TheMedicalCenter of Southern Indiana(MCSI) has undergone ups and downs that influenced the formulation offar-reaching strategies that would enhance the sustainability of thebusiness. Between 1992 and 1998, the facility implemented variouspolicies that were meant to improve the quality of services as wellas generate more revenue. Some of the initiatives include raising themanaged-care contracts, collaboration, create home health agency,purchase of better equipments, and improve their current services.The initiatives yielded positive results as seen in their financialstatements. Nonetheless, there emerged challenges and opportunitiesthat required the hospital administrators to re-examine theirstrategies. Competition, changes in government reimbursement policyand changes in managed-care organizations contributed to the need tohave new policies.
Extensiveassessments using the SWOT analysis would help in assessing theorganizational processes such as positioning, competitiveintelligence, and situation planning at the institution. Using thisstrategic tool, the hospital administrators would be in a position tounderstand both the external and internal facets that influencequality service, satisfaction and business sustainability. Further,the tool would be essential in examining approaches that would helpin addressing the emerging challenges and opportunities. MCSIfaces competition from other established hospitals hence the need toimprove their approaches towards market penetration and expansion.Additionally, it is appropriate for the institution to assess theopportunities brought by health care reforms. Formulating goodbusiness-level strategies will help in addressing the opportunitiesand challenges brought by health care reforms. The strategies willalso help in addressing the threats brought by competition within theindustry. The corporate-level strategies are required to link boththe external and internal strategies. Issues to be addressed undercorporate strategies management functions, investor relations, andcustomer relationships(Rakich, Longest, & Darr, 2010).It is also important that the administrators help the staff inimproving their competencies through training. Ordinarily, theworkforce plays a significant role in the provision of services. Itis thus apposite that good humanresourcesstrategies are implemented to help in addressing the loopholes andweaknesses among the staff.
Toenhance its competitiveness, MCSIneedsto continuously offer affordable and quality services that willenhance growth and satisfaction among the clients. It is alsoappropriate for the institution to invest in research and developmentas a means to generate new and better approaches geared towardsmeeting their goals. Anotherimportant approach is to enhance their partnerships and collaborationwith the stakeholders who include insurance firms, healthcareinstitutions, regulators, clients and non-state actors in the healthsector, among others. Partnerships will help improve the quality ofservices by addressing the concerns raised by the stakeholders(Rakich, Longest, & Darr, 2010).With the increased concerns about sustainability, the role oforganizations in contributing positively to the welfare of thesociety has become necessary. Changing dynamics and increasedexpectations from the stakeholders have forced organizations to mindabout the interests of the society. As such, it is appropriate forMCSIto create a foundation that will undertake the CSR initiatives. Theinitiatives may include fundraisingensure that all patients can access quality health care servicesnotwithstanding their ability to pay.
Inconclusion, MCSIstands a better chance to compete effectively with otherinstitutions. Through appropriate strategies, the institution willmeet its short-term and long-term objectives.The strategies will also help in coping with the high competition andchanging consumer needs. Overall, the institution will have a goodfinancial standing, reputation and sustainable business that considerthe interests of the stakeholders.
Rakich,J. S., Longest, B. B., & Darr, K. (2010). Casesin health services management.Baltimore : Health Professions Press.