IN THE NEWS ASSIGNMENT
Total Health Care and Priority Health are Michigan-based healthcare organizations that received their merger last year of November. Complete health care operates in more than 2,500 health centers, and Priority Health serves more than 1,000,000 members. The Total Health Care-Priority Health aims to establish 25 million US Dollars to improve health results in Detroit. The two companies will continue to operate independently and maintain distinct and separate brands. Total Health care and Priority Health will unitedly send representatives to the foundation board who will be entitled to seek input from locals and local leaders (Jain & Zwetsloot, 2018).
The Balanced Scorecard is a strategic management system. And a useful tool to move an organization’s vision and strategy. The strategy is used in many sectors, and health is one of them. The Total Health Care-Priority Health is a non-profit organization, and it is mission-driven (Pathuri & Wang, 2017). It has four perspectives that it follows to achieve its mission:
Financial view: based on the financial aspect, the other organizational perspective, such as the customer, internal business process, and learning and growing, must lead to outstanding economic achievements. The economic outlook aims to increase revenue to accommodate growth, emphasize profitability, and shift to investment to minimize business risk. An increased number of customers leads to improved financial status. Innovation that will be made by either health care provider improvements and post-sale services will lead to increased economic benefits. The insurance fee charged on customers is retained within the merger, for one company cannot pay its partners.
Customer perspective: In the health sector, the customer is the patient. The organization can partner with health insurance vehicles so that they can be connected to the customers directly. The general public can be considered as customers. The organization puts the customers into segments and do a value proposition. The two organizations that merged have a strong foundation with over 1.25 million members. The partnering between insurance and an organization accepted and operating more than 2,500 health centers gives assurance to patients of services on any occasion of need. The sharing of the Medicaid market in Michigan will give the two organizations’ customers an ample field to get assistance. The opening of a foundation by the merged organization will promote and bring in more customers, hence increasing revenues (Daniel & John, 2017).
Internal business process: This type of perspective has three components that include; innovation, post-sale services, and lastly ongoing process improvement. The merger should work towards stability, and the organization should ensure that clinical staffs use the latest and effective diagnostic and methods of treatment. Post-sale services in the health industry include follow-up on services received, opportunities for improvement, and possible future innovations. The insurance will easily sponsor researchers from the health sector to bring in innovations. Due to the segmentation of customers, the organization can encourage the division of labor and specialization among workers, and the details saved can be used to offer after-sales services.
Learning and growing perspective: This is the final perspective of an organization, and it deals with the employment of learning and growth. The organization must provide employees with tools and be motivated. The organization should promote employees based on merit, and they should be encouraged to learn new skills. The employees should be encouraged to learn and grow on skills and abilities such as Information Technology and strategic alignment.
References
Daniel, B., & John, R., (2017). Healthcare Operations Management: Setting Goals and Executing Strategy. (page 71-96). Health administration press, Chicago, Illinois.
Jain, A., Leka, S., & Zwetsloot, G. I. (2018). Aligning Perspectives and Promoting Sustainability. In Managing Health, Safety and Well-Being (pp. 221-240). Springer, Dordrecht.
Pathuri, V., & Wang, H. (2017). Balance score card in health care organization.