32 The Well-Managed Healthcare Organization EXHIBIT 1.11 Template of Dimension S

Question

32 The Well-Managed Healthcare Organization EXHIBIT 1.11 Template of Dimension Strategic Financial Major Concepts Healthcare Examples Ability to acquire, support, and effectively reinvest essential resources Profit and cash flow Days' cash on hand Credit rating and financial of HCO structure Unit cost of care Measures of safety and quality Internal operations, Ability to provide including quality and safety competitive service Quality, efficiency safety, and availability of service of care Processes and outcomes of care Timeliness of service Market Reflects all aspects Market share Patient and family satisfaction Measures of access for of relationship to and customer satisfaction disadvantaged groups Physician and employee Associate Ability to attract and satisfaction and ability to adapt and improve retain an effective associate group satisfaction Associate safety and retention Learning and motivation Training program participation and skill development Availability of emerging of workforce Response to change in technology, customer attitudes, and methods of care Trends in service and market Ability to implement changes in timely fashion exhibits tracks the stakeholder relations and mission achievement for each unit of the HCO, making clear what the unit's critical contributions are and allowing for negotiated goals with measured achievement. Quantified goals and measures substantially reduce ambiguity and clarify each team's and asso- ciate's obligation. Frequently posted results discourage procrastination. Whern customers frequently post ratings of your work and attitude, the ratings are difficult to ignore. Training Work processes and protocols must be learned by all users. Web-based outlines are helpful, but many healthcare protocols require users to master specific manual, verbal, and observational skills by practicing these processes regularly Exhibit 1.8 includes a number of training activities, or “knowledge trans- fer in Bronson's terminology. Bronson and other high-performing systems and hospitals invest about twice as much time- two to two-and-a-half wecks per associate per year-in training. Much of this trai through organized sessions, but much is provided "just in time," supplied on site by coaches, consultants, or leaders is made available

Explanation / Answer

In a scenario like the one given above, i.e., when an organization is in trouble on all fronts, it is best to start by building workforce loyalty. As given it is important for a company that its employees and other associates have faith in the company, they are ready to improve and change according to the market developments and demands, and are properly trained to tackle any difficult situation that comes company's way. It is laso important to reward these employees properly with decent salaries long with other rewards so as to keep them motivated to work hard and stick with the company.

Recovery Plan

1) The first step to recovery is to create a sense of belongingness among the employees. Workforce loyalty forms the crux of any successful company. Employees should be given appropriate working conditions under which they can be motivated to strive harder. This should be rewarded appropriately as well

2) The second step would be develop customer loyalty. Customers should exactly know what's happening in the company and what sort of services are provided by the company ( healthcare in this case). The prices that the company charges for those services should also be clearly stated and hidden charges should be zero or as low as possible. The company can also try to invest in CSR activities which would help in building its brand.

3) The final step consists of improving financials and operational recovery. This would consists of timely delivery of services, lowering of prices to match competitors and improving quality. With that company should also try to decrease its asset turnover ratio to make sure that money is not left idle.

Even though the action plan consists of multiple steps, the primary thing to do is to build employee (workforce) satisfaction and loyalty along with customer loyalty. Operatonal efficiency and financial stability would follow subsequently.  

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