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Strategic Management in Healthcare - Essay Example

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Strategic Management in Healthcare 1. Resources, competencies, and capabilities A healthcare organization needs different assets to run its processes and activities. “Ttangible and intangible assets a firm uses to choose and implement its strategies” can be termed as resources (Haverkamp 50)…
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Strategic Management in Healthcare
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Download file to see previous pages Evidently, an organization can use its different resources to create and gain competitive advantages if they are employed in a meaningful way. The strengths an organization possesses to confront with its competitors in the marketplace can be considered as the organization’s competencies. An organization must acquire a minimum level of competencies to survive the current stiff market competition. It must be noted that competencies may not benefit an organization when they stand alone. An organization can attain competitive advantages when its competencies are combined in the right proportions. In case of a healthcare organization, it must possess competencies like quality care, uninterrupted services, and improved patient safety; and, these competencies have to be combined in the right manner to achieve a key position in the healthcare industry. Finally, capability can be simply referred to an organization’s ability to utilize its resources and strengths in proper way to achieve a particular objective. It is clear that resources and competencies are of no use if the organization does not possess enough capabilities. In addition, if the organization maintains strong capabilities, it can find newer potential resources and develop more improved competencies. Generally, investors and market analysts observe resources, competencies, and capabilities of an organization so as to determine its industry position. Therefore, the organization’s management emphasizes developing more potential resources and competencies and thereby achieving stronger capabilities. 2. Home care: Three barriers Home care, or sometimes referred to as social care, is a specific healthcare service area providing supportive care in patients’ home. Although this healthcare service sector is becoming popular in the United States, organizations find it difficult to enter this area due to some potential entry barriers. The main barriers to entry in home care include strict certification rules, lack of qualified staff, and violence toward home care workers. Although certification laws are favorable in states like California, which is not a licensure state for custodial care services, strict certification rules become a potential challenge to providers in states like Florida. Therefore, strict certification laws significantly reduce the scope of home care. Likewise, inadequacy of qualified staff is another major entry barrier in home care. Home care workers are required to attend an examination to achieve the status of a state tested Certified Nursing Assistant (CNA). In addition, they need to undergo drug testing, background check, and other general reference procedures. Due to such tough qualification tests and declining availability of nursing care workers, fewer staff is available for home care work. Reports indicate that violence towards home care staff (particularly female), is growing in the United States. As a result, workers are reluctant to go patients’ home where they (workers) are likely to be assaulted sexually or physically. In short, these three potential entry barriers force health providers to stay away from the home care sector. 3. Strategic planning and strategic thinking It is a common misperception that strategic planning and strategic thinking are interchangeable terms. The fact is that these are two distinct terms even though they are interrelated and complementary. Management professionals opine that ...Download file to see next pagesRead More
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