Expert answer:Discussion Response #3

  

Solved by verified expert:A substantive post will do at least TWO of the following:Ask an interesting, thoughtful question pertaining to the topic.Provide extensive additional information on the topic.Explain, define, or analyze the topic in detail.Provide an outside source (for example, a website) that applies to the topic, along with additional information about the topic or the source (please cite properly in APA).Make an argument concerning the topic.
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Student #1
Moseley (2018) discusses in chapter 4 that the market and customers makeup two crucial
components of any industry’s external environment. (Moseley, 2018, p. 67) In
healthcare, patients and community health open up viable possibilities for development
and implementation of new ventures. A properly executed market analysis can provide
concrete data that can provide reliable market data about customers who need the
services to be made available by the new venture. If I were the CEO of a healthcare
facility, I would pursue innovation to gain a competitive advantage for the new
venture. Duarte, et al (2014) discuss the importance of innovation to a health system in
order for the facility to have a prominent place in the market. Innovation in technology
and leadership methods can play a significant role in improving outcomes in patient care
and cost containment. Through strategic planning, my facility’s strengths and
weaknesses can be analyzed and used to align the same with the goals and objectives for
gaining the needed advantage over other players in the market. (Duarte et al, 2014, pp.
21-27) One such piece of innovation would be a highly vetted and researched EHR
system that would allow for integration with other community providers and for
providing seamless, quality care to the community through stringent work flows,
medication reconciliation, monitoring of preventative testing and cost containment.
Reference
Moseley, III, G. B. (2018). Managing health care business strategy. Burlington, MA:
Jones & Bartlett Learning, LLC, an Ascend Learning Company. ISBN-13:
9781284081107
International Journal of Healthcare Management. (2014). Managing innovation in
hospitals and health systems: Lessons from the Malcolm Baldrige National
Quality Award winners. International Journal of Healthcare Management, 7(1),
21-34. doi:10.1179/2047971913Y.0000000052
Student #2
Market analysis gives companies a value to how the fluctuation of the organization will
thrive into furthering in the future. As a healthcare facility in this specific area I would
analyze the different aspects of this community, how the community can make a
difference with the organization. The rising and falling aspects of the future community
shows in healthcare what likely turns will occur with reviewing the past sicknesses and
issues that occurred and how the advancements went through a hospital (Global
Healthcare Analytics, 2016). By being in charge there is a need to review who the
healthcare organization is appealing to in the community, what is the other hospital
providing to in the community as well, plus how that specific hospital affects the
foundation for which I work for. Knowing those aspects would allow me to make new
additions to the hospital or inquire in different areas that are not being in seen or have
been having trouble getting an intake of patients. An analysis of what the specific market
a hospital provides for is going to improve the quality of care that is given in that type of
facility (Global Healthcare Analytics, 2016). Health organizations have to continually
recognize what is the importance of finding what the market value is, how they can
improve healthcare for the community they are in. The focus here needs to be on how to
fundamentally improve the market they are available to. Lacking this basic foundation for
a healthcare organization shows that in this field the organization will not survive without
knowing what the market is wanting or what the trend or need seems to be this year,
making things more complicated when trying to move the foundation forward.
Reference
Global healthcare analytics market to be driven by growing demand from emerging
economies: QYResearchReports.com. (2016, Jun 20). NASDAQ OMX’s News
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