Resources and Risks in Mayo Clinic

This document discusses the resources available in Mayo Clinic, including human resources, material resources, technologies, and financial resources. It also analyzes the PESTLE factors affecting Mayo Clinic and provides a plan for hospital management. The document further explores the risks in Mayo Clinic, such as patient handling risks, healthcare infections, and cyber risks. It discusses the monitoring of these risks and the legal considerations for hospitals. Additionally, it highlights the initiatives of Simon Laurence Stevens, the evaluation of these initiatives, and the leadership approach used. Finally, it provides an overview of the National Health Service, business risks in the healthcare industry, and the use of financial statements and budgets in healthcare organizations.

ASSESSMENT

TABLE OF CONTENTS
PART 1............................................................................................................................................1
Resources available with the Mayo Clinic ..................................................................................1
Resource Analysis .......................................................................................................................1
PESTLE Analysis of Mayo Clinic ..............................................................................................1
Plan for Hospital Management ...................................................................................................2
Approach for introducing strategy ..............................................................................................2
Team Culture and Behaviours ....................................................................................................2
Smart Objective ..........................................................................................................................3
PART 2 ...........................................................................................................................................3
Risks: ...........................................................................................................................................3
Risks in Mayo Clinic ..................................................................................................................3
Monitoring of Risks.....................................................................................................................3
Legal consideration for hospitals.................................................................................................3
Healthcare technology ................................................................................................................4
Reporting of risks.........................................................................................................................4
PART 3 ...........................................................................................................................................5
Simon Laurence Stevens .............................................................................................................5
Initiatives of Simon Stevens........................................................................................................5
Evaluation of initiatives. .............................................................................................................5
Transactional Leadership.............................................................................................................5
Leadership approach used............................................................................................................6
Leadership styles in healthcare organisation ..............................................................................6
PART 4............................................................................................................................................6
National Health Service...............................................................................................................6
List of business risks to the healthcare industry: -.......................................................................6
Financial Statements and its use .................................................................................................7
Analysis of financial statement ...................................................................................................7
Budget in health care organization..............................................................................................7
Use of budget and allocation of resources...................................................................................7

Use of money by hospital............................................................................................................7
REFERENCES................................................................................................................................8

PART 1
Resources available with the Mayo Clinic
Mayo Clinic is global leader in the medical care. It has large variety of resources which includes
Human Resources: Doctors, superior health professionals, counsellors, nursing staff and
therapists.
Material Resources: Furnitures, machines, clinic buildings, offices, technologies and other
Technologies: Medical testing equipments allergens, drug testing, pathology, endocrinology and
other diseases with advanced technical machines such as ECG, MRI etc.
Know how: Advance team of medical professionals, technical machine operators and medical
practitioners have deep knowledge of respective field (Szuber and et.al., 2019).
Financial Resources: In financial assistance care is provided through Medicaid, Medicare and
insurance plans.
Resource Analysis
It could be assessed that resources of Clinic are sufficient to treat different types of diseases also
it has established COVID-19 testing equipments. Allocation of resources is well planned and
clearly defined based on requirements of different areas.
PESTLE Analysis of Mayo Clinic
Political - Size of government budgets for medical sector is shrinking. Civil societies could
influence policy making and to build narrative. Regulatory practices have streamlined with the
global norms. Local government influence policy making and implementation.
Economic – Inflation is not high and Federal reserve policy has caused liquidity flooding across
financial markets and Clinic borrow at cheap rates. Employment rate has increased which will
create demand for products.
Social – People have lower saving tendency which impacts consumption of Mayo products. The
hierarchy of society affects consumption (van Harten and et.al., 2018). Attitude towards health
and safety is positive and they make investment for health products and take regular check - ups.
Technological – High investment in technical development. It has IPR for highly specialised
professionals. It conducts research for identifying different diseases. It uses advanced
machineries in clinic for tests and research
Legal – It has to comply with data protection laws, employment laws, health and safety, business
laws and to comply with medical legislations.
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Environment – Maintaining healthy environment, recycle policies, waste management and
influence of environmental agencies has to be considered (Richter and et.al., 2018).
Plan for Hospital Management
Mission: To inspire people and to contribute to well being of people providing best care to the
patients through integrated education, clinical practice and research.
Objective: To provide best health services to every individual
Strategy
 Training of the hospital staff
 Use of innovative technology
 Effective communication channel
Implementation
 Hiring professional experts to provide the management training to staff.
 Proper practice and follow of training tasks and performance
 Technology will be implemented identifying requirements over 5 years.
 Advanced machineries will be purchased for testing and treating patients.
 Direct communication channels will be established between management & staff.
Control: The chief manager will monitor the whole process and use measurement standards to
identify the progress and areas of improvement.
Approach for introducing strategy
Mayo Clinic will use Top-down strategy for the introducing the plan as this will be
executed by top management and complied by lower staff
(Ma and et.al., 2018). This management task that requires professional knowledge and
experience in management therefore will be better introduced by experienced professionals.
There is higher deployment in early stages and also early return on the investment. Power rests
with higher executives only.
Team Culture and Behaviours
Mayo Clinic follows a collaborative work culture and task culture in the organisation.
Team culture is highly supportive and works together for achieving the objectives successfully.
The task culture will help in effective implementation of plan as. Task culture allows to put full
efforts with team support to achieve the objective. Actions will include training, benchmarking
guidance, communication training, monitoring and controlling.
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Smart Objective
To increase the patients base to 25% in coming five years.
PART 2
Risks:
It is chance that an action or activity could harm or could happen. Medical institutes are full of
risks and uncertainties. Example: risk related to technical use, unsafe living conditions,
unhygienic environment, issues related, Medicare condition, medical patient's privacy.
There could be number of risks in hospital but proper handling of these risks is essential for the
hospital for safety of all patients and staff working (Imhof and et.al.,2018). Major risks include
cyber attacks, healthcare infections, telemedicine, violent incidents, regulations, corporate
governance and standards.
Risks in Mayo Clinic
Type of Risks Sources Vulnerable parties
Patient handling risks supporting, lifting & moving the
patients
Both patients and
management.
Healthcare Infections Unhealthy conditions, lack of proper
sanitisation
Patients, staff and management
Cyber Risk Cyber attacks and hacking Patients and management
Monitoring of Risks
These risks will be monitored by managers ensuring that there is proper established system for
handling risks. Patient handling tools like wheelchairs, trolleys and beds should be proper and
working. It must ensure that working environment should be safe and proper sanitisation is done
of places and equipments. Cyber security systems should be in place to protect the data and
information of patients(Zhang and et.al., 2020). Cyber attacks are increasing which needs to be
monitored by managers. Staff needs to report all these risks should managers so that it could take
take actions for complying with this. Managers will then report it to executives for actions.
Legal consideration for hospitals
The manager has to ensure compliance with following legislations in hospital
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Health & Safety 2002: It ensures that all the patients are provided safe and secure environment.
Health & Social work profession order, 2001: Order provides for compliance with professional
guidelines for social work and medical health.
Human rights: There should be no violation of human rights in hospital. Patients have right to
information about disease and right to get proper treatment.
Care Act 2014: Managers monitors that every patient is given proper care and treatment without
any discrimination on any grounds.
Non compliance with these legal laws will cause hospital and person responsible to face
penalties and penal provisions. It could lead to imprisonment of officers and person breaching
act. Also in serious cases non compliance of the mandatory regulations by hospitals could lead to
their seizure and cancellation of licence.
Healthcare technology
Mayo clinic is using high advanced healthcare machineries for diagnosis and tests of patients. It
uses centralised management software for managing the processes. Proper alarm and care system
is established in hospital for safety of patients (Veziant and et.al.,2020). There is fire
extinguishers, fire control showers etc. The safety software provides about timely renewal of
equipments and reminders for checks. Safety officer looks after all security and safety in hospital
of patients and staff in hospital. It ensures that all equipments are working and in good condition.
Regular inspections are done for safety and security of patients.
Reporting of risks
Patient handling risks: The patient handling risks will be filled by nursing staff and make
collections and then handle it to safety department. Safety manager will analyse the forms and
report the requirements to top management.
Healthcare Infections: It would be assessed by the safety staff and health inspectors to collect
the form and manager will make the analysis about the information gathered from form. Safety
manager is responsible to report the issues and changes required (Imhof and et.al.,2018).
Cyber Risks: The forms about cyber security will be collected by IT staff regarding the existing
software in use and its competency with requirement of Clinic. The IT manager will collect the
forms and analyse the areas that requirements and what resources are required and forward the
report to management.
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PART 3
Story of Boss
Simon Laurence Stevens
Sir Simon is British health manager and also public policy analyst. Simon was appointed as 8th
Chief Executive of National Health Service from April 1, 2014 in England succeeding David
Nicholson. Health Service Journal 2013 declared him as 2nd most powerful person in English
NHS. He has been graduated from Oxford University, received MBA from University of
Strathclyde. Started working from 1988 as healthcare manager in UK. Therefore huge experience
in the field.
Initiatives of Simon Stevens
Reducing treatment taking care: It was adopted to fasten the treatment process and provide
special care. It made staff to pay special attention to patients which had positive impact on the
organisation.
Transformation of physical healthcare: The old process for physical healthcare were not
effective and not providing required results (Zhang and et.al., 2020). It helped the organisation to
gain increased trust of people and positive impact on organisation.
Transformation of mental healthcare: The initiative was taken to handle patients with mental
health problems. New diagnosis equipments and methods were adopted. New therapies provided
considerable relief to people and had positive impact on organisation.
Evaluation of initiatives.
It could be said that initiatives taken by Simon has improved the process significantly. NHS is
considered to be more organised and well managed by patients. They are getting proper care and
attention for improving the performance. Patients now rely over the care and treatment provided.
It has also provided for mental health issues to which people are most vulnerable nowadays.
Transactional Leadership
Leadership focus on role of the supervision, organisation and the group performance. The leaders
implementing this style focus over specific tasks and make use of rewards for motivating the
employees (Veziant and et.al.,2020). Simon could use transactional leadership and to organise all
the processes and to provide departments with specific tasks and targets to be completed in
healthcare and based on results they will be rewarded.
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Leadership approach used
Simon has used transformational leadership in implementing the three initiatives.
Transformational leadership aims at identifying the areas of change and forming goals and vision
for executing the actions for change with all. It inspires people to understand the need for change
and how it will benefit the organisation.
Leadership styles in healthcare organisation
There are different leadership styles such as situational, transformational and transactional
leadership. Simon used transformational leadership for initiatives and it is successful style based
on nature of organisation (Prihartono and Asandimitra, 2018). Use of transactional leadership
involves just passing orders and tasks to be performed where transformational leadership
involves collective efforts of staff to achieve the goals of organisation. If I was to introduce the
initiatives then also transformational leadership would have been used.
PART 4
National Health Service
National Health Service (NHS) is a publicly funded health care system present in UK. It is
established under the government administration for providing free of cost healthcare services to
the inhabitants of the country.
Vision: To strive to provide the best healthcare services across the nation to those who need it.
Mission: To maintain the consistency and intactness in the quality of the services that are being
provided and build a healthy and prosperous society.
Values: The major qualities that are associated with its staff are excellence, integrity and care.
The follow the values of mutual respect and teamwork.
Business risk is the exposure of the company to the probability or possibility of an upcoming
commercial loss. It leads to decrease in the profitability and growth prospects of the company.
List of business risks to the healthcare industry: -
 Regulatory changes
 Change in the existing technology and equipment’s
 Meeting the expectations
 Risk of cyber threats
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Financial Statements and its use
The financial statements of an organization represent its financial position, cash flow position
and the profitability of the business. It is for the internal and external users of the information to
use it in decision-making process and allocation of resources. The management of the company
is responsible for preparing the financial statements.
Analysis of financial statement
The financial statements of NHS shows that financial performance and position of company is
good. The income statement or statement of income and expenses is not clearly provided. The
elements of balance sheet are assets, liabilities and shareholder's equity. It could be reviewed
from the financial statement that it has positive profits (Yap, Komalasari and Hadiansah, 2018).
Also the financial liabilities are very limited and within controllable levels therefore it is
profitable.
Budget in health care organization
A budget in a health care organization is used to develop understanding of the funds that are to
be spent in specific project or area. It helps in assessing the appropriate allocation of resources.
The major budgets that are prepared in the healthcare industry are cash, capital, statistics and
operating.
Use of budget and allocation of resources
The budget refers to statement that is used for allocation of the resources between different
departments and processes. It helps the business in making effective utilisation of the resources.
The budget of NHS is used to allocate the funds over different events and healthcare processes to
continue its processes. Every activity has been allocated resources based on proper analysis. This
shows that management of the organisation is highly efficient and making optimum utilisation of
the resources (Prihartono and Asandimitra, 2018). It could be further managed by proper
monitoring and control over the different expenditures.
Use of money by hospital
The money that the healthcare institutions have can be used by the management to provide
financial incentives to its employees like bonus, share in the profits, allowances, perquisites and
the retirement benefits.
Also, such benefit can be extended towards the patients by providing them free health care
check-ups, free treatments, medicines etc.
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REFERENCES
Books and Journals
Szuber, N., and et.al., 2019, April. 3023 mayo clinic patients with myeloproliferative neoplasms:
risk-stratified comparison of survival and outcomes data among disease subgroups.
In Mayo Clinic Proceedings (Vol. 94, No. 4, pp. 599-610). Elsevier.
van Harten, A.C., and et.al., 2018. Subjective cognitive decline and risk of MCI: the Mayo Clinic
Study of Aging. Neurology, 91(4), pp.e300-e312.
Richter, M.D., and et.al., 2018. Brief report: cancer immunotherapy in patients with preexisting
rheumatic disease: the Mayo Clinic experience. Arthritis & Rheumatology, 70(3), pp.356-
360.
Ma, B.B., and et.al., 2018. Antitumor activity of nivolumab in recurrent and metastatic
nasopharyngeal carcinoma: an international, multicenter study of the mayo clinic phase 2
consortium (NCI-9742). Journal of Clinical Oncology, 36(14), p.1412.
Imhof, R.L., and et.al.,2018, November. Frontal fibrosing alopecia in women: the Mayo Clinic
experience with 148 patients, 1992-2016. In Mayo Clinic Proceedings (Vol. 93, No. 11,
pp. 1581-1588). Elsevier.
Zhang, Z., and et.al., 2020. Protecting healthcare personnel from 2019-nCoV infection risks:
lessons and suggestions. Frontiers of medicine, 14(2), pp.229-231.
Veziant, J., and et.al.,2020. Risks of viral contamination in healthcare professionals during
laparoscopy in the Covid-19 pandemic. Journal of visceral surgery, 157(3), pp.S59-S62.
Prihartono, M.R.D. and Asandimitra, N., 2018. Analysis factors influencing financial
management behaviour. International Journal of Academic Research in Business and
Social Sciences, 8(8), pp.308-326.
Yap, R.J.C., Komalasari, F. and Hadiansah, I., 2018. The effect of financial literacy and attitude
on financial management behavior and satisfaction. BISNIS & BIROKRASI: Jurnal Ilmu
Administrasi dan Organisasi, 23(3).
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