New CEO improves hospital morale

Closest Hospital is 60 miles away

Have Cardiac Services, Emergency Services, Maternity/Women's Services, General Medicine that are beneficial to the community

Weaknesses

Negative operating margin

Low morale among employees

Loss of community support

Departure of physicians

Low patient census

Opportunities

Work with the other hospitals in the healthcare system

Has been profitable and renowned for its high quality care in the past

New CEO that is driven to overhaul the hospital

Threats

Changing demographics

Economic Challenges in the community

Loss of market share

The community

Opportunities Threats

-Bring in new physicians -Perceived poor quality

-large service area -increase competition

-Supportive Board -Not enough financials

Strengths

-high quality +Bring new physicians +Use high quality and

-high satisfaction with high quality  satisfaction to draw in

-strategic CEO reputation. new patients.

Weaknesses

-low patient census +Bring suggestions to +Stimulate finances to

-low staff morale update hospital to the better the facility and

-hospital condition supportive board for boost staff morale and

deteriorating patient's visual stimulation. security.

-Determine if the quality of care has actually been experiencing a decline, or if this lower quality is in fact just "perceived" due to low morale in the facility or other outside factors

-Hire financial advisor and put time-sensitive action plan with specific financial metrics in place

-CEO should use strategic thinking and with a systems perspective when analyzing the hospital's current problems and potential future

-Schedule a strategic planning retreat with the board and invite select staff members (department heads and a few clinical staff) to join

-Begin actively planning for retreat and consider bringing in an outside consultant/facilitator to help ensure the success of the meeting

-Conduct competitor analysis: define services to be addressed, define service area, and identify all competition (since the competition is relatively new)

Strategic plan to bring in more physicians

Plan to change the perceived poor quality and update physical condition

Finances

--a detailed and strategic financial plan

--A group of current physicians and C-Suite members will create a board to scout for new physicians that want to help revitalize the facility

--The quality is already high, but it is not perceived that way, therefore, new marketing techquines to show that the patient satisfaction and quality is one of the highest around will help to revitalize the perceived quality.

--A financial advisor will need to be hired to "cut the fat and keep the meat." This meaning that any excess money that is unnecessarily spent will need to be recycled to make the facility have a better physical appearance. The advisor will work with the CEO as a new action plan is formed and implemented so the max profit will be the result.

--Not everyone will answer, but we are aiming for 25%

-Ask current patients to complete a survey about the facility because we are trying to revitalize the facility and their feedback is very valuable and will help us measure patient satisfaction

-Use past financials to measure the debt to income ratio,

-Financial metrics: market share, operating margin, gross revenue, capital expense, # of new patients, etc.

-Survey staff on their opinions of the workplace and if they would visit this facility if needed--why and why not

Revamp the marketing efforts for the hospital in response to any new information from the surveys and strategic planning retreat. (Retreat should have occurred between the 90 day and 6 month mark, ideally.)

Meet with members of QI team and other staff as necessary.

Consider offering another round of surveys to patients who are discharged in different areas of the hospital and compare their responses with survey results from the 90 day mark.

-CEO is new, needs to make sure he is in tune with the organization's MVV and makes an effort to understand the rapidly changing environment of healthcare and the immediate area that this facility is in, as well as the clients and staff that currently are involved in the hospital's operations. This is an opportunity for the new CEO to lead the hospital in a new, positive direction and make a big impact on the facility and the community in doing so.

http://usmansheikh.wordpress.com/2008/11/18/5-key-financial-business-metrics/