Healthcare Management Report: Short-Term and Long-Term Analysis

This report presents a comprehensive analysis of a healthcare management proposal for the Venice Family Clinic, focusing on the financial implications and strategic planning involved. It examines the short-term and long-term impacts of proposed upgrades in communication and transportation services, as well as improvements to medical equipment. The analysis includes a detailed breakdown of capital budgets, operational expenses, and revenue projections, highlighting the expected cost-benefit ratio and strategic alignment of the proposed initiatives. The report evaluates the potential for increased patient satisfaction, goodwill referrals, and overall brand image, while also addressing potential conflicts and areas for improvement, such as the need for a balanced approach between service-oriented strategies and marketing efforts. The findings emphasize the importance of strategic planning in optimizing the financial performance and patient experience at the clinic.

Running head: HEALTHCARE MANAGEMENT
HEALTHCARE MANAGEMENT
Name of Student
Name of University
Author note

1HEALTHCARE MANAGEMENT
a. Short Term Impact
The capital budget comes at a total of $32,100 and the total operational expenses is
$39,208,190. The overall revenue earned in the current year is $47,573, 854. The expected
figures are $54, 952,547. As shown in the revenue calculations, patient visits and
immunization services fetched the highest amount of revenues of all. The proposal requests
an up-gradation in communication, transportation services in order to serve the patients or
clients better. In addition the proposal requests an up gradation in quality equipment for
Venice family clinic and all these aforementioned strategies has been proposed in the
financial expenditure to meet the revenue expectations. As the planning and strategizing,
focus on a high quality customer service – this can definitely have a profitable impact on the
healthcare venture (Vogus & McClelland 2016). Better servicing of clients and hassle free
clinic treatment will surely increase patient satisfaction and it would elevate the levels of
good-will referrals (Topitzes et al., 2019) and the brand image as in whole which would
certainly have a profitable effect on the financial figures of Venice family clinic’s business,
in the initial months itself.
b. Long-Term Impact:
While the financial budget proposal focusses just on communication and patient servicing
areas (which is certainly a positive side) – the overall and long term impact might have a
different picture altogether. Other than medical equipment and transportations – there are
many other factors that imparts to the long term impact of the proposed financial planning
(Lum, Sudore & Bekelman, 2015). While in a short term, the revenues are expected to
increase but in the long run, if the marketing services, the inflow of patients will decrease and
just the servicing costs will impact the entire revenue.

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c. Cost-Benefit:
The capital budget comes at a total of $32,100 and the total operational expenses is
$39,208,190. The overall revenue earned in the current year is $47,573, 854. The expected
figures are $54, 952,547. The cost benefit ratio approximates to 1.21 % (capital budget
adjusted) in the current scenario. As per the expected figures shown in the budget, the cost
benefit is expected to increase further (in relation with the expected profit of $14,035,447 as
shown in the budget for the next year).to 1.34%. The betterment of equipment and patient
transportation services will increase the patient satisfaction and the clinic will receive more
patient in the same way and improve the cost benefit ratio (Sanders et al., 2016).
d. Strategic Planning
In the gross revenue section all the service revenues are expected to increase in the next
year and an extra component of revenue from the transportation has been added as well.
While the salary structure remain the same like previous year, the chauffer’s salary has been
added which slightly increases the expenses. Owing to the medical equipment up-gradation,
the expense increases as well. While the other expenses slightly in the new budget, ‘Power
and fuel for the transportation Vehicle’ expense’ is added as well that increases the expense
as well. The strategic planning focusses on specific parts of equipment and patient servicing
as well. The proposal instead of upgrading all the equipment at once, should focus on
marketing aspects as well with the same planned budget.
e. Conflicts
There is just one conflict that the strategies are more focused on servicing rather than on
marketing.

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References
Lum, H. D., Sudore, R. L., & Bekelman, D. B. (2015). Advance care planning in the
elderly. Medical Clinics, 99(2), 391-403.
Sanders, G. D., Neumann, P. J., Basu, A., Brock, D. W., Feeny, D., Krahn, M., ... &
Salomon, J. A. (2016). Recommendations for conduct, methodological practices, and
reporting of cost-effectiveness analyses: second panel on cost-effectiveness in health
and medicine. Jama, 316(10), 1093-1103.
Topitzes, J., Mersky, J. P., Mueller, D. J., Bacalso, E., & Williams, C. (2019). Implementing
Trauma Screening, Brief Intervention, and Referral to Treatment (T‐SBIRT) within
Employment Services: A Feasibility Trial. American Journal of Community
Psychology.
Vogus, T. J., & McClelland, L. E. (2016). When the customer is the patient: Lessons from
healthcare research on patient satisfaction and service quality ratings. Human
Resource Management Review, 26(1), 37-49.