Strategic Plan Template
Review and complete.
Strategic Plan Template
This course will feature a cumulative assignment starting in Week 1 and concluding in Week 5. You will complete this assignment each week using the Strategic Plan Template provided. This document will be used in conjunction with the Phoenix Hospital 5-Year Strategic Plan Scenario. It is important that you read the scenario in its entirety prior to completing the Week 1 assignment. Make sure to refer back the scenario each week as instructed for these cumulative assignments. You will record all responses to the appropriate assignments in this document. Your faculty member will also provide feedback directly through this document. This document will break down the basic steps used in strategic planning to make a strategic decision in health care. While this scenario is specifically geared toward a hospital setting, the knowledge and skills you will possess at the end of this course can be applied to any health care facility (e.g., physician’s office, long-term care, etc.).
Part 3: Goals, Objectives & Final Decision for Phoenix Hospital
Section A
Based on your review of the Phoenix Hospital 5-Year Strategic Plan Scenario provided in Week 1 and your work in Weeks 1 through 3 on mission development, market and SWOT analysis, complete the table below listing 4 to 5 objectives and strategies for the facility. Explain why each strategy is important.
For our project we will define:
Goals as broad primary outcomes desired; what we would like to accomplish
Objectives as measurable; should contain a number
Strategies as the approach taken to achieve the objectives; the “why” of our actions
An example is provided in the first row. Note that your strategic priorities should be areas where you believe the facility should focus in the first year of the strategic plan.
For this assignment, you can use a goal more than one time, but you need to create at least 4 to 5 measurable objectives and provide the strategy for each. Discuss why you believe each strategy is important:
Make Phoenix Hospital the preferred hospital in Hanover County by employees and consumers.
Make Phoenix Hospital known as the hospital with the most advanced use of technology in the region (including computer and diagnostic technology).
Make Phoenix Hospital known as the employer of choice in Hanover County.
Make this coming year the most profitable year ever.
Ensure Phoenix Hospital meets all accreditation requirements under the latest CMS regulations.
Review and complete.
Goal
(Select from goals listed above. Goals can be used multiple times)
Objectives/measurable actions
(Measurable outcome desired)
Strategies
(The “why” of our actions)
Why this strategy is important
Example: Make our model X automobile a sales leader in the country by year X. Obtain 60 percent of the sales market as compared with model Y as demonstrated in Consumer Reports annual report. Persuade buyers that model X has the best visual appeal by marketing to the 30- to 40-year-old market with an upscale campaign. Marketing specific to 30- to 40-year-old demographic increases the sales in age range that has had lower sales in the past last year.
Make Phoenix Hospital be known as the hospital with the most advanced use of technology in the region (including computers and diagnostic technology).
Attract 55% of the elderly patients
Assure patients that the intensive application of technology ensures that there will be no delays in service delivery in the hospital. Promoting the healthcare services of the hospital among elderly patients
Make Phoenix Hospital the most preferred hospital in Hanover County by employees and consumers.
Obtain 73% of college students
Reassure the patients that Phoenix Hospital puts patients first. Advertising the hospital’s healthcare services among college students
Make Phoenix Hospital known as the employer of choice in Hanover County.
Attract and retain 81% of employees in Hanover County
Prove to potential employees that Phoenix Hospital has created the best working conditions. Publicizing hospital’s healthcare services among employees in Hanover County
Ensure Phoenix Hospital meets all accreditation requirements under the latest CMS regulations.
Obtain 77% of patients suffering from chronic illness
Assure patients that Phoenix Hospital has met all the requirements for a hospital Making the hospital known among patients suffering from chronic illness
Make this every coming year the most profitable year ever.
Attract 58% of patients through social media posting and conversations
Satisfy accreditation that the hospital will be committed to improving the quality of its healthcare services. Posting hospital’s healthcare services on social media pages
References
DuPree, E., Anderson, R., & Nash, I. S. (2017). Improving quality in healthcare: start with the patient. Mount Sinai Journal of Medicine: A Journal of Translational and Personalized Medicine, 78(6), 813-819.
Epping-Jordan, J. E., Pruitt, S. D., Bengoa, R., & Wagner, E. H. (2018). Improving the quality of health care for chronic conditions. BMJ Quality & Safety, 13(4), 299-305.
Section B
In this section, you will review your work in the Strategic Design Template in order to decide or make recommendation(s) about the 5-year strategic plan for Phoenix Hospital. Prior to making your decision or recommendations, it is important to review your work in this template, compiled research, and faculty feedback.
Write a 260- to 350-word paper that details your strategic decision or recommendation for the Phoenix Hospital. Include the following in your paper:
Identify the decision or recommendations you will make regarding Phoenix Hospital.
Support your decision with the analysis made throughout this template.
Identify how the decision or recommendations will support the strategic plan for Phoenix Hospital.
Evaluate how financial and economic issues in health care will affect your strategic plan.
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.
The major market factors identified in the Strategic Plan Template that could potentially undermine Phoenix Hospital’s performance include staffing, regulatory changes, and technology. In this regard, the main recommendations that will be made regarding the hospital incorporate the application of the most advanced technology, strengthening the management of human resources, and enhancing compliance with accreditation requirements under the latest CMS regulations. Encouraging the use of technology is imperative as it will increase the capabilities for service provision as well as improve patient access while improving the patient’s quality of life and saving lives (Perera & Peiró, 2012). The intensive application of technology will ensure that there will be no delays in service delivery in the hospital, thereby attracting elderly patients, which helps in fulfilling Phoenix Hospital’s mission by promoting the hospital’s healthcare services among elderly patients. Furthermore, strengthening human resources management in such a manner that makes Phoenix Hospital the most preferred hospital and the employer of choice in Hanover County is of paramount importance in attracting patients and attracting and retaining employees. Doing so boosts the hospital’s overall performance and, subsequently, translates to higher profitability, which meets its strategic plan. Lastly, ensuring the hospital complies with the regulatory changes, particularly meeting all accreditation requirements, is paramount. However, similar to improving personnel management and adopting the most advanced technology, compliance with the latest CMS regulations will require the hospital to make a substantial financial investment. In other words, the lack of or limited finances would undermine the capability of the hospital to implement the strategic plan.
Reference
Perera, F. D. P. R., & Peiró, M. (2012). Strategic planning in healthcare organizations. Revista Española de Cardiología (English Edition), 65(8), 749-754.
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