The Transformation Of The Gas Engines

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.

My strategy will consist of three phases. These phases include: capital shortage, funding options for equipment acquisition and funding options for capital expansion. During these three phases I will observe the necessary financial statements and documents. From this information I will analyze the information and decide the best strategy for improvements. I will not only focus on the goals for the clinic, but long term budget goals as well.

The healthcare system in America started as a predominantly volunteer system where patients were required to pay little to nothing for treatment. Since it began, the healthcare industry has seen tremendous changes that have transformed it into a business entity which has operations like financial management, strategic planning and functional specialties to keep the industry viable. The industry is one of the largest in the country employing 15 million people with a projected increase of jobs with 3 million jobs annually. As the healthcare industry continues growing, services and personnel are changing, and various dynamics are coming into play to accommodate changes (Smith, Saunders, Stuckhardt, & McGinnis, 2013).

Effective financial management is the basis of thriving health care organizations. Organizations must make good investment decisions based on objective analysis (Healthcare Financial Management Association [HFMA], 2005). Integration of financial management principles provides decision makers with guidance to make capital decisions maximize mission-based benefits at effective costs (HFMA, 2005). An operating budget is the statement of profit and loss for the entire organization. Various health care entities prepare operating budget for the following year for discussion and approval by top management (Academic Writing Tips, 2011). At the end of the year, departmental managers provide an account for the previous year’s

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,

In the health care world finances play a significant role in the quality of care rendered to the consumer. There is no health care facility that is the same when it comes to their financial management because it is needed both internally and externally to ensure that it runs properly. Today’s health care field consist of either not-for-profit organizations, for-profit organizations and governmental, (Gapenski, 2008).

Healthcare organization is constantly making changes to operate at their optimal functional level and budget. There are different ways it can be determined what and where adjustments are needed to be made within the organization. A common technique or strategic plan involved is the SWOT analysis. This technique involves a discussion about the strengths, weakness, opportunities and threats in an

Selecting the most appropriate strategic plan is essential for an organizations continuous growth and development. Specifically, looking at the health care industry, Cedars-Sinai Medical Center is a world renowned medical facility, that provides high quality health care services to their patients. This consists of everything from direct patient care to research studies. As a non-profit organization, Cedars-Sinai Medical Center is still a revenue generating business. With that being said, as a business they are required to analyze various tendencies in order to make the best decision that is most beneficial for the organization, the patients and all other stakeholder’s. By identifying Cedars-Sinai Medical Center’s

Dynamic strategic planning is to expect change. In the healthcare industry, plans must be a bit flexible or altered to meet the need of all stakeholders. Also, management should understand policies, and procedures based on the law before implementation to avoid malpractice and fines. Lastly, management should utilize tools such as means-ends analysis as identified in chapter 4.4 figure 4.1 of the text, The essentials of managing in the healthcare industry (Baack & Fischr, 2013). Figure 4.1 shows a breakdown of the organization’s mission, the means in which to complete this mission or the plan, and then the end or achieved

Reinvest current net income into interest accounts for future variable health care costs for years to come

A budget is a financial document that contains a detailed plan in writing (usually in monetary form) expressing the expected financial implications of the various management strategies for attaining the organization’s primary goals and objectives in the coming financial period (Clowes, & Scriven, 2015). A budget is a very important tool for any given organization. By enabling the organization to create a spending plan for its finances, the budget ensures that the company will be able to meet all its important obligations. Given the importance of the budget, significant effort and

This paper will focus on the health-tech business and takes a look at Philips’ strategic plan, capacity plan, and how it implements these into its portfolio management process. I will be going over the program management plan and how projects are managed as well as identifying any conflicts in cost, schedule, or quality and how to resolve them. Additionally, there will be a change management plan that focuses on managing organizational and cultural changes. I will also create a resource utilization plan to analyze and plan resources.

In any management organization, planning is one key element in moving a business forward. In Health Care Administration the modern concept applies to planning leading to order. The vertical planning that combines functions of different organizations, where the patient outputs of one organization in the system are inputs of another (geographic proximity required) (Pointer, Williams, Isaacs, Knickman, & Barr, 2007 p. 24). The concept included short-term profits, mass production, and a top-down focus on patients, with the HIM professional representing a cost.

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

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.