Assignment Topic It is 2021. You are the COO of a community hospital that has be
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It is 2021. You are the COO of a community hospital that has been hit hard by the pandemic. The first surge caused a drop in outpatient revenue of 30% resulting in a $40 million dollar loss in fiscal year 2020. Your CFO is projecting a $20 million dollar loss for the current fiscal year of 2021 due to the second surge.
Your team has been working very hard on recovery but they, and their resources, are exhausted. You have multiple vacancies due to retirements and family care issues. You are still deploying what staff you can to vaccination centers. Inpatient volume has been overwhelming but length of stay has been up 20% due to the acuity of the patients. Outpatients are reluctant to come back for elective procedures because they have not been vaccinated. They are afraid of contracting CovID 19 in the hospital.
Your goal is to get back to break even for the year. Based on what you have read about driving results, creativity and adaptability, how would you begin to develop your plan? Who needs to be engaged? What are the critical issues to be resolved? Due 12/19
I. Problem Identification. Summarize the problem and the impact to the organization.
Here are some examples of areas of impact:
Losses have all but halted any capital spending
Although the Covid positive staff number have reduced, many staff still have child and elder care issues and cannot work.
Many patients have deferred care for long periods and are now suffering from the lack of care.
The number of uninsured patients has risen significantly due to unemployment
Some patients are reluctant to come to the hospital for fear of getting sick
II. Problem-based research. In this section, students share their research findings to begin to define an evidence based approach to the problem. At a minimum, each student should identify 3 external (library or Internet) sources that support the process of finding solutions to your problem (beyond the course readings assignments).
III. Solution Plan. Drawing from your research, develop a step-by-step action plan for addressing the problem. What are the key components of the solution? What key individuals need to have input in the plan? Who is responsible for execution of the plan?
Some examples of steps could be:
Formal leadership retreat to assess current programs and develop goals
Review of historical volumes by MD and by patient address
P&L review of all programs to assess viability in the new normal
Review of work policies, I.E. work from home, job share opportunities, per-deim and part time percentages, pay and incentive plans.
Engaging local Boards of Health
IV. Measurement Plan. Explain how you would measure and evaluate the effectiveness of your solution. The Measurement Plan must include an associated timeline.
Measurements could include:
Monitor financial performance
Monitoring patient volumes in key areas targeted
Monitor quality outcomes
This is a professional presentation. The final presentation will include a list of references in APA format.
Length and Formatting
The paper should be double-spaced, 12-font Times-Roman, one-inch margins, page count does not include reference list, 5-7 pages, and 3 to 5 references. Please use APA style citation and references per the Purdue Owl Guidelines (Links to an external site.) (Links to an external site.). Attach Word document files only, not PDFs. Please refer to the Grading Rubric Download Grading Rubricfor details on how this activity will be graded and incorporate these guidelines in your assignment.