Assignment Question

Introduction Within the last 10 years, the health care industry has seen big changes, not only in philosophy but also with the implementation of the Affordable Care Act. There have been changes in political, economic, social, technological, legal, and environmental factors that influence strategic planning. Americans desire increased quality patient care, wellness, and prevention programs. Health care organizations are seeing changes in volume and demographics related to their patients, along with labor and technologies related to the health care organization. For this assignment, select a health care organization from the following list: St. David’s HealthcareLinks to an external site. American Academy of PediatricsLinks to an external site. Massachusetts General Hospital’s Department of NeurologyLinks to an external site. Imagine you have been selected by the facility’s executive committee to develop a strategic plan that aligns with the organization’s mission and vision. Use critical thinking skills and research current events of your chosen organization to prepare your assignment. Assignment Write an 8-10 page strategic plan. Your plan must include the elements listed below. Differentiate between strategic management, strategic thinking, strategic planning, and managing strategic momentum. Propose one specific analytical tool suitable for use as an adaptive strategy that will be the most effective in helping an organization achieve its strategic plan. Propose the manner and provide an example of how the selected analytical tool will be used to support the strategic proposal. Research three internal and three external factors that could become barriers to the success of the proposed strategic plan. Recommend at least one solution to each of the possible barriers to implementing your proposed strategic plan. Determine the specific segment of the market that your organization’s strategic plan will target. Recommend the most effective approach to marketing your strategic plan and provide examples. Use at least three quality academic resources. Use the Basic Search: Strayer University Online Library for resources. Note: Wikipedia and similar websites do not qualify as academic resources. Meet requirements for clarity, writing mechanics, and formatting. This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions. The specific course outcome associated with this assignment is: Design a comprehensive strategic plan that accounts for the internal and external factors that impact an organization.

Answer

Introduction

Over the past decade, the United States’ healthcare industry has undergone a profound transformation, primarily influenced by the enactment of the Affordable Care Act. This landmark legislation has ushered in a new era of healthcare, marked by significant shifts in the political, economic, social, technological, legal, and environmental factors that shape the strategic landscape for healthcare organizations. With the implementation of this healthcare reform, organizations like St. David’s Healthcare find themselves at a critical juncture. The demand for higher-quality patient care, preventive programs, and wellness initiatives has intensified, challenging healthcare entities to adapt and innovate in order to meet these evolving expectations.

Patient demographics have shifted, with an aging population and a rise in chronic diseases, necessitating healthcare organizations to respond to new healthcare needs. Alongside these demographic changes, the healthcare labor force has been impacted, where shortages in key medical professions, such as nursing and primary care, have become more pronounced. Moreover, technological advancements in healthcare, such as electronic health records (EHRs) and telemedicine, have brought about new opportunities and challenges. These developments underscore the imperative for healthcare organizations like St. David’s Healthcare to develop strategic plans that are not only responsive to these changes but also aligned with their core mission and vision.

Differentiation between Strategic Management, Strategic Thinking, Strategic Planning, and Managing Strategic Momentum

Strategic Management

Strategic management is the comprehensive approach that healthcare organizations like St. David’s Healthcare employ to set objectives, scrutinize internal and external environments, make informed decisions, and take calculated actions aimed at achieving the organization’s long-term goals (David, 2017). It encompasses the entire process of formulating, implementing, and evaluating strategies that encompass all aspects of the organization’s operations. In the context of St. David’s Healthcare, strategic management entails overseeing the allocation of resources, monitoring healthcare trends, and responding to emerging challenges and opportunities, all while upholding the organization’s commitment to quality patient care.

Strategic Thinking

Strategic thinking within healthcare organizations like St. David’s Healthcare involves harnessing cognitive and creative processes to make sense of the evolving healthcare landscape, anticipate future opportunities, and formulate innovative strategies (Hitt et al., 2020). It emphasizes the development of forward-looking ideas and a long-term vision that aligns with the organization’s mission. St. David’s Healthcare can foster strategic thinking by nurturing a culture of innovation, where employees at all levels are encouraged to contribute their insights and ideas. This inclusive approach can lead to the emergence of creative solutions to complex healthcare challenges.

Strategic Planning

Strategic planning serves as the structured process by which healthcare organizations like St. David’s Healthcare define their future direction, allocate resources efficiently, and lay out detailed plans to achieve their organizational goals (Thompson et al., 2020). It is marked by the establishment of clear, measurable objectives, a comprehensive analysis of the healthcare environment, and the development of detailed plans that specify how the organization intends to meet its mission and vision. For St. David’s Healthcare, strategic planning means setting the course for the delivery of high-quality healthcare services, preventive programs, and wellness initiatives that resonate with their patient population.

Managing Strategic Momentum

Managing strategic momentum is an essential function within healthcare organizations like St. David’s Healthcare. It involves dynamically executing and adapting strategic plans to changing circumstances, monitoring progress, making necessary adjustments, and ensuring the organization remains aligned with its goals amidst a rapidly evolving healthcare environment (Nag et al., 2021). To effectively manage strategic momentum, St. David’s Healthcare must establish a system for ongoing performance evaluation, engage in regular reviews of the strategic plan, and maintain the flexibility to adjust strategies when needed to achieve the desired outcomes.

These four dimensions of strategic management, strategic thinking, strategic planning, and managing strategic momentum represent the essential framework within which St. David’s Healthcare navigates the complex and ever-evolving healthcare landscape. These elements are interconnected and complementary, working together to ensure the organization remains responsive, innovative, and aligned with its mission and vision.

Proposing an Analytical Tool for Adaptive Strategy

To effectively execute its strategic plan, St. David’s Healthcare can employ the Balanced Scorecard (BSC) as an adaptive analytical tool. The BSC provides a holistic view of the organization’s performance, encompassing financial, customer, internal processes, and learning and growth perspectives (Kaplan & Norton, 1992). For a healthcare organization like St. David’s Healthcare, this means measuring success not only in financial terms but also by evaluating patient satisfaction, internal process efficiency, and staff development.

Using the Balanced Scorecard

The Balanced Scorecard is a powerful tool for St. David’s Healthcare to implement, as it allows for a comprehensive assessment of the organization’s performance in various key areas. To employ the BSC effectively, the organization can identify specific key performance indicators (KPIs) within each of the four perspectives. Under the financial perspective, St. David’s Healthcare may track KPIs such as revenue growth, cost reduction, and profitability. By focusing on these financial indicators, the organization ensures the sustainability of its operations and its ability to invest in initiatives that align with its mission and vision. In the customer perspective, patient satisfaction scores, and patient retention rates can serve as pivotal KPIs. St. David’s Healthcare recognizes that patient satisfaction is not only a measure of the quality of care but also a driver of loyalty and repeat business. By regularly monitoring these indicators, the organization can identify areas for improvement and optimize patient experiences.

Within the internal processes perspective, St. David’s Healthcare can assess the average length of patient stays, waiting times for appointments or procedures, and the quality of care indicators. By tracking these KPIs, the organization can streamline internal processes, reduce inefficiencies, and ensure the delivery of high-quality healthcare services. In the learning and growth perspective, KPIs may include staff training hours and employee turnover rates. St. David’s Healthcare acknowledges the vital role that a well-trained and motivated workforce plays in achieving its mission. By investing in employee development and monitoring staff turnover, the organization can ensure that it has a skilled and engaged workforce to deliver quality care. The Balanced Scorecard provides a comprehensive framework for St. David’s Healthcare to evaluate its performance from multiple angles. By aligning KPIs with each perspective, the organization can effectively measure and adapt to changes in the healthcare environment, ensuring that it remains responsive and aligned with its mission and vision.

Identifying Barriers to Success and Recommending Solutions

Internal Barriers

a. Resistance to Change

Resistance to change is a common internal barrier within healthcare organizations, often stemming from employees’ fear of disruption, increased workloads, or the uncertainty that change may bring. To address this challenge, St. David’s Healthcare can implement a multifaceted strategy:

Inclusive Planning: Involving employees at all levels in the planning process can help overcome resistance to change. By seeking input from those directly affected by the changes, the organization can build a sense of ownership and commitment to the strategic plan. It is essential that healthcare professionals are actively involved in the planning, as their insights are invaluable for understanding the practical implications of proposed changes.

Clear Communication: Effective communication is key to overcoming resistance. St. David’s Healthcare should provide clear and transparent information about the reasons for the changes, the expected benefits, and the support available to employees during the transition. Clear, consistent, and ongoing communication is vital to managing staff expectations and ensuring a smooth transition.

Training and Development: Offering training and development opportunities to staff members can help them acquire the skills and knowledge needed to implement new strategies. This approach not only addresses resistance but also enhances the capabilities of the workforce. St. David’s Healthcare can provide training programs that align with the strategic goals, ensuring that employees are equipped to contribute effectively.

Financial Constraints

Financial constraints are a significant internal barrier in the healthcare sector, where budgets are often limited, and funding is challenging to secure. To overcome this challenge, St. David’s Healthcare can consider several solutions:

Cost-sharing Agreements: Exploring partnerships and cost-sharing agreements with other healthcare organizations can help alleviate financial constraints. By pooling resources with like-minded organizations, St. David’s Healthcare can access the necessary funding and expertise to implement its strategic plan. Collaborative arrangements allow organizations to share costs while pursuing common goals.

Grant Opportunities: Actively seeking and applying for grants and funding from governmental and non-governmental sources can provide additional financial resources. Grant opportunities are often available for specific healthcare initiatives and community outreach programs. St. David’s Healthcare can designate staff members or departments responsible for identifying and applying for relevant grants.

Revenue Cycle Optimization: An efficient revenue cycle management system can improve cash flow and financial stability. St. David’s Healthcare can focus on streamlining billing and reimbursement processes, reducing denials, and ensuring timely collections. A well-optimized revenue cycle can bolster the organization’s financial health and provide the necessary resources for implementing its strategic initiatives.

Technological Challenges

Staying abreast of rapidly evolving healthcare technologies can pose a significant internal barrier to strategic planning and implementation within healthcare organizations. To address this, St. David’s Healthcare can consider the following strategies:

Staff Training and Development: Investing in ongoing training and development for staff members can ensure that they are well-versed in the latest technologies and can utilize them effectively. This includes training in electronic health records (EHRs), telemedicine, and data analytics. St. David’s Healthcare should allocate resources for continuous education and development to equip its workforce with the skills needed to leverage technology.

Technology Partnerships: Collaborating with technology companies can provide access to cutting-edge healthcare solutions without the organization having to develop them in-house. Such partnerships can help St. David’s Healthcare stay at the forefront of technological advancements. Collaboration with technology providers and innovators allows the organization to leverage external expertise and resources.

Technology Adoption Strategy: St. David’s Healthcare can develop a clear strategy for adopting new technologies. This strategy should include a careful assessment of the organization’s current technology infrastructure, the identification of technology needs, and a roadmap for technology implementation. It is essential to have a structured approach to technology adoption, considering factors like interoperability, data security, and user training.

External Barriers

Regulatory Changes

Frequent changes in healthcare regulations can be a significant external barrier to strategic planning for St. David’s Healthcare. To address this challenge, the organization can consider the following solutions:

Compliance Team: Establishing a dedicated compliance team or officer within the organization can help keep abreast of regulatory changes and ensure that St. David’s Healthcare remains in compliance with all relevant laws and regulations. This team should be responsible for monitoring changes in healthcare regulations, conducting impact assessments, and communicating changes across the organization.

Regulatory Monitoring: Regularly monitoring changes in healthcare regulations at the federal, state, and local levels can provide early awareness of upcoming changes. St. David’s Healthcare can subscribe to regulatory alerts from governmental agencies and professional organizations to stay informed. Regular training and education on regulatory compliance can ensure that employees are aware of and prepared for changes.

Legal Consultation: Seeking legal counsel from experts in healthcare law can provide valuable insights and guidance on regulatory compliance. Legal experts can assist in interpreting and adapting to new regulations, ensuring that the organization remains in full compliance. Legal counsel can also provide advice on potential legal risks and help the organization navigate complex legal issues.

Market Competition

Increased competition in the healthcare sector can threaten St. David’s Healthcare’s market share and revenue streams. To address this external barrier, the organization can consider the following strategies:

Unique Value Proposition: St. David’s Healthcare can focus on developing and promoting its unique value proposition. This involves identifying what sets the organization apart from competitors and emphasizing these strengths in marketing and patient engagement. The organization should conduct a thorough analysis to determine its unique selling points and align its strategic initiatives with these strengths.

Service Expansion: Expanding the range of healthcare services offered can help capture a broader market share. St. David’s Healthcare can assess the needs of the local population and consider adding specialized services or facilities to address these needs. Expanding services can attract new patients and enhance the organization’s competitiveness.

Patient-Centered Care: A patient-centered approach can set St. David’s Healthcare apart from competitors. By focusing on delivering an exceptional patient experience, the organization can attract and retain patients, even in a competitive market. Patient-centered care involves active listening to patient needs and preferences and tailoring services to meet those expectations.

Public Perception

Negative public perception can impede success for St. David’s Healthcare. To mitigate this external barrier, the organization can consider the following strategies:

Public Relations and Communication: St. David’s Healthcare can invest in a robust public relations and communication strategy. This includes regular communication with the community, responding to feedback, and addressing concerns transparently. The organization should establish a dedicated public relations team or work with external agencies to manage its public image effectively.

Community Engagement: Actively engaging with the local community through health fairs, senior community events, and collaborating with local senior centers can improve the organization’s reputation and foster positive public perception. Engaging with the community through events, sponsorships, and partnerships demonstrates a commitment to the local population.

iii. Quality Reporting: St. David’s Healthcare can make its quality data and outcomes transparent to the public. Sharing positive patient outcomes and quality measures can enhance trust and confidence in the organization. The organization should regularly report on its quality indicators through its website, annual reports, and other public communications.

These strategies not only help address external barriers but also contribute to building a positive image of St. David’s Healthcare in the community, fostering trust, and supporting the achievement of the organization’s mission and vision.

Target Market Segment and Marketing Strategies

The specific market segment that St. David’s Healthcare will target comprises adults aged 45 and older who reside in the Austin, Texas metropolitan area. This demographic represents a significant portion of the population that requires healthcare services and is more likely to have healthcare needs and concerns. To effectively target this segment, St. David’s Healthcare will employ a combination of marketing strategies:

Personalized Healthcare Plans: Tailoring healthcare services and wellness programs to meet the unique needs of older adults is a key strategy. St. David’s Healthcare can develop specialized healthcare plans that consider age-related health issues and preventive care measures. These plans may include routine health check-ups, screenings for common age-related conditions, and personalized wellness programs to promote healthy aging.

Community Outreach: Engaging in health fairs, senior community events, and collaborating with local senior centers can help St. David’s Healthcare connect with the target demographic. These events provide opportunities for health screenings, educational seminars, and networking. By actively participating in community events, the organization can build trust and visibility among older adults and their caregivers.

Telehealth Services: Offering telemedicine options is crucial to improving accessibility for elderly patients. St. David’s Healthcare can promote telehealth services for routine check-ups, follow-up appointments, and consultations with specialists. Telehealth provides a convenient and safe way for older adults to access healthcare services, especially in situations where mobility may be limited.

Partnerships with Geriatric Specialists: Collaborating with geriatricians and specialists in the field of gerontology can enhance the quality of care provided to older adults. St. David’s Healthcare can establish referral networks and ensure seamless care coordination for complex medical issues that are more common in older populations. By partnering with specialists, the organization can offer comprehensive and specialized care.

Online Presence: Enhancing the organization’s online presence is essential for reaching the target demographic, including older adults and their caregivers. St. David’s Healthcare can invest in a user-friendly and informative website, develop active social media profiles, and use online advertising to connect with older adults. A well-designed website that provides educational resources, appointment scheduling, and telehealth options can facilitate patient engagement.

Patient Education: St. David’s Healthcare can invest in patient education programs specifically designed for older adults. Providing resources and workshops on topics such as managing chronic conditions, healthy aging, and preventive care can empower this demographic to take charge of their health. Education can be delivered through in-person seminars, online resources, and printed materials.

Geriatric-Friendly Facilities: Adapting physical facilities to cater to the needs of older adults is essential. St. David’s Healthcare can ensure that its facilities are equipped with amenities that accommodate mobility issues and provide a comfortable environment. Features such as ramps, handrails, and comfortable waiting areas can enhance the patient experience for older adults.

Caregiver Support: Recognizing the role of caregivers in the care of older adults, St. David’s Healthcare can provide support and resources to caregivers. This may include educational materials, respite care options, and support groups. Caregiver support programs can ease the burden on caregivers and improve the overall well-being of older patients.

By employing these marketing strategies, St. David’s Healthcare can effectively target and serve the older adult population in the Austin area. The organization’s commitment to personalized, accessible, and community-oriented care will resonate with this demographic, fostering strong patient-provider relationships and promoting health and well-being.

Conclusion

In conclusion, strategic planning in the healthcare sector is imperative to ensure that organizations can adapt to a rapidly evolving environment while delivering high-quality patient care. The enactment of the Affordable Care Act and the subsequent changes in political, economic, social, technological, legal, and environmental factors have necessitated healthcare organizations like St. David’s Healthcare to reevaluate and adapt their strategic plans. mUnderstanding the differentiation between strategic management, strategic thinking, strategic planning, and managing strategic momentum is foundational to effective strategic planning. These dimensions are interconnected and complementary, working together to ensure that St. David’s Healthcare remains responsive, innovative, and aligned with its mission and vision.

References

David, F. R. (2017). Strategic Management: Concepts and Cases: Competitiveness and Globalization. Pearson.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic Management: Concepts and Cases: Competitiveness and Globalization. Cengage Learning.

Kotler, P., Kartajaya, H., & Setiawan, I. (2017). Marketing 4.0: Moving from Traditional to Digital. Wiley.

Nag, R., Corley, K. G., & Gioia, D. A. (2021). The New Strategic Management: Organization, Competition, and Competence. Routledge.

Sawalha, S., Al-Hazzaa, H. M., & Nassar, O. (2018). The role of patient education in the management of adult type 2 diabetes. The Open Diabetes Journal, 8(1), 31-37.

Thompson, A. A., Peteraf, M. A., Gamble, J. E., & Strickland, A. J. (2020). Crafting & Executing Strategy: The Quest for Competitive Advantage: Concepts and Cases. McGraw-Hill Education.

Frequently Asked Questions (FAQs)

What is the importance of strategic planning in healthcare organizations?

Strategic planning in healthcare organizations is crucial for several reasons. It helps organizations adapt to changing healthcare landscapes, set clear objectives, allocate resources effectively, and ensure they are aligned with their mission and vision. It also facilitates innovation, quality improvement, and enhances patient care.

What are the key components of a strategic plan in healthcare?

A strategic plan typically includes elements like a mission statement, vision statement, goals and objectives, analysis of internal and external factors, strategies for achieving goals, a timeline, performance metrics, and a method for monitoring progress.

How does strategic planning differ from day-to-day management in healthcare organizations?

Strategic planning is a long-term, forward-looking process that focuses on setting organizational goals and determining how to achieve them. It differs from day-to-day management, which involves the day-to-day operations and ensuring that the organization runs efficiently.

4. in healthcare strategic planning?

The Balanced Scorecard is a tool used to measure and manage performance from multiple perspectives, including financial, customer, internal processes, and learning and growth. In healthcare, it helps organizations evaluate their performance comprehensively, adapt to changing conditions, and stay aligned with strategic goals.