Managing Health Care Business Strategy

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2008-05-01
  • Publisher: Jones & Bartlett

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Visit the author's blog at http://managinghealthcarestrategy.blogspot.com/ . This is the definitive textbook on strategic planning and management in healthcare organizations for those pursuing a career in health care in undergraduate, business, and medical schools, As well as ancillary health professions such as nursing or physician assistant. Established health care professionals, including doctors who are completing programs in business administration, will also find this text to be extremely valuable in preparation for greater involvement in the management of healthcare delivery. The book features all the basic information on strategic planning and management within the unique context of organizations concerned with the delivery and financing of health care. it does this by noting the singular strategic environment in health care, explaining the special procedures and options available to health care organizations, and providing real-life examples in the form of case studies. Itincludes not only a description of the basic multi-step process of creating and then managing a strategic plan, but also a detailed look at the role played by the key business functions (finance, marketing, human resources, information technology, and law) as well as specific strategic options (merger/acquisition, reorganization, joint venture) and some of the popular tools for analyzing strategic situations (balanced scorecard, Six Sigma, SWOT).

Table of Contents

About the Authorp. xi
Prefacep. xiii
Basic Strategy Conceptsp. 1
Learning Objectivesp. 1
Definition of the Concept of "Strategy"p. 2
Purpose of Strategic Managementp. 5
Levels of Strategyp. 8
Strategic Thinking or Strategic Mindsetp. 11
Incremental Versus Revolutionary Strategyp. 13
Intended Versus Actual Strategyp. 13
Strategic Planning and Management Processp. 15
Strategic Directionp. 16
How Organizations Benefit from Practicing Strategic Planning and Managementp. 18
How Strategic Management Goes Wrongp. 19
Barriers to Strategic Managementp. 22
Focus on the Healthcare and Biotechnology Industriesp. 25
Environmental Forces That Affect Strategy-Making in the Healthcare and Biotechnology Industriesp. 26
Study Questionsp. 28
p. 29
p. 29
Referencesp. 30
Internal Audit of Strategic Assets: Resources and Competenciesp. 31
Learning Objectivesp. 31
Analysis of Historical Financial Performance and Current Financial Conditionp. 32
Resources and Competenciesp. 39
Breakdown and Evaluation of the Internal Value Chainp. 44
Study Questionsp. 50
Learning Exercisep. 50
Notesp. 51
Referencesp. 51
External Environmental Assessment: Law, Economics, Demographics, Technologyp. 53
Learning Objectivesp. 53
Strategic Benefits of a General External Environmental Assessmentp. 55
Difficulties in Conducting a General External Environmental Assessmentp. 55
Step-by-Step Process for Assessing the General External Environmentp. 56
Basic Categories of External Environmental Factors and Forces in Health Care and Biotechnologyp. 58
Interdependencies Among External Environmental Factorsp. 69
Information Sources for External Environment Assessmentp. 70
Tools and Techniques for Analyzing and Monitoring the External Environmentp. 71
What to Do with the Information on the External Environmentp. 71
Study Questionsp. 72
Learning Exercisep. 72
Notesp. 73
Referencesp. 73
External Environmental Assessment: Market and Customersp. 75
Learning Objectivesp. 75
Analyzing the Market and Its Segmentsp. 76
Analyzing the Customerp. 87
Planning Strategy to Meet Customer Needs in a Targeted Segmentp. 93
Study Questionsp. 94
Learning Exercisep. 95
Referencesp. 95
External Environmental Assessment: Industry and Competitorsp. 97
Learning Objectivesp. 97
Industryp. 98
Competitorsp. 114
Study Questionsp. 129
p. 129
p. 130
Notesp. 130
Referencesp. 130
Defining Future Direction of the Organizationp. 133
Learning Objectivesp. 133
Responsibility for Defining Strategic Directionp. 134
Missionp. 135
Visionp. 141
Valuesp. 143
Strategic Objectivesp. 145
Examples of Real-World Strategic Direction Documentsp. 148
Study Questionsp. 157
p. 158
p. 158
p. 159
Notesp. 160
Referencesp. 160
Formulating Corporate-Level Strategyp. 163
Learning Objectivesp. 163
Value-Adding Functions of the Corporate Centerp. 164
Manage the Portfolio of SBUsp. 164
Raise Financial Capital for Allocation to the SBUsp. 189
Allocate Resources and Services to the SBUsp. 189
Facilitate Synergies Among the SBUsp. 190
Choose a Parenting Style for SBU Interactionsp. 191
Participate in the SBU Strategic Planning and Management Processp. 191
Oversee and Monitor the Performance of the SBUsp. 192
Manage the Corporation's Relationships with External Stakeholdersp. 192
How the Corporate Center Can Reduce the Value Created by Its SBUsp. 192
Study Questionsp. 193
p. 193
p. 194
p. 195
p. 195
Notesp. 196
Referencesp. 196
Formulating SBU-Level and Functional Area Strategyp. 199
Learning Objectivesp. 199
Strategic Duties of SBU Managementp. 200
The Role of the Corporate Center in SBU Strategyp. 203
Formulating Strategy in SBUs and Individual Businessesp. 204
Selecting a Generic Business Strategy- la Porterp. 206
Functional Area Strategiesp. 218
Responding to Competitors' Strategic Movesp. 221
Study Questionsp. 223
p. 224
p. 224
Referencesp. 224
Implementing the Strategyp. 227
Learning Objectivesp. 227
Supportive Resources and Competenciesp. 228
Functional Area Substrategiesp. 233
Decisions and Actions for Implementationp. 239
Implementation Problems That Need to Be Monitored and Correctedp. 249
Study Questionsp. 250
p. 251
p. 253
Referencesp. 252
Monitoring, Fine-Tuning, and Changing the Strategyp. 253
Learning Objectivesp. 253
What Strategic Monitoring Involvesp. 254
Why Strategic Monitoring Has Become More Importantp. 254
Price of Failure to Notice and Respond to Strategic Changep. 255
How a Strategic Plan Can Go Wrong in Its Implementationp. 256
Key Principles of a Strategy Monitoring and Adjustment Programp. 256
Monitor the Past, Present, and Futurep. 258
Steps in Setting Up a Strategic Monitoring Systemp. 259
Strategic Parameters to Be Monitoredp. 261
Changes That Could Be Detected by a Strategic Monitoring Systemp. 266
Conclusions That Could Be Reached and Changes That Could Be Madep. 268
Study Questionsp. 269
Learning Exercisep. 270
Notesp. 270
Referencesp. 270
Strategic Financial Managementp. 273
Learning Objectivesp. 273
Financing of Capital Investmentsp. 274
Maintaining or Improving Organizational Creditworthinessp. 281
Allocating Capital Funds to Strategic Initiativesp. 289
Tracking the Financial Performance of New Strategiesp. 295
Common Mistakes in Strategic Financial Managementp. 296
Study Questionsp. 296
p. 297
p. 298
Referencesp. 298
Strategy in Other Types of Organizationsp. 299
Learning Objectivesp. 299
Benefits of Strategic Planning for NFP Organizations, Government Agencies, and New Venturesp. 304
NFP Organizationsp. 305
Public/Government Agenciesp. 312
Entrepreneurial Startups/New Venturesp. 318
Study Questionsp. 324
p. 325
p. 325
p. 326
Notesp. 326
Referencesp. 327
Indexp. 329
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