NHS FPX 8010 Assessment 3 Strategic Plan Development
Department Strategic Priorities
The leadership team at Life Care Center was established a few months ago and are new to the team. The organization has struggled with employee retention and have come up with the same understanding that nursing staff is important not only for their organization but growth. The goal to give their patients the best quality care and cost effective, the leadership team has worked on a strategic plan and developed a balanced score card (see Figure A1). Staregic plans are great because they help the leadership team develop a guide for the future growth and vision of the company. The motivation for all is the key to restart the momentum for success in the company. Enhanced strategic plans and developments are great traits in giving the best quality of care to patients (Lal, 2020).
The four categories in Life Care Center’s strategic plan are financials, wellness, patients and people. When looking at the first domain which is finance, the goal is to increase the financial status so that it goes along with the goals of the company while developing and implanting different levels of care to support the generation of their revenue. When jumping to the second domain, the wellness is a top priority because we want to focus on the quality measures and levels of care along with patient satisfaction rates which is also a key performance indicator on the balanced score card. Along with this measure, the staff at this organization especially the nursing department is to continue to improve on patient care while boosting peer morale and we want to increase the employee retention rates. Leadership growth will be implemented and the specific details in the key performance indicators for nursing plan will be located in Figure A2.
The impact all this has is important as it becomes priorities as the goal is to enhance the leadership and elevating patient standards. Patient engagement is important because with the implementation of these new strategies that affect the generating revenue. When an organization has great patient outcomes, staff retention and great results, they are powerful and make great financial gains and increase revenue will in returns leads to more admissions and referrals for the company. The priorities that have been identified will be completed in less than 6 months. One issue seen is that the approval for the budget is still pending. The budget presentations and final preparations were done in November and still no conversation of the final approval. With financials still in the air, nursing leadership team will need to figure out creative ways to develop teams to help with initiatives on creating solutions focused on patient centered care specifics. Using the help from executives and medical directors, the process can go smoother and everyone will feel they were part of the success with teamwork (Taylor, 2019).
NHS FPX 8010 Assessment 3 Strategic Plan Development
Effects of Organizational Policies
To ensure that everyone is aiming and working towards the same goals is the foundation to having a successful balanced score card. The balanced score cards ensure the executive team that the goals are all aligned while seeing the collaboration among the team members (Wanga, 2022). Strategic plans help not only balance scorecards but also build structure within an organization and policies. Ensuring everyone is working towards the same goal. Policies are meant to guide staff members but also protects the organization. Yearly revisions of the policies are crucial and involves the executives and stakeholders while ensuring they are getting information that is evidence based. Life Care Center staff members are up to date with policy changes. The objectives, metrics, target dates and initiatives all go inline with the company’s current strategic plans and policies (see Figure A3) but due to the new executive team, there will be barriers and issues along the way until everyone stabilizes in their roles while tackling challenges. Implementation of change is so important to ensure organizational change and acceptance of team members.
Conclusion
Balanced scorecards are tools to help with the strategic planning and implementation of new initiatives and policies in a company. The goal of strategic plans is to better plan and improve an organizations overall performance and act as a roadmap to success. Strategic plans help with information regarding management and development (Dilrajh, 2020). Life care Center has developed balanced score cards in order to provide the best patient care and cost-effective measures that align with their mission and goal and aligns with their organizational strategy plans. These plans can be achieved in less than 6 months but due to the staff members being new to the company, challenges are expected, and they should engage in monthly meeting to review the strategic plans and policies to ensure they are on the correct path as planned while incorporating new ideas, policies which leads to change. In conclusion, applying the strategic plan and score card helps build the relationship among the staff members and meeting the growth of Life Carer Center.
NHS FPX 8010 Assessment 3 Strategic Plan Development
Reference
Dilrajh, A. (2020, May 22). A few advantages of implementing the BSC in your organisation. Vision Activ. Retrieved October 12, 2022, from https://www.visionactiv.com/post/a-fewadvantages-of-implementing-the-bsc-in-your-organisation
Lal, M. Maureen DNP, MSN, RN. Why You Need a Nursing Strategic Plan. JONA: The Journal of Nursing Administration: April 2020 – Volume 50 – Issue 4 – p 183-184 doi: 10.1097/NNA.0000000000000863
Taylor, A. (2019, July 23). How to generate buy-In for your strategic plan. Strategic Planning Consultant. Retrieved October 11, 2022, from https://www.smestrategy.net/blog/5-stepsto-increase-buy-in-with-your-strategic-plan
