Pearce and Robinson describe strategic management as the art of making complex, long-term, future-oriented decisions and taking actions that result in the formulation and implementation of plans designed to achieve a company's objectives. The process focuses on the belief that a firm's mission can be best be achieved through a systematic and comprehensive assessment of both its internal capabilities and its external environment (Pearce & Robinson, 2005). In the article Strategic Management, the strategic management process is described as the implementation of the company's strategy by executive management considering its resources, circumstances, and environment to position the organization to complete is mission in a cost-effective, efficient manner. The corporate goals, policies, and tactics are incorporated into this process (Strategic Management, n.d.). This paper will concentrate on the initial stages of using the Strategic Management Process to create a strategic plan and will examine how AIM HealthCare Services, Inc. (AIM) has applied the process to their business. To accomplish this it is best to have a basic understanding of AIM.
AIM is a leading provider of claims cost management services and is a privately held company founded in Brentwood, Tennessee, June 1995. AIM's business is divided into two main components: on-site provider audits and system-based data reviews. The goal of each component is to identify and recover claims that are overpaid or prevent the payment of claims that lead to overpayments. Within these components, AIM focuses on hospital-based inpatient and outpatient, physician, pharmacy, home health, and other claims from a clinical and financial standpoint. Now that the basic function of AIM is understood the next step is to look at their mission statement.
Black's Law Dictionary defines "payor" as the person who is to make a payment and... [continues]
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