NHS FPX 5010 Assessment 4 Attempt 2 Strategic Plan Objectives and Balanced Scorecard

Opportunities: Patients can compare the services offered by their firm to those of other health coverage providers in the region. They will also see the company’s culture, principles, and commitment to sustainability via the staff’s friendliness. This incentive is essential for Health Net to regain its competitive edge reputation. To keep ahead of rivals in the industry, businesses must know that marketing is the key to being vital and relevant. Advertising and marketing are instrumental approaches used to increase service awareness and aid in recruiting new patients (Sudbury Riley & Hunter Jones, 2021). It is also possible for it to come in the form of educational flyers, the website of the firm, social media, and third-party scheduling via Tele Health, all of which will save time for the patients as well as the staff as compared to the old ways of scheduling patients there. The health net has always prioritized patient safety, notably during worldwide pandemics such as the COVID outbreak.

Threats: Strategic planning and analysis are examples of factors that have contributed to Healthnet’s status as one of the industry’s leading providers for many years. The strategist frequently must choose the absence of facts demonstrating that one solution is better than another. In addition, this will be seen as something that will assist strategic managers in making more inventive decisions and help organize the data. This may be done so that its consequences are better shown, so judgment and opinion are more informed. Many local individuals’ health insurance coverages have altered in recent years. Several health insurance policies either pay for fifty percent of the services that are performed or refuse to authorize medical treatment for a variety of reasons it may also. This may significantly impact the company’s insurance billing and result in a decline or loss of income. Insufficient personnel is another contributing issue. The firm has had a high employee turnover rate, which might lead to overwork for the remaining workers. This may also be shown by a rise in the frequency of paperwork mistakes and unfinished tasks, which may lead to a decline in the number of patients, a lack of customer service, a decline in revenue, and, ultimately, a reputation loss among rivals.

Weaknesses
The firm was manifestly deficient in some areas, the first being its inability to schedule patients in a timely way. Given that so many workers have been missing from the firm due to the pandemic, the remaining workforce has been forced to take up a great deal of extra work. This implies that critical everyday chores are not being accomplished. Putting patients on wait for a lengthy amount of time will encourage them to schedule appointments with rivals who can satisfy their demands in a more timely way. Since the organization has faced labor shortages, complaints about paperwork mistakes in the current workforce have increased. This is prompting the remaining staff to make mistakes such as incomplete paperwork and uploaded records without patient signatures on the forms, which are accessible to numerous doctors through EMR systems.

GAP ANALYSIS
Organization quantity
Team deficiency
Global period
Competition difficulty
Business volume is considered as an issue for Health net, were they expect revenue of $4 Billion, but the current annual revenue is only $ 1.8 Billion. Company has to plan a strategic method to improve the turnover to the expected revenue (Castro, 2022). Increase area of services, smart advertisement like online marketing, and staff incentives are the fewer suggestions to improve the business volume. Staff shortage is considered as the second issue, presently Health Net has 5724 Employees with a -2% grew in their employee count by last year (Zhang, 2021). This could be taken as serious mater, and improvement in the staff strength and quality should be confirmed. Currently the estimated revenue per employee of Health Net’s is $314,600. It has to be improved by providing proper learning system to upgrade employee skills. Being a Pandemic season, all the organization were faced several issues to manage the staff shortage and coverage values. This can be overruled by proving individual attention to the customers by technical advancement and providing easy accessibility such as Telimedicine. Competitor challenge may be managed by Staff strengthening, customer care efficiency building and by implementing technical advancement in field work.