Strategic planning for Coastal Medical Center.
Strategic planning for Coastal Medical Center
Type of paper:
Other: Health Care Management
Format or citation style:
Please read the case about Coastal Medical Center before starting this paper
A link to the case study can be found here
Assume you are the Vice President of Strategy and Business Planning at Coastal Medical Center. Your President and CEO wants you to put together a white paper on the benefits of strategic planning for the organization that can be shared with senior leadership and middle management as not only a training guide, but a way to promote strategic thinking throughout the organization.
This white paper should answer the following:
•What is strategic planning and what is it not?
•What is the preferred strategic planning process for the organization?
•What are the benefits of strategic planning?
•How everyone can take part in the process?
The paper should be no more than 5 pages in length not including title page, references, or appendices/exhibits; and should follow APA Manual 6th Ed. scholarly writing guidelines.
The case study is in the first couple pages in the link I provided
Over the last ten years, the healthcare industry has experienced tremendous changes. For the future success of an organization, it needs to create the best assumption-based visions. In developing a strategic plan, an organization needs to know and identify their future assumptions and work towards achieving them. Therefore, they design strategic programs that bridge the gap between their current situation and the expected future assumptions of an organization. If an organization can identify assumptions that are most probable in the health industry, then it is easier for them to develop a strategic plan accordingly (Harrison, 2016). Examples of healthcare industry assumptions include; labor supply change, the need for increased patient care quality, change in customer volume, health-related emerging technologies, increasing operating cost, and continued wellness and prevention increase. This white paper will discuss strategic planning, the preferred strategic planning process for Coastal Medical Center, strategic planning benefits, and how everyone at Coastal Medical Center can take part in a strategic planning process.
What is strategic planning, and what is it not?
Strategic planning in healthcare involves the creation and setting of objectives and goals that are required to take a healthcare organization to a better future (Harrison, 2016). Healthcare strategic planning takes into account potential changes in government policies and the country’s economic trends. The organization of Coastal Medical Center forms the basis of strategic planning. For instance, as the Vice President of Strategy and Business Planning at Coastal Medical Center, it is necessary to identify who controls which aspect of the business. Strategic planning at Coastal Medical Center involves having a sound foundation upon which communication of ideas flows freely.
As the Vice President of Strategy and Business Planning at Coastal Medical Center, designing goals and a plan to achieve them and involving all staff would be a priority. While thinking about strategic planning, it is essential to ensure that there is a clear transformational purpose that comes along with the process (Wolf & Floyd, 2017). For example, first, identify the settings that a health organization operates in. Secondly, generate a vision for the healthcare center and finally, define a road map and an action plan towards achieving the visions set. Coastal Medical Center healthcare providers require a more patient-centric and value-based strategy
Strategic planning processes for the Coastal Medical Center
There are five stages of the strategic planning process, namely, vision clarification, strategy formulation, strategy implementation, information gathering and analyzing, and strategy evaluation and control. The strategic planning process begins by defining the mission, vision, and values of Coastal Medical Center. The organization focusses on providing sustainable, cost-effective, patient-centered, and high-quality healthcare. Coastal Medical Center fosters innovation and teamwork culture. Gathering and analyzing information is the second strategic planning process, and this stage involves the external competitors, clients, and other healthcare providers (Wolf & Floyd, 2017). The process also involves analyzing the internal environment, which includes resources, legal situations, and analysis of clinical care. The other stages of strategic involve strategy formulation, strategy implementation, and evaluation of the strategy.
Coastal Medical Center’s strategic planning process works towards creating a patient-centered medical home. As the Vice President of Strategy and Business Planning at Coastal Medical Center, I have to make sure that vision, mission, and strategies are fully aligned. We also have to ensure that our structures support the implementation of large scale changes (Wolf & Floyd, 2017). We have to ensure that our employees support the patient-centered medical home (PCMH), model. PCMH strategy starts by challenging the traditional volume-based care. Through or implemented a patient-centered medical home (PCMH) model, Coastal Medical Center has reported an improvement in the quality of healthcare provision.
What are the benefits of strategic planning?
According to Abraham Lincoln, the best way to protect the future is by creating it. Strategic planning at Coastal Medical Center helps in harnessing the ability to generate new ideas that promote healthcare provision. Strategic planning allows Coastal Medical Center to focus on resources and energy where needed the most (“What are the Benefits to Strategic Planning in Healthcare?” 2019). As the vice president of Strategy and Business Planning at Coastal Medical Center, strategy planning has helped us identify opportunities that have helped us reach the success that we never thought we would achieve. The patient-centered medical home (PCMH) model was one of the strategies that we never thought would be achievable.
Coastal Medical Center has also used strategic planning to identify the organization’s weaknesses and obstacles. After the identification, as the Vice President of Strategy and Business Planning with my team, I have been able to develop strategies that have helped us beat all the odds of success. We have minimized our weaknesses as a healthcare provider. Strategic planning has helped us become proactive rather than being active (“What are the Benefits to Strategic Planning in Healthcare?” 2019). we can foresee the future and plan or it accordingly. We have also been able to anticipate unfavorable scenarios and been able to take necessary precautions to avoid them.
Strategic planning has also helped Coastal Medical Center increase its operational efficiency. We have been able to hold management discuss over costs of operations and how we should make decisions depending on the resources available at hand. Strategic planning has also given Coastal Medical Center a sense of direction through the establishment of realistic goals and objectives. It has offered the needed foundation for the growth of the medical center. Strategic planning improves risk management, cost accounting, organization culture, capital planning and goals and objectives of an organization.
How can everyone take part in the process?
Every employee at Coastal Medical Center has a responsibility to promote the organization’s strategic planning. The Chief Executive Officer has a duty of promoting the strategic planning process. He or she has the responsibility of making plans for Coastal Medical Center. He relies on his team to create a plan that will benefit the healthcare provider. Support staff at Coastal Medical Center can take part in the strategic planning process, especially, of the second stage, where information is gathered both internally and externally (Harrison, 2016). They should provide suggestions on what should be improved to ensure efficiency in service provision. Doctors and nurses also take part in the strategic planning process by ensuring that they deliver quality services to patients. To achieve the Patient-centered medical home (PCMH) model, we need the corporation of each employee. Patient care is the basis of every strategic plan that we make.
Strategic planning will help Coastal Medical Center bridge the gap between their current situation and the expected future assumptions. Before incorporating strategic planning, it is necessary to involve and consider all stakeholders. Strategic planning requires vision clarification, information gathering, strategy formulation, strategy implementation, and strategy control and evaluation. All Coastal Medical Center employees, from those at entry-level to those holding higher offices, have a role to play in the strategic planning process. Increasing operational efficiency and giving a sense of direction are some of the benefits associated with strategic planning at Coastal Medical Centre.
What are the Benefits to Strategic Planning in Healthcare?. (2019). Retrieved 3 October 2019, from https://www.stratadecision.com/benefits-to-stategic-healthcare-planning/
Wolf, C., & Floyd, S. W. (2017). Strategic planning research: Toward a theory-driven agenda. Journal of Management, 43(6), 1754-1788.
Harrison, J. (2016). Essentials of strategic planning in healthcare (1st ed.). Chicago: Health Administration Press.