Strategic Management Accounting Report
Added on - 21 Apr 2020
Strategic Management Accounting
IntroductionThe present report aims to present an analysis of the strategic management functionsof the Regis Healthcare Limited. The Regis Healthcare Limited is recognized to be the largestASX listed Residential Aged Care (RACs) having a market share of about 2.5%. Thecompany aims to become an innovative, dynamic and creative industry leader throughproviding high quality aged services through effective management (Regis HealthcareLimited, 2017). In this context, this report analyses the strategic management of the RegisHealthcare Limited in detail on the perspective of a Strategic Management Accountants(SMA).Value Chain of Regis Healthcare Limited through the Use Of Strategic ManagementToolsRegis Healthcare Limited operates in healthcare industry and as such the term ‘value’for the company indicates its speed, quality, cost and availability of healthcare services. Thevalue chain of the company can be enhanced through the application of strategic managementtools of value chain analysis. The value chain analysis (VCA) refers to the method adoptedby a firm to identify its primary and secondary activities that helps in developing the valuableproducts and services for the customers. The goal of this strategic management tool is tosegregate the most valuable activities within the firm such as operations, logistics, marketingform the support activities that are, infrastructure, technology and others. The value chain ofthe healthcare company will consist of activities similar to that of other industries such asmanufacturers, wholesalers, distributors, providers, professionals (nurses, midwives) andpayers (heath consumers). These all can be stated to be the primary activities of thehealthcare company that plays a vital role for it to achieve competitive advantage in themarketplace (Ginter, 2013). The value chain of Regis Healthcare Limited can be depicted asfollows:
Source:http://groundwork.mit.edu/cdvc/Examination and Implementation of techniques for Developing, Implementing andMonitoring StrategiesThe techniques for developing, implementing and monitoring healthcare strategiescan be described as follows:Developing Strategies: The techniques for developing healthcare strategies areexamining the medical history of patients that helps in identification of the healthcareservices to be provided to the patients. This is followed by carrying out the specifictests for proper identification of the healthcare problem and then developing ahealthcare strategy for the treatment of a specific problem.Implementation: The implementation can be done by performing the treatmentprocedures for the patients such as counselling of patients or providing them specifictype of medical help as required by the patients.Monitoring: The monitoring strategies include reviewing the condition of the patientson a continuous basis in order to examine the impact of treatment procedures on thepatients. This helps in modifying the treatment procedures as per the patient’scondition (Swayne et al., 2012).