Strategic management, strategic thinking, strategic planning, and managing strategic momentum are key terminology that is commonly used by healthcare managers. Strategic management is defined as the activites and processes that organizaitons use to coordinate and align resources with the companys mission, vision, and strategy. Strategic thinking is “an ability constantly to view an organization’s operations, issues, and problems in a very broad situational and environental context and with a very long perspective” (Moseley III, 2018, p. 11). Strategic planning is used to set priorities, strengthen operations, and allows employees to work torwards the same goal (www.balancedscorecard.org). Strategic momentum is movement of the whole organization and its component as per the direction of the strategic initiatives to achieve the objectives stated by the organization. Each of these approaches are very similar as they feed off one another. I think the most important of the four is strategic planning. You have to have a plan before the others can follow. The purpose of strategic planning is to set goals and fulfill the mission. Each of these approaches is needed for managers to utilize …show more content…
Financing refers to the payment of health policies. Medicare and Medicaid are examples of financing. Finance is given to those individuals purchasing health care plans. Insurance protects the buyers from any disasters that are not affordable out of pocket. Examples of insurances include Blue Cross/Blue Shield and Cigna-Healthspring. Delivery enables individuals to receive services under their insurance plans. Providers fall under this category, which include hospitals, diagnostic centers, and nursing homes. Payment allows these providers to receive a compensation for the services provided. Examples of this also include Blue Cross/Blue Shield and