• Explain how the strategic plan provides focus and direction for Stevens District Hospital.

Goal TypeSMART GoalMission and Vision AlignmentTracking and MeasurementResources for GoalFinancial or Economic Goal- The economic and financial issues faced by the healthcare sector are often intertwined with the challenges faced by patients and providers. These include the rising cost of healthcare, the complexity of insurance policies, and the lack of transparency in reimbursements.Within the next couple of years, we aim to increase our annual revenue by 15% by implementing effective billing strategies and enhancing our service offerings.It aligns with the organization's mission statement by improving people's well-being and population health through increased resources and financial stability.The goal is to measure progress through the tracking of revenue growth. There are various milestones that can be achieved, such as launching new services and streamlining processes.Investments in billing software, training for staff members, and market research are needed to identify potential service expansion opportunities.Technology Goal- The objective of this goal is to improve the efficiency and effectiveness of various processes through the use of technology.Within 18 months, a comprehensive EHR system should be implemented to improve the coordination of patient care and enable data accessibility.The goal of this project is to enhance the experience of patients by facilitating efficient data exchange.The goal of this process is to monitor the progress of the EHR system by comparing the percentage of records that have been migrated to it with the timeline for the implementation. Various milestones have been set such as the selection of the vendor and the completion of the project in 18 months.The required resources include funds for the acquisition of electronic health records (EHRs), training for employees, and IT personnel.Legal or Regulatory Goal- This goal aims to ensure that companies follow relevant industry standards and regulations. It involves devising procedures to satisfy legal requirements while maintaining ethical practices.To ensure that they are following all the latest healthcare legislation, your company must regularly undergo audits and training initiatives.

This objective aligns with the commitment of the organization to providing the best possible care to the communities it serves.

The goal of this program is to continuously improve the compliance of our company through regulatory and internal audits. We will also implement training programs and complete an initial audit in three to six months.Various resources are required, such as the recruitment of compliance officers and the development of training modules for physicians and employees.Risk- or Quality-Improvement Goal- This discipline is focused on improving the quality of healthcare services by reducing risks and enhancing the safety of patients. It usually involves implementing various measures to prevent errors and other issues.To reduce hospital-associated infections by 20% within the next twelve months, strict infection control measures must be followed.It aligns with the notion of delivering exceptional experiences by enhancing the quality of care and patient safety.The goal of this project is to improve the effectiveness of infection control measures by continuously monitoring and comparing the rates of infection. The program will also include implementing various steps to reduce the spread of bacteriaSome of the necessary resources include staff training, infection control tools, and communication plans for both patients and staff.

Part 2: Evaluation of Financial or Economic Issues on Health Care

Write a 350-word evaluation on some financial or economic issues you have seen or read about in health care.How will your SWOT analysis and established goals assist an organization in improving the issues you identified?

There are various economic and financial issues that affect the healthcare sector. Some of these include the rising cost of healthcare, the complexity of insurance policies, and the need for more transparency in reimbursements. An organization's financial goals are typically focused on improving its profitability and revenue. This can be accomplished through controlling expenses or managing its resources in an efficient manner.

The term SWOT Analysis is used to describe the various factors that can affect an organization's success. These include external and internal elements. While weaknesses and strengths are internal factors, threats and opportunities are external ones.

The economic and financial issues related to healthcare are diverse. One of the most common problems that patients face is the lack of clarity regarding the pricing of medical services. This can make it hard for them to manage their expenses. In addition, the rising cost of medical equipment and pharmaceuticals can also affect the overall healthcare budget. Although the US spends more on healthcare than other nations, it does not have the same level of healthcare outcomes. Rising healthcare costs are a key factor that has caused the country's national debt to increase. They also make it harder to address the COVID-19 pandemic and other public health issues.

Healthcare spending is typically regarded as a function of the price and utilization of services. There are various factors that can increase the utilization and price of healthcare, which can in turn boost spending. One of these is the aging population.

A SWOT analysis can help identify the various issues that affect the healthcare industry. Hospitals can implement strategies that aim to improve their billing and expand their service offerings to reduce costs and pass on savings to patients. They can also enhance efficiency by implementing an electronic health record system.

In terms of regulatory and legal issues, staying up-to-date with the latest regulations can help prevent costly penalties and ensure financial stability. Complying with infection control protocols can also help minimize the financial strain caused by healthcare-associated infections.

The SWOT analysis showed that adopting technology and enhancing quality management can help hospitals cut down on costs and increase efficiency. A hospital's non-profit status can also attract financial support, which could help alleviate some of its financial problems.