Managing Survival Strategies in Healthcare
Managing Survival Strategies in Healthcare Lawrence J. Hasenour Senior Project: HSA 459 Instructor: Timothy Pinkerton MBA/MHA March 19, 2011
Managing Survival Strategies in Healthcare It is survival of the organization that is the most fundamental of all organizational goals which Bertram Gross, renowned social scientist, described as “the iron law” and “the unwritten law of every organization.” (Liebler & McConnell, 2008, p.12). Survival demands vigilant and perceptive managers that will diligently stay abreast of sociocultural, technologic, economic and the demographic trends that develop throughout the expansive and far-reaching organizational community. It will demand discriminating managers who can successfully analyze and apply the myriads of incoming data to continue the organization’s competitive edge. He or she must also possess an accurate foreknowledge of trends, always discerning and staying abreast of the environmental forces that come to bear on the organization. The manager must recognize new opportunities when they present themselves while accepting calculated risks and boldly apply new approaches and courses of action to maintain their “sustainable competitive advantage” (Moseley, 2009). In the ever more competitive and challenging world of medicine the art of survival will entail extremely savvy and strategically minded managers who must give even greater attention to trends, regulations, rulings and revisions in a fierce and constantly changing environment of extreme turbulence with looming economic repercussions within the private sector and on both the state and federal levels. Constraints and restrictions to CMS reimbursements, decreased third-party payer reimbursements, Joint Commission rulings, required new technologies accompanied by increased
Managing Survival Strategies in Healthcare It is survival of the organization that is the most fundamental of all organizational goals which Bertram Gross, renowned social scientist, described as “the iron law” and “the unwritten law of every organization.” (Liebler & McConnell, 2008, p.12). Survival demands vigilant and perceptive managers that will diligently stay abreast of sociocultural, technologic, economic and the demographic trends that develop throughout the expansive and far-reaching organizational community. It will demand discriminating managers who can successfully analyze and apply the myriads of incoming data to continue the organization’s competitive edge. He or she must also possess an accurate foreknowledge of trends, always discerning and staying abreast of the environmental forces that come to bear on the organization. The manager must recognize new opportunities when they present themselves while accepting calculated risks and boldly apply new approaches and courses of action to maintain their “sustainable competitive advantage” (Moseley, 2009). In the ever more competitive and challenging world of medicine the art of survival will entail extremely savvy and strategically minded managers who must give even greater attention to trends, regulations, rulings and revisions in a fierce and constantly changing environment of extreme turbulence with looming economic repercussions within the private sector and on both the state and federal levels. Constraints and restrictions to CMS reimbursements, decreased third-party payer reimbursements, Joint Commission rulings, required new technologies accompanied by increased
References: AHIMA. (2011). Understanding ICD-10 Codes. Retrieved March 31, 2010, from http://ahima.org/icd10/understanding.aspx Anonymous Liebler, J.G., & McConnell, C.R. (2008). Management principles for Health Professionals (5th ed.). Sudbury, Massachusetts: Jones and Bartlett McKinney, M Moseley, G.B. (2009). Managing Health Care Business Strategy. Sudbury Massachusetts: Jones and Bartlett Publisher. Sanchez, M. (2010, December 3). Health care tops expected mergers and acquisitions activity for 2011. Mlive.com. Retrieved March 31, 2011, from http://www.mlive.com/business/west-michigan/index.ssf/2010/12/health_care_tops_expected_merg.html Weil, T