Hca 421 Week 4 Responses.
Read the “Staying on Course with Strategic Metrics” article. As a future health care administrator, you will be required to evaluate the strategies, efficiency, efficacy, and outcomes of your department or strategic business unit (SBU). After examining the article, analyze the strategic alternatives that result from monitoring strategic metrics pertaining to your in the role of a department or SBU manager. List at least two strengths and weaknesses of basing strategic alternatives solely on strategic metrics. Support your primary response with at least one scholarly source. Provide in-text citations and complete references for all sources used. Format your post according to APA style as outlined in the Ashford Writing Center. Respond to at least two of your classmates’ posts
Joshua Porter post
Strategic Metrics evaluates the global success of any organization by analyzing feedbacks and allowing incompetence within the organization to help determined. Strategic Metrics are related to the organization goals and vision to help reflect on the finances, internal issues and ability to keep customers coming. There’s specific management metrics such as, customer service, final products, fiscal reports or statement which cumulate to the overall achievement of the organization. It’ll take a strong leadership to observe all progress in every objective and direct any plan that will be implemented to the organization.
As SBU manager of a medical facility, it is my responsibility to ensure the facility have the most skilled individuals with proper credentials to do a specific job. Most importantly, establishing behavior control between managers and employees. Behavior control not only provides checks and balances for SBU strategy development, but also provides a common vocabulary that facilitates dialogue among SBU managers and fosters the creation of ambitious strategies (Kownatzki & Walter, 2013). There ae two levels of metrics which are being strategic or manage metrics. My strategic metric would be to create long term goals and projects to allow my organization to abide by the organization mission and establishing the values of this organization. However, I will demonstrate management metrics to grade the quality of care, medical professional’s performance for rewards or administrative write-ups, patient satisfaction surveys and the gross profit or loss. In addition, management metric will be used for staff volume depending on the needs of the communities, productivity of the service and look at how many resource I must work with or order to fulfill the organization needs.
Kownatzki, Maxmilian; Walter Jorge; Floyd, Steven W.; Lechner, Christopher. Academy of Management Journal. Oct2013, Vol. 56 Issue 5, p1295-1324. 30p. 1 Diagram, 3 Charts. DOI: 10.5465/amj.2011.0804.
Angles Boger. Post
The article discusses the need for two different types of metrics, including management metrics and strategic metrics. The strength of “developing strategic metrics is selecting a finite set of measures” (Krentz, DeBoer, & Preble, 2006), that will keep the plans linear in focus. When the steps are broken down, the focus and actions can be concentrated toward that goal. Part of the strategic metrics can include interval assessments to gauge progress and changes are made when necessary. The strategic metrics are focused more so on aligning with the vision and goals of the company as the management side focuses on the day to day details with their metrics. The strength in that is there is more focus on the main objectives rather than getting bogged down by the menial details of every day operations. Even though those details are important, they are set under the management metrics.
A weakness for strategic measures of any financial gains can be that “most hospitals and health systems don’t have credible cost accounting systems in place” (Krentz, DeBoer, & Preble, 2006). Another weakness can include the data collection is in delay of the actual results. It is very difficult to collect up to date data and apply the metrics for the updated data.
Krentz, S. E., DeBoer, A. M., & Preble, S. N. (2006). Staying on course with strategic metrics. Healthcare Financial Management, 60(5), 86-93. Retrieved from the ProQuest database.