ipl-logo

External Analysis: Effective Decision Making

444 Words2 Pages

Many lessons can be learned from the external analysis! First, the most important take away is that you must know your own business, and know it well. Knowing the details of your business allows for pointed questions to be asked that will guide research in the appropriate direction. It will not serve me well to ask and research the wrong questions. Effective decision making is the distinguishing factor that determines success, and decisions that are based on research rather than intuition have a higher probability of accomplishment (Nassar, 2007). Addressing the needs in our market allows our organization to create offerings that are economical, preventative, and responsible. We will only know these needs if we ask the right questions. …show more content…

Sound research also improves the chances of a decision being successfully executed (Nassar, 2007). We live in an age of information overload, and fortunately, have access to this information quick and easy. Relying on reputable resources for information, collecting useful data in our market and spending the time to review this information personally and with experts in our field are crucial to understanding how to apply the information. For example, I receive a journal monthly from AMPRA—The American Medical Rehabilitation Providers Association. AMPRA is dedicated solely to the interests of Inpatient Rehabilitation Hospitals and Units with a focus on advocacy in the field of medical rehabilitation and support the needs of persons with disabilities. This journal is highly regarded in our industry to provide knowledge to successfully navigate challenges and adapt to the ever changing regulatory environment in our hospitals. Journals such as AMPRA provide information that complements our organizational systems. HealthSouth has multiple online resources and employ highly educated and seasoned professionals that are able to discuss and assist in decision making. Our organization also has cutting edge technology with data readily available with a couple of computer key strokes. Finally, the third lesson is being able to successfully make a decision from the data, research, and guidance from the experts in the field. Confidence is required to move forward with a decision and take action. Information gathered does nothing but sit on a desk unless a leader is able to take the initiative to implement a plan. When knowledge is combined with action, it becomes power (Nassar,

Show More
Related

  • Hrm 531 Week 8 Capstone Simulation

    561 Words  | 3 Pages

    If we had been able to play one or even two additional rounds; our strategy would have been to increase the automation of our products to lower their costs and increase our contribution margin. This would have put us on a more comparable path of the computer teams. To stay on track with our previous decision, we would have introduced additional products either in the high-end markets to continue our strategized shift. The trick would have been repositioning the products as they moved to different segments.

    Read More

  • CMS Regulations And Reimbursement Models Paper

    746 Words  | 3 Pages

    Impact of CMS Regulations and Reimbursement Models The Health Care Industry HCM307-1802B-03 Unit 1- Individual Project 1 Michael Green May 22, 2018 Introduction Healing Hands Hospital is preparing financially for the many different reimbursement changes associated with Medicare Advantage Plans. My financial team and I, have been asked to evaluate our current billing and operations workflow processes and incorporate the current trends. We will be discussing how Medicare Advantage affects Healing Hands Hospital, and how we can utilize these trends to maximize patient care. Organizational Budget Reimbursement and financial trends will change go hand and hand.

    Read More

  • HIPAA Compliance Report

    320 Words  | 2 Pages

    The purpose of the HIPAA transactions and code set standards is to simplify the processes and decrease the costs associated with payment for health care services. The transactions and code set standards apply to patient-identifiable health information transmitted electronically. Physician practices will continue to be able to submit paper claims. When the regulations take effect in October 2002, standard formats and code sets will take the place of any payer-specific or location-specific formats or requirements. ICD-9-CM Volume 1 and 2: Diagnosis Coding - ICD-9-CM is used to code and classify morbidity data from the inpatient and outpatient records, physician offices, and most National Center for Health Statistics (NCHS) surveys.

    Read More

  • Brooke Army Medical Center Mission Statement

    2982 Words  | 12 Pages

    By consistently prioritizing evidence-based decision making, maintaining ethical integrity, empowering employees, and embracing technological advancements, BAMC continues to provide exceptional healthcare services to our military community. Moving forward, it is imperative for the medical center to adapt to new challenges, further enhance employee empowerment, and leverage emerging technologies to continuously improve its mission accomplishment

    Read More

  • Art Rooney And Joined The National Football Team

    1643 Words  | 7 Pages

    After doing research for this assignment, it helped me to understand that, first various teams and organizations run and do things differently from one another. It showed the variety of positions and the responsibilities that each one holds. It gave me a more defined insight of the corporate structure of the

    Read More

  • Maus Vladek Quotes

    798 Words  | 4 Pages

    To exemplify this lesson, I might be looking to invest in stocks, and I see a stock that seems like its price has been increasing for the past few days. However, I look at the long term history of the stock, and realize that the stock is at the end of a spike, and is about to go down. Because of my research, I decide not to buy the stock, and I prevent myself from losing money on the stock. Sometimes, even though the solution to a problem might seem obvious and assured, it is important to consider all the information we have available to us before making a decision, as it can prevent us from making bad

    Read More

  • Evidence Based Practice Model

    677 Words  | 3 Pages

    The theory of evidence based practice is not only an approach that targets for quality of patients but also highly improves the level of accountability in the health care sector by promoting a life-time learning process. Evidence based practice addresses the compulsory need for quality research evidence and quality practice all in struggle to support the care of a patient. Below is a brief description of the five models of evidence based practice(“ LibGuides at Oregon Health & Science University,” n.d.). Ask: Get some information about the consideration of people, groups, or populaces. Acquire: Secure the best accessible proof with respect to the inquiry.

    Read More

  • Pros And Cons Of Evidence Based Practice Approach

    117 Words  | 1 Pages

    When implementing best healthcare practices within a healthcare setting an evidence based practice approach is used. With this method we are not looking to develop new ideas we are looking for ways to improve existing practice. This is done by using the best evidence to improve patient care. The best evidence is achieved through research from various sources. These sources include: the latest scientific knowledge, best clinical practices, clinical judgement, and critical thinking.

    Read More

  • Assassination In Sarajevo: Archduke Franz Ferdinand

    1178 Words  | 5 Pages

    A lesson that can be learned is that the choices of just a few people can have great effects on society or the world. One person can make a big difference. Look before you leap and think carefully before you make a decision because your actions may cause harmful

    Read More

  • Evidence-Based Practice In The Workplace

    460 Words  | 2 Pages

    For this week’s discussion post I will identify a situation where evidence-based practice has been applied in my workplace. Evidence-based guidelines are put in place and into practice after research has been completed. This helps with intertwining practice and research and are established by professional organizations, government agencies, institutions, or expert panels (LoBiondo-Wood & Haber, 2014). These clinical guidelines give clinicians findings to help in the decision making process of diseases or treatments. In developing evidence-based practice, a clinical question must first be put into place.

    Read More

  • Explain How Macbeth Relates To Modern Society

    726 Words  | 3 Pages

    The lesson being taught is to not trying and use unethical means to get things done, and to get things done with intending to hurt the people around

    Read More

  • Essay On Value Proposition

    1041 Words  | 5 Pages

    Although difficult to do, writing a compelling value proposition is a vital part of marketing a brand. Until leaders can state why their brand has value, how can they influence customer behavior with targeted marketing? One of the basic purposes of a value proposition is to determine the benefits their brand has for consumers. Another key aspect of a value proposition is linking the brand benefits to specific features of the brand. Leaders need to take the time to view their brand from the perspective of their targeted customer.

    Read More

  • Loreal Pestel Analysis

    1016 Words  | 5 Pages

    It would aim at establishing a strong customer lifetime value. It would also search for new markets in other

    Read More

  • Personal Reflection On Leadership

    1465 Words  | 6 Pages

    In fact, leadership is an art rather than a science. The process of learning leadership is a hand-on experience, which focuses on practice instead of concepts itself. This course provides me a chance to gain more insight about leadership and it helps me develop my new image of leadership. Meanwhile, I also use the theories in our textbook as a framework for self-assessment of my leadership skills and try to develop my own leadership style during the

    Read More

  • The Importance Of Professional Judgement

    835 Words  | 4 Pages

    It is a fact that when taking decision individuals are guided by their own values and beliefs. Taking decisions that are right and correct demand that the teachers engage in deep reflection and keep in line ethical standards. Knowledge: Knowledge is necessary to inform professional judgment in practice. Teachers should engage in dialogue, reflection and collaboration to develop, and enhance their knowledge.

    Read More

More about External Analysis: Effective Decision Making

Open Document