments. The health care sector has introduced various changes to address disease and health care management such as the Modernization Act of 2003, the Patient Protection Act and Affordable Act, which aim at improving health provision and most
One of the main challenges regarding the growing use of medical technology in the United States is the growing costs that go along with these changes. These state of the art machines as well as new drug and biological developments come at huge costs which in turn are partially paid by patients and consumers. This has led to huge increases in the average costs of healthcare (Begay, “Technology” Lecture, 10/31/17).
Effective, efficient, ease of use, simplicity, economical, and transparent are words rarely associated with the healthcare system. Most will agree the United States system is one that has ample opportunities for advancement, but how the advancements are made, is the great debate. This paper will focus on Aetna and provide a new mission and vision for the company based on their current strategic plan.
Johnson & Johnson (J&J) is a multinational company founded in the the United states in 1886. The company’s create most of their revenue by selling medical devices, pharmaceutical products and consumer packaged goods. Johnson & Johnson’s value in the stock market is listed among the top pharmaceutical companies. The company owns varieties of different extensions to supply the demand of human health product. The company has dedicated their time to help people live longer healthier lives with their research development teams. Even though no all the actions authorized on the C-suite have kept the company apart from decreasing profits. Johnson & Johnson had ups and downs on the past, some mistakes had cause several threats to individuals. But the company has work hard to balance their corporate social responsibility. Johnson & Johnson executives are aware of the ethical issue the company faces daily so by taking severe and more smart decision they plan to boost the company 's profits. Consumers acquire confidence and feel more comfortable when social responsibility forms part of the future plans of the company. Important part of Johnson and Johnson strategic plan to keep being profitable in their upcoming quarters.
Sustainability has become a great topic of interest in many arenas. Particularly, leading organizations are recognizing sustainability needs to be an essential aspect of their long term strategies. With this recognition, better business practices are being sought by investors as well as sustainability is becoming a driving force for better efficiencies and innovation. Two organizations, Wal-Mart and Starbucks, have both took on sustainability as long term initiatives to address their customer needs and affect how their suppliers operate.
Experiencing low cost traditional surgical procedures, Advanced Medical Technology Corporation (AMT) wants to broadcast this tagline by manufacturing well designed medical instrument based on a massive researching.
The profession of health informatics is a relatively new one, blending the use of technologies with collecting, organizing, storing, using, and evaluating health information.