Strategic Management Of The Healthcare Industry

Performance Management at Intermountain Healthcare Key Points   Operational focus - strategy rather than management. How will the organization prepare for the future if their primary customer (government) reduces spending? How will they address decreasing revenues caused by their increasing effiencies?

Strategic leadership in healthcare is the act of transforming a health care organization so that its daily functioning matches the organization’s vision, core values, the cultures it serves, as well as organization’s culture, organizational climate and structure. In implementing strategic leadership, managers and healthcare executives can gain a greater sense of clarity in the changes that need to be made so that the organization can reach its full potential. Healthcare leaders can also make stronger connections internally and externally, with incorporating strategic leadership, to help the organization grow and expand the organization’s reputation, while contribute to the organization’s well-being.

Without strategic planning, several things can go wrong including missing out on great opportunities. Strategic planning is an organization’s outline to help achieve its purpose. Although strategic planning begins at the top of the pyramid, it is more effective when it is carry out as a whole among other in the organization. Having a good internal control system in place protects an organization from high risk, fraud, and more. Jackson Memorial Hospital has several weaknesses which are similar to its competitors and other health care organizations. For instance, Mount Sinai Medical Center one of Jackson Memorial’s competitors, encountered lack of strategic planning that led to many issues such as with readmissions, surgical complications,

Throughout the years, health care leaders have tackled many challenges in the health care organization. Some of the challenges include knowing the difference between needs and wants, affordability, and sustainability, consequently these challenges can be confronted by evolving and transforming over to modern business models. For health organizations to be successful they must use planning, decision making, and training. Regardless of the changes, health care organizations must conserve excellent services. The purpose of this report is to recapitulate information shared throughout an interview between Dr. Kyle Grazier and Ronald G. Spaeth. The interview gave readers insight on Spaeth’s work, educational background, awards highlighted, and his philosophies or strategies for health care. This report will also enclose the biggest obstacles that Spaeth believes today’s health care administrator is facing in addition to the school of management theory he mostly used and why. In conclusion, I will state my opinions on Spaeth’s approaches and the lessons that individual’s can learn from the interview.

According to Harrison (2016), “an integrated physician model is the result of a series of partnerships between hospitals and physicians developed over time.” The plan behind this model is to enhance joint efforts with medical specialists and associations. There are four strategies that need to be implemented for successful integration: “1) understand the forces affecting physicians; design strategic offerings to meet the needs of local physicians, 2) understand the hospital or health system’s specific capabilities and infrastructure in the context of the communities served, 3) ground physician-integration efforts on a well-defined strategic financial plan with sufficient resources and performance targets, and 4) ensure strong physician participation, leadership and governance.” (Cullen, S. J., Lambert III, M. J., & Pizzo, J. J. (2012)

This assignment will be a good review of the following: Choose a company or an industry in which you have worked or would like to work. It could be a hospital or a physician practice. Identify all the important stakeholders for the entity. Determine the primary aims/objectives of each stakeholder. Assess the power of each stakeholder to affect the company’s strategic plans, and how it may apply that power. Explain how the company might respond to the possible actions of each stakeholder. Recommend tradeoffs that company managers could make to accommodate the stakeholders in a way that optimizes the company’s own performance.

Strategic Planning: Due to the current issues, both internally and externally, the organization is facing, Dr. Townsend is challenged to prepare an action plan to implement the proposed strategy needed to restore the organization back to financial health and improve the morale among the physicians and support staff. Another course of planning Dr. Townsend will challenge is the organizations old structure into a way that all patients will be satisfied.

United Healthcare assesses that it services approximately 70 million Americans . Its entire system spans 676,287 physicians and health care professionals, 80,000 dentists and 5,190 hospitals, whilst their pharmaceutical management provides more affordable drugs to 13 million people.

For these reasons, a strategic manager can use strategic planning to get the most value from their patients by obtaining the best outcomes at the lowest cost. Additionally, to help with the strategic planning in physical therapy, a SMART objective can be used because patient outcomes need to be specific, measurable, achievable, relevant and time framed (Scott & Petrosino, 2008, p. 30). Furthermore, when choosing of a strategy for healthcare departments, the leader must take into consideration a few steps, with additional emphasis on the

For several decades health care has been tied to the economy and with the current downturn we see continued efforts to control and reduce over-head costs. Health care organizations in their effort to become more efficient and address changes in the industry have altered their strategic business plans. Lee & Alexander (1999) researched organizational change in hospitals and their survival, in this paper I hope to discuss their findings and add other examples to validate their conclusions.

Successful medical organizations have as their guiding principles a professionally stated purpose which encompasses and details their mission statement, vision statement, values statement, and broad strategic goals. The organizational structure is established on these statements, and the function of each department and the duties of each employee are based upon fulfilling the purpose of these statements. Additionally, these statements must encompass the various aspects of the organization and its stakeholders. As Moore, Ellsworth, and Haufman (2011) purport, “ Any organization planning as though it exists in a vacuum is ignoring factors critical for its survival” (p. 16). Without these guiding principles to serve as a direction for the

These health care organizations have two types of planning to follow, and they are tactical and strategic planning. When tactical planning takes place, there is a short term goal in mind (Society for Human Resource Management, 2102). The course of action for a tactical plan is to achieve a goal within a year or less time period (Society for Human Resource Management, 2102). A tactical plan has a smaller scope and shorter time span than a strategic plan (Society for Human Resource Management, 2102). It takes several tactical plans to achieve the strategic plan (Society for Human Resource Management, 2102). Strategic planning differs from tactical planning, because in strategic plan, the course of action is to achieve goals for the long term (Society for Human Resource Management, 2102). Strategic planning goals are usually wanted to be completed with five years (Society for Human Resource Management, 2102). The organization’s mission statement purpose and direction are reflected upon strategic planning (Society for Human Resource Management, 2102). Top management must view reports on operations, external environments and finances when looking to develop a strategic plan (Society for Human Resource Management, 2102). The development of tactical plans are influenced by strategic plans (Society for Human Resource Management, 2102).

Globalization changes have impacted Burger King in the following ways; since the company began in 1953 with its first restaurant in Jacksonville, Florida and opened several locations across the United States, the company began its international expansion in 1969 with its first international franchise location in Canada, followed by Australia in 1971, and Europe in 1975. The setting up of franchises outside the United States was as a result of fast food opportunities arising outside the United States. So as to fully integrate in the international market, Burger King had to adopt and embrace

Having a clear vision is extremely important in order to accomplish goals in life and a well-defined strategy is essential in order to fulfill that vision, thereby, both visioning and strategic thinking go hand in hand. As Souba (2004) states that, “[v]ision without a strategy is a daydream; strategy without vision is a nightmare’” (p. 447). It is evident how this competency is essential in each and every sector, in my opinion; this competency will help in the betterment of healthcare sector as well. This paper will address the importance of having a clear strategy and vision pertaining to the healthcare sector and illustrating a case in the light of it.

Fixing problems that face health care in many health facilities demand a system wide set of solutions. The systems used in these facilities must be assessed and redesigned to identify factors that will aid in the achievement of the set goals. The enormous task of achieving the goals should be undertaken collaboratively by all the key stakeholders, who include, health care professionals, planners and policy makers, administrators, payers, and patients and their families. These partnerships must begin with a common understanding of the problems together with a shared commitment to cooperate and work together to eliminate the problems. With this knowledge, therefore, an action plan for redesigning the health care system can be developed and later implemented. For a successful health care service to be realized, there are various factors which should be employed and which are not found in the traditional business setting. These include unique economic processes, proper regulatory requirements and the perfect quality indicators. This creates a need for every leader within the healthcare industry to create or develop unique skill sets that will harmonize both organizational leadership and the inter-professional team development. It is, therefore, important to understand the comprehensive approach to the management of patient care and also how the concepts of team development and organizational leadership support healthcare leaders in creation of a patient-centric