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HCS/499 v5

Stevens District Hospital’s Strategic Goals Worksheet

HCS/499 v5

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Stevens District Hospital’s Strategic Goals Worksheet

Assignment Directions

For this assignment, you will identify 4 strategic goals total that support Steven’s District Hospital’s mission and vision. You will identify 1 strategic goal for each of the following areas: financial, economic, legal or regulatory, and risk- or quality-improvement.

In the “Goals” section of this worksheet, write a 260- to 350-word response for each of the 4 goals. Include the following in the provided spaces for each category:

· Goal: For each category, identify a clear, actionable, and measurable goal for the hospital that clearly supports the organization’s mission statement and vision statement.

· Mission and vision alignment: Analyze how each goal supports the hospital’s mission statement and vision statement.

· Measurement: Explain how you would measure progress toward each goal.

· Discuss milestones necessary for progress.

· Discuss the criteria you would use to measure that the goal was completed.

Incorporate analysis based on your review of the data provided in the Stevens District Hospital Strategic-Planning Scenario and your Wk 3 - Summative Assessment: SWOT Analysis.

Review the following completed examples:

· Example Goal

Increase the number of cardiac catheterization labs from two to three labs.

· Example Mission and Vision Alignment

The goal supports the hospital’s mission and vision because it increases outpatient testing volume and revenue and provides capacity to be able to recruit an additional cardiologist. This can improve the health of the community by treating heart disease sooner.

· Example Measurement

The number of catheterization labs would be measured at the end of the year to ensure Stevens District Hospital is making progress toward the goal. We would also calculate the volume of catheterizations completed by the end of year.

Cite sources to support your assignment.

Format citations and references according to APA guidelines.

Introduction

Strategy formulation involves setting achievable goals and objectives based on where an organization sees itself in the long term. Healthcare organizations create a plan to achieve such goals and gather the required resources to enhance efficiency and effectiveness in implementing the strategies. Formulating an organizational strategy may include corporate-level strategy, functional strategy, competitive strategy, and troublesome strategies. Stevens District Hospital is a nonprofit healthcare organization that focuses on improving community health by offering specialized care at affordable or no cost. The Hospital's exceptional service delivery strategy distinguishes it from other healthcare givers. Therefore, this essay discusses the four strategic goals that support Steven's District Hospital's mission and vision.

Goals

Financial Goal

Goal

To generate hospital income and revenues to facilitate various operations in the organization.

Steven's District Hospital is a nonprofit organization that focuses on offering quality healthcare services to patients. Though the organization is not profit-oriented, various financial goals must be set to enhance efficiency and effectiveness in service delivery. The organization must meet its various goals and objectives, such as providing quality health services, thus requiring finances. The company's vision and mission statements align with the financial goal of facilitating healthcare operations to ensure every patient is attended to satisfaction. Steven's Hospital meets its financial goal by setting a database for regular donors who fund the organization to ensure the operation runs smoothly. The Hospital must provide financial security in case of emergencies such as fires, diseases outbreak, and natural disasters. Financial goal enables Steven's Hospital to set long-term goals and commit its staff to achieve such goals and objectives.

Mission and Vision Alignment

Steven's District Hospital's financial goal to raise enough money to facilitate organizational operations and meet customer demands aligns with its mission and vision statement – to improve the care quality and serve more customers to satisfaction. Financial goals enable organizations to minimize inputs and maximize output. Reducing operational costs and improving the overall quality of products enables organizations to attain milestones and gain a competitive advantage over other firms.

Measurement

Measuring the progress of a financial goal would incorporate the primary nonprofit healthcare organization financial metric such as liquidity, calculating the program expenses as a percentage of total expenses, and liabilities as a percentage of total assets. The organization's financial management team may also calculate the full cost coverage and the fundraising expenses against the percentage of total contribution to determine the financial status and use the information in financial decision-making.

Economic Goal

Goal

Steven's District Hospital's financial or economic goal is to raise enough funds to meet the operating expenses.

Healthcare stakeholders utilize the available knowledge to set a plan and write down the organization's intended direction. Strategy formulation involves prioritization, business goals validation, and resource allocation to meet specific organizational goals and objectives. The organization must fulfill the staffing needs, insurance, electronic devices, and rent expenses just like any other business organization. Steven's District Hospital aims to improve on the revenue collection strategies and lower the operational expenses to meet the various customer needs. The healthcare organization foresees a brighter economic future by offering quality products and services at lower costs. Efficiency and effectiveness in health services delivery would promote growth by increasing the customer base and meeting financial goals and objectives. Steven's District Hospital creates an endowment to generate enough interest each year to facilitate various organization operations and fund charitable activities without charging the patient for health services rendered.

Mission and Vision Alignment

Steven's District Hospital's economic goal aligns with its mission and vision statements, to offer exceptional health services to patients and generally improve the quality of care. By creating an endowment, the organization would gather adequate funds to support charity organizations and improve people's health, which is its mission and vision.

Measurement

Measuring the Hospital's financial goals would involve calculating the gross domestic product, membership growth, and overhead costs. By analyzing the number of patients served within a specific period, the organization would measure the growth rate. Steven must utilize various resources and equipment to attain the set financial and economic goals. Measuring the progress towards an economic goal would include measuring the number of new outpatient facilities set up by the Hospital, laboratories, and inpatient facilities, such as the bed capacity built each year (Shah et al., 2021).

Legal or Regulatory Goal

Goal

The legal or regulatory strategic goal is to improving care quality, patient outcomes, and reduced care costs through compliance measures.

Steven's District Hospital's mission and vision statements prioritize quality services and customer satisfaction. The hospital adheres to the State and Federal laws and all health regulatory agencies to enhance efficiency and effectiveness in service delivery. The hospital staff is committed to formalizing the commitment to healthcare goals such as providing universal care and cooperating with law enforcement organizations to ensure law and order, client safety, and quality service delivery. The hospital sets internal organizational goals and objectives, governed by the company regulatory authority to enhance quality services and financial growth. Examples of legal and strategic goals include implementing EMR, setting laws to govern the marketing strategies, and protecting the nurses and hospital staff at the workplace.

Mission and Vision Alignment

Legal and regulatory strategic goals align with the organization's mission and vision statements – to safeguard patient privacy and offer specialized and quality medical care.

Measurement

Measuring the progress of Steven's Hospital's regulatory strategic goals includes identifying compliance data and examining both positive and negative impacts of existing regulatory alternatives. The Hospital is compliant with various healthcare regulations set by the government and other regulatory authorities. Steven's District Hospital adheres to the Health Insurance Portability and Accountability Act of 1966 (HIPAA), which prioritizes patient privacy according to the Privacy Rule, which guarantees patients the protection of health information. The hospital management values the individual patient's privacy rights and thus does not disclose their health records without prior consent. Enforcing regulatory changes and healthcare reforms such as the Affordable Care Act (ACA) with insurance payment plans encompass the common legal and strategic regulatory goals in healthcare (Mousa & Othman, 2020).

Risk- or Quality-Improvement Goal

Goal

Steven's District Hospital's quality improvement strategic goals include reducing medication-related adverse events and focusing on improving the quality of health services

The Hospital's initiatives include optimizing outpatient care to ensure the patient issues are addressed at all stages, from outpatient to inpatient. Setting the outpatient facilities ensures the healthcare organization serves more patients, ranging from simple to complicated health conditions. Steven's Hospital recorded a decreased number of hospital readmissions and decreased medication administration errors to depict the role of quality improvement strategic goals in healthcare. The organization's quality improvement strategy enables the Hospital to plan for the future and address quality issues in customer services.

Mission and Vision Alignment

The quality improvement strategic goal aligns with the Hospital's vision and mission statements to improve the quality of care and enhance efficiency and effectiveness in healthcare delivery. Reducing the cost of operations and improving patient outcomes is the organization's primary goal toward quality improvement and customer satisfaction.

Measurement

Measuring the progress towards the quality improvement strategic goal would include evaluating the outcome of the service delivery process and analyzing customer reviews. Organizations measure service quality by analyzing customer feedback and reviews. Steven's District Hospital clients rate the facility and customer-service personnel as excellent because the organization's primary goal is to provide quality health services to patients and enhance their wellbeing. Patients are the best respondent to the quality of health services; thus, the organization prioritizes customer satisfaction and would always make critical decisions to improve service quality. I would measure if the quality improvement goal was completed by determining the safety of care, patient experience, data transparency, and mortality rate. The outcome of quality improvement strategy measurement would trigger process standardization to improve healthcare systems and achieve specific organizational goals and objectives (Hill, 2019).

Conclusion

Stevens District Hospital's strategic goals and objectives enable the healthcare organization to address patient needs by improving the quality of health services. The Hospital offers quality services to the patients, thus creating a broad customer base. The above-discussed strategic goals place the organization in a competitive place in the healthcare industry. Nonprofit healthcare organizations prioritize patient experiences and satisfaction over making profits, and so does Stevens District Hospital. The strategic goals must align with the organization's vision and mission statements to improve service quality and patient experiences. Healthcare strategic goals should be SMART (specific, measurable, achievable, realistic, and timely) to attain the organization's vision.

References

Hill, B. (2019). Why Perform a SWOT Analysis. Small Business-Chron. com.

Mousa, S. K., & Othman, M. (2020). The impact of green human resource management practices on sustainable performance in healthcare organisations: A conceptual framework. Journal of Cleaner Production, 243, 118595.

Shah, A. M., Yan, X., Tariq, S., & Khan, S. (2021). Listening to the patient voice: Using a sentic computing model to evaluate physicians’ healthcare service quality for strategic planning in hospitals. Quality & Quantity, 55(1), 173-201.