Craig Hospital have significant mission, vision, and value that attract vast of citizens and allow them to succeed, achieving top ten rehab hospital in the nation. Nevertheless, Craig Hospital is in need for better strategy to support its decision logic of strategy formulation and strengthen the hospice markets as well as minimizing the risks of leveraging the resources they already possess. Diversification strategy is a great support strategy that assist the strategy formulation as it holds the key to controlling the hospital, market position, and long-term economic viability. There are two type of diversification; related diversification that focus on product and service, while unrelated diversification is more of creating a “portfolio” that …show more content…
The success of the hospital comes from strategies that have been mentions ideally to moves the organization toward achieving its mission and vision; however, in order for the organization to achieve such success requires the leader to establish a final strategic thinking to allocate to the four previous strategies that was made and align orderly. Craig Hospital has an outstanding mission and vision with highly advance research and variety of rehab programs to assist patients in recovering which are the direction and adaptive strategies. However, the hospital heavily depend on charitable fund which can cause no limits to programs and financial issues; in this case it is market entry and competitive strategies that are the weaknesses in the …show more content…
This services serves as the beginning steps of implementation strategy that is precisely plan to assure Craig Hospital is in process of achieving their goal. The second portion of the value chain which comprises the support activities, including the organization’s culture, structure, and strategies resources are called, value adding support strategies. Ideally, this part of the portion is important that the strategy is consciously aligned in order to accomplish the whole strategies. As the lower portion of the strategy is plan resulting competitive strength and weaknesses, in which allows the organization to have the upper advantage of making change in their plan and eliminate the future negative possible outcome that could happen upon the organization in the support activities. In figure 3.1, exemplify the process of how value adding support strategy should work to create momentum for the
In this case, the reader learns that liquidity is a better than average. The ratio and cash on hand have been better than 2013 from the past years. Moreover, it shows that the hospital has a higher ability to meet its cash obligation because it has more security compared to other hospitals. Funding allows hospitals to control funds and limit investments. Not-for-profit organizations help provide more services and margin of safety. Therefore, creditors look for a margin of safety so that the community that financed a small portion of total financing can be returned to the owners by leveraging. Capitalization ratio measures the funds that were borrowed and the assets that have been used. The coverage ratio measures the number that time they fixed financial charges. The time's interest earned ratio shows the ability of the hospital to meet
I attended the Saturday Lab 1 session discussing the Denison Specialty Hospital case study. In our session, we had a through discussion into the different budget terminology. I learned about the difference between accrual and cash accounting methods, which is based on the timing of when the revenue and expenses are recognized. I also learned about responsibility centers as an organizational unit under the supervision of a manager, who is responsible for its activities and results. In addition, the manager is accountable for the budget of the department that they head. Therefore, a centralized form of management in developing the budget because it makes easier to because the information for the department budget is located
Additionally, it excludes the entire hospice portion of the business. Home health has traditionally been Amedisys’ core competency, but other sectors will become increasingly important because they will assist with keeping patients in their home longer. Moreover, further diversification will require a more general vision. In turn, a more appropriate vision statement might be, “Drive growth by delivering a full range of holistic health care services, while cultivating a culture of compassion.”
A SWOT analysis was examined towards Sutter Health and its Affiliates to better understand the organizations strengths, weaknesses, opportunities, and threats. The SWOT analysis provides a breakdown of ways the organization can manage its negative aspects of weaknesses and threats to strategies a plan to overcome those concerns. In addition, the identifying of the strengths and opportunity in a SWOT analysis provides the bases of what the hospital has accomplished and how it should continue to manage those positive outcomes.
Given the long duration of patient quality problems, over ten years, at SGH, the communication plan may need to include not only the internal SGH stakeholders such as employees, but also external stakeholders both in the community, shareholders, and third party vendors. SGH is at greater business risk due to their previous attempts at improving quality and now potential lack of stakeholder confidence. Including stakeholders in the change management process allows the stakeholder’s viewpoint to coevolve with SGH to create a shared view of the change plan and how to measure change success (Windsor, 2010). Engaging with the stakeholders in change plan definition and focuses their energy on helping SGH with the change process, rather than undermining it (Windsor, 2010). Identifying all of the stakeholders for SGH, and engaging them in change communications and planning will assist SGH leadership in evolving the hospital towards a high patient quality
Determined healthcare systems routinely examine their environments internally and externally to locate significant trends and forces in the present and for the future which will have an effect on their performance goals and mission efforts. These healthcare systems understand who their stakeholders are, their needs and how best to meet those expectations and needs. These systems give attention to specific efforts on accomplishing goals that acquire opportunities in the whole environment while they continue to adjust their internal structures and functions. Precise aims are dealt with by uninterrupted sequences for performance improvements. Strategic directions for systems originate from the mission and directives. Strategic directions are identified by observing key stakeholders, addressing their interests and being proactive about responding to current, as well as, future shifts and trends in the systems’ entire environment (Skinner, 2001).
In addition to this business plan, we must also address the financial issues plaguing this organization. To illustrate some of these issues lets look at some of the trends here at OCB and within our Industry: For example, OCB’s clinic operations profitability in 1990 was 60%, and now in 1996 our profitability is only 37%, which is down 23 percentage points! We can blame some of this on rising costs of overhead, consumables, etc, however this is happening as the industry as a whole is growing 5% annually, and as our customer base, largely senior citizens, population is growing at almost 1% as year. We should be capitalizing on these industry trends, however, as you all know, not all the trends work in our favor. For example, our lifeblood, the Insurance company’s managed care organizations, and government healthcare reimbursement programs shows a downward trend of allowable payments for our services (DRGs) For example in 1995 the DRG price of ...
General Practices Affiliates is considering an offer from Titus Lake Hospital to join under a provider leasing model. Under a provider leasing model, Titus Lake Hospital is purchasing General Practices Affiliates’ services. The practice will retain control of personnel, management, and practice policies. Titus Lake Hospital submitted financial reports to assure transparency during the lease agreement process. The following analysis will discuss whether Titus Lake hospital is a viable financial partner for General Practice Affiliates, possible implications of the lease, and recommendations.
...he operating margin, cash on hand, and days in accounts receivable as these have been major factors. The new system being put in place for the materials management system should be closely monitored, as it will determine the adaptability of the department. The reformation of the Governing Board can be justified through the successes or failures it creates while going through the restructuring process. It will be important to get feedback from employees and the CEO to see if conflicts arise. The new physical therapy center will continue to be monitored to see if revenues are as high as thought with the expansion of this facility. Overall, it will continue to be a process of monitoring, reevaluating, and gathering appropriate data to determine if the strategic plan being implemented is continuously seeking the values, mission, and vision of the Coastal Medical Center.
Honor Health is a hospital and physician provider system located in phoenix Arizona. Honor health is relatively new hospital chain, more specifically it is the result of a merger of Scottsdale hospital and the John C. Lincoln Health Network (Alltucker, 2013). Honor Health’s mission statement is relatively short, comprising only a single sentence. Their mission and vision statements are, “To improve the health and well-being of those we serve” and, “To be the partner of choice as we transform healthcare for our communities” (Honor Health, 2015). While their vision and mission statements impart a direction and goal for their organization, the vagueness of both statements may cause problems in guiding targeted strategic initiatives. This essay
Hospital A before the merger was a for-profit hospital, relatively new facility, in east side of town. It consisted of 110 hospital beds, 8 of which were reserved for transitional care. Services provided were: general surgery and same day surgery, full-service rehabilitation department and radiology department. Other services included kidney dialysis center, on-site retail pharmacy, blood bank, women’s center e...
...opment is a good way to define the upcoming changes for a company from within. The first goal will pertain to the efforts of expanding the culture from inside Mayo Clinic, due to the high number of diversity seen, culture is a key goal that should integrated into play. The second goal will be used in organizational development in terms of teamwork. By the 1940s, behavioral scientists in the United States already were recognizing the value of teamwork according to Wesner (2010). “Teamwork and teambuilding are considered effective ways to improve organizational performance and development” (Wesner, 2010, p. 42). Finally the third goal is to help promote the medical school that is here located at Mayo Clinic. Since there is a threat of losing the expertise that is currently offered the organizational development and strategically planning should be driven by this fear.
The purpose of this case study is to investigate and bring new insight to situations and behaviors within an organization. Case studies are learning tools which utilize social science research to identify and resolve individual and organizational challenges (K. Mariama-Arthur Esq., 2015).
Explain how the company’s value-chain activities can be better linked to create value for the company.
With regard to the healthcare organization, it is essential to develop a strategic plan and a clear vision so that the patient focused care will be at par with the organizational process that is conducted operationally and on a daily basis. SSM Health Care has its call letters for meetings standardized at all their sites as part of its protocol. Its values and missions are attached to its call letter for meetings as constant reminders for their staff. Indirectly, this approach helps in translating our vision on how people should behave at SSM Health Care.