Managing Health Care Business Strategy

by Moseley, George B., III

• ISBN13: 9780763734169
• ISBN10: 0763734160
• Edition: 1st
• Format: Hardcover
• Copyright: 2008-05-01
• Publisher: Jones & Bartlett

Summary

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. It includes 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 Author	p. xi
Preface	p. xiii
Basic Strategy Concepts	p. 1
Learning Objectives	p. 1
Definition of the Concept of "Strategy"	p. 2
Purpose of Strategic Management	p. 5
Levels of Strategy	p. 8
Strategic Thinking or Strategic Mindset	p. 11
Incremental Versus Revolutionary Strategy	p. 13
Intended Versus Actual Strategy	p. 13
Strategic Planning and Management Process	p. 15
Strategic Direction	p. 16
How Organizations Benefit from Practicing Strategic Planning and Management	p. 18
How Strategic Management Goes Wrong	p. 19
Barriers to Strategic Management	p. 22
Focus on the Healthcare and Biotechnology Industries	p. 25
Environmental Forces That Affect Strategy-Making in the Healthcare and Biotechnology Industries	p. 26
Study Questions	p. 28
	p. 29
	p. 29
References	p. 30
Internal Audit of Strategic Assets: Resources and Competencies	p. 31
Learning Objectives	p. 31
Analysis of Historical Financial Performance and Current Financial Condition	p. 32
Resources and Competencies	p. 39
Breakdown and Evaluation of the Internal Value Chain	p. 44
Study Questions	p. 50
Learning Exercise	p. 50
Notes	p. 51
References	p. 51
External Environmental Assessment: Law, Economics, Demographics, Technology	p. 53
Learning Objectives	p. 53
Strategic Benefits of a General External Environmental Assessment	p. 55
Difficulties in Conducting a General External Environmental Assessment	p. 55
Step-by-Step Process for Assessing the General External Environment	p. 56
Basic Categories of External Environmental Factors and Forces in Health Care and Biotechnology	p. 58
Interdependencies Among External Environmental Factors	p. 69
Information Sources for External Environment Assessment	p. 70
Tools and Techniques for Analyzing and Monitoring the External Environment	p. 71
What to Do with the Information on the External Environment	p. 71
Study Questions	p. 72
Learning Exercise	p. 72
Notes	p. 73
References	p. 73
External Environmental Assessment: Market and Customers	p. 75
Learning Objectives	p. 75
Analyzing the Market and Its Segments	p. 76
Analyzing the Customer	p. 87
Planning Strategy to Meet Customer Needs in a Targeted Segment	p. 93
Study Questions	p. 94
Learning Exercise	p. 95
References	p. 95
External Environmental Assessment: Industry and Competitors	p. 97
Learning Objectives	p. 97
Industry	p. 98
Competitors	p. 114
Study Questions	p. 129
	p. 129
	p. 130
Notes	p. 130
References	p. 130
Defining Future Direction of the Organization	p. 133
Learning Objectives	p. 133
Responsibility for Defining Strategic Direction	p. 134
Mission	p. 135
Vision	p. 141
Values	p. 143
Strategic Objectives	p. 145
Examples of Real-World Strategic Direction Documents	p. 148
Study Questions	p. 157
	p. 158
	p. 158
	p. 159
Notes	p. 160
References	p. 160
Formulating Corporate-Level Strategy	p. 163
Learning Objectives	p. 163
Value-Adding Functions of the Corporate Center	p. 164
Manage the Portfolio of SBUs	p. 164
Raise Financial Capital for Allocation to the SBUs	p. 189
Allocate Resources and Services to the SBUs	p. 189
Facilitate Synergies Among the SBUs	p. 190
Choose a Parenting Style for SBU Interactions	p. 191
Participate in the SBU Strategic Planning and Management Process	p. 191
Oversee and Monitor the Performance of the SBUs	p. 192
Manage the Corporation's Relationships with External Stakeholders	p. 192
How the Corporate Center Can Reduce the Value Created by Its SBUs	p. 192
Study Questions	p. 193
	p. 193
	p. 194
	p. 195
	p. 195
Notes	p. 196
References	p. 196
Formulating SBU-Level and Functional Area Strategy	p. 199
Learning Objectives	p. 199
Strategic Duties of SBU Management	p. 200
The Role of the Corporate Center in SBU Strategy	p. 203
Formulating Strategy in SBUs and Individual Businesses	p. 204
Selecting a Generic Business Strategy-à la Porter	p. 206
Functional Area Strategies	p. 218
Responding to Competitors' Strategic Moves	p. 221
Study Questions	p. 223
	p. 224
	p. 224
References	p. 224
Implementing the Strategy	p. 227
Learning Objectives	p. 227
Supportive Resources and Competencies	p. 228
Functional Area Substrategies	p. 233
Decisions and Actions for Implementation	p. 239
Implementation Problems That Need to Be Monitored and Corrected	p. 249
Study Questions	p. 250
	p. 251
	p. 253
References	p. 252
Monitoring, Fine-Tuning, and Changing the Strategy	p. 253
Learning Objectives	p. 253
What Strategic Monitoring Involves	p. 254
Why Strategic Monitoring Has Become More Important	p. 254
Price of Failure to Notice and Respond to Strategic Change	p. 255
How a Strategic Plan Can Go Wrong in Its Implementation	p. 256
Key Principles of a Strategy Monitoring and Adjustment Program	p. 256
Monitor the Past, Present, and Future	p. 258
Steps in Setting Up a Strategic Monitoring System	p. 259
Strategic Parameters to Be Monitored	p. 261
Changes That Could Be Detected by a Strategic Monitoring System	p. 266
Conclusions That Could Be Reached and Changes That Could Be Made	p. 268
Study Questions	p. 269
Learning Exercise	p. 270
Notes	p. 270
References	p. 270
Strategic Financial Management	p. 273
Learning Objectives	p. 273
Financing of Capital Investments	p. 274
Maintaining or Improving Organizational Creditworthiness	p. 281
Allocating Capital Funds to Strategic Initiatives	p. 289
Tracking the Financial Performance of New Strategies	p. 295
Common Mistakes in Strategic Financial Management	p. 296
Study Questions	p. 296
	p. 297
	p. 298
References	p. 298
Strategy in Other Types of Organizations	p. 299
Learning Objectives	p. 299
Benefits of Strategic Planning for NFP Organizations, Government Agencies, and New Ventures	p. 304
NFP Organizations	p. 305
Public/Government Agencies	p. 312
Entrepreneurial Startups/New Ventures	p. 318
Study Questions	p. 324
	p. 325
	p. 325
	p. 326
Notes	p. 326
References	p. 327
Index	p. 329
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