Assignment: Strategic Planning Analysis- Rebranding Your Company
The emergence of technology advancement is widespread in most health care organizations. However, due to the financial cost of implementing electronic health records (EHR) and ICD-10 coding over the past 5 years, your company has failed to keep up with the technological advances and Federal regulatory compliance. Your role is to rebrand the organization by creating a "modern" mission, vision and values and discuss the strategic plan to ensure fiscal viability to implement the goals over the next 3-5 years.
Use your SWOT analysis from Week 3 as the backdrop. You have already identified the issues that are helpful and harmful to the mission, vision and values of your selected company. Your role as the financial manager is to work with the Senior Leadership to rebrand the company by creating modified mission, vision, values and objectives.
Write a two to three page paper. The first page must be an Executive Summary. The remaining pages should address the following:
1. Create a flowchart of the strategic process for departmental staff involved in the planning.
2. Questions to answer
a. What is the financial goal(s) you want to achieve?
b. What strategies will you use to achieve the goal?
c. What resources are needed to implement the strategy?
d. What budgetary issues should be highlighted
3. Implementation Timeline
a. What goals can be implemented in the first year?
b. What is the implementation process from year 3?
c. What is the strategic focus for Year 5?