Identifying Strategic Plan Issue Essay Paper

Identifying a strategic plan issue is an important first step in creating a strategic plan, but if there isn’t already a clear issue to be addressed, how can you determine what may make a meaningful impact on a community or organization? The answer is to consider the mission and/or vision of the organization, and then continue to ask questions until you arrive at an issue you feel confident will improve the organization in some way. Investigate to see if there is a particular segment of the organization that is underperforming or is not effectively meeting the needs of the population it is designed to meet.
Are there notable organizational achievements, successes, or failures that could be built upon or addressed? How are current and future trends in the industry likely to affect the organization? What strategic steps can be taken so that the organization is most likely to be successful in achieving the changes? Although it may initially feel like there are more questions than answers, delving into the current state of an organization will aid you in selecting a meaningful strategic issue.
For this Discussion, you will select and provide a summary of the strategic plan issue you wish to use for your Strategic Plan. You will have the opportunity to receive peer feedback before officially submitting your Strategic Plan issue for instructor approval in this week’s Assignment due on Day 7 of Week 2.
Note: Please try to submit your initial and response posts early this week to allow time to submit your Assignment by Day 7.
To Prepare:
Consider any feedback you received from your Instructor and colleagues during this week’s Discussion.
If appropriate, refine your focus to clarify the strategic plan issue. Conduct additional research as necessary to support your proposed plan.
Use the Strategic Plan Issue Template, provided in this week’s Learning Resources, to draft your Assignment.

Identifying a Strategic Plan Issue

Historical analysis of issue

Risk is a common concept within the health care environment. That is because medical facilities, staff and patients face numerous risks within the context of health care. As such, it is necessary for the health care organization minimize the facilities, staff and patients’ exposure to risks by assessing, developing, implementing and monitoring risk management plans. Identifying Strategic Plan Issue Essay Paper  A strategic plan can help in addressing the issue of risk management through presenting strategies that help the organization to reactively and proactively prevent incidences of injury or minimize the damages following an injury event (Dall’Acqua, 2019).

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Explanation of how evidence from the literature supports the need to address this issue

Given that each medical organization is unique, this is no one-model-fits-all for all risk management solution for medical facilities. Some of the challenges that a facility would face in risk management include how to prioritize between patient care, safety and finance. Other challenges include legislation impacting health care, existing and future policy, potential medical error, mandatory federal regulations, and patient safety.  The hazard of not preparing for these challenges can be significant with lasting effects. Failing to have a comprehensive risk management plan incorporated into strategic planning can result in financial losses, increased liability risk and compromised patient care. As such, the medical organization must evaluate potential risk and measure them in terms of potential negative effects. The risk assessment allows the organization to compare the probability of different adverse events occurring along with their impacts then rank these potential risks in terms of severity. On the basis of the risk assessment, the organization would develop, implement and monitor a risk management plan that is specific to its facility (Dall’Acqua, 2019).

Past attempts to address the issue

Risk management in health care is not a new concept. Rather, it has typically been applied based on each organization’s discretion. However, the 1997 IOM Report highlighted the need for risk management by estimating that between 44,000 and 98,000 people died every years as a result of medical errors. Since then, risk management has become a moral imperative within the health care industry. The need for risk management has risen in prominence and has turned into an imperative following evolution of the health care industry to include increased competition from new market entrants, and performance-based and value-based payment models that affect the bottom line (NEJM Catalyst, 2018).

Stakeholders

The key stakeholders to the included in the strategic planning process are medical personnel, management/owners, community members, patients, regulatory agencies, and unions. That is because they have a vested interest in the organization’s success and either depend on or serve they organization. Each one of them has a unique perspective on what it would take for the organization to be successful (Kavaler & Alexander, 2014).

Financial implications of the project

The risk management plan not only seeks to forecast potential problem areas that the organization is likely to face, but it also predicts opportunities. This helps in improving financial performance through directing investment in areas with the best returns and reducing potential financial losses from a risk occurring (Kavaler & Alexander, 2014).

References

Dall’Acqua, L. (2019). Forecasting and Managing Risk in the Health and Safety Sectors. Hershey, PA: IGI Global.

Kavaler, F. & Alexander, R. (2014). Risk Management in Healthcare Institutions: Limiting Liability and Enhancing Care (3^rd ed.). Burlington, MA: Jones & Bartlett Learning.

NEJM Catalyst (2018). What Is Risk Management in Healthcare? Retrieved from https://catalyst.nejm.org/doi/full/10.1056/CAT.18.0197 .  Identifying Strategic Plan Issue Essay Paper