Steven’s District Hospital’s Strategic Goals

Steven’s District Hospital’s Strategic Goals Worksheet
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Steven’s District Hospital’s Strategic Goals Worksheet
Introduction
Vision and mission are dominant at the start of every organization in different sectors. Vision is a clear statement that defines what the organization wants to achieve in the future. It is a visual picture of what the organization is trying to become. Vision inspires and motivates employees to join and contribute to the organization. On the other hand, the mission statement is action-oriented and declares the purpose of an organization to its audience. The mission statements lead to the strategic goals of an organization. This paper looks at some of the strategic goals Stevens District Hospital can come up with based on the results of the SWOT analysis to determine the best strategy for the hospital to ensure its competitive advantage.
Goals
Financial Goal:
Goal
Increase the net revenue from the current $344 million to $500 million in the next five years to allow for the expansion of hospital services.
Mission and Vision Alignment
Increasing the hospital’s revenue will be a challenge due to its current bed space at the hospital along with other challenges such as scheduling requests for primary care physicians. However, this is a goal that Stevens District Hospital (SDH) must actualize if it intends to actualize its mission and vision. First, SDH’s mission is to improve healthcare. By increasing its revenue, the hospital will increase its service capabilities which may include accepting more patients taking up primary care physician services in the hospital. In addition, the hospital’s vision will require a lot of financial muscle to actualize, especially with the intent to grow SDH’s family practice physicians. Increasing revenue will entail actions that automatically align with SDH’s mission and vision. For example, increasing the satisfaction of primary care patients will provide a better rapport for the hospital, and since word-of-mouth is a highly reliable marketing strategy, it will lead to a growth in the number of patients in the long term. The outcome of such improvements includes an increase in the number of physicians at the hospital, improved quality and service, and increased patient satisfaction which in turn brings SDH closer to its HCAHPS goals (Giordano et al., 2010).
Measurement
Measurement of the financial performance of the hospital will be based on its financial reports annually. At the end of every year, the hospital will audit its financial reports to determine areas of improvement or where they are lagging behind. Quarterly financial reports will be used to assess performance before the end of the year and make smaller strategic changes based on these reports.
Economic Goal:
Goal
Increase the number of physicians for family practice and primary care from the current three. The target should be more than 6 physicians, preferably more than 10 to enable the hospital to increase its input to the county’s economy through the additional income.
Mission and Vision Alignment
A hospital has a role to play in the economy of its surrounding community. Although most of the money spent on supplies and other facilities may not necessarily end up within the locality of the hospital due to the economics of supply, a substantial amount ends up being spent locally both by the hospital and its employees. Increasing the number of physicians has a trickle-down effect on other areas of operation in the hospital. It is these trickle-down effects that will help SDH to accomplish its mission and vision. For one, increasing the number of physicians will mean more work for other supporting roles in the hospital. Some of these new employees, including the physicians and those in supporting roles will live and spend their income within the community, which is advantageous to both the hospital and the ...