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NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard

Directional Strategies

NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard
Improving access to excellent care begins regionally no matter grow older, income, work location, or even present wellness ailment, every specific needs to have a health and wellness safety net.
Telemedicine for mental and also medical health and wellness aid, featuring laboratory and drug purchases, along with the correct shift of treatment; to be a leading association in the United States in supplying the possibility to reside effectively and also operate effectively.
Place of work society, cooperation, innovation, versions, as well as methods that aim to deal with barriers, boost get access to, and decrease health disparities.
Health Net was created in California over four decades ago. They think everyone deserves a health safety net, regardless of age, income, work position, or present health condition. As a consequence, Health Net offers medical coverage for all phases of a person’s life and promotes health equity via the implementation of forward-thinking treatment protocols. Currently, the 2,600 employees and 90,000 network providers who make up Health Net’s workforce service three million consumers in the state of California. Health Net offers a wide range of medical coverage options, such as Medi-Cal, Medicare, and individual and family health insurance.

TOWS Analysis
Internal Factors
External Factors
Strengths
Many internet sites
Strongly taught and also trained workers
Unique area of the workgroup
Opportunities
Taking part in the area
Ways towards advertise
Hygienics
Weaknesses
Datasheet miscalculation
Hospital consultation
Threats
Adjustments to Medical insurance protection
Full week worker toughness
International break out
A TOWS study compares internal and external aspects to assist a business in identifying viable strategic choices.

Strengths: Healthnet has three million customers in California and can support them with its 2,600 employees and 90,000 network providers is one of the company’s strengths. In order to make the community as a whole better, Health Networks along with community organizations advocate for healthy lifestyles, combat poverty and violence, and more. Health Net supports the California Partnership to End Domestic Violence with pride. During the COVID-19 epidemic in 2020, Health Net gave approximately $130,000 to help domestic abuse survivors (Health Net Group, About us. n.d.). Additionally, Health Net has joined with Donate 4 Sacramento to guarantee that the most vulnerable people in the community get the necessary assistance throughout the epidemic. To enhance health equality and make COVID-19 vaccines available to as many Californians as possible, Health Net gave over 22,000 vaccinations to citizens in 70+ communities around the state. Health Net flew over 40,000 miles and conducted over 210 immunization clinics in less than a year (Health Net Group, About us. n.d.). Health Net also offers access to drug addiction programs, mental health services, employee support programs, and managed care solutions for prescription medications. Health Net, LLC and its related businesses, including Health Net of California, Inc., Health Net Life Insurance Company, and Health Net Community Solutions, Inc., provides these medical insurance plans and services. These organizations are wholly-owned subsidiaries of Centene Corporation (NYSE: CNC), a Fortune 25 firm that provides health insurance to approximately 26 million Americans. Health Net recognizes that Medi-Cal patients’ requirements are as varied as the community’s. Health Net has developed teams, methods, and strategies to tear down barriers, increase access, and minimize health inequities. Health Net pioneered a novel and award-winning approach to health equality. Managing successful relationships and encouraging responsiveness at the member, provider, and community levels boosts care quality and access for those who need it most. Due to these efforts, Health Net was the first health insurance provider to be awarded the NCQA accreditation for multicultural care.

NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard

Opportunities: Patients can compare the services offered by their firm to those of other health coverage providers in the region. They will also see the company’s culture, principles, and commitment to sustainability via the staff’s friendliness. This incentive is essential for Health Net to regain its competitive edge reputation. To keep ahead of rivals in the industry, businesses must know that marketing is the key to being vital and relevant. Advertising and marketing are instrumental approaches used to increase service awareness and aid in recruiting new patients (Sudbury Riley & Hunter Jones, 2021). It is also possible for it to come in the form of educational flyers, the website of the firm, social media, and third-party scheduling via Tele Health, all of which will save time for the patients as well as the staff as compared to the old ways of scheduling patients there. The health net has always prioritized patient safety, notably during worldwide pandemics such as the COVID outbreak.

Threats: Strategic planning and analysis are examples of factors that have contributed to Healthnet’s status as one of the industry’s leading providers for many years. The strategist frequently must choose the absence of facts demonstrating that one solution is better than another. In addition, this will be seen as something that will assist strategic managers in making more inventive decisions and help organize the data. This may be done so that its consequences are better shown, so judgment and opinion are more informed. Many local individuals’ health insurance coverages have altered in recent years. Several health insurance policies either pay for fifty percent of the services that are performed or refuse to authorize medical treatment for a variety of reasons it may also. This may significantly impact the company’s insurance billing and result in a decline or loss of income. Insufficient personnel is another contributing issue. The firm has had a high employee turnover rate, which might lead to overwork for the remaining workers. This may also be shown by a rise in the frequency of paperwork mistakes and unfinished tasks, which may lead to a decline in the number of patients, a lack of customer service, a decline in revenue, and, ultimately, a reputation loss among rivals.

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Weaknesses
The firm was manifestly deficient in some areas, the first being its inability to schedule patients in a timely way. Given that so many workers have been missing from the firm due to the pandemic, the remaining workforce has been forced to take up a great deal of extra work. This implies that critical everyday chores are not being accomplished. Putting patients on wait for a lengthy amount of time will encourage them to schedule appointments with rivals who can satisfy their demands in a more timely way. Since the organization has faced labor shortages, complaints about paperwork mistakes in the current workforce have increased. This is prompting the remaining staff to make mistakes such as incomplete paperwork and uploaded records without patient signatures on the forms, which are accessible to numerous doctors through EMR systems.

GAP ANALYSIS
Organization quantity
Team deficiency
Global period
Competition difficulty
Business volume is considered as an issue for Health net, were they expect revenue of $4 Billion, but the current annual revenue is only $ 1.8 Billion. Company has to plan a strategic method to improve the turnover to the expected revenue (Castro, 2022). Increase area of services, smart advertisement like online marketing, and staff incentives are the fewer suggestions to improve the business volume. Staff shortage is considered as the second issue, presently Health Net has 5724 Employees with a -2% grew in their employee count by last year (Zhang, 2021). This could be taken as serious mater, and improvement in the staff strength and quality should be confirmed. Currently the estimated revenue per employee of Health Net’s is $314,600. It has to be improved by providing proper learning system to upgrade employee skills. Being a Pandemic season, all the organization were faced several issues to manage the staff shortage and coverage values. This can be overruled by proving individual attention to the customers by technical advancement and providing easy accessibility such as Telimedicine. Competitor challenge may be managed by Staff strengthening, customer care efficiency building and by implementing technical advancement in field work.

NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard

BALANCED SCORECARD
Objectives
Measures
Initiatives
Financial
Increase revenue

Growth Initiatives.
Smart advertisement.
Growth strategies in high census specialties. Increase area of services. Online marketing. Staff incentives.
Customer
Individual attention to the customers
Technical advancement and easy accessibility.
Implement marketing plan to increase patient utilization. Achieve accreditation. Teli medicine.
Learning and Growth
Invest in employee training
Reduce employee turnover.
Advanced training programs
Invest in learning system to upgrade employee skills.
Yearly increments for scientific achievements
Currently, the 2,600 employees and 90,000 network providers who make up Health Net’s workforce service three million consumers in the state of California.
Currently the estimated revenue per employee of Health Net’s is $314,600. It has to be improved by providing proper learning system to upgrade employee skills.

Build individual customer care efficiency
Maximize the impact of advertisement on targeted community
Implement technical advancement in field work
Staff strengthening


RECOMMEENDATION BASED ON SCORECARD

Strategy I: Obtain certification from a recognized standard-setting authority.
objectives:
Ensure the organization continues to have its accreditation from The National Committee for Quality Assurance (NCQA).
The Joint Commission on Accreditation of Healthcare Organizations (JCAHO).

Strategy II: Patients will likely see changes to their health insurance coverage due to the ongoing worldwide epidemic.
objectives:
In order to increase the number of people covered by health insurance, the company’s policies and credentialing procedures should be reviewed.
Make cash payments available to all of the patients.

NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard

Strategy III: The firm has struggled with a lack of available workers.
objectives:
Assignments should be assigned relatively throughout the crew to reduce unnecessary overtime and the overall amount of labor.
Increased employee participation in corporate activities has been shown to increase overall productivity.
Provide incentives for completing a tremendous amount of tasks without making any mistakes.

Strategy IV: The business has to develop a new marketing and advertising strategy and implement it.
objectives:
Should make use of social media platforms such as Facebook and Instagram to reach a more vast audience.
Make use of telehealth options so that patients may be scheduled more quickly.
Use of print media to notify patients in the community about the services that are offered and the hours that they are available

References


Alzoubi, H. M., & Aziz, R. (2021). Does emotional intelligence contribute to quality of strategic decisions? The mediating role of open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 130. https://doi.org/10.3390/joitmc7020130
Castro, D., Dascoli, L., & Diebold, G. (2022). The Looming Cost of a Patchwork of State Privacy Laws. Information Technology and Innovation Foundation. Retrieved fro https://itif.org/publications/2022/01/24/looming-cost-patchwork-state-privacy-laws/ 
Health Net, About us. (n.d.). 2021 Health Net group. Retrieved fromhttps://www.healthnet.com/content/healthnet/en_us/about-us.html
Vanness, D. J., Lomas, J., & Ahn, H. (2021). A health opportunity cost threshold for cost-effectiveness analysis in the United States. Annals of internal medicine, 174(1), 25-32. https://doi.org/10.7326/M20-1392

NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard


Zhang, M. (2021). Estimation of differential occupational risk of COVID‐19 by comparing risk factors with case data by occupational group. American journal of industrial medicine, 64(1), 39-47.  Retrieved from https://doi.org/10.1002/ajim.23199

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