Financial and Ethical Impact on Healthcare Organization Success

Financial and Ethical Impact Samantha Grant MHA 506 Ricci Rizzo November 26, 2023

Financial and Ethical Impact Analysis “Financial and ethical impact analysis play a role, in shaping how an organization is structured. Makes decisions. The structure of an organization determines how project management is handled, who has the authority to make project related decisions and how goals and tasks are effectively communicated. Moreover, it influences how project managers collaborate with their teams” (Richards, 2021). The primary focus, at East Chestnut Regional Health System (ECRHS) is to enhance the quality of life through service. Their ultimate goal is to become a leading provider of health and human services. ECRHS has set objectives, such as improving women’s services attracting new physicians and establishing an Oncology Centre. With a vision strong leadership and dedicated employees ECRHS can effectively fulfil its mission achieve its vision and accomplish its long-term goals. Effective leadership plays a role in ECRHSs success. The President and CEO who previously held the position at Archway Hospital introduced a system that grants autonomy to different entities within the organization. Additionally, the leadership team includes a Chief Operating Officer (COO) Chief Financial Officer (CFO) Chief Medical Officer (CMO) and other key members who work together to implement strategies and ensure progress towards success. ECRHSs mission revolves around making an impact by providing service that improves people’s quality of life. They are committed, to achieving this mission through their efforts. ECRHS has set goals, which include improving women’s services recruiting new physicians and establishing an Oncology Centre. These objectives provide a framework, for decision making and evaluating performance enabling the organization to work towards achieving its goals.

The success of ECRHS relies heavily on its structure and culture. The organization came into existence through the merger of three entities: East River Medical Centre, Northern Mountain Hospital Consortium and Archway Hospital. Following the merger, the CEO of Archway Hospital assumed the role of President and CEO at ECRHS. Drawing from his experience leading an organization he implemented a system that allows for minimal centralized control. The structure of ECRHS includes a leadership team consisting of both retained staff from the regime and new members. The President and CEO who has been in position for nine months now is responsible for managing and directing the organization. By fostering trust among employees actively managing and developing the structure and culture well as providing training and development opportunities ECRHS can ensure its ongoing success. While they face a lot of competition from other healthcare facilities and providers within the chestnut community. Their advantage to maintain being one of the best lies in their level 1 trauma centre, advance technology offerings and their recent acquisition of 100 acres of land for their service expansion. To maintain competitiveness in the healthcare industry ECRHS must evaluate its marketing strategies, from both considerations and financial perspectives. To ensure an analysis of the landscape it is crucial to consider various factors such, as the potential entry of new players, competition among existing firms the influence of buyers bargaining power the threat of substitutes and the leverage held by suppliers. Understanding and addressing customer needs and preferences play a role. ECRHS should conduct surveys among physicians and administrators to gather insights into their

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

requirements. Evaluating staff performance is also important to ensure employee satisfaction. Additionally building a pool of doctors across departments will contribute to delivering exceptional services and attracting more customers. Examining indicators can provide insights into the effectiveness of ECRHSs healthcare marketing strategies. Profit margin analysis compares revenue to expenses. Helps assess resource utilization efficiency. Market share evaluation measures the organizations sales percentage compared to healthcare services in the region. A strong market share boosts sales and profits. When conducting analysis, it is essential to consider both technological resources. Resources encompass buildings, equipment and technology infrastructure. Technological resources refer to tools. Databases that support operations. By evaluating how these resources are utilized within healthcare marketing strategies ECRHS can optimize their usage, for improved performance. Maintaining an edge To stay of the competition ECRHS should leverage its strengths and distinguish itself from rivals. This can be accomplished by analysing pricing structures, unique offerings, customer service and other areas where ECRHS can provide value. Staying informed, about competitors’ strategies and investing in market research are essential for evaluating and enhancing marketing approaches. Evaluating the value chain Conducting a value chain analysis enables ECRHS to identify areas for improvement in their healthcare marketing strategies. By streamlining or eliminating inefficient steps in

production, customer service or distribution ECRHS can reduce costs. Enhance profitability. It is also important to assess partnerships to gauge their contribution to innovation and capturing market share. Understanding the target market analysing the target market is vital when developing healthcare marketing strategies for ECRHS. Understanding customer demographics, values and attitudes allows for strategies that resonate with the target audience. Assessing the size of the target market helps identify growth opportunities while comprehending customer preferences facilitates creating appealing products and services. Considering factors Various external factors, like political, economic, sociocultural and technological aspects can significantly impact ECRHSs healthcare marketing strategies. The new CEO/President is expected to bring about transformations, within the organization. From a standpoint Chestnut County has a job market, which is beneficial, for attracting a strong base of customers. The technology provided by East River Medical Centre is both competitive and well maintained. However, ECRHS faces competition, from other hospitals and a medical institution located in Chestnut County. Government policies and regulations have the potential to impact activities while economic conditions can influence the availability of resources. It is crucial to consider factors such, as consumer preferences and attitudes. Additionally technological advancements open opportunities, for innovation. It is important to evaluate all these aspects when assessing the situation.

In summary, ECRHS aims to excel in providing healthcare services by focusing on their mission, strategic objectives, and competitive advantages. The financial and ethical impact analysis, along with considerations of the organizational structure, marketing strategies, target market, and external factors, are crucial in guiding ECRHS towards success.

Your preview ends here

Eager to read complete document? Join bartleby learn and gain access to the full version

Access to all documents
Unlimited textbook solutions
24/7 expert homework help

Reference: (2021). Case Study East Chestnut Regional Health System . http://UniversityOfPhoenix Richards, F. (2021). How Organizational Structure Affects Projects . https://www.smallbusiness.chron.com/organization Alexander, J. (n.d.). Financial Planning & Analysis and Performance Management . Wiley.

week2 mha506

Related Documents