Q Assignment on Business of HealthCare for functioning in domains such as finance,human resources,performance improvement Home, - Business of HealthCare Business of HealthCare Contemporary health care organizations do function with equal significance to each of the domains of the health care organizations Viz., Finance, human resources, performance improvement as well as technology. An efficient and integrated performance of each of these domains is significant for the success of the health care organization in general. The competitive advantage and professional competency and efficiency of the organization will be decided only by effective functionality of all these domains collectively (Ginter et al. 018). The following part of the write-up will discuss the significance of each of these functional domains with reference to a practical organization scenario. The write-up presents with general description of the major domains of the health organization and this will follow with discussion regarding the competitive advantage of the organization. The measures that organization need to take up for improving the competitive advantage and the reflection on the competitive advantage of the organization selected and how it is significant etc is discussed in the organization. Overview of the health care organizational functional domains: The most commonly observed organizational structure of Health care organizations in general is Functional organizational structure. Finance, Human resources and Technology management are some of the several functional domains that do play a significant role in value addition to the services offered by the health care organization and they also play a significant role in providing the overall increase in satisfaction of the customers (patients). Finance department of the organization do play a central role in budgeting as well as to do the costing of the care and services in the organization. An efficient financing department will play a major role in proper budgeting for the organization; as well will also work for effective pricing of the unmanaged care practices. These aspects will work for the betterment of the overall cost competitiveness of the organization. Further the human resources management function of the organization will decide the effectivity of the human resources in the organization in all the domains. The qualifications, expertise and the final performance of the organization will depend surely on the overall quality of the human resources department in the organization. Technology division do play an indispensible role in today’s health care organizations. The quality of technology applications in the organization, the quality of the overall services and the health care in the organizations will depend on the extent of technology usage. Further technology enabled opportunities which not existing before, like tele-medicine, data analytics, block chain based information sharing across different locations etc. Technology is playing a critical role right from routine disease illness diagnosis to the cutting edge revolutions in the health care operational domains at present. Competitive advantage and Justification: Ø With reference to my present community health care organization, where I am working, I can say that there is definite competitive advantage existing and it is mainly due to the performance of combination of each of these operational domains. For example the human resources function of the organization has very systematic policy and procedures, which are well designed to contribute to the overall quality of the organization. There is well defined recruitment, succession and performance management plans in the organization. Also the wages and incentive systems are connected with the rewards based on customer feedback and overall performance, which is quite rewarding and making the employees perform their best to render best in class services to the patients. Patients often used to say, that the quality of service that they used to get from our organization is better than any other organization in the region. Also the health care organization has excellent technology integration management division. The traditional employee record management system in the organization is changed over to Electronic health record management system and this has contributed to the drastic reduction in the patient wait time for registration and appointment setting, reduced the possible errors and also facilitated patients to access their medical records from anywhere in the world. These factors added to the overall competitive advantage to the organization. The dedicated finance functional team in the organization have their front end offices too, where in the patient can avail the necessary advice and suggestions regarding their insurance and billing plans in general. The insurance policies availed by the patients will be guided to be most efficient as per their needs. Automated billing and claim management divisions in the organization also contributed to effective management of the health care organization. Ø The overall turn in of the patients to the current organization is higher than any other organization in the region with similar health treatment facilities. There is reputation for the organization as possessing the best in class health care resources (both human and equipment based). Considering all these factors it is said that the organization has all the necessary competitive advantage. Based on the outcomes being obtained, it can be said as definite positive competitive advantage. Areas requiring further competitive advantage: There are several areas in the organization still requiring competitive advantage. For example there are few sections in the organization like radiology, scanning, technology still need more resources to become competitive. There are few organizations in the country and the state with latest state of art technologies in this domain and they are perfectly contributing to the overall efficiency and effectiveness of the health care organizational outreach. The current organization need to equip with resources in these sectors as well, apart from its main stream functional domains to become competent in its overall functionality. Further our current organization is not using information analytics (Wang et al., 2018) and other information technology capabilities to the best advantage of the patient as well as the organization. There are few opportunities like employing tele-medicine through health portals and mobile apps, working for the data analytics and trends investigation based on the Electronic health data(Barrette,2017) etc. These facilities will work for the betterment of the overall competitive advantage of the organization further. Since competitive advantage is highly dynamic and varies from location to location in accordance to prevailing external conditions. A comprehensive integration of all the above changes in the organization will be mandatory to enable better competitive advantage. Further it needs to be monitored continuously for areas of continuous growth and improvement (Arbab Kash et al.,2014). Possible action plan for improving the competitive advantage: If i am the in charge for the current organization and if I do possess the decision powers to decide the strategic direction and the action plan for the organization. There are several ways and means I can work for the betterment of the organizational performance. At the outset I will use two way investigation procedures to find the needs and the areas requiring organizational development. The first is to do investigation over the customer feedback and the satisfaction survey to find the domains where they really need further improvement of the services. Typical consideration to the sub activities like the waiting time for the transit. Guidance in availing the claims, services in particular health care division are some of the several domains which I will be considering for improvement of the organization’s competitive advantage. Further benchmarking the quality of the services, resources, quality of usage of the available resources in the organization are some of the other factors that I will be considering for improving the competitive advantage of the organization. The activities and the plan for improving the competitive advantage will contain these major steps. ü Identify the domains and lapses by multi-dimensional investigation approach. ü Arranging the findings in the order of priority (based on the impact) and estimating the fundamental corrections and the budget plans required to modify the same. ü Finding an action plan to upgrade the current operational levels to meet the expectations. Sufficient detailing will be prepared regarding the time needs, resources requirements and the measure of accomplishment of the required change. ü To get the approval for the change and enable the change implementation procedures in the organization. Approval will be obtained by apex management teams and the enforcement of the changes will be done in accordance with the strategic plan prepared and by employing action teams. ü To implement the changes and expedite the results by devising custom KPIs(Key performance indicators) ü The findings from KPI observations will provide insight into the organizational operational trend and will provide further changes any if required in the organization strategic change plans or the competitive advantage initiatives(Macfarlane,2018). ü Further actions will be followed up for outcomes. Conclusion Patient satisfaction and the quality of health care are highly related with the cost of the cares. Most of the managed cares are now falling under the umbrella of the medicare and Medicaid provisions and hence within the fixed budget, the quality of the health care does depend on the service dedication and quality management. Further the unmanaged care and the costing of the same is also now under intense pressure from the peer competition and hence any measure taken in the organization in the direction of improving the cost economics will contribute to the betterment of the organisational overall cost effectiveness and patient satisfaction which are building blocks for competitive advantage.