Description
Project Paper:
Students will select an operational healthcare organization (n. b. public companies usually have much more information published) and complete an analysis of that firm’s strategic plan(s). Students should perform a detailed analysis of the external and internal environment, finances, future competitive strategies, and implementation strategies. Additionally, students should make recommendations for ways to improve the strategic plan, whether those recommendations are grand in scheme or suggestions for improving efficiency, costs, etc. This paper has a minimum page requirement of 10 double-spaced pages of content. Further details regarding the requirements for this paper will be posted to the assignment submission link in the Moodle course shell. Duplication of firms being reviewed is at the behest of the professor. This is an assessment assignment that must be uploaded in the Moodle Shell.
This assignment represents your capstone for healthcare management (HCM). With that in mind, you must consider all aspects of your coursework to synthesize a critically thoughtful and well-developed paper that demonstrates a strong business acumen. This assignment is being collected to represent the HCM capstone for assessment purposes.
For this assignment, please select a healthcare organization or unit within a healthcare organization. It is recommended that you chose a publicly traded healthcare organization, as publicly traded companies are required to provide the public with critical information that will help you write this paper. You are required to provide a paper, of no less than ten pages of content, outlining a strategic plan for the organization/unit you selected. Your paper must include a detailed analyses of the external and internal environment (including stakeholders), finances, future competitive strategies, and implementation strategies. As well, you should be creative in your assessment of the organization/unit, making recommendations that would be appropriate to share with the organization/unit’s decision makers.
This is your masterpiece, so aim to impress. As well, this paper is for you; it provides you with the opportunity to document and review all that you have learned. So, have fun!
All borrowed information must be cited in APA format, both in text and in reference.
This is an assessment assignment that must be uploaded in the Moodle shell
This paper is due by 11:59 PM on the Monday of Week 8.
Project Presentation:
Upon completion of the Project Paper, students will create PowerPoint presentations to outline their projects. These presentations must be delivered in a digital format with voiceover recordings delivering the content. The presentations must be between 10 and 15 minutes. Grades will depend on the visual appeal, delivery, and content of the presentation.
I will try and do a voice over once you send it. Will I be able to do that?
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
PCLI
Name
Course
University
Date
INTRODUCTION
PCLI was started in the year 1985 to provide medical and surgical eye treatment
The institution has its leading site in Chehalis, Washington
The firm runs 11 clinics, each with seven surgeons with a background in service
provision.
The firm provides different eye treatments such as glaucoma consultation, laser
correction surgery, cataract surgery, and many more
PROBLEM STATEMENT
PCLI's service demand is affected by both internal and external factors
Some of these include consumer income, the prevalence of eye complications, and the price
of substitute products.
Increasing medical cost have caused PCLI customers to opt for Canadian hospitals.
Such actions would diminish the clinic's customer base as more patients would opt for
Canadian health facilities
PURPOSE OF THE RESEARCH
PCLI is a privately owned company offering a vast range of eye services
The clinic has experienced a sharp decline in customers due to its high medical costs
The purpose of this case study is to analyze the competition that PCLI faces in the Pacific
Northwest.
The study will outline suitable procedure the firm can use in gaining a competitive advantage
Based on the increased use of cheaper Canadian hospitals, it’s imperative for the firm to
provide better and more pocket friendly price than its competition
External analysis
An external analysis focuses on the firm’s environment, including the current government
regulations, cost of material, supply chain, and the firm's competitors
New trends and issues in PCLI's general environment have not affected the performance of
the company
The firm has managed to maintain a steady yearly increase in revenue of 1.9%,
c
However, the clinic’s performance has been adversely affected by new trends and issues
such as taxation which have affected its service provision
New federal and national regulations threaten to affect the company's performance
Also, the strong dollar still hampers its operations as it makes it expensive to buy new
products
PCLI COMPETITORS
The organization still faces stiff competition from other surgical and medical
eye treatment clinics such as:
Empire Eye
Laser Vision Center
The LASIK Vision company.
Given its competitors' large size and financial strength, PCLI should consider
all its available competitive advantage strategies before implementing price
cuts that might lead it to make losses (Lawless & Hodge, 2012)
Internal analysis
PCLI has a stringent admission and treatment criteria
Patients first need be referred by their family Doctor of Optometry
(O.D.).
They then undergo counselling at the institution and undergo some
tests
Before the patient can go into surgery, Dr. Mark Everett needs to assess
the patient’s results and approve the surgery
The number of eye surgery patients is expected to increase to 70
million by the year 2030
The clinic is unequipped to handle such a number as it currently serves
60-70 patients daily
Finances
PCLI’s total assets were reported to at $3.45 million for the fiscal year that ended on March 31,
2019.
The firm’s current assets for the past three years, from 2016 to 2018, have exceeded the current
liabilities by 2.6 to 2.9.
The organization's liquidity has shown to be increasing gradually from 2016
PCLI’s revenue results amounted to $1.76 million with an operating profit of $350,000
Despite the lower customer numbers the firm managed to make a profit of 1.9%
Implementation strategies
Market Entry and Exit Strategies Evaluation
Most of PCLI’s products are in the last stage of product creation
PCLI’s main market entry strategy is through licensing received from the local health authorities and health
ministry.
The firm needs to continue to develop its licensing process for the new eye technologies it plans to purchase
The firm should also encourage innovation in the firm to gain a competitive advantage
Incorporating licensing and innovation to their market entry and exit strategy will make the firm more viable to
American patients
Implementation strategies
Synthesis and Implication Strategies
For PCLI to enter into a new market, strategy maps, market entry
and exit, and competitive strategies are analyzed.
The first step in synthesis and implication strategy is adaptive
strategies that involve product development and product
diversification
These strategy work hand in hand with licensing as it ensures that
every organization's products and services are legal according to
the land laws.
Implementation strategies
Market Growth
Most of the firm’s products are in their last stages of product production
As such the firm should conduct a BCG Portfolio Analysis to decide on which products
to retain and which to dispose of
Ginter et al. (2018) explains the Boston Consulting Group Portfolio Analysis as a method
that accesses the organization depending on a specific market
The BCG Portfolio Analysis consists of four components, namely; Stars, cash cows,
problem child, and dogs.
references
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). Strategic management of health care organizations. Hoboken, NJ: Wiley.
Lawless, M., & Hodge, C. (2012). Femtosecond laser cataract surgery: An experience from Australia. The Asia-Pacific Journal of Ophthalmology, 1(1), 5-10.
Lawrence, J. J., & Morris, L. J. (2002). Pacific Cataract and Laser Institute: Competing in the LASIK eye surgery market. Case Research Journal.
Wu, B. M., Williams, G. P., Tan, A., & Mehta, J. S. (2015). A comparison of different operating systems for femtosecond lasers in cataract surgery. Journal of
Ophthalmology, 2015
Kornmehl, E., Maloney, R., & Davidorf, J. (2006). LASIK: A Guide to Laser Vision Correction. Omaha: Addicus Books.
Morrison, J. C., & Pollack, I. P. (2011). Glaucoma: Science and Practice. New York: Thieme.
Pacific Cataract & Laser Institute. (2018). Vision by Pacific Cataract & Laser Institute. Retrieved from http://www.pcli.com
Frey, K. B. (2016). Surgical Technology for the Surgical Technologist: A Positive Care Approach. Stamford: Cengage Learning.
Fuller, J. K., & Fuller, J. R. (2012). Surgical Technology: Principles and Practice. Philadelphia: Elsevier Health Sciences.
Principles of marketing Outline
I.
Introduction
A. PCLI was started in 1985 by Dr. Robert Ford to provide medical and surgical eye
treatment.
B. The hospital has recently faced a decline in customer numbers as more customers opt
for Canadian hospitals.
II.
Problem statement
A. PCLI's product and services demand is affected by both internal and external factors
such as consumer income, the prevalence of eye complications, and the price of substitute
products such as Orthokeratology and implantable contact lenses.
B. Increased medical procedure costs deter PCLI patients since they are too expensive,
leading to lower client numbers and eventual losses.
III.
Purpose of the research
A. The purpose of this case study is to analyze the competition that PCLI faces in the
Pacific Northwest
B. Rising reliance on Canadian firms for eye surgery services has caused a decline in
PCLI patient numbers.
IV.
External analysis
A. An external analysis focuses on the firm's environment, including the current
government regulations, cost of material, supply chain, and the firm's competitors
B. New trends and issues in PCLI's general environment have not affected its income but
have severely affected its performance
V.
Internal analysis
A. Firms must recognize customers as critical assets of the company.
B.
When a firm engages in marketing, it takes the product it has made, which may not
be perfect for consumers to appeal to their specific needs.
VI.
Market Entry and Exit Strategies Evaluation
A. PCLI's main market entry strategy is through licensing received from the local health
authorities and health ministry.
B. The firm needs to continue to develop its licensing process for the new eye technologies
it plans to purchase
VII.
Synthesis and Implication Strategies
A. For PCLI to enter into a new market, strategy maps, market entry and exit, and
competitive strategies are analyzed.
B. These strategy work hand in hand with licensing as it ensures that every organization's
products and services are legal according to the land laws.
VIII.
Market Growth
A. Most of the firm's products are in their last stages of product production
B. As such, the firm should conduct a BCG Portfolio Analysis to decide on which products
to retain and which to dispose of
Running Head: PCLI
1
PCLI
Name
Institution
Date of submission
PCLI
2
Introduction
Dr. Robert Ford started PCLI in the year 1985. Dr. Robert Ford's field of specialization is
medical and surgical eye treatment. The institution has its leading site in Chehalis, Washington,
and others set aside for clinical purposes in Washington, Oregon, Idaho, and Alaska. The
Spokane clinic's daily activities are headed by Dr. Mark Everett, a clinical coordinator and an
optometric physician who later came to PCLI in 1993. At Spokane clinic, he was the resident
optometric physician. The patient care at PLCI made a lasting impression on Dr. Everett, which
made him desire and quested to be part of the institution. Laser correction surgery is not the only
service PCLI boasts of providing but also cataract surgery, glaucoma consultation and surgery,
corneal transplants, retinal care and surgery, and eyelid surgery (Lawrence & Morris, 2002).
The Pacific Cataract and Laser Institute are known for their groundbreaking services and
products. The clinic initially offered surgery services such as vision correction services and
corneal transplants (Lawrence & Morris, 2002). The clinic's services also extended to providing
medical eye treatments for its patients. The clinic has maintained a firm commitment towards
attaining surgical excellence and treating its patients. To this end, the clinic has structured its
operations to attain positive patient-focused outcomes. Currently, the firm runs 11 clinics, each
with seven surgeons with a background in service provision. The clinic has also diversified its
product portfolio to offer a broader range of services and products, including contact lenses and
eyeglasses. It also offers consultative services on top of eye surgery to ensure patients fully
comprehend the outcomes, risks, and other factors of their surgeries (Wu, Williams, Tan, &
Mehta, 2015).
PCLI
3
Problem statement
PCLI's product and services dem...