Strategic Plan and Technology Analysis for ABC Healthcare

This report provides a comprehensive analysis of the strategic plan for ABC Healthcare, focusing on the impact of virtual and augmented reality within the industry. It delves into the importance of strategic planning, technology analysis, and the alignment of business models and value propositions in the current healthcare landscape. The report explores various aspects, including SWOT and PEST analyses, the role of VR and AR in improving patient care and administrative systems, and the application of technology to address challenges like patient safety and data management. Furthermore, it examines the evolution of ABC Healthcare's business model, emphasizing value-based pricing and patient-centric solutions. The report also highlights the use of technology to drive innovative solutions and improve service delivery, concluding with an overview of healthcare models and the barriers to their implementation. References to relevant literature are included.

Assignment 2 -strategic Plans

TABLE OF CONTENTS
PROJECT B.....................................................................................................................................1
INTRODUCTION...........................................................................................................................1
Strategy Plan ..........................................................................................................................1
Technology analysis...............................................................................................................2
Alignment of business model and value proposition.............................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

PROJECT B
INTRODUCTION
The aim of the study is to focus on strategic planning process and in explaining the
impact of virtualism and augmented reality on the ABC health industry. The project will focus
on technology analysis.
Strategy Plan
11 In today's Era the healthcare industry have to face may challenges in terms of
technology, government policies, finance, and customer satisfaction. It is becoming
important for healthcare company to develop organisational strategic plan. Strategical
thinking, modelling has become crucial activity for an ABC Healthcare company to
survive in competition with other healthcare institutions.11 Strategic plan provide the way to examine the position of the company, and
provides direction for achieving goals and objectives of firm. It assists in various decision
making process, the decisions may relate to finance, capital, technology, staff etc.
(Moseley III, 2017)11 SWOT analysis, Pest analysis are few business analyses techniques which can be
used in strategic formulation process. Strategic plans are formulated by considering the
organisation future. Every important plans have to deal with three question what to do?
How to do? And for whom to do?11 7 steps used for strategical planning include-11 Formulate Mission and Vision.11 Examine operational and business activities.11 Develop and select strategic options.11 Specify the objective of strategy.11 Prepare plan for strategic execution.
111 Introducing Appropriate budget and allocate resources.
111 Review Performance.
Virtual Reality and Augmented Reality in ABC healthcare industry
Now Nowadays virtual reality and augmented reality is taking place in healthcare
industry. Augmented realness can be used to improve services of health care sector. 3D
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visualisations techniques can be used by surgeon to examine organs of patient from different
angles.
On the other hand virtual reality can be beneficial for patient those who are suffering
from various phobias or fears such as fear from darkness. By keeping them in virtual
environment medical professional can help them in minimizing their phobia and fear.
Augmented and virtual reality has changed the healthcare system of ABC Company. It
has helped in improving the accessibility of information for both patients and professional. This
supports in making people aware with the benefit of healthy life Augmented and virtual reality
has helped in improving administrative system in medical field.
Technology analysis
The ABC healthcare institution is under pressure for the improvement of their patient's
safety, increase their efficiency, processing of information on regular basis, protection to the
privacy of patient data, controlling of various costs and other concerns related to the industry. By
the use technology it will help them to overcome various concerns and by the adoption of
technology it can help in reducing the medical errors and can provide aids to the preventive from
various other diseases' ad their progressive management. Technology can be used for keeping
and the maintenance of various records and data, along with the assignment in improved patient
safety, increasing efficiency in operational activities, improved communication system, quick
laboratory results and other Some information technology tools can also be used to meet the
demand of customer in the healthcare industry.
More realistic technology and applications should be adopted by ABC company, which
will assist them to deal with their current problems and work progressively with more efficient
and effective manner. Such as surgical assessment, medical models development, minimally
invasive surgery etc. 3D simulation can be used by doctors, nurses while performing surgery,
during diagnosis it can use for the phobia treatment. From the augmented and virtual reality is
expected to grow from $1.2 bn to around $2.54 bn on 2020 in global market.(Zhang Y. Qiu M.
2017)
Alignment of business model and value proposition
In present era ABC healthcare institution has facing the financial crisis, but still they have
transformed various activities in order to improve healthcare system. By switching to
reimbursement model instead of paying for products and services the overall outcome can be
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advanced. In other words the company has adopted simple strategy that they have presented their
services in terms of value of outcome of products and services. The firm is providing better
health outcome through effective exchange of resources. Companies believe that medication and
intervention must be provided to right person at right time.
The most important thing is that the value based price negotiation has created a lack of
trust for patient. The pharmaceutical company has always focused towards keeping high margin
by using diverse ways that also provide better patient safety and health.(Cacho-Elizondo
Alvarez et.all 2017)
The ABC Company has to adopt the medical technology to develop user friendly and
affordable solution related to setting the price of product and services. Controlling over cost of
new technology is also critical aspect. To increase worth of their products and services the focus
must be on increasing the value of their healthcare system. Also, the company must require
changes in their processes and they have to collect effective evidence of quality in terms of their
products and services.(Knight Blessner and Blackburn 2017.)
The example of innovative way to deal with value challenge.
Capturing value with Centric Solution-is the innovative way to deal with value challenge.
ABC Company is using patient centric solution as business alternative model for delivering
effective services in terms of healthcare. The ABC Company aims at increasing quality
healthcare services to their patient and eliminating costly treatment in hospitals. In this respect,
by offering treatment and early diagnosis of ill patient is key concern of organisation.
The patient centric solution programme aims to decrease the cost of treatment with
increase in quality of services. It allows ensuring that patient get reimbursement by health
insurance company (Kruse Frederick Jacobson and Monticone 2017).
Technology can be used to drive the innovative solution in terms of service improvement.
Such as remote monitoring technique can be used for treatment process development. It can also
be used for understanding and analysing various diseases in respect to determining symptoms.
Besides this ABC company is providing telemedicine services to its patient (ose Jiang and
Mangematin 2017)
Providing health solution is great idea but it’s not an innovative idea. However, the
innovative idea lies in the Dot -com Boom but it requires viable value propositions for effective
health care system. There are many other pharmacy companies those who are offering number of
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products and services in the same sector. ABC Company focused to adopting various technology
in order to offer wide range of services and products to its customer according to their needs.
Company is working to provide value based services. The aim of this strategy is to attract new
customer by providing variety of quality services and products to all customer in terms of
healthcare. Also, they focus on lower class to upper middle class society for better development t
of health system.
The solution examined span at all stages of the patient pathway. The value proposition
for customer is fulfilled by the development in process. It’s being said that prevention is the best
medicine and its better than cure. But commercial reality is that it is poorly demonstrated in
public sector.
CONCLUSION
The study has provided the learning about various steps of framing effective strategic
plans. The virtual reality and improved part of research has concluded that technology and
planning values have positive effect ABC Company. Both the elements has helped the company
in increasing its efficiency so that quality of its products and services can also be advanced.
Technology analysis has provided the path and suggested various technological
application to company in order to overcome issues. Classification of issues can be as patient
safety, system application, information flow etc.
The various business model is being suggested to company in order to increase valuation
of products and services. Along with this, innovative way to deal with service improvement has
also been discussed. It has been also explained that technology can be used to drive innovative
solution and better improvement.
It has been concluded that there are various health care models which are being analysed
with aims at delivering heath care services. The patient centric solution is being used by
company is to overcome various barriers. These barriers can be categorise into two internal
barriers such as pharmaceutical and technology use for medical purpose. Other than this,
obstacles include financial barriers, insufficiency in operational activities, obstacles in
communication, medical error etc. are also major aspects to be consider. Whereas external
barriers includes heath marketplace, competition with other healthcare industries.
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REFERENCES
Cacho-Elizondo S. Álvarez J.D.L. and Garcia V.E. 2017. Assessing the Opportunities for Virtual,
Augmented, and Diminished Reality in the Healthcare Sector. In The Digitization of
Healthcare (pp. 323-344). Palgrave Macmillan London.
Knight A.K. Blessner P. Olson B.A. and Blackburn T.D. 2017. Strategic sourcing and corporate
social responsibility: Aligning a healthcare organization's strategic objectives. Journal of
Purchasing and Supply Management 23(2)pp.94-104.
Kruse C.S. Frederick B. Jacobson T. and Monticone D.K. 2017. Cybersecurity in healthcare: A
systematic review of modern threats and trends. Technology and Health Care 25(1). pp.1-
10.
Moseley III G.B. 2017. Managing Health Care Business Strategy. Jones & Bartlett Learning.
Rose J. Jiang Y. and Mangematin V. 2017. Technological innovation mediated by business
model innovation: app developers moving into health. International Journal of Technology
Management 75(1-4). pp.6-27.
Zhang Y. Qiu M. sai C.W. Hassan, M.M. and Alamri A. 2017. Health-CPS: Healthcare cyber-
physical system assisted by cloud and big data. IEEE Systems Journal 11(1) pp.88-95.
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