wk 6 Summative Assessment Supply Chain Management
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University of Phoenix *
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MHA507
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Medicine
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Apr 3, 2024
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Summative Assessment: Supply Chain Management
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Summative Assessment: Supply Chain Management
Sonya West
University of Phoenix
MHA/598 Leveraging Results to Build Brand in the Health Sector
Instructor: Tina Folk-Cromartie
Assignment Due Date: November 13, 2023
Summative Assessment: Supply Chain Management
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Introduction:
The purpose of this study is to investigate the management of the business's supply chain and how that management affects the brand of the company. The purpose of this study is to investigate the impact that economic variables operating in the market have had on the way in which the firm manages its supply chain. The following analysis will focus on the monetary expenditures made inside my company and the possible impact those expenditures may have, whether positive or negative, on the operation of the business as a direct consequence of the practices of supply chain management.
Impact on my organization's management of its supply chain The impact on my organization's management of its supply chain consists of including the storage and transfer of unfinished items and raw materials, as well as inventories and finished
products. An integrated supply chain model is one in which members of the workforce collaborate toward the achievement of a single objective, which is to provide the highest possible
value to end users. Utilizing the findings of previously examined reports on the company's Economic and Market Impact as well as Healthcare Accounting, this study will conduct an analysis of the supply chain management used by the organization and the effect that this practice has on the business's brand.
Nevertheless, the expenditure on healthcare continues to exceed the growth rate of the Gross Domestic Product (GDP). Both public and private health insurance have been unsuccessful in correlating the rise of medical expenditure with the increase in family income over the course of many decades. Over the course of time, several initiatives have been developed and put into practice with the aim of diminishing medical expenditures and enhancing healthcare provisions, hence mitigating hospital readmissions.
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The study report, conducted on October 17, 2023, on the Emory School of Medicine, examined the influence of economic concepts on the strengths, weaknesses, opportunities, and threats (SWOT) of Emory organization. The United States has the biggest and most intricate healthcare system, which serves a varied population across a range of healthcare settings, including medical treatment facilities. The SWOT analysis study has indicated that the Emory School of Medicine Health System has strengths attributed to its provision of different training options and medical education for healthcare professionals. Medical professionals possess the requisite technical expertise, reliability, optimism, and intrinsic drive to guarantee all healthcare. During periods of economic scarcity, the Emory School of Medicine is seen as an institution that offers employment prospects. Emory University's healthcare system has a deficiency in the availability of specialized medical practitioners who possess the requisite expertise to conduct intricate surgical interventions during periods of peace, hence impeding the maintenance of provider proficiencies.
The Economic and Market Impact research recommended that government entities prioritize patient care and strive to have a positive impact since this approach offers significant benefits. An assessment of the organization's people, vulnerabilities, and resources may help identify strengths that can be used as opportunities. Considering the COVID-19 pandemic, forthcoming telehealth services will evaluate the categories of healthcare providers and the codes
used to identify specific diagnoses. Additionally, the emphasis will be on increasing the number of remote consultations with doctors and reducing the frequency of in-person visits to the physician's office. The era of individual medical practices has ended, as healthcare corporations have merged and consolidated.
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Summative Assessment: Supply Chain Management
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Expenses in your organization An effective financial strategy requires ongoing refinement to make choices that will impact and shape the organization's outlook and objectives. This evaluation of Emory Medical Center will provide an understanding of the factors that influence the organization's financial choices. The Healthcare Accounting study, issued on October 31, 2023, examined several patterns inside a company. The discovered trends included spending and revenues, cost reduction
measures, reimbursement techniques, and organizational branding.
It is crucial to identify these patterns to assess and comprehend the financial plan inside the firm. A financial strategy empowers a company to assess performance and allows management to track expenditures as they strive to achieve the strategic objective. The research indicated that there has been an increase in salary and rewards, but it also revealed a decline in incentives. The pay increase may be attributed to a general rise in worker recruitment after the drop seen during the COVID-19 epidemic. This also contributes to a reduction in operational income. The paper states that Emory Health Systems System estimated a revenue loss of $279 million and an extra $65 million in expenditures during the COVID-19 epidemic. The Emory University Health System in downtown Atlanta saw a 23 percent decline in revenue from inpatient treatment. The nonprofit organization located in Atlanta had a deficit in its operational finances during the quarter but managed to create a profit via profits from investments. The study, dated October 31, 2023, proposed reducing healthcare costs and enhancing retention without compromising patient well-being by implementing expenditure cuts as a strategic measure. The group proposes the adoption of a novel patient care method to enhance workflow efficiency, mitigate burnout, and use emerging technology. In addition, including a budget allows for the reduction of healthcare expenses and enhancement of employee retention,
Summative Assessment: Supply Chain Management
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all while ensuring the well-being and safety of patients. The company proposes the adoption of a novel patient care method to enhance workflow efficiency, mitigate burnout, and use innovative technology. Furthermore, including a budget allows the organization to optimize the use of its resources to achieve its objectives more effectively. Efficiently managing the movement of patients is crucial to reduce any delays and waiting periods, resulting in cost reduction. Conclusion
The summative evaluation evaluated the organization's economic and commercial influence, healthcare accounting, and supply chain management. The Emory School of Medicine has shown robust and expanding financial success, even in the face of the challenges posed by the COVID-19 epidemic and associated difficulties. Supply chain management will play a crucial part in the healthcare business as the economy continues to expand. Supply chain management may optimize workflow efficiency and improve customer service, while concurrently reducing operational costs and fortifying corporate financial strategy. The research also highlights deficiencies inside the business and identifies how the supply chain might impede
productivity. Identifying and implementing remedial measures to enhance efficiency while minimizing expenses.
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References:
West, S. Week 2: Summative Assessment: Economic and Market t Report. Unpublished paper. University of Phoenix
. https://d.docs.live.net/0117636c6849e919/Desktop/UOPX/MHA
%20598/Week %202%20Summative%20
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