The business plan of a healthcare organization describes the purpose of the HCO and lends structure to its organizational goals.
The business plan of a healthcare organization describes the purpose of the HCO and lends structure to its organizational goals. The strategic plan is used as a directional guide; in other words, how the organization will fulfill its purpose and put ideas into action. The strategic plan also prioritizes the organization’s resources as a means to fulfill the business plan. Simply put, the business plan is the “what,” and the strategic plan is the “how.”
To prepare for this assignment, read Chapters 1 and 2 in the course text as well as the required article by Varkey and Bennett (2010). You may also want to review the recommended article by Williams (2008). For your initial post, answer the following questions in the discussion forum:
What is the difference between a healthcare organization’s business and strategic plan? Be sure to include the purpose of each plan and how they relate to one another.
Why is it important for a healthcare organization to develop a strategic plan?
Support your initial post with in-text citations and references for at least two scholarly sources.
PART 2
Figure 1.1 in the course text illustrates how various functional plans for a healthcare organization support the overall strategic plan.
Figure 1.1: Relationship of overall strategic plan to business unit plans. Adapted from Strategic Planning and Marketing in Healthcare Organizations by R. Stevens and L. S. Silver, 2015, section 1.2: “The Importance of Strategic Planning and Marketing – Strategic Planning Process Overview.” Copyright 2015 by Bridgepoint Education, Inc.
The healthcare delivery system is often described as a service-driven industry. Therefore, it is vitally important for healthcare organizations to define the services that they are providing; however, it is equally important to determine the demographics or customer base that requires the specific service.
The strategic planning process supports the healthcare organization by prioritizing objectives and detailing the actions needed to fulfil the goals of the business plan. Specific actions are unique and depend on the healthcare organization’s services, goals, and mission. Not all objectives outlined in the strategic plan require marketing plans (e.g., purchasing land, equipment, and buildings). Other objectives may require a marketing plan (e.g., providing physical therapy targeted toward a specific demographic).
To prepare for this discussion, read Chapters 1 and 2 of the course text. You may also want to review the recommended article by Yang (2010). Then read the scenario below and construct your initial post based on the directives that follow.
Scenario
The marketing director for Happy Valley long-term care center looks at the organization’s strategic plan to differentiate marketable objectives from non-marketable objectives. Objectives found in the healthcare organization’s strategic plan include the following:
Purchasing medical equipment
Purchasing more land
Acquiring financial capital
Acquiring physical resources
Providing elder day care to Alzheimer’s patients
Providing physical therapy
Providing social activities such as bingo
Promoting product awareness such as: marketing in a manor to improve the public’s perception of the HCO’s product or service
Providing shuttle service to medical appointments
Increasing sales
Creating a brand
Establishing the organization as a leader in the long-term care industry
Initial Post: Based on the Happy Valley scenario detailed above and the information presented in Chapters 1 and 2 of the course text, construct an initial post in which you
Differentiate between the organization’s stated objectives as to whether they are marketable or non-marketable objectives.
Select the marketable objectives (i.e., those you would recommend developing in a marketing plan), and explain why you consider those objectives marketable.
Explain why the marketing plan objectives should be in line with the objectives in the healthcare organization’s strategic plan.
Be sure to provide concrete examples from the text and from your own research. Each source should be cited and referenced according to APA style as outlined
Answer preview The business plan of a healthcare organization describes the purpose of the HCO and lends structure to its organizational goals.
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