Case 3 – Lakeview Medical Center 1.) Describe the method or methods you would use to determine priorities for both existing and potential services that the Lakeview Medical Center might offer. In order to determine which existing and potential services that Lakeview Medical Center (LMC) should offer, strategists must assess several key components of each service line to test its validity. LMC will conduct a “brainstorming” session outside of the work environment to encourage strategic thinking amongst the administrators. To begin with, these administrators need to decide whether or not each service at-hand aligns with the medical center’s mission. If the service does not further the organizational mission or purpose, then it should …show more content…
Nonetheless, operation would not be possible without money; therefore the financials and profitability should be looked at when determining service priorities. Finally, after aligning all of the services with the mission, assessing them for market growth, and examining their financials, the strategists should establish the probability and reality for success. Does LMC have the necessary internal and external capabilities for developing, continuing, or divesting in a service? Do they have the appropriate human and operational capital if investments are needed? In a nutshell, the goals of each service needs to be assessed for reality, and if success is actually obtainable. It is possible for LMC to develop services in a market that may already be flooded, AND does this make sense? Is possible to render great success in areas that have strong competition, and is this worth risking the capital? LMC should follow the method presented above in order to determine priorities for both existing and potential services. 2.) What criteria would you choose for selecting among the various services and how would you choose the criteria? In order to select which services Lakeview Medical Center (LMC) should develop, continue, or divest in, strategists should investigate specific criteria to assist them in their decision-making.
Middleboro Community Hospital is a non-profit hospital founded in 1890 with state licensure, The Joint Commission accreditation, and American College of Surgeons approval. Over 120+ year history, Middleboro has grown to be a respectable facility in the eyes of the medical community as well as its immediate population of patients in Middleboro. Still, Middleboro must continue to fight to remain relevant and up-to-date with the latest medical technology and changing patient demographics and needs. In order to this, Middleboro Community Hospital has set these three goals as part of their corporate strategy:
Strategic Planning is an essential first step in the development of a result-base accountability system,” (Schilder, 2013, p. 1). In strategic planning an organization must know their goals, missions, and how to reach them. Health care facilities are in huge demand for the elderly and for people who lives in low-income communities. A person who receives good quality health care services can prevent the spread of contagious diseases. This paper will describe the need of the community, population it is serving, and a brief description of the facility.
B. Choose what you think are the three most important in order, and justify your decisions.
This week’s case looks at the critical situation occurring at Riverview Regional Medical Center located in Etowah County, Alabama. The medical center, located near a strong competitor, is run by a veteran in the hospital management market, Mr Matt Hayes. Hayes is actively in the process of developing new ideas and revolutionary steps in an attempt to remain competitive in the market and regain profitability. The overall performance of Riverview Regional Medical Center appears to have decreased throughout multiple departments except outpatient surgical procedures, outpatient CT imagining, MRI imagining and inpatient MRI scans.
We should look into the services that this other nearby hospital is providing in their wellness center, and we should extend our services to the ones they are not offering. Our wellness center should also include a retail store to allow the patients to purchases the products that we use on them. I know this will require a specially trained staff, and we will make sure that the staff is qualified with all certifications needed.
Since most specialty procedures are inpatient services, EMC’s inpatient occupancy rate suffers. The occupancy rate for Emanuel Medical Center – fifty percent – is far below that of its competitors and industry benchmarks. To accompany this, EMC (on average) receives a lower reimbursement for in-patient Medicare services per patient seen in comparison to its competitors. A result such as this is correlated with directly to the fewer amount of specialty services that EMC offers. In order for Emanuel Medical Center to be able to compete with other hospitals in its service area, it is imperative that EMC evaluates what services they currently offer and are capable to offer in the future to add value to the hospital, increase its revenue stream, and expand its patient mix. Currently, Emanuel Medical Center has not succumbed to its increasing financial pressurealthough EMC has had a negative operating income for five straight years. A negative operating income places EMC at a disadvantage because it limits the hospitals ability to renovate its aging building or hire new specialists to offer revenue enhancing procedures. EMC’s competitors, on the other hand, have large sources of revenue due to their mergers with large healthcare networks such as Catholic Healthcare West. Another competitor, Kaiser Permanente Modesto Medical Center, has extremely large financial resources due to the fact
Gadsden is located in the northeastern corner of Alabama and is the county seat of Etowah County. It is 60 miles
The Intermountain Healthcare, a non-governmental institution providing medical services in over twenty-one countries and which has been in operation for 13 years has been faced with financial challenges. Reduction in government support for the organization has led to reduction its revenues. It, therefore, becomes challenging to balance the organization costs and quality with the falling profitability. Strategic decisions need to be established to strike a balance in the three conflicting elements in the company.
Utilizing a less formal approach, such as a diagonal channel of communication, the creation of the strategic plan can be developed as a team with each member’s input valued and discussed (Marquis & Huston, 2015). In this case, the VP of Operations and CFO were concerned that residents had to seek services out of the area causing a loss of revenue, whereas the Chief Nursing Officer was more concerned about the crowding of non-emergent patients in the ED. By highlighting, the fact that operationalizing an urgent care center on the premises would increase the revenue stream and decrease the number of non-emergent patients in the ED, the concerns of the senior leaders would be addressed increasing the likelihood of receiving buy-in and success of the strategic
In Kennedy Medical Center it is the tradition to divert the ambulatory services the moment the patient in-take becomes high. However, this decision is an unethical way of managing the increased number of patients who are in need of services but for the staff members of this facility lead by Ms. Downs, this was the normal process. Over the past 25 years Kennedy Medical Center have made minimal changes with redundancy and the wait time for services within the emergency department. Dr. Grant faces several challenges in his mission of branding the hospital a new name by making it his goal that all patients are in and out within a four-hour time span, while having the emergency department be on divert once a month instead of each time it becomes
In order to determine which course of action would best serve community or direction for a healthcare organization, administration should obtain input from the stakeholders of the organization (Nowicki, 2015). Even though both Medicare and The Joint Commission require healthcare organizations to complete strategic plans, it is important for the business to have a vision and direction in which to best serve their stakeholders (Nowicki, 2015). Strategic planning provides a plan to achieve the organization’s goals, as well as a plan to fund the operational and capital costs for a healthcare organization to serve successfully their
The proposal submitted by Time Merchants was clearly organized and captured the reader’s attention. TM’s plan provided essential details to investors without overwhelming them with vague language and unnecessary information. The focus was direct and the message was articulated with ease. Time merchants effectively utilized verifiable statics and market research to substantiate the purpose of the plan. Consequently, the proposal did contained statics for many categories, which could intimidate the reader. However, these stats were necessary to demonstrate the potential effectiveness of the service and short term growth. This information is essential for investors. Also, the potential risks were highlighted, but was followed by the possible solutions. Which can provided investors with a sense of confidence in the services that are marketed. This plan is easy to interpret and the specific details regarding cost, project growth and profit valuable element that can assist in successful attracting investors to fund the
In the delivery of service in the industry the business will endeavor to improve in service provisions through technological innovations, training to their personnel and integrating the community for value added services ADDIN EN.CITE Behn2003247(Behn, 2003)24724717Behn, D., R. 'Why Measure Performance? Different Purposes Require Different Measures', Public Administration Review, European Journal of MarketingEuropean Journal of Marketing586-60663 (5)52003( HYPERLINK l "_ENREF_1" o "Behn, 2003 #247" Behn, 2003).
HAQLUND E,L, and MATTSON, J, 1995, Analysis, Planning, Improvisation and Control in the Development of New Services, International Journal of Service Industry Management, Vol.6, Issue No.2, pp.34-35
The service industries have a long history of serving customers domestically as well as globally. Services are intangibles and they cannot be inventoried. This is a headache for services managers in organizing their business and making profits. In other hand, the managers look at these circumstances as a challenging.