Writting health care business paper - Essay Example

Health Care General Environment assessment To provide a strategic analysis on improving the profitstrategy of an organization, it is important to identify the external environment factors that affect the business directly or indirectly. This includes the setting up of the organization both geographically as well as business centric. Hence, a study of these external factors is required to provide a better strategy on improving the business. This study has innumerous advantages in deciding the profitable running of the organization. It helps in aligning the business to its situated environment and helps in identifying future environmental changes in order to be in sync with the current economic situations. The following general environment assessment is aimed at identifying the potential demographic features that provide business opportunities to the concerned client, which is the Middle County Medical PC (MCMPC) located in northwest suburb of New York City. Understanding the demographics of the place where MCMPC is located will help in identifying the marketing locations present in those areas and the potential of opportunities can be estimated. Based on the census data provided for that region, the population has been constantly increasing enabling business opportunities to grow continuously. With the growth of population from 300K to approximately 380 k from 1990 to 2008 and expecting to hit 400K by 2010, the number of potential clients in the region has constantly increased. This in turn would help in generating more revenue, provided the requirements of the clients are satisfied. Also, thought unemployment percentage is about 5.5% at present, the proper utilization of opportunities would enable that to be reduced with proper training and hiring of skillful employees. An example of apt use of a market opportunity is the large Jehovah 's Witness community which was able to create a unique marketing region for itself by allowing insurance schemes for the clients, an idea not implemented by our client or other competitive organizations. This has enabled the community to excel in the county region, taking away about 10 miles of MCMPC's base operational area. Based on the epidemiological data available about the region, the organizations can focus on providing solutions to those diseases which cause more fatality. The organizations can prioritize them, work on the solutions and provide a cost effective measure to it that will attract the clients and increase the business. Based on the data that is given for the possible causes of health and illness conditions, accidents top the fatal count of children. If some emergency recovery centers are established, could prove as a decisive factor in improving the client feedback. The data provided is classified age wise, and for persons in the age of 45, cancer and heart problems are the prime cause of illness. For persons aging around 74, chronic diseases tops the list. Finally on general assessment, the evaluation of the economic condition would help greatly in identifying key market niches. For example, Jehovah's Witness community revenue details are most appealing considering the fact they just followed a single policy of implementing private insurance and Medicare. Such scenarios boost the economy of the region and thereby allow other organizations to tread the same path. Innovative Medical Groups Innovative Medical, a $265 million revenue medical group is considered to be the biggest competitor for MCMPC. It has more than 1100 employees and is expanding its serving region with its new alignment with County Regional Medical Center. Provided below are the basic details of the group. Their strengths, weakness as well as the opportunities and threats in comparison with MCMPC are detailed here. Strengths The main backbone of Innovative medical groups is their strategic planning headed by Dr. Schwartz, who has a degree of MBA aiding him in managing things effectively. He has a great record in dealing with strategic planning as he has improved group exponentially. Also the lacking of the same in the founder of MCMPC, Dr Balko, has proven to be strength for the group. The other strength that needs to be mentioned out here is the emergency ambulatory surgery centers developed and maintained by this group has provided an added attraction for the clients in case of emergency situations. Their second construction of the same is also providing new services and businesses of same nature in other localities too. With the majority of the population migrating towards, the route 37 in the county, its location is far more convenient to the public. An additional strength is the revenue that the group is generating. With the revenue analysis, it can be shown that the revenue has grown from $6M to $10M. This is one of the biggest strengths compared to their competitor's revenue. Weakness What is considered to be weakness is that the revenue of the group has almost attained a saturation point. Though there is further exploration but given the population strength, it would not be feasible to achieve the same growth experienced in financial year2007-08. Also, with other organizations maturing to realize the reality, the competition will grew further. Further, additional assistance to Dr. Schwartz is lacking and there is no proper communication between two therapists. Lack of communication could prove as a real weak point to the group. Opportunities The recent alignment with CRMC has enabled the group to explore more opportunities in different localities, allowing it to expand its servicing regions. It has also provided more opportunities for the unemployed to get a job in the same group and the possibility of generating consistent revenue looks bright, though yet to be realized. Threats With about 50% of the residents of the county trying to relocate themselves, it is posing a bigger threat for the group to make them come back for treatment. It is demanding that several advanced technologies have to be implemented in order to sustain the same rate of client visits to the group. But this investment does not 100% ensure that the profits will be sustained. It is posing to be a serious threat. Partnership Analysis In order for MCMPC to regain its financial stability and stature in the market, it needs to partner with any of the two potential partners currently doing service in the same profession. It has to do it in order to achieve new strategy based advantages, similar to the way Innovative Medical has achieved through its collaboration with CRMC. Following are the analysis and consultation views on what would be the best association for MCMPC that could be with either Good Sisters or Riverside Hospitals. Good Sisters Association If Good Sisters is considered to be the partner, then there are certain pros and cons that need to be taken into account. The pros include that Good Sisters is present in the southern part of the county; partnering with it would increase benefits reaped through this association in that region. Apart from this sole reason, there is not much that would enhance the chances of partnership relationship. On the other hand, the Good Sisters hospital has just n0ow got a new CEO by the name of Jim Gallagher. From the hospital perspective the change of top level administration does not send the right signals. Moreover, it s been studied that the morale of the staffs in the hospital is too low and they are not in a position to provide additional value to the hospital. On a financial perspective, the total revenue is only around $2M and the increase in revenue from 2007 to 08 is only very miniscule. And adding to that, the liabilities expenditure has also increased by a constant margin every year. With that the total expenses is greater than the revenue by $ 10K which says that the hospital is running or proceeding towards losses. All these indicate that Good Sisters is not an ideal partnership to proceed with. Just for gaining benefits from the southern part, it would not be ideal to risk the entire organization for it. Riverside Hospital and Medical Center The below sentences are constructed in such a way to show that riverside hospitals bprovide better opportunities for financial growth, if partnered. With the main competitor, Innovative Medical struggling in the part of contactless surgery program, the MCMPC 's are in with a potential market niche if they are to use the opportunity to partner with Riverside hospital in applying the same technology. The Jehovah Witnesses community is on the in and outs of the hospital's location. So, this would enable the organization to have more number of clients. It is sure that the clients will get attracted to bloodless surgery programs. Since, the hospital is an orthopedic one, the MCMPC's chances of expansion of services is sure to happen on a positive and exponential scale. Adding to this, the moral of the staffs of Riverside hospital is good with the hospital also providing state of the art technologies to support its operations. On the financial perspective, the total revenue of the company shows constant increase in profit. The revenue has been increasing from $2M in 2007 to approximately reaching $3M by 2008. And the deficit in expenses is not much, showing a great deal of stability, far better than the Good Sisters hospital. This clearly shows that Riverside is far better to partner with to increase the servicing opportunities of MCMPC. Conclusion Given all the counseling and requirement analysis being done for a good strategy based technique, it is best left to the organization, MCMPC, to choose the right organization to partner with to sustain and excel in its financial stability. Read More