Background and History
Superior Hospital was founded in 1980 and is now the nation’s second biggest supplier of post-acute healthcare which includes inpatient and outpatient services. Today the business operates in Spring Hill, FL and has combined revenue of $2 billion. Superior hospital provide patients superior care after suffering from the effects of conditions such as strokes, neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injuries, and amputations.
The Aim of this Plan
The healthcare sector has faced uncertainty due to the debate on healthcare reform. Superior hospital has formulated a new strategic plan so that it would have a guideline over the next 5 years, so that the organization can …show more content…
This allows the organization to be attentive to the patients’ needs, as well as, promotes communication and collaboration and between all staff member so that care is continuous and dependable. The hospital could outsource areas such as housekeeping, laundry, and food services as long as the partnership is mutually beneficial, as well as, promotes the mission of the hospital. Outsourcing is the process of moving work that is typically done internally, to an external specialty company (Pearce & Robinson, 2011, p. 313). In my opinion, these components do not add significant value to the overall service, and it is more cost effective to complete these activities outside the hospital. As a result of the cost saving from outsourcing, it is critical of the organization to invest and develop e-business skills in order to capitalize on opportunities such as paying bills on line and performing follow up visits via internet mediums. The implementation of an e-business to will afford the organization a few benefits. These include building the company reputation as a trusted home of healthcare services, driving customer satisfaction by allowing patrons to browse or pay bills anytime, and decrease operating expenses and increase profits (Bick, …show more content…
There are several different types a company can chose from, however for this particular management plan, the organization will choose a concentrated growth, concentric diversification, and turnaround strategy. First, concentrated growth is noted when a firm directs its resources towards one product in a single market (Pearce & Robinson, 2011, p. 188). The strategy related to MD satisfaction is a concentrated growth strategy as the objective is to increase the use of the physicians in the present market. As a result, market share will increase as this is one way a hospital can generate referrals. Next, the business will take on 2 turnaround strategies. These are defined as strategies that reduce cost or reduce assets in order to right size declining components (Pearce & Robinson, 2011, p. 199). For illustration, the readmission and staff turnover strategies are associated with high hospital costs. These issues have caused the profitability of the hospital to decline and stagnate, thus implementing these strategies should correct the issue. Finally, concentric diversification seeks to operate a second firm that benefits the primary business (Pearce & Robinson, 2011, p. 198). By completing a joint venture with an electronic medical record company, the organization will be able to provide better care to customers because the EMR saves time, improves quality,
Superior Hospital was founded in 1980 and is now the nation’s second biggest supplier of post-acute healthcare which includes inpatient and outpatient services. Today the business operates in Spring Hill, FL and has combined revenue of $2 billion. Superior hospital provide patients superior care after suffering from the effects of conditions such as strokes, neurological disorders, orthopedic, cardiac and pulmonary conditions, brain and spinal cord injuries, and amputations.
The Aim of this Plan
The healthcare sector has faced uncertainty due to the debate on healthcare reform. Superior hospital has formulated a new strategic plan so that it would have a guideline over the next 5 years, so that the organization can …show more content…
This allows the organization to be attentive to the patients’ needs, as well as, promotes communication and collaboration and between all staff member so that care is continuous and dependable. The hospital could outsource areas such as housekeeping, laundry, and food services as long as the partnership is mutually beneficial, as well as, promotes the mission of the hospital. Outsourcing is the process of moving work that is typically done internally, to an external specialty company (Pearce & Robinson, 2011, p. 313). In my opinion, these components do not add significant value to the overall service, and it is more cost effective to complete these activities outside the hospital. As a result of the cost saving from outsourcing, it is critical of the organization to invest and develop e-business skills in order to capitalize on opportunities such as paying bills on line and performing follow up visits via internet mediums. The implementation of an e-business to will afford the organization a few benefits. These include building the company reputation as a trusted home of healthcare services, driving customer satisfaction by allowing patrons to browse or pay bills anytime, and decrease operating expenses and increase profits (Bick, …show more content…
There are several different types a company can chose from, however for this particular management plan, the organization will choose a concentrated growth, concentric diversification, and turnaround strategy. First, concentrated growth is noted when a firm directs its resources towards one product in a single market (Pearce & Robinson, 2011, p. 188). The strategy related to MD satisfaction is a concentrated growth strategy as the objective is to increase the use of the physicians in the present market. As a result, market share will increase as this is one way a hospital can generate referrals. Next, the business will take on 2 turnaround strategies. These are defined as strategies that reduce cost or reduce assets in order to right size declining components (Pearce & Robinson, 2011, p. 199). For illustration, the readmission and staff turnover strategies are associated with high hospital costs. These issues have caused the profitability of the hospital to decline and stagnate, thus implementing these strategies should correct the issue. Finally, concentric diversification seeks to operate a second firm that benefits the primary business (Pearce & Robinson, 2011, p. 198). By completing a joint venture with an electronic medical record company, the organization will be able to provide better care to customers because the EMR saves time, improves quality,