Wishard Medical Center: The Key Challenges

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Table of Contents

Introduction
The Environmental Factors Impacting the Management of Wishard
Strategic Leverage
Implications of a Stand-Alone Hospital
Strategic Steps Would Recommended for Wishard
Strategic Planning Initiatives
Conclusion
References

Introduction

Wishard’s competitive situation was its inability to effectively compete with its competitors. It faced issues such as rising costs to provide care, an increasing number of people who are uninsured, and high competition than before (Week 5 Case Study, n.d). Medicare and Medicaid were paying out much less than they had in the past. Wishard was known for taking care of Marion County’s poor people, which made rich patients who could pay shift to other established hospitals. The competitors were building more appealing buildings, which attracted wealthy patients. In addition, they had direct competitors because about a dozen other hospitals offered the same care to the indigent population (Week 5 Case Study, n.d). It was not the only healthcare offering services to the poor. Therefore, Wishard was in a dreadful situation since it could not gain a competitive advantage.

The Environmental Factors Impacting the Management of Wishard

There were several environmental factors that influenced the management of Wishard. Economic factors are among the aspects that adversely impact the management of organizations (Barston, 2019). Drawing from the case study, about 40% of patients treated at the hospital are uninsured and cannot pay for the services (Week 5 Case Study, n.d). Since its vision was to meet the healthcare needs of the underserved and everyone in Marion County, it treated all patients regardless of their ability to pay. Based on this, the hospital’s expenses increased while the revenue dropped (Week 5 Case Study, n.d). Political factors influenced the amount of funding Wishard was getting. Despite being a public facility, they did not get adequate resources from the government to enhance their operations and attract more patients. As a result, the lack of proper funding made it difficult for the management to run Wishard.

Strategic Leverage

Wishard’s strategic leverage over other area hospitals is its status as a hospital serving everyone regardless of their financial position. It is well-known for its philanthropic work and caregiving since it provides treatment to insured and uninsured patients (Week 5 Case Study, n.d). Although other hospitals in the area did not discriminate against the poor when it came to providing emergency care, most of the community’s uninsured patients were treated at Wishard’s facility. The community recognized that Wishard was essential to the local healthcare system (Week 5 Case Study, n.d). Based on this, people understood that removing it would significantly impact healthcare providers who would be required to take on the responsibility of providing care for poor patients.

Implications of a Stand-Alone Hospital

From a social perspective, a stand-alone hospital with a mission of serving indigent people will have to deal with high demands and increasing costs. As seen from the example of Wishard Health Services, a combined pressure from influx of patients and high costs will eventually lead to the hospital’s closure (Week 5 Case Study, n.d). Additionally, the hospital will not have adequate resources to run its operations. This is because most of its patients will be low-income individuals who cannot pay for the hospital’s services or may not be eligible for Medicaid coverage. As a result, the hospital’s expansion will not advance, and the strategies for improvement will face difficult obstacles.

Strategic Steps Would Recommended for Wishard

There are several steps that Wishard should adopt to solve the problem and achieve a competitive advantage. The first step should be reducing the cost of operations without compromising patients’ health and well-being. Wishard should start an extensive community wellness program to encourage a healthy lifestyle. This will reduce the number of hospital visits and help lower costs. The other approach to reducing overhead costs is to maximize the recording and billing of services provided. The second step is partnering with other health centers in the area, such as Clarian, to provide quality care to its patients. By exchanging patients with Clarian, they will be able to improve efficiency. The third step is increasing its status as a charity hospital and requesting donations from partners who support the mission. With this strategy, Wishard will be able to increase its funding to support its operations.

Strategic Planning Initiatives

Financial Planning

For Wishard to succeed, it must have an effective financial plan. The main challenge was determined by the lack of financial resources to run its operations. This means that finances are an integral tool for the organization to work. The short-term financial goal of Wishard is to find a deficit in its budget, which is between $20 to $80 million (Week 5 Case Study, n.d). The long-term financial goal of the organization is to have $750 million to build a new facility (Week 5 Case Study, n.d). To reduce the operating budget, the hospital should integrate digital documentation technologies such as cloud computing to make it paperless (Jedwab et al., 2019). This will help the organization reduce costs and enhance efficiency significantly. Therefore, Wishard should focus on integrating technology to lower expenses when offering services.

Human Capital Management

Human capital management is an approach used to handle talent in a manner that allows an organization to achieve its strategic objectives. Wishard should prioritize training to ensure that the employees have the right competency to provide quality services. They should create a conducive environment for workers to grow and develop personally and professionally (Stewart & Brown, 2019). For example, the hospital should have a flexible work schedule to give the employees ample learning time. This will help the organization retain its staff because training foster positive relationship. In addition, the hospital should create a culture where everyone has an opportunity to develop professionally. As a result, effective management of human resources should enhance performance and attract more patients who can pay for the services.

Operational Improvement

The operational improvement involves changing the hospital’s functions to improve efficiency and profitability. Since most of Wishard’s equipment has not been upgraded due to a lack of funds, there is a possibility that its operations are adversely impacted. To solve the situation, the hospital should focus on computerization to ensure that old systems are replaced. This can be done by mobilizing partners and donors. With automation, Wishard will be able to eliminate errors in its operations, which will make it attractive. However, the leaders of the organization must show the stakeholders that they are ready and willing to support the community and achieve its vision and mission to get adequate financial support.

Effective Marketing

The most appropriate marketing strategies are those that are focused on a specific audience. Modern consumers have drastically changed how organizations market and deliver their services (Chaffey & Ellis-Chadwick, 2019). Patients expect a healthcare experience as innovative and digitally advanced as any other industry. For Wishard to effectively market in the contemporary setting, it should consider using messaging applications and social media. Some of the apps that they should use are TigerConnect’s apps, which increase productivity and standard of care. In addition, the organization should consider increasing its presence on all social media to connect with many clients. Therefore, Wishard should use digital platforms to interact with different patients and stakeholders in the market.

Regulatory Compliance

Regulatory compliance involves adhering to laws, regulations, and guidelines established by relevant authorities. For Wishard, it can help mitigate risks such as security breaches and avoid disciplinary action that could lead to license revocations, damaged reputations, financial penalties, and losses. To achieve this, the hospital should create manuals addressing Health Insurance Portability and Accountability Act (HIPAA) good practices and ensure that every employee has a copy. Regular trainings on compliance with the established rules should be conducted. As a result, standards adherence should be enhanced through effective employee engagement.

Conclusion

Wishard Medical Center, a stand-alone public hospital with a primary mission of providing healthcare to low-income residents, has encountered various obstacles throughout its history. However, the government has shown that it is willing to fund the hospital throughout its operation. Wishard must use the strategic power that comes with being a charity hospital to manage the growing competition and rising operating expenses, as well as the decreasing ability of patients to pay for care. In other words, it must ask the community for assistance in the years to come. In addition, Wishard has the potential to increase its operational efficiency and strengthen its working connections with hospitals in the surrounding area. The organization should adopt effective strategies in the place of financial planning, human capital management, regulatory compliance, effective marketing, and operational improvement.

References

Barston, R. P. (2019). Modern diplomacy (5^th ed.). Routledge, London.

Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing: strategy, implementation & practice (7^th ed.). Pearson UK.

Jedwab, R. M., Chalmers, C., Dobroff, N., & Redley, B. (2019). Measuring nursing benefits of an electronic medical record system: A scoping review. Collegian, 26(5), 562-582. Web.

Stewart, G. L., & Brown, K. G. (2019). Human resource management: Linking strategy to practice (4^th ed.). John Wiley & Sons.

Week 5 Case Study (n.d). The Struggle of a safety net hospital. Web.

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