A nonprofit, community hospital, Mercy Hospital strives to meet the health needs of all who live in our service area with quality, compassionate care. While our commitment to provide high quality health care remains unchanged, continuing national and state reform efforts will challenge us to develop new ways of delivering cost-effective care to our patients in the future. To ensure that Mercy remains a viable and vital organization, Mercy’s Board of Directors, along with our administrative team, recently completed a careful and thorough strategic planning process that will serve as a strong guide in the hospital’s future development. The goals we have set will mean our patients can continue to expect the best of care in a modern facility that …show more content…
Using extensive internal and external data, including a community phone survey of 475 people, the Board identified key initiatives critical to the hospital’s future. Focusing on quality, service, growth, people, community and finance, these initiatives provided the structure used by the Board to build the strategic plan. Quality Meet the highest standards of clinical excellence and patient safety. Goal: Increase our implementation rate of MHA patient safety initiatives. Service Provide an exceptional, personalized experience for our patients. Goal: Improve Press Ganey “overall rating of care” and “likelihood of recommending” scores in the areas of inpatient, outpatient and emergency services. People Develop dedicated leadership, management and staff to create a great place for patients to receive care, physicians to practice and employees to work. Goal: Improve employee engagement and exceed industry satisfaction standards. Goal: Enhance leadership development. Growth Enhance and grow service lines to achieve market share targets. Goal: Analyze and develop a plan to grow surgical services volume and share. Goal: Enhance outpatient services. Goal: Develop collaborative relationships with medical staff to identify growth opportunities. Goal: Interpret effects and opportunities of health care reform and Accountable Care Organizations (ACO). Community Continue an engaged partnership with the communities we serve. Goal: Track and report on our community benefit. Goal: Work jointly with Mercy Foundation to align funding initiatives. Finance Demonstrate value by achieving efficiency and performance targets. Goal: Demonstrate value through Critical Access Hospital cost benchmarks. Goal: Maintain a positive net operating margin throughout facility expansion efforts. Goal:
In this case, the reader learns that liquidity is a better than average. The ratio and cash on hand have been better than 2013 from the past years. Moreover, it shows that the hospital has a higher ability to meet its cash obligation because it has more security compared to other hospitals. Funding allows hospitals to control funds and limit investments. Not-for-profit organizations help provide more services and margin of safety. Therefore, creditors look for a margin of safety so that the community that financed a small portion of total financing can be returned to the owners by leveraging. Capitalization ratio measures the funds that were borrowed and the assets that have been used. The coverage ratio measures the number that time they fixed financial charges. The time's interest earned ratio shows the ability of the hospital to meet
I attended the Saturday Lab 1 session discussing the Denison Specialty Hospital case study. In our session, we had a through discussion into the different budget terminology. I learned about the difference between accrual and cash accounting methods, which is based on the timing of when the revenue and expenses are recognized. I also learned about responsibility centers as an organizational unit under the supervision of a manager, who is responsible for its activities and results. In addition, the manager is accountable for the budget of the department that they head. Therefore, a centralized form of management in developing the budget because it makes easier to because the information for the department budget is located
Strengths Long-standing reputation Provision of quality healthcare Highest rank in patient satisfaction Recipient of Joint Commission accreditation Serving a diverse population Weaknesses Smaller than other four hospitals Decrease in net profit Increase in expenses Significant increase in long-term debt Not-for-profit status Opportunities Changes in government regulations Change in lifestyle Influx of patients due to higher patient satisfaction Cost savings Opening of some outpatient clinics and surgery centers Threats Too much competition
Given the long duration of patient quality problems, over ten years, at SGH, the communication plan may need to include not only the internal SGH stakeholders such as employees, but also external stakeholders both in the community, shareholders, and third party vendors. SGH is at greater business risk due to their previous attempts at improving quality and now potential lack of stakeholder confidence. Including stakeholders in the change management process allows the stakeholder’s viewpoint to coevolve with SGH to create a shared view of the change plan and how to measure change success (Windsor, 2010). Engaging with the stakeholders in change plan definition and focuses their energy on helping SGH with the change process, rather than undermining it (Windsor, 2010). Identifying all of the stakeholders for SGH, and engaging them in change communications and planning will assist SGH leadership in evolving the hospital towards a high patient quality
General Practices Affiliates is considering an offer from Titus Lake Hospital to join under a provider leasing model. Under a provider leasing model, Titus Lake Hospital is purchasing General Practices Affiliates’ services. The practice will retain control of personnel, management, and practice policies. Titus Lake Hospital submitted financial reports to assure transparency during the lease agreement process. The following analysis will discuss whether Titus Lake hospital is a viable financial partner for General Practice Affiliates, possible implications of the lease, and recommendations.
It is obvious that there is a large gap between where Coastal Medical Center is and where they need and want to be. When comparing CMC’s competitors, Johnson Medical Center and Lutheran Medical Center, CMC needs to provide more efficient, high quality care and focus on more profitable priorities instead of funding multiple unsuccessful projects such as the fifty-three unfinished developments.
Honor Health is a hospital and physician provider system located in phoenix Arizona. Honor health is relatively new hospital chain, more specifically it is the result of a merger of Scottsdale hospital and the John C. Lincoln Health Network (Alltucker, 2013). Honor Health’s mission statement is relatively short, comprising only a single sentence. Their mission and vision statements are, “To improve the health and well-being of those we serve” and, “To be the partner of choice as we transform healthcare for our communities” (Honor Health, 2015). While their vision and mission statements impart a direction and goal for their organization, the vagueness of both statements may cause problems in guiding targeted strategic initiatives. This essay
Huntsville Hospital (HH), located in Northeast Alabama, part of the Huntsville Hospital Health System, originating in downtown Huntsville, Alabama in the late 1800’s. As the not-for-profit, public hospital system developed, HH became the second largest employer in Madison County, Alabama with an estimated 7000 employees, 2000 nurses and 1000 physicians.
The Centers for Medicare and Medicaid Services (CMS) have recently begun requiring hospitals to report to the public how they are doing on patient care. Brown, Donaldson and Storer Brown (2008) introduce and explain how facilities can use quartile dashboards to transform large amounts of data into easy to read and understandable tool to be used for reporting as well as to determine areas in need of improvement. By looking at a sample dashboard for an inpatient rehab unit a greater understanding of dashboards and their benefits can be seen. The sample dashboard includes four general areas, including nurse sensitive service line/unit specific indicators, general indicators, patient satisfaction survey indicators and NDNQI data. The overall performance was found to improve over time. There were areas with greater improvement such as length of stay, than others including RN care hours and pressure ulcers. The areas of pressure ulcers and falls did worse the final quarter and can be grouped under the general heading of patient centered nursing care. The area of patient satisfaction saw a steady improvement over the first three quarters only to report the worst numbers the final quarter. A facility then takes the data gathered and uses it to form nursing plan...
Consulting for the Caring Angel Hospital Working in the health care industry takes a lot of courage and patience in order to deal with different individual’s personalities and to be equipped to handle stressful situations according to the issues at hand. As a senior consultant at the Practical Health Care Consulting firm, my supervisor has instructed me to spend three months at the Caring Angel Hospital. While at the hospital there are a few tasks for improving the quality of care, adding value to the organization, improving employee morale, etc. Although these obstacles will be a challenge, there is an opportunity for improvement. This will allow the Caring Angel Hospital to increase revenue and accomplish the goals that are established.
This paper will propose the major steps that Caring Angel Hospital (CAH) could take to achieve each of the following goals: Improve the quality of care, add value to the organization, improve employee morale, design an efficient organizational chart, create a strong team environment and create the hospital’s competitive edge. It will also recommend one approach that the hospital could use for acquiring a larger market share given the prevailing financial circumstances. It will investigate two value-added services that CAH could offer to strengthen its value proposition and examples of the advantages of those services.
Trinity Community Hospital community health assessment needs was obtained from input the hospital CEO and senior management obtained input from medical staff members and community leaders to develop a vision for the hospital. A five-year plan identified orthopedic, oncology and cardiology services needed to be developed in order to better serve the community needs. A five-year targeted outcome for these services was outlined along with the level of capital investment required to develop these services. Lastly, financial analysis was conducted to determine if sufficient margin will be generated for future growth. A detail analysis of orthopedic service line is included in this paper to determine the feasibility of the proposed service line.
At Mayo Clinic, the organization is driven by the needs of the patient and providing an unparalleled experience through integrated clinical practice, research and education for all patients. Analyzing the strategic plan for Mayo Clinic and identifying and summarizing long-term and short-term plans helps to develop an outlook for the future. “US News & World Report ranked Mayo Clinic as one of the 21 “Best Hospitals” in the United States in 2009” (Jones, 2010, p. 52.), and has been on this list for last 20 y...
The cost of Medical equipment plays a significant role in the delivery of health care. The clinical engineering at Victoria Hospital is an important branch of the hospital team management that are working to strategies ways to improve quality of service and lower cost repairs of equipments. The team members from Biomedical and maintenance engineering’s roles are to ensure utilization of quality equipments such as endoscope and minimize length of repair time. All these issues are a major influence in the hospital’s project cost. For example, Victory hospital, which is located in Canada, is in the process of evaluating different options to decrease cost of its endoscope repair. This equipment is use in the endoscopy department for gastroenterological and surgical procedures. In 1993, 2,500 cases where approximately performed and extensive maintenance of the equipment where needed before and after each of those cases. Despite the appropriate care of the scope, repair requirement where still needed. The total cost of repair that year was $60,000 and the repair services where done by an original equipment manufacturers in Ontario.
Hospitals, long term care facilities, and mental health all serve as healthcare arenas serving the population in various ways. The hospital provides the most critical type of care, for the seriously ill. Hospitals originally served the poor and ill, but over time with the progression of technology and medical service specialties, they have grown to become healthcare meccas with many outlets. Over the past 30 years the degree of rigor of clinical practice and the scope of scientific knowledge has escalated greatly, and the hospital has become a center of high standards, scientific applications, and advanced technological capability (Williams & Torrens, 2008). The increasing shift of services to an ambulatory care arena facilitated by technological advancement itself has left the hospital with an evermore complex base of patient care, higher acuity, and higher costs (Williams & Torrens, 2008). Markets have changed, pricing pressures have increased, and consumer and payer expectations have evolved for hospitals, changes are constant in the medical arena, and hospitals are no exception.