Financial planning is a key element in the implementation of the strategic plan to ensure organizational objectives are met. The objective of this paper is to continue to develop the overall strategic plan for Civista Mecial Center as they plan to implement a cardiac rehabilitation program. The projected budget will be discuseed along with financial assumptions and capital expenditure planning. The budget will be summarized and the projected budget for phases I and II will be included.
Focus of the Program
The cardiac rehabilitation program at Civista Medical Center (CMC) will be supervised by professionals with the aim of helping people recuperate from cardiac events, surgery, and cardiac procedures. The program will be designed to provide education and counseling services. Program goals are met through a multi-faceted approach with many program components including patient education, counseling, behavior changes, and exercise. The program is considered a secondary prevention schememe offeretd to patients after hospitalization. The hospital is currently facing scarce resources and the decision to implelent the program depends on many variable includeing the cost and cost-effectiveness of the program.
This financial plan will aim to estimate the costs of the cardiac rehabilitee program. Interventialnal costs related to wages will account for the number of healthcare professionals needed to implement and maintain the program. Staffing figures will be mulitipled by the average annural awage in each personnel category so to inlcued personnel costs such as pension, benefits, and vacation allowances. Hardware requirements will be included in operational expenditures along with pharmaceuticals.
Strategic Plan
Strategic ...
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..., physiciancl therapy, physician oversight, exercise physicologists, and respoiratory therapists.
Financial planning is a key element in the implementation of the strategic plan to ensure organizational objectives are met. The objective of this paper was to continue to develop the overall strategic plan for Civista Medical Center as they plan to implement a cardiac rehabilitation program. The projected budget was discussed along with financial assumptions and capital expenditure planning. The budget is summarized and the projected budget for phases I and II are as follows.
Budget Overview
Phase I (6 MONTH PERIOD)
Staffing Requirements
Quantity
Salary
Hours
Hourly Rate Total
Physician Advisor
Registered Nurse
1
2 $120,000
$60,000 70
1040 $57
$28
$3990
$58,240
In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.
With the goals of 2010 in mind, it is important for the AHA to be able to measure the actions of their employees and ensure the alignment of their behaviors with the strategic goals of the association. The Balance Score Card developed below serves as universal tool to do just that, but also sends a message to leaders and employees across the association that this is the new strategic direction the association will be moving, and this is it will be mapped and measured to ensure we reach our goals for 2010.
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 ...
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
...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.
Strategic planning is crucial for the success of all business endeavors. Analyzing currents trends in technology, consumer markets, competition, and the workforce can play a pivotal part in whether or not the organization can survive. Overtime, strategic planning strategies must be modified in order to compensate for changes in the industry. Goals and strategic planning often necessitate change to ensure that the organization is performing at peak level, while offering the most beneficial and quality services to consumers.
Overview of the organizations financial performance and its ability to invest in establishing a new unit will enable the ...
A strategic planning process is developed from a SWOT analysis (Harrison, 2010). When a nurse begins to plan strategically, this entails organization, adjustment and management to strengthen operations within the healthcare organization (Nelson-Brantley & Ford, 2017). Due to an ever-changing environment within a health
Strategic issues are the most profound issues in health services management which occurs due to lack of strategic planning in many aspects like financial planning, performance and lack of coordination in management in health care sector. To solve these issues health organizations needs proper strategic planning with acceptance of all the workers. Leaders plays vital role by making good coordination with other staff members and by making policies to take organizations to higher level . The second fundamental issues found to be as issues in successional planning which includes the replacement of experienced staff because of getting higher positions in other organizations and retirements. These issues needs to be solved by the staff members by making such situation that are easily acceptable by new employee to work in the organization. The role of the leadership is not just to manage the organization and making policies it also include providing proper facilities to the staff and the patients and management of several issues with in health care sectors. Moreover responsibilities of leadership also include making specific goals and provide certain way to the organization to achieve those goals with improvement in
DESCRIBE THE STRATEGIC CONTEXT IN WHICH QUINTANA SHOULD JUDGE MUSIMUNDO’S PERFORMANCE. WHAT ARE THE CHARACTERISTICS OF THE ENVIRONMENT THAT MUSIMUNDO COMPETES IN? WHAT ARE PEGASUS’ STRATEGIC OBJECTIVES FOR MUSIMUNDO? HOW DO THESE FACTORS AFFECT THE BUDGETING PROCESS?
A strategic plan is a tool that delivers guidance in achieving a mission or goal with maximum proficiency and control for an organization. Strategic planning is used to transform and revitalize organizations. The plan helps provide an inclusive understanding of opportunities and challenges both internally and externally for the organization. The plan delivers an assessment of the strengths and limitations that are realistic within the company. A well-developed strategic plan will offer a comprehensive approach and empowerment for the stakeholders involved. It is an opportunity for learning and understanding priorities that will drive the business to succeed. Jones (2010), describes how in health care organizations, strategic plans characteristically concentrate on operational and organizational goals such as when to obtain new technology, how to meet competitive challenges, and what staffing, tools, or facilities are needed to ensure organizational survival. The mission and value statements are significant in determining the quality of a strategic initiative. Forcing the organization to look toward the future creates proactive objectives in which both short-term and long-terms plans and goals are necessary in order to succeed.
Kaufman, Roger. Strategic Planning Plus: An Organizational Guide. Sage Publications, Inc.: Newbury Park, California, 1992.
There are different types of strategic planning that are currently in use, since this is a widely debated area of management. However, it is concluded that there are two main schools of thought, the prescriptive approach or the emergent approach (Lynch, 2012). As defined by Lynch, (2012) prescriptive strategic planning is the term given to a strategy whereby the objective of the strategy is defined in advance and the main elements are designed and develop...
The key role in solving strategic tasks belongs to strategic planning, which is the process of developing and maintaining strategic balance between organization’s goals and resources in the changing market environment. The purpose of the strategic planning is to determine the most promising fields of activity providing its growth and prosperity. Strategic planning is a component of a broader concept “strategic management”. All four management functions (planning, organizing, leading and controlling), when talking about strategic management include strategic orientation. When viewing strategic planning from the highest level possible within a company, the planning function is the area that stands out as the most important area which involves a great deal of development and focus.
The business plan will also be useful in facilitating the adoption of a strategy that will help the business prosper in the modern market. The plan will be a critical tool that will help in the production of a reliable strategy for attaining the goals and objectives. The proposed business plan will be implemented in three years time. Within the first three years, the business i...