The purpose of any merger is to combine two different and already existing companies

The purpose of any merger is to combine two different and already existing companies

The purpose of any merger is to combine two different and already existing companies to form a new and bigger entity. This creates a stronger but single company. Dignity Health, which is based in San Francisco and Englewood, which is a Catholic Health Initiative based in Colorado, completed a merger in 2019 that resulted in the two companies forming a new $29 billion health system. The new nonprofit company is called CommonSpirit Health, and its national office will be in Chicago. The system will operate 142 hospitals, over 700 care sites, home health programs, living communities, and research programs. CommonSpirit has locations in as many as 21 states; however, their local facilities will continue to operate under their current names.

Financial Perspective

Objectives: they aim to realize more money through growth and cost-saving, which they expect to be around 8% margin in the next four years.

Goals: they look to continue their respective legacy of caring for the vulnerable population through contributing to charity and paying unpaid Medicaid, covering uncompensated Medicare cost and community benefit.

Indicators: the indicators of their financial growth will be the financial statements.

Initiatives: focusing on having strong operations as well as leveraging their diversity of services, thus giving a quality experience in the industry, which will bring a financial improvement.

Customer Perspective

Objectives: To achieve their vision, CommonSpirit is looking to show the customers and the market at large that their product and services have higher quality than the competition.

Goals: the company is dedicated to advance health for everybody

Indicators: this will be shown by the number of customers seeking their services.

Initiatives: include shifting to the provision of services outside of their facilities and moving to the community, homes as well as online.

Internal Process Perspective

Objectives: striving for excellence and setting a benchmark in quality control as well as innovation in the health care industry.

Goals: To create a healthier community, giving exceptional care to the patients, and also making sure that each person can access quality health care.

Indicators: when a bigger percentage of the population has access to quality health care and especially the less privileged.

Initiatives: include investing in technology, which will enable them to be more convenient, expand their expertise by giving specialty care, and emphasize caring for chronic and complex conditions patients.

Learning and Growth Perspective

Objectives: recruiting and retaining a dedicated and highly-skilled workforce that is willing to give service to others and have professional and personal fulfillment in the work they do.

Goals: have more professionals that have high education qualifications by intensifying their training and qualifications.

Indicators: verifying the number of achieved certificates by those taking an outsourced course and accounting for the number of hours spent in training.

Initiatives: a process that involves recruiting and selecting the most qualified employees.

Through employing these strategies, CommonSpirit will be able to achieve their vision faster than anticipated. Therefore, the scorecard is a good evaluation of what the new entity should do to be able to compete in the best healthcare providers in the business and achieve their goal of offering quality healthcare to all.