In recent years, the health sector has become a very competitive field. Health institutions have been forced to develop effective strategies to counter the competition. The only solution has been to improve the quality of health care and create a good rapport with the customers. Gaining ground on the market is not an easy affair in health care as it is a delicate balance between ethical issues and business strategies (Ward, W. J., 2004). Krona Community Hospital is on a mission to remain competitive in the health care sector within this region through ensuring effective delivery of quality care. A comprehensive business strategy coupled with a viable budget that moderate revenue and expenditure without compromising on health care quality have been the key pillars at Krona during the whole period of service to the community.
Krona’s proposed budget for this year is expected to place into effect several changes to reflect the ambitious projects of the health care projects as well as dedication to providing quality and affordable care. Inpatient revenue is expected to increase significantly by 10% in comparison to last year’s figures. There is thus a need to revamp the inpatient wing of the hospital. To achieve this, there is a need to evaluate the market demand externally and internally foe the rehabilitation services within this wing and use them to build a strategic plan. This should be coupled with having a highly qualified leadership team within this wing (Dunham-Taylor, J., & Pinczuk, J. Z., 2006). It is also important that we utilize the Commission on Accreditation of Rehabilitation Facilities (CARF) accreditation so that it serves as a marketing tool to the favor of the facility. There is also a need to put in place strict policies that will focus on implementing and utilizing metrics of tracking service delivery quality (Lindsey, J. S., FACHE, & Wetmore, D. D., 2012). This will provide a platform to build plans. Staff education and staff equipping should be taken as important aspects within this wing. With effective management and leadership within this wing, there is a big chance that the revenues will go high.
Currently, outpatient care and pharmacy are the most competitive sections of the health care in the market. Krona’s budget is expected to increase its outpatient revenue by 15% and the pharmacy revenue by 5%. This can be achieved through building close relationships with the patient. This implies serving each patient as an individual and increasing the interaction time between the patient and the physicians. This will build patient confidence which could turn out to be a strategic marketing tool for the facility (Ward, W. J., 2004). However, this cannot be done without having valuable knowledge on the services provided by the best performing outpatient providers within the locality. Thus, the target is to effect necessary techniques of gathering information about the competitors and suing this information to improve outpatient care within Krona. There is a need to engage the community through community based health care programs such as free medical checkups where marketing of services can be done at little cost (Marquis, B. L., & Huston, C. J., 2006). This would also go a long way in ensuring Krona is the first option for most people within the community. Closer association with the community gives the facility a confidence advantage with the customer. It is also crucial that all services within outpatient care are regularly updated to suit customer needs while considering what other competitors are offering (Marquis, B. L., & Huston, C. J., 2006). Pharmacy and outpatient care are all about being well informed on the level of service and quality of products offered to the community. These measures would effectively raise the revenues within outpatient care and pharmacy sections as long as a revamped enterprising leadership is put in place.
The proposed 15% home and hospital revenue increase can be achieved by implementing education programs for the heath care workforce. These education programs should focus on effective customer care relations. This would not only endear the customers to the services at Krona but also forge a healthy relationship worth the staff for the greater benefit of the heath institution. All this put together; worker motivation is the key pillar to all these strategies. Thus increasing the salaries and benefits of workers across the board will be a key requirement. The burden of providing quality service to the community while marketing the facility is not an easy task. A reward scheme coupled with increase benefits would make the workforce feel part and parcel of the facility (Wolper, L. F., 1999).
Conclusively, it is the duty of the leadership to chart the way forward and lead from the front. Increasing revenues is all about a dedicated and motivated workforce combined with proper organization. Krona Community Hospital has the resources and capital base to effect these recommendations within the shortest duration to achieve even beyond the projected figures.
Dunham-Taylor, J., & Pinczuk, J. Z. (2006). Health care financial management for nurse managers. Sudbury, Mass: Jones and Bartlett Publishers.
Lindsey, J. S., FACHE, & Wetmore, D. D. (2012, March 1). 5 Ways to Grow Outpatient Volume. Retrieved from http://www.beckershospitalreview.com/hospital-management-administration/5-ways-to-grow-outpatient-volume.html
Marquis, B. L., & Huston, C. J. (2006). Leadership roles and management functions in nursing: Theory and application. Philadelphia: Lippincott Williams & Wilkins.
Ward, W. J. (2004). Health care budgeting and financial management for non-financial managers (2nd ed.). Westport, Conn: Auburn House.
Wolper, L. F. (1999). Health care administration: Planning, implementing, and managing organized delivery systems. Gaithersburg, Md: Aspen Publishers.