Exam (elaborations) RDP_Task_1.docx

Introduction As an organization it is important that we grow to improve patient outcomes by providing an all-encompassing standard of care. Our hospital has recently acquired a multi-specialty practice that will add to our already high level of healthcare delivery. As with any growth, there will be obstacles and adaptation that require a strong strategy and implementation plan to achieve the highest comfortability for all our key stakeholders. Key Stakeholders-A1 There are several key stakeholders that will be impacted with this opportunity of growth. One is the physician owners whom previously led this practice. The physician owners will impacted by the importance of operational decisions being shared with our hospital leadership. This potentially could lead to creative differences that will ultimately lead to a better-rounded standard of care of all our patients. There is the potential for irreconcilable differences that could potentially lead to the loss of some physicians. It is important that we remain cognizant and understanding of these differences to minimize this loss. Another impact will be increased patient visits. In order to provide better post-admission care for our patients, the practice will take on more follow up cases. This will ultimately lead to higher patient satisfaction. The increased patient load could potentially lead to increased hours of operation that will require longer work hours from these physicians. In order to create a seamless experience for our patients, we will need to align our vision and patient focused strategy with the acquired practice. The physician owners whom had previously been accustomed to a more hierarchical decision structure could potentially not agree with the hospital’s vision. With the acquisition, there will be increased opportunity for the physician owners to collaborate with our hospital physicians to discover the ACQUISITION MANAGEMENT AND STRATEGY 3 best method of treatment for all patients. This opportunity also opens a platform for increased learning and continued education. Another key stakeholder group is our hospital leadership. The management team will need to adjust current policies and procedures to accommodate this new positional hierarchy structure. In order to create an easier transition, management will be required to be available to new staff and physicians when needs arise. This could mean being on call after hours and temporarily taking on more job roles to fill in gaps. This will create career opportunities for new leadership roles and promotions within our organization. Hospital leadership will be encouraged to remain compassionate and understanding under all situational differences. Clinical staff of this practice will also be impacted among this acquisition. Clinical staff will have more opportunity for overtime as well as opportunity for cross-training. Staff will also need to adapt to new policies and procedures as well align the practice with the hospital current practices. This will be a learning process that will require the staff to increase their learning curve in order to take in new responsibilities. In order to help accommodate the increased patient visits in the practice, there will be new hire employees that will need to be trained and acclimated into the practice. Current staff will be required to train these new staff. This will also create and opportunity for training positions with increased wages. Our current hospital vendors will be impacted with this acquisition as well. In order to standardize our supply and medication orders, research for best solutions for both the hospital and practice will be conducted. This could lead to the dissolution of current contracts with supply and pharmacy vendors. This will include medication supply as the practice will now utilize the hospital’s internal pharmacy for orders. This will save the organization money as well as streamlining medication inventory. This will also increase demand from some our vendors. With