Please write a 450 word discussion post reply to the following post. Must have two peer reviewed sources AND one biblical integration. Textbook is:
Langabeer, II, J. R. and Helton, J. (2021). Health care operations management (3rd ed.). Burlington, MA: Jones & Bartlett Learning. ISBN: 978-1-284-19414-2.
Instructions for original post are here:
Why should an operations analysis consider the organization’s strategic objectives? What are common operational metrics utilized by healthcare organizations. How are these metrics developed? Next describe how benchmarks are developed and how they can be useful in calculating results of operational metrics.
An operations analysis should consider the organization’s strategic objectives for many reasons. The utilization of ratio analysis is a frequent process in financial management for interpreting values on financial disclosures and putting them into some context about how an organization is performing (Langabeer & Helton, 2021). The same approach is exceedingly valuable in operations management for comprehending how efficiently an organization is producing services for patients (Langabeer & Helton, 2021). The above information suggests if operations analysis utilizes strategic objectives, they can produce and articulate performance levels for their organizations. It is imperative for organizations to employ healthcare managers who have superb financial management skills. If companies are not performing up to a specific standard financially, then perhaps there needs to be a consistent track of the companies financial transactions.
There are several common operational metrics utilized by healthcare organizations. The income statement is utilized by the organization for external reporting and internal management purposes, along with the balance sheet and statement of cash flows (Langabeer & Helton, 2021). Several organizations will even prepare income statements on a department level to aid managers in individual departments in managing the operations of a specific department (Langabeer & Helton, 2021). In order for companies to visualize and comprehend the revenue they bring in and their expenses, they must have professionals who are efficient and creating and maintaining income statements. “Many are the plans in a person’s heart, but it is the Lord’s purpose that prevails (New International Version Bible, Proverbs 19:21). Healthcare leaders should have plans set and goals for their healthcare organizations. However, God will have the final say so on an organizations success. Leaders should ensure they are prayerful at all times and they lead their organizations in a light that God will be pleased. An organization will only be as successful as the leaders that are guiding them. As a future healthcare manager, I understand the tremendous role that a managers plays in operating a healthcare organization. Leading a healthcare company will be extremely rewarding, but also come with some challenges.
Benchmarking is an extremely powerful tool in the healthcare industry. Benchmarks are developed by selecting organizations for comparison, collecting or observing data and processes, identifying sources of differential performance, and incorporating these benchmarks into performance scorecards and daily management processes (Langabeer & Helton, 2021). Many healthcare companies that underperform or fail as a whole, may not have had benchmarks conducted. Benchmarking can assist an organization in getting back on track financially, or figuring where they are lacking. Additionally, the data will provide hard statistics and evidence that relay an organizations performance level.
Benchmarks can be useful in calculating results of operational metrics. New benchmarks can be established as targets in performance scorecards and business plans to assist in setting goals for recurring advancements (Langabeer & Helton, 2021). Benchmarking is a performance tool used to contrast similar projects (Sharma et al., 2021). Utilizing the program, allows for hypothesize of data into useful comparative metrics (Sharma et al., 2021). The development of benchmarking for construction of healthcare facilities is relatively new (Sharma et al., 2021). Two programs, the Benchmarking and Metrics (BM&M), established by Construction Industry Institute (CII), and the Construction Best Practice Program (CBPP) are leading the way for the industry (Sharma et al., 2021). Quality Management System (QMS) has grown to be one of the most renowned quality techniques by applying various characteristics and quality philosophy dimensions (Rawshdeh et al, 2023). A QMS helps coordinate and direct an organization’s activities to meet customer and regulatory requirements and improve its effectiveness and efficiency continuously (Rawshdeh et al, 2023). QMS could be a utilized technique for healthcare leaders. It Is imperative for healthcare companies to work to constantly improve thee level of the quality of their organization.
References
Access your bible from anywhere. BibleGateway.com: A searchable online Bible in over 150 versions and 50 languages. (n.d.). https://www.biblegateway.com/Links to an external site.Links to an external site.Links to an external site.Links to an external site.Links to an external site.
Langabeer, J. R., & Helton, J. (2021). Health Care Operations Management: A systems perspective. Jones & Bartlett Learning.
Rawshdeh, M., Keathley, H., Obeidat, S., Al Athamneh, R., Rababah, M., & Furterer, S. (2023). Facilitators, barriers, and benefits of quality management systems implementation: Healthcare experts’ perspectives. Engineering Management Journal, ahead-of-print(ahead-of-print), 1-14. https://doi.org/10.1080/10429247.2023.2210493Links to an external site.
Sharma, V., Caldas, C. H., & Mulva, S. P. (2021). Development of metrics and an external benchmarking program for healthcare facilities. International Journal of Construction Management, 21(6), 615-630. https://doi.org/10.1080/15623599.2019.1573490Links to an external site.
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