The completion of a SWOT analysis of Aetna revealed that the company has several strength that will help usher the company into their next phase. Aetna has a strong position in the US healthcare market and has great control over the company’s benefits and expenses and as a resulting in improved profitability. The company also has a wide and deep product portfolio and is attracting larger clients. Another advantage of Aetna is that their cost and quality focus with investments in health care technology. Although the company has several strengths it also has its weaknesses, such as low contribution of large case pension segments and overdependence on the US market.
Revenue will grow and costs will decline as a result of more efficient processes. iii. The relationship would allow GE healthcare ready access to vital pharmaceutical firms. These resulting relationships are important because GE sought to develop new drugs to treat diseases using more personalized medicine. iv.
How can CQI lead to an enhanced HSO/HS competitive position? The healthcare industry has changed over the years in terms of placing more focus on quality. In the past, more focus was put on reducing input cost instead of enhancing the quality of output. It was shortly found out that this was just a solution for short term fixes and did not have a positive long term outcome. One theory that has gained wide acceptance in the industry is continuous quality improvement (CQI).
Throughout the world, hospitals have taken the advantage of the availability of innovative products to provide better care services to the patients. The cost for health services has increased within the past century. Hospitals across the country have faced increased costs in health care services. A notable cause is the emergence and widespread diffusion of innovative medical technology. Payment shortfalls from Medicare, Medicaid, and uncompensated care add increasing pressure on hospital finances.
The importance of IS comes in escalating benefits (see Figure 1: Escalating Benefits of IT). First, STARS would reduce costs by automating its manual processes across all departments. Second, it would leverage investments by improving administration and finance effectiveness. Third, it would enhance patient recovery and other services by improving outward-looking. For example, better communication yields better recovering services.
To improve this experience could lead to a positive improvement from a lot of work related practices, for example safety, efficiency, quality, staff vitality and financial strength. Listen and pay attention to your customers, at the end of the day they pay your bills. Their comments and points of view on their experiences can highlight the urgency for a change, it can also engage the hearts of staff, and their output can be a very valuable asset to any strategy to improve patient and family experience. Why are HCAHPS important? You are in the people business and because of this, People represent a big intangible asset for your organization that could improve or decline the value of your everyday practices.
Some feel that higher educated nurses are vital to meeting the demands of our ever changing healthcare needs. “A well-educated, highly-skilled, and diverse nurse workforce is critical to meeting future healthcare needs.” (Department of Health and Human Services [DHHS], 2011). Scientific studies have been conducted to support this parallel. Research shows that healthcare institutions with higher percentages of baccalaureate-prepared nurses benefit with better patient outcomes in addition to significantly lower mortality rates (American Association of Colleges of Nursing [AACN], 2012). This research resulted in the healthcare industry taking great strides to increase the number of baccalaureate-prepared nurses.
Proposed Healthcare Policy The most important healthcare policies in the world is an increase in life expectancy by people. People are living longer and healthier for several reasons. One reason is that technology has made medicine better and improved the quality of medical care people receive. One improved quality of medical care is the advancements that medical machines such as MRI, x-rays, and others have made to diagnose patients quicker that helps to treat them better. People used to have to wait several days or weeks to get results which are available now in a few minutes.
1. What are the drivers of the RFID project? The drivers off the RFID project were to increase productivity, reduce cost which allows Boeing to process more efficient. Also by taking on the RFID project, it allows Boeing to better compete within the industry. They’re able to monitor and track the productivity within the supply chain allowing them to increase productivity in the sectors they feel necessary which leads them to processing more efficiently and effectively; which in results brings in more revenue to the company allowing them compete by investing more money not within the company but also within the future technology for the company.
This is because the proportion of income spent for the poorer is higher so the redistribution of income will increase consumption and therefore increase aggregate demand. This will lead to an injection into the economy since those of much lower income will see an increase, which will increase their spending. They will be able to afford access to crucial resources, such as education and medical care. This may lead to the amount of quality of productive resources available to a country to increase. A better education and health care will improve the labors’ output, as productivity will be higher.