Review the “Learning Exercise” in Chapter 10 of Managing Health Care Business Strategy.
As the Learning Exercise states, you are the business manager who has been tasked with researching the financial viability of opening a satellite clinic. Identify which things you should measure to determine if you open the satellite clinic.
Create a slide presentation (15 slides including title and reference slides) that addresses the following:
- Identify 10-15 financial and nonfinancial metrics used to assess the viability of opening a satellite clinic. From this list, select three financial and three nonfinancial metrics that are the most important and explain their significance (net revenue, demographics, customer relations). Where will you find, and how will you gather, the identified metrics you need to develop your assessment? Be sure to identify each metric as external or internal.
- Provide a description for each selected metric (total of six descriptions). Depending on the data provided, how can each metric affect the plans for the new clinic? Assuming the satellite clinic will open, how will you set up a monitoring and adjustment program? List the required steps. Why is a monitoring, evaluating, and adjusting strategy essential to overall organizational success for the new clinic? Provide two possible events that a successful monitoring program could identify and what adjustments could apply.