PART 1
Throughout this course, you will analyze the Case Study: East Chestnut Regional Health System (ECRHS).
Review the Case Study document.
Assume East Chestnut Regional Health upper management has asked you to analyze its current marketing strategies from both ethical and financial perspectives.
Use the Case Study Review Guide as a tool to help you complete your analysis.
Create a 1,050-word Financial and Ethical Impact Analysis for ECRHS’s current health care marketing strategy for upper management, based on the above factors.
Include a summary of each section in your analysis:
Mission and objectives
Organizational structure and culture
Current marketing strategies
Current financial analysis
Competitive advantage
Current value chain
Current target market
External environmental factors
Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).
PART 2A
Think of the health care industry in general and of the organization where you work. If you don’t currently work in health care, choose a health care organization in your community.
Write a 175- to 250-word response to the following:
· Is there a relationship between ethics and financial performance in the health care industry?
· What challenges might a relationship between ethics and financial performance play in terms of health care marketing strategy development?
· How do these challenges impact your organization?
Part 2B
Respond to two classmates.
R1
Compliance is sometimes considered as a hardship for firms that must obey a plethora of rules and regulations, as well as face audits and government scrutiny. However, in the broadest and greatest meaning, healthcare compliance and ethics simply advocate patient rights and offer quality care and treatment free of commercial interference. Organizations that promote an ethical culture profit in a variety of ways. They can recruit and keep quality individuals who value working for a company that lives according to its mission statement. These firms also become more efficient when compliance programs audit, review, and update rules and processes on a regular basis. Healthcare is possibly the most regulated business in the United States. Outstanding healthcare executives, on the other hand, know that compliance and ethics are not only a legal obligation, but also a crucial component of organizational strength and excellent patient care and safety. Since the Civil War, when profiteers gouged the Union with false and exaggerated rates for products provided for the war effort, fraud and waste have been a concern in federal government operations. As a result, President Abraham Lincoln signed the False Claims Act into law. This statute, along with a slew of others, has been used to prosecute and reclaim billions from criminals.
R2
· Is there a relationship between ethics and financial performance in the health care industry?
Ethics in healthcare is a set of moral principles, beliefs and values that guide in making choices about medical care. Basically, the capability to distinguish between right and wrong as well as the belief about rights being process and duties owe to others. Whereas Financial performance in healthcare is related with enhanced patient reported experience of care. Therefore, there is a relationship between ethics and financial performance, because the financially stable healthcare facility/hospitals are better able to maintain highly reliable systems as well as provide ongoing resources for quality improvement.
· What challenges might a relationship between ethics and financial performance play in terms of health care marketing strategy development?
Healthcare centers that are under financial burden may strive to sustain quality and patient safety and have worse patient outcomes relative to well-resourced hospitals.
· How do these challenges impact your organization?
These challenges will decrease the organization’s ability to access capital and raise the costs of borrowing, further hindering the organization if there is a record of financial loss. Ethical issues can have a severe impact on the quality of care the patients receives. When ethical conflicts arise, patient care inevitably suffers.
