Healthcare: Strategic Management Research Paper

Healthcare management (Strategic operations plan) Several studies, including Kelly Barnes, show that healthcare generally moves from "costly settings" such as hospitals into cheaper and more flexible options, such as retail clinics and mobile health

What this actually shows as a future trend is that the global recession has played an important role in defining the customer profile. Clients are no longer interested solely in the best available services, but in low-cost services. For this, they look at flexible options and, in the same context of flexibility, they look more and more towards customization. Customization includes customized treatments and customized location (home, hospital, clinics, mobile)

At the same time, the demand for innovation remains key. The Harvard Business Review points to the demand for innovation in emerging markets, such as China and India, but this is also true, to a different degree, for the U.S. market

. Innovation can take different forms, but it aims to provide better services for lower costs, so it will fit the previously identified trends as well.

Taking all these elements into consideration, what I propose is a fertilization clinic. There are several elements to motivate this decision. First, a fertilization clinic addresses a certain category of consumers, namely those with high revenue and, usually, higher education. A focus such as this on the respective segment of clients will ensure that the clinic will have a constant cash flow that will keep it away from any financial difficulties.

Second, fertility rates in the United States have significantly decreased since the 1950s and 1960s, despite a period of stabilization during the 1980s, and are now at the lowest values in history, with 63 birth per 1,000 women in 2012

. A wide variety of factors likely contribute to this decrease...

...

The clinic can devise customized approaches for each patient, depending on their needs, and ensure that their treatment takes into consideration a wide array of factors, including biological or socioeconomic factors. A fertilization clinic will fit the existing trend and benefit from a lot of opportunities, including in terms of innovation.
Location is important because it will likely affect the business. First of all, a fertilization clinic is an urban clinic, so the center (or centers, once the business expands) will need to be located in cities, preferably large cities to ensure a larger mass of potential customers. The fertilization clinic will also need to be located in a good neighborhood within the city. As previously discussed, the clinic targets a particular socioeconomic category of customers, and these are likely to want to move between neighborhoods to which they are accustomed. The location should also offer different facilities, such as parking spaces.

This plan has also alluded to the fact that the company could potentially expand into foreign markets as well. The research showed that the Indian and Chinese markets are markets of continuous expansion, where innovation is required. However, a fertilization clinic is not likely to function well in these countries with fertility rates that are already quite high. Other external markets could be considered, including in Central and Eastern Europe.

The customer type that this business targets is well educated and has a high income. This latter aspect cannot be emphasized enough: fertilization treatments are usually very expensive. He or she (the fertilization…

Sources Used in Documents:

Bibliography

1. Barnes, Kelly. Factors affecting 2014 Medical Cost Trend. PriceWaterHouse Coopers. On the Internet at http://www.pwc.com/us/en/health-industries/behind-the-numbers/index.jhtml. Last retrieved on March 6, 2014

2. Top Trends in Healthcare, medicine & pharmaceuticals. What's Next. On the Internet at http://www.nowandnext.com/?action=top_trend/list_trends&sectorId=10. Last retrieved on March 6, 2014

3. N.a. Megatrends in Global Health Care. On the Internet at http://hbr.org/web/extras/insight-center/health-care/globaltrends/2-slide. Last retrieved on March 6, 2014

4. Child Trends. (2013). Fertility and birth rates. Available at: http://www.childtrends.org/?indicators=fertility-and-birth-rates
Barnes, Kelly. Factors affecting 2014 Medical Cost Trend. PriceWaterHouse Coopers. On the Internet at http://www.pwc.com/us/en/health-industries/behind-the-numbers/index.jhtml. Last retrieved on March 6, 2014
Top Trends in Healthcare, medicine & pharmaceuticals. What's Next. On the Internet at http://www.nowandnext.com/?action=top_trend/list_trends&sectorId=10. Last retrieved on March 6, 2014
N.a. Megatrends in Global Health Care. On the Internet at http://hbr.org/web/extras/insight-center/health-care/globaltrends/2-slide. Last retrieved on March 6, 2014
Child Trends. (2013). Fertility and birth rates. Available at: http://www.childtrends.org/?indicators=fertility-and-birth-rates


Cite this Document:

"Healthcare Strategic Management" (2014, March 06) Retrieved April 24, 2024, from
https://www.paperdue.com/essay/healthcare-strategic-management-184481

"Healthcare Strategic Management" 06 March 2014. Web.24 April. 2024. <
https://www.paperdue.com/essay/healthcare-strategic-management-184481>

"Healthcare Strategic Management", 06 March 2014, Accessed.24 April. 2024,
https://www.paperdue.com/essay/healthcare-strategic-management-184481

Related Documents

Health Care Strategic Management The deliberative model in healthcare is expected to meet quite a few of the needs of the American public regarding the general area of healthcare. Of the many areas that may decide to look at this problem, an attempt is made here to look at two specific problems. One is the need of patients taking medicine properly and the other is the needs of patient care among

Healthcare Strategic Management In healthcare programs, I would like to implement a free healthcare service to poor people at least once a week. This is to provide assistance to those who are not blessed enough to fund their health checkups and care. Even if this program will not show profit, I believe that providing the needy with the health service that they need can help in the maintainance of good health

Health Care Strategic Management There may be many reasons for change, but there is a demand now in United States that the changes in healthcare market take place now to remove the present inconsistency in quality and efficiency. The main reasons driving the reasons for change have been seen to be patient safety and quality, the move towards digitalization, demographic changes, workforce issue, financial issues, and the search for excellence. There

Health Care Strategic Management Data is very important for all companies as having a poor quality of data involves costs of many dollars to American companies. According to studies done in the U.S. The total value of the cost of wrong data to the companies is more than $600 billion and that was in 2002. The amount is certainly large and will also increase as the quantity of business increases, and

These environmental factors of patients' rights with regard to reporting their medical histories, allowing them to review them, and also ensuring they are archived to HIPAA standards are all risks for the clinic as well (Huang, Liu, 2011). The governmental factors that pose the most risk to the clinic are the regulations on how quality management programs are put into place and reported over time (Edmund, 2010) and the requirement

Strategic Healthcare Management How is the strategic planning process for a healthcare organization different from that of other service industries? It is often said that there is no good time to become ill -- however, from the health care provider's point-of-view, an unplanned rise in community ailments is an unfortunate unplanned excess cost to the organization as well as an unfortunate blow to a number of individual's states of health. This is