OrthoIndy: Differentiation Strategy

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Table of Contents

OrthoIndy’s Strategic Tactics’ Potential
Strategy’s Congruence with Mission
New Strategy’s Effects on Consumers
Specialty Hospital’s Effects on Costs, Quality, and Availability of Care
Effects on Nearby General Hospitals
St. Vincent Health’s Reason for Creating Own Orthopedic Center
References

Several strategic factors led OrthoIndy to decide to establish its physician-owned orthopedic infirmary in Indiana. Such tactical aspects include the desire to differentiate the facility from the rest for competitive purposes. Undoubtedly, the initiation and subsequent success of a specialized cardiovascular hospital in Indianapolis partly explains OrthoIndy’s strategic move to concentrate on orthopedic care. According to Yang et al. (2019), paying attention to industry trends is essential to competition management. The cardiovascular clinic’s move implies a new tactic that hospitals in the U.S. may adopt with time to survive. The strategy will possibly benefit its first adopters, with latter implementers struggling to reap real benefits. Accordingly, specializing in orthopedic care proves OrthoIndy’s consciousness concerning the sector’s development and the determination to remain awake through a revolution.

Equally, medicine is a significantly costly specialization, while care delivery is an exorbitant undertaking. Medics anticipate offering patients the best possible care and receiving substantial returns to support a modest lifestyle. However, excessive competition in the general care delivery sector, where almost any clinician can handle every patient, makes it hard for doctors and nurses to get the anticipated benefits (Atiyeh et al., 2020). Therefore, differentiation becomes the only option for assured productivity and earnings, with medical practitioners compelled to select the less congested but highly demanded line, explaining OrthoIndy’s strategic decision.

Building their hospital further implies OrthoIndy’s desire to grant doctors possession, thus promoting their commitment to patients and care delivery. Mannion et al. (2019) note that many employed medics operate as private practitioners using public or employers’ resources. The argument connotes the absence of commitment among countless employed doctors assured of a salary every month regardless of the quality of care they offer (Mannion et al., 2019). OrthoIndy’s desire to correct the professionals’ misconception explains the starting of the present physician-owned and operated hospital where medics care for the patient more than money. Specializing grants OrthoIndy’s doctors the opportunity to completely focus on orthopedics, thus acquiring a natural ability realize substantial name, customer preference, and market share, which promotes competitiveness.

Lastly, OrthoIndy’s establishment of its hospital implies the strategic desire to control costs. Aufegger et al. (2019) maintain that many workers’ disconnection from the management facet leads to unhealthy job expectations. The scholars note that the issue leads to pressure as facilities’ management struggle to balance employees’ expectations with the market reality. Clinicians’ desire for better pay to meet increasing living costs often pushes them to demand a pay rise, frequently contradicting the prevailing economic situation and patients’ reduced earnings (Aufegger et al., 2019). Similarly, the management staff’s high salaries increase hospitals’ pays lip expenses to levels that exploit the facilities’ financial ability (Thompson et al., 2021). OrthoIndy seems to understand such issues appropriately, leading to the establishment of an owner-operated hospice comprising pure medics who deliver specialized care at minimal prices, contributing a generally enhanced significance to the community.

OrthoIndy’s Strategic Tactics’ Potential

I trust that OrthoIndy’s strategic tactic works effectively by delivering real results to the organization. The reassurance results from several aspects of actual performance indicators concerning the adopted tactic. For example, functioning as an owner-operated facility saves OrthoIndy from spendthrift tendencies experienced by the other players in the market. OrthoIndy’s strategic plan of acquiring trained, certified, and qualified orthopedics substantially limits the number of employees and facility owners. The hospital has a manageable team of eighty physicians interacting directly with clients and directly involved in its development. Such a small number of workers managing some of the most complex bone and human skeleton issues contradicts many other competitors’ incapacitating cases, making OrthoIndy a real success story. Equally, basing the strategy on frequent complex medical issues and selecting the best-specialized care providers guarantees OrthoIndy’s success, according to Walston (2018). The facility partners with numerous physical activity and sporting agencies connected to persons exhibiting skeletal problems as part of its strategic operations. The aspect, coupled with the excellent patient-centered care delivered by skilled professionals, delivers an experience to patients instead of mere service, proving the strategy’s effectiveness.

Strategy’s Congruence with Mission

Fashioning a customer experience distinct from the others in Central Indiana is OrthoIndy’s operating mission. The mission statement reiterates the essence of differentiation from the other players. Before adopting the new plan, OrthoIndy operated as a referral facility, depending mainly on transfers from the other hospitals for the hospice to treat patients and earn. Operating like many other referral facilities thus limited OrthoIndy’s chances to realize its objectives. The emergence of a specialized cardiovascular clinic in the locality and the resultant success informed OrthoIndy’s tactical move. The organization intends to make money and help medics realize the joy of their calling. Having a small number of convenient locations and a manageable team of highly specialized and skilled doctors who interact directly with patients offers a rare experience gratifying to the customers and medics. Therefore, the situation discloses a stimulating correspondence between OrthoIndy’s strategy and mission.

New Strategy’s Effects on Consumers

The care delivery sector is highly critical due to its involvement in life-related issues. Life is precious, and anyone involved in its protection or promotion must handle it as such (Balak et al., 2020). The healthcare principles reiterate the aspect, including beneficence, justice, and non-maleficence. Falling ill makes patients uncomfortable, with everyone expecting to land into a caring and skilled medic for treatment and healing. Such customers’ expectations oblige hospitals to vet and employ medics with excellent skills, often requiring specialized training. The matter is absent in many hospitals, as numerous hospices target money and basic care provision, according to Mannion et al. (2019). Consequently, OrthoIndy’s strategy aligns the facility with patients’ anticipations for focused treatment (Walston, 2018). The tactical move by the sanatorium thus promotes consumers’ trust in the provided care, with the already implemented physical amenities, such as the pre and post-surgery facilities, giving patients tangible benefits and joy. The rooms have satellite-provided internet providing patients with essential fitness content in video form. Therefore, OrthoIndy’s strategic invention promotes patients’ trust in care and satisfaction, which is thus essential.

Specialty Hospital’s Effects on Costs, Quality, and Availability of Care

Specialty clinics, such as Indiana Orthopedic Hospital, can help reduce the cost of medication, improve the quality of care, and promote the availability of care for consumers. OrthoIndy’s strategy to have medics own and operate the facility cuts operational costs significantly. The hospital has 80 specialized doctors offering direct care to patients, thus contributing mutually to the organization’s cash flow. The situation creates a scenario where every doctor generates his or her salary, leading to sustainability. Excluding the costly management team in offices working on strategies and HR issues without directly bringing finances to the organization reduces OrthoIndy’s HR expenses, leaving the firm with substantially healthy financial ratios. Accordingly, the fact that organizations charging high prices to customers do that to pass the cost burden to the patrons saves OrthoIndy from the mess (Walston, 2018). The firm’s reduced operational cost allows it to charge minimal fees, proving the strategy’s effectiveness in cutting the cost of care in a nation.

Specialization allows OrthoIndy to employ qualified doctors and promote their perpetual skills development. The condition allows physicians to improve their care delivery capabilities, promoting the quality of care patients receive. However, specialization can lead to mixed results on matters of care availability. For example, OrthoIndy’s specialized doctors avail the specifically required orthopedic professionals to patients requiring improving care access. Nevertheless, the facility’s limited number of caregivers may cause long waiting due to high demand and challenging accessibility. The matter is solvable through the employment of more skilled doctors, making the strategy sound.

Effects on Nearby General Hospitals

OrthoIndy’s specialization strategy affects nearby hospitals differently depending on the previous relationship. For example, facilities seeking specialized orthopedic partnerships for complex case referrals esteem OrthoIndy’s strategy after delivering a solution to their problem. Equally, the clinic (OrthoIndy) is a source of encouragement to the many positive thinkers in the industry looking for a way to manage the overwhelming competition in the sector. However, facilities seeking market dominance feel pressure from OrthoIndy’s creativity and potential authority. Lastly, general hospitals initially depending on the facility for general referrals now suffers the pressure of finding new partners after OrthoIndy’s inclination to specialized care.

St. Vincent Health’s Reason for Creating Own Orthopedic Center

Rivalry and reactivity explain St. Vincent Health’s creation of its orthopedic center after OrthoIndy’s strategic move. Arguably, St. Vincent anticipates OrthoIndy’s eventual supremacy, which it seeks to counter. On the other hand, there is likelihood that St. Vincent realizes the existing orthopedic care’s high demand in Indiana and the U.S., thus aims to share the market with OrthoIndy. Stiff competition in the healthcare sector makes every player search for the slightest opportunity to realize market leadership. As proven by St. Vincent hospital, the duplicability of care provision makes copying strategies easy. However, the competitor must establish sustainable plans to match OrthoIndy’s well-thought strategy.

References

Atiyeh, B. S., Rubeiz, M. T., & Hayek, S. N. (2020). Aesthetic/cosmetic surgery and ethical challenges. Aesthetic Plastic Surgery, 44(4), 1364-1374. Web.

Aufegger, L., Shariq, O., Bicknell, C., Ashrafian, H., & Darzi, A. (2019). Can shared leadership enhance clinical team management? A systematic review. Leadership in Health Services, 32(2), 309-335. Web.

Balak, N., Broekman, M. L., & Mathiesen, T. (2020). Ethics in contemporary health care management and medical education. Journal of Evaluation in Clinical Practice, 26(3), 699-706. Web.

Mannion, R., Davies, H., Powell, M., Blenkinsopp, J., Millar, R., McHale, J., & Snowden, N. (2019). Healthcare scandals and the failings of doctors: Do official inquiries hold the profession to account?Journal of Health Organization and Management, 33(2), 221-240. Web.

Thompson, R., Paskins, Z., Main, B., Pope, T., Chan, E., Moulton, B., & Braddock, C. (2021). Addressing conflicts of interest: Evidence review and recommendations.Medical Decision Making, 41(7), 1552-681. Web.

Walston, S. L. (2018). Strategic healthcare management: Planning and execution, 2^nd ed. Health Administration Press; Association of University Programs in Health Administration.

Yang, X., Liu, X., & Song, J. (2019). A study on technology competition of graphene biomedical technology based on patent analysis. Applied Sciences, 9(13), 2613. Web.

Click Here To Order Now!