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To provide comprehensive managerial recommendations for future strategic positioning of Hillsborough County Home Health Agency, Inc. (HCHHA), it is important to conduct a SWOT analysis of the current situation.
About the strengths, weaknesses, and threats in the current situation at the Hillsborough County Home Health Agency, the first recommendation regarding future strategies is to try encouraging the public-private partnership for the health-care community. Since Medicaid and Medicare grants cannot enhance the resources for community health care financing, it is important to find private sources for financing health care to attend the needs of the community members. Primarily long-term programs crucial for the community will be affected by such tendencies.
The second recommendation should concern the cost-efficiency of providing medical care. It is a reasonable suggestion that the current pricing breakdown appears to be inappropriate in the marketplace. For that reason, the recommendation is to reassess the prices for medical care depending on whether it is long-term or short-term programs. In such a way, only prices for short-term programs care should be lowered for HCHHA to stay competitive.
Finally, the expenses for the various programs should be reassessed to implement HCHHA’s new strategy, which is focusing on the quality of long-term care programs that are not always covered by other initiatives, including but not limited to Medicaid. Alongside those approaches, HCHHA should start trying to cut some expenses aimed at short-term care programs to sustain competition in this area as well.
Personal Health Services Division
There would be a substantial impact at all the levels of providing health care if HCHHA started lowering prices for all types of care by 10 percent and 20 percent. Among the members of the board, there are a lot of reasonable concerns about the fact that relatively higher prices offered by HCHHA would eventually decrease the number of patients who require medical services and, thereby, lower the revenues of the agency. There is also a high possibility that the current pricing breakdown appears to be not efficient enough in the marketplace. Because Medicare grants and financing programs hardly affect Personal Health Services Division, it is important to define the pricing breakdown with consideration for changing circumstances.
An abrupt lowering of the prices would directly affect the salaries of the medical professionals who work in this division. Given the fact, that, at the current state, salaries constitute 32 percent of the expenses, there is a high possibility that even a cut of 10% will lead to downsizing. As a result, there will be fewer professionals to provide the services that are still compatible, including LPN and RN home visits, etc.
United Appeal
The plan to address those issues should include focusing on long-terms care programs and the current wellness programs. It will mean prioritizing the areas in which the agency is a leading medical institution in the area. On the other hand, prices for the short-term and emergency services should be modernized. If possible, there should be public-private cooperation with corporate companies that would ensure that this segment of the Community Health Division stays sustainable and cost-efficient. If there is no possibility to ensure partnership with other organizations, prices should be reduced by 5 – 10 percent.
Lowering the prices should only apply to the least profitable services. The health care awareness strategies and community education will increase the number of people who pay careful attention to their health. As a result, from this model, the targeted population consisting of adults within the community is much more proactive in controlling their behavior and working to improve effectively the wellness of the community as a whole. That factor will help in
Staffing, Including in Jasper
It is important to point out the fact that one of the most obvious recommendations would be to lower the rate of an increase related to salaries, wages, and fringe benefits. On one hand, there are certain risks that the management needs to consider. However, on the other hand, analysis of staffing and related expenses shows that in a bigger perspective, it is only salaries and wages for the medical services in Jasper are expected to increase on a substantial scale. In such a way, to manage the difference between expenses on salaries and payroll and the current revenues, there should be several modifications.
Firstly, medical professionals in the county capital should receive an expected increase in salaries, wages and fringe benefits for the medical services of HCHHA that are growing in demand. Secondly, the salaries of a medical professional from the rest of the county should remain in a sustainable proportion to the agency’s revenues. In such a way, it will be possible to avoid downsizing.
Community Health Division Issues
The major issue is that 32% of the salaries of the people employed in this division come from fringe benefits. It is a disproportion to other divisions that should be eliminated.
The second issue in the management’s attention should be a problem of the role and function of this division should include promoting health awareness and wellness programs. The latter ones are the priority in the strategic plan, and the Community Health Division should be modernized to be more involved with those initiatives.
Finally, there is a need for a profound investigation of the expenses and medical services pricing breakdown since 10% of all travel and supply expenses are spent on this division. The program of this division should be reformed with a focus on wellness and long-term programs.
Financial analysis and utilization
In terms of liquidity and capital, current assets of HCHHA have decreased from 2013 to 2014. Although total assets increased, in the bigger scheme, it is only due to the net worth of property and equipment. It means that profitability is also declining.
Thus, the plan is to adapt the vision of HCHHA to modern circumstances. One of the main objectives is to expand the current wellness programs and community healthcare initiatives to attend to the current demand for health care, as well as to consider future expectations in the scenario of population growth. Long-term and wellness programs by HCHHA do not have analogs in the area, which is why they should not be reduced in price. Considerable effort should also address health care education in the community for the citizens to be more aware of their health care needs. In a two-year prospective, such utilization will increase profitability by increasing the number of patients in wellness programs.
Market analysis of undeserving towns
The vision should be altered for such towns as Jasper because of its growing demand for salaries. Wages should be increased for the medical professionals for whose services there is a growing demand, but fringe benefits should be stabilized because currently, they are disproportionate, which is why the mission should be corrected in Community Health Division.
Statement of Vision
New vision and its strategic priorities should rely on long-term care programs and the current wellness programs, which is why the management of every division is to be a more proactive execution of these programs. Within the next five years, proposed financial, staffing, and other recommendations are to expand the current wellness and community healthcare programs to meet not only current demands but also future expectations. With the change in priorities for the Community Health Division, there will be more people involved in wellness programs. It will allow the agency to keep the prices at their current rates and to provide salaries and benefits for the employees. Eventually, there will be more assets that are not related to property and equipment, and the overall profitability will increase.
Hospice Feasibility Study
Since the hospice needs Medicaid certification, it is important to make sure that it is a part of the strategic objectives of HCHHA. Thus, the opportunity for a merger should only be used when there is a stable new perspective about particular programs for the hospice. Otherwise, it is too cost-inefficient for HCHHA to go to such lengths in the current situation.
Staff Productivity and Travel Expenses
It is reasonable to implement the changes with the records and supplies system because it will help to overcome the disproportion in the Community Health Division. Even though it will change the current budgeting plan, stabilizing the situation among the different departments (especially, unprofitable ones) is the key to new strategies.
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