Strategic Management of Healthcare Organizations: A Stakeholder Management Approach (Strategic Management Collection)

Perhaps no industry today faces greater challenges than healthcare, and industry professionals are seeking novel solutions to the problems they encounter every day. Unfortunately, much of the conventional wisdom in business is based on theories developed in manufacturing organizations; however, running a healthcare organization like a factory can lead to dissatisfaction of some of the firm's most important stakeholders, including patients, managers, and employees, and it may even lead to inefficiency! Stakeholder theory offers an alternative approach that directly addresses these and other problems in healthcare organizations. It is based on developing trusting and productive relationships with stakeholders that lead to high levels of value creation, as indicated by stakeholder satisfaction, innovation, efficiency, and growth. This practical book includes state-of-the art thinking on stakeholder theory and strategic management to encourage a broader and more enlightened view of management. It outlines a process that is applicable to all levels of a healthcare organization, including evaluation of trends in the external environment that need to be addressed, analysis of internal resources, generation and selection of innovative solutions to the problems a firm is facing, and development of an action plan and control system to ensure that solutions are implemented and successfully address the most pressing issues Few industries are buffeted from as many strong forces as healthcare. The industry is highly regulated, thus dramatically increasing costs and sometimes even interfering with the ability to deliver healthcare. New drugs, treatments, and medical technologies are so common that keeping track of them can be overwhelming, and incorporating them into patient care or administration can be costly and complicated. This book lays a stakeholder foundation for managing a healthcare organization strategically. It contains step-by-step tactics as well as examples of HCOs that are having success with various aspects of the stakeholder approach in their organizations. As any experienced healthcare executive knows, making changes to a healthcare delivery system is like trying to modify an aircraft while it is in flight. The process is complicated and the consequences of mistakes can quickly lead to disaster. With this book, you’ll get a new approach to managing healthcare within your organization, an approach that will unlock innovation and create more value for a broad group of industry participants. Few industries are buffeted from as many strong forces as healthcare. The industry is highly regulated, thus dramatically increasing costs and sometimes even interfering with the ability to deliver healthcare. New drugs, treatments, and medical technologies are so common that keeping track of them can be overwhelming, and incorporating them into patient care or administration can be costly and complicated. On the social side, different groups have different opinions on any given topic and often the right thing to do depends on your point of view. Third party payers add another level of complexity, and competition adds yet another layer of difficulty as organizations seek to grow patient volume by positioning themselves as distinguished in terms of cost, quality, accessibility, and quality of patient experience Cover 1 Contents 8 Preface 10 Chapter 1: A Practical Approach to Strategic Management of Healthcare Organizations 14 Chapter 2: Managing for Stakeholders 26 Chapter 3: Strategic Direction 40 Chapter 4: Analysis of the Organization and Its Stakeholders 52 Chapter 5: Analysis of the External Environment 70 Chapter 6: Strategic Factors and Performance Measures 86 Chapter 7: Strategic Alternative Generation and Evaluation 98 Chapter 8: Implementation Planning and Execution 116 About the Authors 130 Notes 132 References 136 Index 140 Adpage 142 Cover 144