Professional Custom Accounting Papers: Leveraging Data For Healthcare

Professional Custom Accounting Papers: Leveraging Data For Healthcare


I will annotate what needed for final paper below

Abstract-( Separate page, describe the plan in one paragraph including what you want, both funding and approval of the project. Be persuasive)


(the organization, department and your position. Write in third person. Explain how your plan lis aligned with the organization’s mission, vision, and values. State purpose of the business plan and which strategic initiative your plan supports)


;( from your first assignment – only the diagram)

Abstract Comment by varinder:

The journey to the improvement of the patient experience score is usually long and business should be in a position to come up with a well-designed action plan that would help them realize their goals at the long run. Median Hospital is making a consideration to make a reduction of their patient wait time to 15 which means that they are supposed to take a good action plan that would help them achieve their goals with the shortest time possible. In order to become competitive in the market, health providers are coming up with new action plans in their departments in order to ensure that they meet the current needs and requirements of the patients. Taking such moves by the health care is crucial in ensuring that they make an improvement of their level of competitiveness as well as they have made an improvement on their services to their customer.

Plan Description (what exactly are you going to do to improve scored)

Ththe management of Meridian hospital has a better understanding that customers nowadays have a variety of choices for their care since there are so many healthcare providers in the market which means that the organization has to come up with means which are crucial in improving their patient’s experience in order to retain them. Making such a consideration would be essential in ensuring that the hospital is in a position to serve a large number of customers as well as they would be building their reputation in the market. In this paper, we are going to have a look at how the healthcare is in a position to come up with an effective strategy to improve patients experience score.

History or rationale (stick to your organization. Have your scored gone down? Are they worse than your competition? You can make up the scenario if you do not work in this area.

The healthcare is an industry which is observed to have an influence to everyone but over the years, the reputation of it from the customers has been substantially low as compared to other forms of industries in the market. However, in the current times, the patients/ customer experience score is nowadays turning out to be a focus of the healthcare companies and clinics. With the current advancement in the market, Healthcare providers have a greater chance of transforming their services in order to meet the needs as well as the expectations of their patients.

Market Analysis (Your information is interesting, but it isn’t relevant to your hospital.) Talk about who your competition is and if you can find their scores.

The current research in the market shows that hospitals and other healthcare providers are physicians are gaining a lot as a result of improvement of the customer’s satisfaction. For example, the Affordable Care Acts have introduced some of the metrics that can be used by the healthcare providers in an attempt to make an improvement in their patients care. Quality is crucial in attracting patients which in the long run translates into more revenues for the healthcare providers.

Some of the Industry trends with regard to Patients Experience Score Include;

1. Leveraging Data For Healthcare- In the past, hospitals have always collected data to use in their operations but in the current times, there is the use of automated systems which are in a place to make an improvement on the patient experience. In order or meridian Hospital to make an improvement of their patients care, they should be in a position to install automated systems which are able to improve the patients score to their 15 mi

2. Patient Personalization: The healthcare providers have come up with systems which are in a position to store personalized data in order to ensure that they are in a position to get the right information concerning a patient easily and without any difficulty. This is much essential in ensuring that their patient’s experiences score with regard to services offered to them

3. Using Wearable Devices in Healthcare: The wearable devices are considered as one powerful tool which is used to give personalized care to the patients. In our case, in order for Meridian Hospital should be in a position to ensure that their doctors give personalized services to their customers.

Market analysis (including competition)

The healthcare system in the U.S. has for a long period has experienced some level of unsatisfactory performance in terms of costs and quality. Thought it is state-controlled sector it is unimaginable that this sector is also highly competitive just like any other sector in the economy.

In a business set-up, it is observed that when the level of competition is high, there usually occur changes in terms of price adjustment and most of the case, the price levels of goods and services fall down while quality on the other hand improves. As a result of competition, there is a high likelihood that the level of innovation is going to rise up which gives rise to the delivery of quality services. In the healthcare sector, those uncompetitive providers are more likely to move out of the market. Comment by varinder:

In the healthcare sector, it is observed that the costs of offering their services are high despite the fact that there are several attempts to reduce them and this is not likely to associate with the improvement in the quality. It is observed that the healthcare is offered differentiated services but they design their prices depending on the quality of services they offer to their patients/customers. The level of completion is observed that the level of competition is the root cause of the problem that is associated with the healthcare performance. The U.S. healthcare system has made several attempts to reform the sector but it has failed greatly due to the fact that it is based on the wrong diagnosis of the problem.

Goals and outcomes (relationship to strategic focus)

In order for Meridian to achieve its goals in reducing the goals of reducing the wait to 15 minutes, it should be in a position to take the following actions/steps   Comment by varinder:

The main goals of Meridian Hospital would achieve the following goals Comment by varinder:

1. Conduct timely appointments

2. Offering of timely care

3. Starting their services on time. It is observed that those healthcare services that start their operations on time usually end them on time. If this strategy is adopted by Meridian Hospital, it would be in a position to reduce its target of reducing the patients wait time to 15 minutes.

4. The setting of expectations: In order for Meridian Hospital to realize their goal, they should be in a position to set-out essential expectations and have proper metrics in place in order to countermeasure their effectiveness. For example, the patient care experience score might be improved by taking the measure such as making a follow-up on patients.

Along these lines, it is important for your patient to know what to expect after their visit in terms of test results, follow-up visits, etc. I receive more complaints about the back end of our patients’ experiences than anything else. Make sure you and your staffs do not drop the ball as you near the goal line.

5. Putting the staffs in the right place: It is important that Meridian Hospital should be in a place to put their staffs in the right place or positions for which they have a high level of competency. This is more likely to work for the firm in ensuring that they deliver quality care within the shortest time possible.

Structure (including alliances, contractual relationships, etc.) What department are you discussing? Clinic?

In this section, we are going to talk about a contractual relationship that might exist among two parties which in this case are the Healthcare providers and the patients. Therefore, we are in a position to define a contractual relationship as a shared risk in which both parties attempt to cut down the costs and do their duties to the best of their abilities. In our case, the contractual agreement forms the basis of the patients and health rights, requests, and obligations. Therefore there is need to have key obligations which would be set out in order to ensure the goals to reduce the wait time for the patients has been reduced to 15 minutes. Some of these contractual relationships would include;

1. Ensuring that all the two parties have effective communication skills’

2. Ensuring that there are no delays in carrying out procedures.

3. Healthcare providers should have the right personnel to carry out their activities

Financial data overview: Include a summary of what financial data you examined or would examine. For each financial statement, describe the specific factors that informed you (net revenue, profit loss, balance sheet major) Comment by varinder:

Budgeting and financial plan are key for any healthcare in their attempt to maintaining their services and also running a sustainable operation. When the patient wait time is higher, a healthcare organization is more likely to incur a huge loss and this is what might have fostered Meridian Hospital to come up with a measure to reduce the patient wait time to 15 minutes. Some of the essential financial statements which I would be tempted to look at are the profit and loss statement of Meridian Hospital for the past five years. The profit and loss are defined as financial statements that are used to make a summary of the revenues, costs, and expenses which are incurred within a given period either quarterly or annually.

Comparing this information over the years would show a good track record of how the company has been performing over the years. After this, we would then look at how the company is performing after the implementation of a new move to reduce the customer wait time. I have a strong belief from the hospital management projection that the organization would be in a place to make an improvement on its profits by a great margin since as it would increase the ratio of patients served per day.

Personnel/Staffing (including provider relationships as appropriate ) Comment by varinder:

Coming up with an effective medical staffing strategy is quite challenging to the healthcare providers and therefore there is a need for them to come up with a proper plan in order to resolve the staffing issues. However, an organization such as Meridian Hospital has to factor in the following areas in order to ensure that it has a strong engagement and reduce the patients wait time through the following ways,

1. Onboarding new employees: This is crucial since it involves training and educating new employees on the essential requirements that they would be required to adhere to in order to realize the goal of the organization.

2. Engagement of the employees: It is essential for Meridian to involve all their employees at all levels in order to ensure that there is no form of resistance that they might face during the implementation of the new plan.

3. Retaining the employees: There is a need for Meridian Hospital to expand the responsibilities of their existing employees in order to ensure that they are in a place to meet the new plans. Comment by varinder:

4. Communication Plan – just use your plan from the stakeholder assignment. Putting it into a table or chart will be best.

Communication Plan – just use your plan from the stakeholder assignment. Putting it into a table or chart will be best.

Implementation schedule: Develop an implementation schedule that identifies the resources and competencies in your department and describes how they are matched to the strategic initiative. Identify how your action plan aligns with the organization’s strategic initiatives . Comment by varinder:

An implementation schedule plays a role in drafting a strategic plan for an organization since it assigns each step to a given individual and suggests that the possible completion time. For Meridian Hospital to realize its goal of reducing the customer wait time to 15 minutes and therefore the management should be keen when it comes to drafting their implementation schedule to ensure that it is in line with the needs of the organization. An action plan, on the other hand, is a detailed plan which is used by the management of an organization in outlining essential actions which would be used by an organization in order to realize their goals.


Evaluation: (it is best to identify how you will know if this project is successful. Look back at what you are measuring in your goals and objectives)

Conclusion: (no new ideas, be persuasive and ask for what you want – funding and permission to develop this program.

you had some good ideas, but your paper is too vague. Identify the exact wait time you want to improve, do some research and then identify how you plan to improve the time. Be very specific. Then follow what I noted above and you will do fine. Look at all the comments I made on your Action Plan. You will add the stakeholder information under the Communication heading.

Did you decide on which wait time you are going to reduce to 15 minutes. It makes sense that would be the clinic or radiology department, something like that. You stakeholders would be the staff, patients, providers, manager.

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