Wait a second!
More handpicked essays just for you.
Importance of strategic planning in healthcare
Importance of strategic planning in healthcare
Don’t take our word for it - see why 10 million students trust us with their essay needs.
More handpicked essays just for you.
Importance of strategic planning in healthcare
Importance of strategic planning in healthcare
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Organizations are establishing themselves in a new market to provide a needed service, increase customers and expand brand awareness. An organization’s growth strategy plays a vital role in the long-term sustainability of its healthcare system. Market penetration comes with the benefit of reaching additional customers in a business’s primary market and the potential to increase revenue. A marketing plan enables an organization to apply its values, mission, and capabilities to increase its sales, reach its objectives and sustain a competitive advantage with the purpose of improving its market shares (Cellucci, Wiggins & Farnsworth,2013). A company’s strategic plan will support and maintain its long-term growth objectives by building a solid
Southeast Medical Center system needs formal strategic plan with input and a high degree. The CEO built the strategic plan for Southeast Medical Center on privatization and converting it to a private, not-for-profit corporation. The CEO believed that the hospital would be better off as a successful private organization than public. The CEO believed that by being a privatized company they would be able to borrow money easily. However through the years the CEO’s choice of becoming a privatized organization began to lose the company’s inability as a private corporation.
Ultimately benefitting every stakeholder and member at every level of the facility, West Anaheim Medical Center's need for a well-developed strategic plan remains critical to their success as a large health organization. The strategic planning process itself initially begins with the board of directors, but eventually involves all levels of managerial and operational functions of the medical center. Authors Cleverley and Cameron (2007) imply that the board plays the crucial role in such a complex and intensive process. A noteworthy strategic plan strengthens the center's adaption to change, providing more certainty towards future uncertainties. For example, the implementation of the Patient Protection and Affordable Care Act of 2010 took several years after it was established as a health care reform to take effect.
"There are steps that will proactively and effectively create a flexible strategic plan for the present and the future of the clinic that will withstand all internal and external challenges." (Springer, Journal of the Academy of Marketing Science. 2015)."Having a strategic plan, means following a variety of common practices recommended for strategic planning-having a comprehensive plan, involving physicians, involving the board, and implementing the plan. About one-half of the hospitals assigned responsibility for the plan to the CEO." (Journal of Healthcare Management.
Retrieved from https://catalyst.nejm.org Harrison, J. (2016). Essentials of Strategic Planning in Healthcare (Second ed.). Chicago, IL: Health Administration Press. HFMA Learning Solutions, Inc. (2018).
Strategic planning is matching the strengths of an organization to its available opportunities (textbook). To effectively plan strategically the organization must first analyze and collect information about the industry, in which the organization operates. Strategic planning focuses on the interaction with environmental forces, which include competitors, government, and suppliers (textbook). One organization may be able to get more from a supplier than a competitor based on the established relationship. The ability to implement strategic planning is critical for the survival of any organization.
For effective planning, the stakeholder should understand strategic planning as an activity with a transformational purpose. It takes into account the prevailing situation of the organization and the setting in which the organization operates and generate a vision of the future of the organization. The process also defines a roadmap and actions for transforming the current situation to the desired future. Many factors justify the need for strategic planning in healthcare
1. It is imperative to point out that the global perspective of healthcare market environment and the wide range of its components has ensured healthcare marketers are often pressed with strategic management responsibilities to steer the institution the complex environment. Typically, the complexity of the healthcare environment is due to the placement of the premium excellence in strategic management which require insightful and visionary leadership to position the healthcare organization for a long-term growth and prosperity. Indeed, the need for the healthcare professionals to understand a variety of tools that can help them formulate, implement, manage and assess strategies in an healthcare organization in addition to marking communication
Planning is the key to all elements of medical practice management and cannot be ignored as the main factor in maintaining financial
Weapons of World War I World War I, ‘The Great War.’ Over 60 million men fought in the war to end all wars, it ended nothing. The conditions and state the battlefields were left were indescribable, all because of the newly introduced weapons and weapon systems.
The changing climate as a result of the advent of value-based care continues to place significant demands on hospitals, medical providers, healthcare organizations, and physicians to take a completely new look at the marketing strategy. A coherent strategy and sustained quality are critical in today’s healthcare market to attract new patients, retain existing clients, and maintain positive and productive relationships between the patients and hospital staff. To be viable today, healthcare organizations have to utilize effective strategic planning to develop integrated marketing strategies that makes it efficient and easy for the target population to identify what they need, make informed decisions, and provide insights and new information – not just basic promotion. Also, such efforts have to be constantly evaluated to ensure highest quality that fosters better outcomes and more value for the
Essentially a strategic plan is an extensive inspection at where the organization is, where it wants to be, and how it can get there. The
However, in practice, the extent to which strategic planning constitutes a learning process seems to vary widely. Some authors argue that formalized strategic planning processes discourage learning and may thus be counterproductive to the effectiveness of planning. Despite the importance of strategic planning for management, little empirical evidence has been
CONCEPT 3: THE RELEVANCE OF STRATEGIC PLANNING IN NURSING PRACTICE This concept is taken from Block 2, Module 3 which is entitled as ‘Elements and Process of Administration-1’. Strategy can be defined as plan of action designed to accomplish or fulfill a certain task. Planning is the act of making course of action or formulating plans. Margaret Rouse defined Strategic planning as a review and planning process that is undertaken to make thoughtful decisions about an organization’s future in order to ensure its success.
It is the planning before the action. In includes many activities like making decisions, making strategy for organization etc. At this time strategic planning is an important part of strategic management. Strategy describes how the goal achieves by using the available resources or what kind of resources they need to achieve the goals. This strategy is used when the organization wants to set the goals and wants to make the planning to achieve these goals by available resources.