NURS FPX 8010 Assessment 2 Strategic Plan Appraisal

Name

Capella university

NURS-FPX 8010 Executive Leadership in Contemporary Nursing

Prof. Name

Date

Strategic Plan Appraisal

Planning operations in a healthcare organization are deemed necessary. For this purpose, healthcare facilities develop a strategic plan. This plan is essential for the organization to provide direction, alignment, and focus for its operations. It establishes clear objectives, identifies opportunities and threats, and guides resource allocation (Dennis, 2019).

The Ohio State University Wexner Medical Center is a recognized university hospital located in Columbus, Ohio. This healthcare facility offers comprehensive healthcare services, such as advanced medical treatments, research, and education. With state-of-the-art facilities and a multidisciplinary approach, it provides exceptional patient care across various specialties (Ohio State Medical Center, n.d.). This paper delves into the strategic plan of the Ohio State University Wexner Medical Center.

Strategic Plan Analysis

The organization’s mission is to improve health in Ohio state and across the world through three essential aspects: research, education, and patient care. It aims to become a foremost academic healthcare facility that transforms individuals’ lives and brings healthcare improvements to communities. Simultaneously, the vision of this organization is to advance knowledge and discovery, resolve healthcare programs, and provide excellent patient care (Ohio State Medical Center, n.d.). The organizational’ strategic plan prioritizes talent and culture, research and innovation, education and knowledge, health and wellbeing, and resource allocation.

Talent and Culture: The organization’s focus is to attract and retain qualified and talented professionals who foster an environment of innovation, professional development, and interdisciplinary collaboration
Research and Innovation: Another priority aspect within the organization is research to drive innovation and improve patient care.
Education and Knowledge: The healthcare facility is committed to providing high-quality education to future generations of healthcare professionals. The strategic plan outlines educational offerings, develops new teaching methods, and supports faculty development.
Health and Wellbeing: The strategic plan highlights the importance of enhancing the health and well-being of the community. It emphasizes the need for various initiatives for preventive care services, population health management, and community outreach programs.
Resource Stewardship: This healthcare facility plans to utilize resources efficiently to improve financial performance, invest in new technologies, and increase cost-effectiveness (Ohio State Medical Center, n.d.).

NURS FPX 8010 Assessment 2 Strategic Plan Appraisal

These priorities align well with the organization’s mission and vision. For example, the focus on recruiting and retaining a talented workforce addresses the organization’s mission of conducting cutting-edge research. Commitment to high-quality education helps in developing new educational programs, and the importance of the health and well-being of communities permits the delivery of high-quality patient care.

Similarly, the emphasis on research aligns with the mission to improve health through innovation. Furthermore, the organization’s commitment and vision of collaboration are strategically aligned with its characteristics of being the largest and most comprehensive university in the nation. This allows collaboration between researchers, educators, and clinicians from various institutions, leading to discoveries and improved patient care.

Validity of Data and Analytical Strategies

The validity of data and analytical strategies can be examined through the alignment of organizational strategic priorities with the organization’s mission and vision. This strategic plan established by the Ohio State University Wexner Medical Center utilizes a combination of various sources of data from internal performance dashboards (academic programs, financial reports, and healthcare administrative reports), market research, external regulatory measures (data from Centers for Medicare and Medicaid Services), and epidemiological data from public health agencies and research institutions, feedback solicited from the stakeholders (Brewis et al., 2023; Gandrita, 2023). Thus, these sources of information validate the data’s accuracy, ensuring that the analytical strategies are robust and represent critical aspects of a healthcare facility.

The priorities mentioned in the strategic plan are based on several Key Performance Indicators (KPIs) mentioned in the strategic plan, such as metrics on patient care, research outcomes, education effectiveness, community impact, and financial performance. These include patient satisfaction scores and research funds. Moreover, the effectiveness of educational programs is indicated through graduation rates and passing rates of certification and licensure exams. Additionally, community health indicators, such as disease prevalence and vaccination rates, along with financial metrics, such as revenue growth and cost savings, are adequately examined before establishing the strategic plan.

Stakeholder Input

Stakeholders’ input is necessary to develop a strategic plan within an organization. Their input is crucial in healthcare strategic planning to ensure that diverse needs and perspectives are incorporated, improving the relevance and effectiveness of strategies in addressing complex healthcare challenges (Jafari et al., 2021). To understand the stakeholder involvement in strategic planning of the Ohio State University Wexner Medical Center, I interviewed a Healthcare Administrator from the organization. She is one of the executive leaders overseeing administrative operations within the organization.

She is directly in contact with the Board of Directors (BODs). She elaborated that the organization takes input from input from critical stakeholders using various methods, such as regular meetings, progress report analysis, surveys, email communications, and discussions. Firstly, the BODs are involved in shaping strategic priorities. They provide valuable insights based on their diverse expertise and experiences, ensuring that the strategic priorities of the organization are well-informed and aligned with organizational goals.

Additionally, employees across different departments and levels within the organization are engaged through surveys, focus group discussions, and town hall meetings. Their perspectives on the challenges and opportunities help identify intricate areas of improvement to enhance operations, employee engagement, and patient and community satisfaction. Furthermore, patient advocates and community organizations are involved to understand the needs and preferences of the populations we serve. Their input guides the development of strategies focused on enlightening patient experience, addressing health disparities, and fostering community health and well-being (Huebner & Flessa, 2022).

Balanced Scorecard

Domain	Objectives	KPI Measures	Target
Financial	Efficient allocation and use of resources.	Operating margin. Research funding	Increase operating margin by 5% in a year. Boost funding for research by 10% annually.
Customer	Enhance patient satisfaction and community engagement	Patient satisfaction scores Community outreach events	Achieve 90% or higher score. Arrange at least 10% extra community-based events.
Internal Processes	Improve efficiency and effectiveness of healthcare delivery	Average length of stay. Quality of care.	Decrease LOS by 10% in the next three years. Improve care quality by 80%.
Learning and Growth	Invest in talent development and innovation	Employee training hours Research publications	Increase employee training hours by 15% annually At least 2-3 publications per year.

NURS FPX 8010 Assessment 2 Strategic Plan Appraisal

The strategic priorities of the organization are balanced across the four domains of the balanced scorecard. Financial objectives focus on ensuring sustainability and growth, aligning with the organization’s resource stewardship priority. Additionally, objectives in the customer domain emphasize enhancing patient satisfaction and community engagement, reflecting the organization’s commitment to patient-centered care and the health and well-being of the community (Ohio State Medical Center, n.d.). Next, the internal processes objectives aim to improve the efficiency and effectiveness of healthcare delivery, with targets set to reduce the average length of stay and improve adherence to clinical quality.

This aligns with the organization’s mission to deliver high-quality patient care and enhance its reputation within the sector. Lastly, learning and growth objectives prioritize talent development and innovation, with targets set to increase employee training hours and research publications. These objectives align with the organization’s priority of talent and culture, education and knowledge, and research and innovation (Ohio State Medical Center, n.d.). Overall, each domain contributes to the organization’s mission of improving health through research, education, and patient care, demonstrating a balanced approach to the strategic plan.

References

Brewis, C., Dibb, S., & Meadows, M. (2023). Leveraging big data for strategic marketing: A dynamic capabilities model for incumbent firms. Technological Forecasting and Social Change, 190, 122402. https://doi.org/10.1016/j.techfore.2023.122402

Dennis, C. (2019). Strategic planning—A health system operational perspective. Journal of Hospital Management and Health Policy, 3, 32–32. https://doi.org/10.21037/jhmhp.2019.10.03

Gandrita, D. M. (2023). Improving strategic planning: The crucial role of enhancing relationships between management levels. Administrative Sciences, 13(10), 211. https://doi.org/10.3390/admsci13100211

Huebner, C., & Flessa, S. (2022). Strategic management in healthcare: A call for long-term and systems-thinking in an uncertain system. International Journal of Environmental Research and Public Health, 19(14), 8617. https://doi.org/10.3390/ijerph19148617