Health Care Executive Summary

Sollman (2015), states in his article that with the right tools and planning, laboratories can position themselves as a strategic growth lever in a healthcare organization. It is estimated that more than 70 percent of healthcare is delivered outside of the four walls of a hospital (Sollman, 2015). With this trend, managing outpatient care and attracting business from community providers are more important than ever as healthcare organizations strive to maintain a healthy balance sheet. Laboratories can optimize utilization to create efficiencies and develop their services to be used by external care facilities, thus helping to drive additional revenue across the entire healthcare organization. Achieving this goal requires three strategies:

In addition, the article addresses healthcare problems, which can be effectively solved by using technology, and technology management approaches. Cited specifically are the successful applications of Lean Six Sigma, Activity based Costing, Value Stream Mapping and Supply Chain Management in driving down costs, enhancing service quality and promoting operational excellence (Chang, 2013). Also discussed are new emerging technologies, such as Service-Oriented Architecture, data mining, E-health, intelligent agents, information technologies and others, which could further enhance the operational excellence of healthcare organizations in the future. Furthermore, the article discusses the ACTION strategy, which has six decision factors which are important to the healthcare organizations, namely, economic viability, technical feasibility, regulatory compliance, risk-optimization, patient-focus and operational efficiency (Chang, 2013). The use of ACTION strategy could benefit my organization such as cutting cost, improving quality, and cycle time, which assures economic viability. Leaders in the organization could focus on best practices from both domestic and international sources eliminating any concern with respect

The team should ultimately be charged with evaluating every asset purchase request that involves significant expense. The team should develop a disciplined approach to equipment allocation and acquisition that includes: careful and objective analysis of equipment purchase requests, evaluation of existing equipment, operating environments, and clinical requirements, and projection of future clinical needs, costs, and revenues. There are several ways the organization can achieve this strategy. First, redeploying and reallocating existing equipment. Second, refurbishing and upgrading existing equipment. Third, purchasing previously owned equipment. Finally, leasing equipment can provide greater asset flexibility in addition to improving cash flow, balance sheet, and equipment life-cycle