Health Care Executive Summary

analytical Essay
1268 words
1268 words

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: …show more content…

In this essay, the author

  • Explains how laboratories can position themselves as a strategic growth lever in healthcare organizations with the right tools and planning.
  • Explains that using a lis can provide connectivity to community providers for easier sharing of clinical reports. this in itself improves patient outcomes across the care continuum.
  • Analyzes how chang (2013) discusses the critical issues related to cost, quality, and access, all of which affect diverse stakeholders involved in the healthcare systems.
  • Describes the benefits of implementing action strategy, including cutting costs, improving quality, and ensuring economic viability.
  • Analyzes how macstravic (2008) discusses the use of de-marketing, which is a marketing mix of product, price, place, and promotion.
  • Explains that de-marketing options are more effective and more in keeping with the organization's missions, compared to devising ways to discourage use alone. this may make it easier for organizations to reduce overuse of particular services.
  • Analyzes the impact of the governing board's composition on rural hospitals' involvement in provider-sponsored managed care organizations.
  • Explains that the strategy outlined above could benefit their organization as they acquire more rural healthcare facilities. the leaders need to visit the hospitals' board compositions before actively pursuing strategic action.
  • Recommends that organizations develop an effective asset-management strategy that includes senior financial executive and other executive leaders assembling a team of representatives who might be affected by the strategy.
  • Opines that a well-planned asset-management plan is essential in any healthcare organization's strategy to increase its profitability.

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 …show more content…

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

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