Managing Health Care Business Strategy Action Plan

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Use your completed strategy map to formulate functional-level strategy for the primary business functions included in your plan. Functional-level strategies are the action plans used by departments within organizations to support the execution of business-level strategy at the managerial level. Create a 500-750 word action plan that addresses the following:

  1. Identify which management tactics and strategies you will implement to meet your strategic goals for each of the stakeholders, departments, or business functions impacted by your plan: MBO, MBM, single-use or standing plans, competitive advantage, contingency planning, building scenarios, crisis planning, and innovation.
  2. Provide an explanation of how you will apply managerial decision-making methods throughout your action plan.
  3. Which business functions will be impacted by your action plan? What tactics will you use to manage implementation across business functions? What can you do to enhance collaboration/cross-functionality to ensure the success of your plan?
  4. Identify leadership strategies you plan to implement throughout the execution of your action plan. In particular, explain which strategies you would implement to foster team collaboration among the multiple stakeholders who must collaborate to successfully implement the plan. Why do you think these will be successful?

While APA format is not required for the body of this assignment, solid academic writing is expected, and documentation of sources should be presented using APA formatting guidelines

This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.

Rubric

  • Plan provides a thorough and fully developed description of management tactics and strategies you will implement to meet your strategic goals for each of the stakeholders, departments, or business functions impacted by your plan: MBO, MBM, single-use or standing plans, competitive advantage, contingency planning, building scenarios, crisis planning, and innovation. Some subject knowledge is evident. Plan offers detailed evidence that justifies conclusions about personal leadership development. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
  • Plan provides a thorough and fully developed explanation of how you will apply managerial decision-making methods throughout your action plan. Plan offers detailed evidence that justifies conclusions about this vision. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
  • Plan provides a thorough and fully developed explanation of explanation of leadership strategies you plan to implement throughout the execution of your action plan, including the strategies you would implement to foster team collaboration among the multiple stakeholders who must collaborate to successfully implement the plan. Plan offers detailed evidence that justifies conclusions about these goals and objectives. Plan includes relevant examples and applicable insight. Plan demonstrates comprehensive subject knowledge and understanding.
  • Thesis is comprehensive. The essence of the paper is contained within the thesis. Thesis statement makes the purpose of the paper clear.
  • Clear and convincing argument that presents a persuasive claim in a distinctive and compelling manner. All sources are authoritative.
  • Writer is clearly in command of standard, written, academic English.
  • All format elements are correct.
  • Sources are completely and correctly documented, as appropriate to assignment and style, and format is free of error.

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SWOT Analysis Strengths (Internal/Execution) • Supporting an industry investment in IT technology to increase the production of communication. • Includes support of improving patient safety, operational efficiency, and current investments in IT infrastructure. • Greeter efficiencies of operations. • Can help integrate EMR’s from different departments. • Can collect the complete health histories of patients. • Reduce volume-based reimbursements that aren’t aligning with patients’ conditions. Weaknesses (Internal/Execution) • There is a lack of information with the system integration. • User resistance and uneducated to new technologies. • Training will be needed to ensure the efficiency of communication channels and processes. • Slow adoption of IT and integration. Opportunities (External/Environment) • • • • • • Threats (External/Environment) Increase usage of the internet. Higher costs of IT integration. Increased support for the utilization of IT in healthcare. Increase efficiencies regarding penalties of payments made to the organization. Increasing the understanding of the use of ICD-10 coding. Developing understandings of OASIS requirements. . • The growing call for industry standards are being pressured by threats of legal compliance. • There could be a loss of patient trust. • Higher costs of IT integration. • Hacking of the personal information of patients. • Increased claims for the anticipated payments submissions. Strategic Plan Over the last decade, the healthcare industry has experienced vast improvements concerning information technology. Health IT has enabled for the healthcare industry to implement technology systems that suit their needs and processes to ensure patient safety, trust, and outcome improvements. Applying technology improvements will allow Washington Regional Medical Center to enhance their communication channels with other departments located in different areas while also allowing for more efficiency concerning access to patient medical records. Technology enhancements for the organization will also include faster ways of signing orders through an e-solution system and help the process of electronic billing to avoid facing penalties in payments. This strategic plan aims to remain flexible and support both traditional and non-traditional methods the hospital experiences. This plan will increase the availability and accessibility of all patient’s information while improving the protection of their well-being and health outcomes. Improving health, the healthcare system, and reducing costs will become more efficient with the adoption of information technology and including the Patient-Driven Groupings. . Hospital Washington Regional Medical Center Strategy Map Strategy maps are utilized by both social and public organizations to clearly communicate what their strategic plan is. Importance of Strategy Map Strategy maps also highlight areas that are neglected or that could be hindered by the mission success Using a strategy map helps leaders explain how they expect to achieve success A good strategy map will entail the key landmarks such as: Financial constraints Patient/consumer/stakeholders expectations Providing unparallel care for patients and increasing communications among other locations to ensure efficient and proper documentation and profiling for medical records is accurate. Quality and Professional Medical Care Improving tools and communication Attract Research Funding Develop Leader’s for Tomorrow Recruit and Retain best nurses and professions in the field Invest in the Hospital’s Infrastructure Goal This plan will increase the availability and accessibility of all patient’s information while improving the protection of their well-being and health outcomes. References Lawlor, J. E. (2010). The importance of strategic planning. London: Observatory on Borderless Higher education Long Range Planning, 21(1), 73-81. Perera, F. D. P. R., & Peiro, M. (2012). Strategic planning in healthcare organizations. Revista Española de Cardiología (English Edition), 65(8), 749-754. STRATEGIC PLANNING: ACTION PLAN 1 Strategic Planning: Action Plan Student Name School: LDR-620 Date STRATEGIC PLANNING: ACTION PLAN 2 Strategic Planning: Action Plan Action plans are functional-level strategies designed to support the achievement of identified strategic goals (Daft, 2014). To realize the Endoscopy department’s goal of decreasing monthly supply expenses by 10% related to open, but unused supplies and supplies expiring on the shelves, a comprehensive action plan has been developed to address the necessary steps required to achieve the goal, needed level of involvement by various stakeholders, and the affected primary business functions. A management-by-objectives (MBO) action planning concept is used to organize the information. Additionally, managerial decision-making methods and leadership strategies to engage and motivate individuals are discussed. The Plan A Management-by-objectives action plan was chosen due to its benefits in that these plans have been shown to focus efforts of the team, improve team performance, increase motivation of employees, and help align department goals to the goals of the organization. MBO action plans consist of four steps that include: Setting goal, developing action plans, reviewing progress, and appraising overall performance (Daft, 2014). For this action plan, the goal to decrease supply expenses by 10% in the Endoscopy Department aligns with the organization’s strategic goal to provide care in a cost-effective manner (Sharp Healthcare, 2018). Specific plan details include action items that will be required to achieve the goal. The basic components of the action plan, including the affected stakeholder and primary business functions are as follows (Daft, 2014); (Piasecki, 2012): STRATEGIC PLANNING: ACTION PLAN Action Item How to Achieve Establish baselines using existing available data Work with Finance and Supply Chain to obtain: • Most recent physical inventory results • Monthly supply costs broken down by sub-category (focus on categories with highest expense) • Payor mix trends • Contribution margin trends Share data related to: • Shifts in payor mix • Changes to reimbursement • Year-over-year decline contribution margins Engage employees and physicians to develop a sense of urgency surrounding the need for change 3 Stakeholders • • • • • • • Assess inventory and compare to usage to establish reasonable par levels Develop a consignment program Evaluate purchase quantity options for high waste and/or single use items in large packaging Implement pre-procedure huddles to review plans for case and anticipated supplies Review progress at regular intervals Encourage innovation and ideas from those doing the work • Obtain usage reports from Finance • Obtain order reports from Supply Chain Services and the vendor • Work with vendor to establish appropriate par levels of items that tend to expire more frequently Work with vendors to identify high dollar items and items with variable demand for possible consignment opportunities so items do not expire and are not charged until used Suggested items include: • Gauze pads • Surgical lubricant • Others TBD by staff input Prior to each procedure, the team reviews plan for case, including which supplies to open and which to have available in the room, but unopened Create dashboard to track/trend: • Monthly supply expense/waste/expiration reports • Monthly inventory reports x6 months, then bi-annually Communicate progress through: • Posting dashboard in a visible location • Staff meetings/Huddles • E-mail • • • • • • • • • • • • • • • • • • • • • • Business Functions Department Leadership Supply Chain Services Finance • Finance Department Leadership Physicians Materials Specialist Clinical Staff • • Operations Human Resources Department Leadership Finance Supply Chain Services Materials Specialist Vendors Department Leadership Materials Specialist Vendors Department Leadership Materials Specialist Physicians Clinical Staff Vendors Physicians Clinical Staff • • Finance Operations • • Finance Operations • • • Finance Operations Human Resources • • Operations Human Resources Department Leadership Physicians Materials Specialists Clinical Staff Finance Supply Chain Services Board of Directors • • • Finance Operations Human Resources STRATEGIC PLANNING: ACTION PLAN 4 Managerial Decision-Making Throughout the action plan, decisions for each action item can be considered programmed decisions because the situation has occurred often enough throughout the organization, and strategies to address the situation can be adopted based on successes experienced in other departments, such as the operating room (Daft, 2014). A classical decisionmaking model was used due to this model’s applicability to the situation in that there is not a significant level of ambiguity to the problem being addressed, there are clear criteria for evaluation, and there are not major obstacles to achieving consensus among stakeholders anticipated (Daft, 2014). The personal decision-making approach/framework used throughout the action plan can be considered analytical in nature as solutions to the problem are developed based on as much data as can be compiled (Daft, 2014). Affected Business Functions Although it can be argued that all primary business functions can be affected to some degree, the ones that are affected the most and require the greatest collaboration are the functions of finance, operations, and human resources (Daft, 2014). Since the ultimate goal is to reduce expenses related to wasted and expired supplies, financial implications are present throughout nearly every action item in the plan with only a few exceptions. Operations are affected as those required to carry out the plans, particularly department leadership, the department materials specialist, physicians, and clinical staff, will face changes to how they do things in their daily work. The human resources function is affected because the employees will require some training, and also because there will be culture shift related to fiscal responsibility. The HR function will be affected long-term because when hiring new employees, attention will need to be given to each candidate’s “fit” to the new culture. STRATEGIC PLANNING: ACTION PLAN 5 Leadership Strategies Specific strategies for action plan implementation vary based upon a comprehensive analysis of internal and external stakeholders, including a power/interest assessment to help determine the level of involvement required for each stakeholder (Thompson, n.d.). For instance, the Finance and Supply Chain Services departments’ involvement is limited to providing reports and receiving communication related to progress as these groups are less interested in the clinical details required to achieve the goal. Similarly, the community board of directors is only interested in hearing about results and are not involved in the process. The vendors do require some level of engagement, but those working in the department (materials specialist, physicians, and staff) need to be highly engaged, and this is where department leadership should focus their efforts. To effectively engage physicians and staff and to facilitate collaborative efforts for achieving desired goals, leadership should employ proven strategies to engage, shape values, and motivate the team (Daft, 2014). To engage employees, leaders should be open and honest about the current financial situation to create a sense of urgency. They should also be clear about what each individual’s role is in the process and provide necessary education to help prevent resistance (Daft, 2014). To help shape values, leaders should role model expectations and discuss the topic regularly so that the staff can see that it is important, and be careful to not set too many additional priorities that could overwhelm staff and dilute efforts. To assist with on-going team motivation, leaders should communicate frequently in a variety of ways (written, visual, and verbal), show appreciation, provide support, empower creativity of the team, and celebrate successes (Kostyan, 2014). Conclusion STRATEGIC PLANNING: ACTION PLAN 6 Experts state that action plans should be complete, clear, and reflect current work (Community Tool Box, 2018). Utilizing established action plan strategies, such as the MBO plan, helps ensure plans are comprehensive and clear. Equally important to the action planning process is the decision-making methods of the leaders, along with techniques they employ to engage and motivate the individuals expected to carry out the plan. Successful realization of goals is highly dependent upon many people working from the same playbook and striving for the same outcome. STRATEGIC PLANNING: ACTION PLAN 7 References Community Tool Box. (2018). Developing an action plan. Retrieved from https://ctb.ku.edu/en/table-of-contents/structure/strategic-planning/develop-actionplans/main Daft, R. (2014). Innovative Management for a Changing World. In Management (11th ed.). Mason, Ohio: South-Western. Kostanyan, A. (2014). 15 effective ways to motivate your team. Retrieved from https://www.huffingtonpost.com/anush-kostanyan/15-effective-ways-tomoti_b_5854242.html Piasecki, D. (2012). Consignment inventory: What is it and when does it make sense to use it? Retrieved from http://www.inventoryops.com/ConsignmentInventory.htm Sharp Healthcare. (2018). About Sharp: Our story: Our mission and vision. Retrieved from https://www.sharp.com/about/our-story/mission-vision-values.cfm Thompson, R. (n.d.) Stakeholder analysis. Retrieved from https://www.mindtools.com/pages/article/newPPM_07.htm
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Running head: STRATEGIC ACTION PLAN

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Strategic Action Plan
Institutional Affiliation
Date

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STRATEGIC ACTION PLAN

Strategic Planning: Action Plan
The functional level strategy involves identifying and defining the operations that the
organization departments can implement to support the execution of the business-level strategies.
In order to realize speedy processing of the orders and availability of the referral medical
information in the concern departments of the Hospital Washington Regional Medical Center, it
is imperative to develop a comprehensive action plan which will stipulate the steps that will be
put in place to achieve the set goals. Also, success can be incorporating the relevant stakeholders
to set achievable goals. In this case, the innovation action plan will be applied within the
organization to ensure that all departments work towards implementing the new PDGM payment
method.
The Plan
The innovation action is chosen due to the benefits that it has shown in the organization.
Innovation has played a significant role in improving the competitiveness of the organization. It
has improved the efficiency within the organizational departments and allows them to work
collaboratively in the provision of quality servi...


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