Describe Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic

Describe positive and negative aspects of abandoning traditional healthcare

PART I – develop an essay to address the following information:

• Reflect on the mission, vision, values, and goals of your healthcare organization and provide examples of how individual employees, departments, and work units support all four of these as a foundation for directional strategies.
  

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• Describe positive and negative aspects of abandoning traditional healthcare strategic planning processes and adopting a contemporary approach.
• How does complexity influence budget strategies and their implementation? Give examples.

• Discuss the process of external and internal environmental analyses, and then speculate on scenarios that may result if these steps in strategic planning are omitted or are not done well.
• Discuss mechanisms that nurse manager can use to ensure they make the best decisions for supporting the financial goals of the organization.

• Identify an opportunity for implementing a new service or a cost-reducing idea in your organization and write a business plan to describe your idea: explain the need (why) for it, identify stakeholders (who) will be impacted, discuss the benefits versus the disadvantages, describe the costs/expenses for the idea, and outline the implementation plan. Describe Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic

Expert Answer and Explanation

PART 1: Strategic Healthcare Management

Planning is a concept that is used every day in our personal lives and the same behavior also translates into the management of organizations.  The top leadership of organizations usually formulate strategies to meet the mission and vision of their organization. It is important because with every organizational activity, risk and resources are usually involved and they have to be adequately managed lest the organization loses its ability to function properly. The purpose of this paper will be to expound on different aspects concerning the application of strategic management practices in healthcare.

Support for Mission Vision, Values, and Goals

The organization is usually driven by its mission, vision, values, and goals formulated. The efforts of all individuals and organs functioning within the organization should be aligned to realize the accomplishment of these elements. A mission statement is one that highlights where the organization is going (Cronin & Bolon, 2018). For example, the mission for the healthcare facility I work for is “to provide quality and compassionate healthcare accessible to everyone.”

Vision on the other hand is the future position of where the organization wants to be, while the values are the beliefs and practices uphold by the organization (Lahey & Nelson, 2020). The values for the organization I work for include teamwork, integrity, excellence, innovation, and compassion. Our goals are aligned to meet the said mission and vision of the organization while using our core values during our transactions with other stakeholders.

The role of individual employees, departments, and work units in accomplishing this mission is to ensure that they channel all their efforts into fulfilling this mission. This includes identifying and removing any barriers that may hinder collaboration or promote conflicts due to differences in personal goals and objectives (Lahey & Nelson, 2020). Describe Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic

It is also the role of individual employees and work teams to collect information on behalf of the organization on what other competing organizations are doing to accomplish goals employees can also support all the four elements by ensuring that they align how they discharge their duties with the values of the organization.

Impact of Adopting a Contemporary Approach to Strategic Planning

Strategic planning was developed due to the increased complexity of how the economy and organizations operate (Esfahani et al., 2018). The used traditional approach was a systematic process that emphasized on the mission and vision of the organization without considering other factors as equally important.

The processes also involved coming up with the short term, medium, and long-term objectives, which were to be followed to the latter to gain a competitive edge. However, this approach had its drawbacks which made it be abandoned for a contemporary approach that was considered to be more responsive to the current business environment (Grube & Crnkovich, 2017).

One of the positive aspects of abandoning the traditional approach to strategic management and transitioning to the contemporary approach is that a more responsive process that factors in day to day operational issues is considered. This means that organizations can easily make adjustments to their strategic decisions based on the current changes in operations.

Another positive aspect of adopting a contemporary approach is that it treats strategic planning as a process and not an event (Grube & Crnkovich, 2017). This means that it is continuous and adjustable to changes in both the internal and external organization environment. The negative aspect is that the contemporary approach does not offer a predictable methodology or timeframe to strategic planning as it was with the traditional approach.

Budget Strategies

The current environment in the management of healthcare organizations has become more and more complex with increasing risks and stakeholders to transact with. This has also made healthcare financial managers restructure their methods to adjust to these complexities; this includes the budget-making process and implementation. One of the complexities has been the adoption of the contemporary approach to strategic planning that requires adjustment of organizational strategies with changes in the internal and external business environments (Walsh, 2016). Describe Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic

Given that these adjustments can be abrupt, it becomes difficult to forecast and give accurate budgetary figures in an environment of uncertainty (Hill, 2016). Another factor is the addition of more stakeholders involved in decision making. This means that more data needs to be collected to make accurate budgetary forecasts which can also be time-consuming (Hill, 2016). As such, there is also a likelihood that the budget implementation timelines will also be affected.

Process of External and Internal Environmental Analyses

In the strategic management process, one of the core steps is to carry out an internal and external organization analysis. This allows the organization to collect its efforts in response to the findings of the two analyses. The process of carrying out environmental analysis is a five-step process that includes; first an analysis of the external environment (Esfahani et al., 2018). This involves evaluating the political social, economic, legal, environmental, and technological factors that may affect the organization and its processes.

The next step is to analyze the industry and organization’s competitors, including how they operate, what they are doing differently, and what can be learned from them. The third step is to establish any external factors that can pose a threat to the organization, for example, a new product developed by the competitor, and opportunities that can be capitalized by the organization, for example, the adoption of new technology.

After doing so, an analysis of the internal organizational strengths and weaknesses needs to be undertaken, and finally noting down the collected information and establishing the need for strategic action (Esfahani et al., 2018)

If these steps are omitted in the strategic planning process, the organization is likely to formulate strategies that are not helpful in the accomplishment of its goals and the needs of its stakeholders. A scenario example is when an external analysis is omitted, this means that the organization may develop strategies that fail to adhere to the current industry regulations, which will mean that the organization’s operations have a risk of being conducted illegally.

Mechanisms a Nurse Manager Can Use to Make Best Decisions

Nurse managers are supposed to make sound decisions that are going to be in line with the goals of the organization, including financial goals. Some of the mechanisms which can be adopted to assist in doing so include the following. One of the mechanisms is the adoption of a lean thinking approach to decision-making. This is a quality management technique that involves creating processes that have as minimal waste as possible but at the same time making sure that the quality of services is retained at optimum (Magalhães et al., 2016).

By using this approach, a nurse manager can improve the efficiency of resource utilization through waste reduction. Another mechanism is by application of knowledge management systems. These are systems that collect information from the organization which in turn facilitates proper decisions to be made (Tretiakov et al., 2017). Using this approach, resources will only be used in those areas where they are needed based on the collected data.

Conclusion

This paper has highlighted different aspects concerning strategic management and planning. It has been established that the aspect of strategic planning has changed with the process becoming more dynamic and as a result complex. The complexities have in turn affected organizational processes such as budgeting which need to be factored in to successfully manage the organization. Using the collected information, one can learn how to adjust to ensure successful management of the organization.

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References

Cronin, C. E., & Bolon, D. S. (2018). Comparing hospital mission statement content in a changing healthcare field. Hospital topics, 96(1), 28-34. https://doi.org/10.1080/00185868.2017.1366188

Esfahani, P., Mosadeghrad, A. M., & Akbarisari, A. (2018). The success of strategic planning in health care organizations of Iran. International journal of health care quality assurance. Vol. 31 No. 6, pp. 563-574. https://doi.org/10.1108/IJHCQA-08-2017-0145

Grube, M., & Crnkovich, P. (2017). giving a consumer focus to strategic planning: Having a strong consumer focus has become a fundamental organizational competency in today’s US healthcare system. Healthcare Financial Management, 71(11), 44-51. Retrieved from: https://www.hfma.org/topics/article/56575.html

Hill, L. E. (2016). Pioneering a rolling forecast: a North Carolina health system that switched from a traditional to a rolling budget process found the conversion offered a unique perspective of its financial picture. Healthcare Financial Management, 70(11), 58. Retrieved From https://www.stratadecision.com/wp-content/uploads/2016/11/Pioneering-a-Rolling-Forecast_HFM.pdf

Lahey, T., & Nelson, W. (2020). A Dashboard to Improve the Alignment of Healthcare Organization Decision-making to Core Values and Mission Statement. Cambridge Quarterly of Healthcare Ethics, 29(1), 156-162. https://doi.org/10.1017/S0963180119000884

Magalhães, A. L. P., Erdmann, A. L., Silva, E. L. D., & Santos, J. L. G. D. (2016). Lean thinking in health and nursing: an integrative literature review. Revista Latino-Americana de Enfermagem, 24. http://dx.doi.org/10.1590/1518-8345.0979.2734

Tretiakov, A., Whiddett, D., & Hunter, I. (2017). Knowledge management systems success in healthcare: Leadership matters. International journal of medical informatics, 97, 331-340. https://doi.org/10.1016/j.ijmedinf.2016.11.004

Walsh K. (2016). Managing a Budget in Healthcare Professional Education. Annals of medical and health sciences research, 6(2), 71–73. https://doi.org/10.4103/2141-9248.181841. Describe Positive and Negative Aspects of Abandoning Traditional Healthcare Strategic