On 200 words Discuss accountability within a healthcare organization. Discuss the strategic decision-making process on the basis of financial metrics. Define strategy, organizational performance, finance, and quality and their interactions. Then on two diferent paragraph give your opinion to
In healthcare, accountability is very important. “Accountability entails the procedures and processes by which one party justifies and takes responsibility for its activities” (Emanuel, E. J., & Emanuel, L. L., 1996). Those who are working in healthcare have to be held accountable for all of there actions. Every individual in the organization needs to feel like it is their personal responsibility to make sure patients get excellent care. Accountability starts at the top of an organization and flows down. The entire leadership team must feel a strong sense of ownership for not only their area of responsibility but for the entire organization.
“In the financial analysis and feasibility study of a strategic plan, a number of methods can be used to determine the financial returns; however, two methods are more popular than others. These two are the net present value (NPV) method and the internal rate of return (IRR) method (Sadeghi, S., Barzi, A., Mikhail, O., Shabot, M., 2013). If the proposal after each analysis isn’t profitable it will be denied.
A strategy is a plan of action put into place to achieve a major goal. Organizational performance is the companys performance against its objectives and goals. “Financial performance can be quite variableranging from provision of efficiencies in the organizations cost structure to improved market position through the delivery of a superior competitive product or service” (Sadeghi, S., Barzi, A., Mikhail, O., Shabot, M., 2013). A balance between strategy, organizational performance, finance, and quality is required for the success of an organizations mission.
Emanuel, E. J., & Emanuel, L. L. (1996, January 15). What is accountability in health care? Retrieved from https://www.ncbi.nlm.nih.gov/pubmed/8533999
Sadeghi, S., Barzi, A., Mikhail, O., Shabot, M. (2013). Integrating Quality and Strategy in Health Care Organizations, 1st Edition. Retrieved from https://purdueuniversityglobal.vitalsource.com/#/books/9781284070729/cfi/6/26!/4/[email protected] :0 and Tamara Seguin
Healthcare organizations have mission statements. If an organization does not state that quality is part of the mission statement it does not necessarily mean they do not consider quality important. One must question the choice of not stating quality as an important issue. Healthcare organizations have boards, some are classified as advisory and some are fiduciary. There has been a need for boards according to Integrating Quality and Strategy in Health Care Organizations (2013) to assist hospitals in quality improvements. According to Weber, D. O. (2018), the Joint Commission has reclassified the term core measures to accountability measures. There has been a rise in accountability within the healthcare system. Physicians, hospitals and providers are accountable to assure safety and the best result possible. There are six areas in accountability in healthcare, these are: professional ability, legal and ethical behavior, financial performance, access, public health and advancements of community benefits.
Strategic decision-making methods of financial metrics include, net present value (NPV), this method seems to be the one healthcare organizations prefer when assessing the financial returns of strategic plans. The second method is the internal rate of return (IRR), this method should be use when evaluating a project.
(Integrating Quality and Strategy in Health Care Organizations, 2013)
Performance of an organization is based on the mission of the organization. Performance is also determined by the organizations financial stability and quality. Strategic performance is based on financial and quality measures that result from a successful strategic plan. Quality performance is determined by an accumulation of successful short-term performances.
(2013). Integrating Quality and Strategy in Health Care Organizations, 1st Edition. [Purdue University Global Bookshelf]. Retrieved from https://purdueuniversityglobal.vitalsource.com/#/books/undefined/
WEBER, D. O. (2018). Achieving Accountability. Physician Leadership Journal, 5(3), 18. Retrieved from http://search.ebscohost.com.libauth.purdueglobal.edu/login.aspx?direct=true&db=f5h&AN=129151393&site=eds-live
with a total of two pages