Introduction
This paper provides comprehensive information pertaining to various issues that affects operations in laboratory institutions with particular reference to California laboratory and health center. In particular, it discusses the institutions physician affiliation model, the trend of its financial performance, its strategic capital needs and its current service mix.
Challenges that affects integration of physician affiliation models
Indeed, there are various challenges that affect holistic integration of appropriate physician affiliation model that holds the capacity of transforming operations in various lab centers (Zismer & Thompson, 2012). The challenges that require adoption of conventional approaches to ensure that their effects are mitigated, have been affecting holistic integration of conventional medical practices in California lab center that adopts traditional medical affiliation model.
Financial performance trend of California laboratory center
Indeed, California laboratory center has been recording positive performance since its inception. Its profitability index has been increasing yearly due to its effective management. In particular, the institutions physician department recorded an increase of 2% in its profitability in the year 2012. The increase is attributable to the effective management of its cash inflows and outflows by its managers. This is evident since the management emphasizes on effective utilization of resources. Other factors that contribute to its high profitability include provision of quality services that enables it to attract more clients hence benefit from economies of scale, adoption of effective monetary policies and safeguards.
The organization has also developed a viable strategy of cost management that will ensure that its performance trend continuous to increase in the years to come. Its effective financial management strategies give its stakeholders immense hope of achieving best returns and services from the institution (Zismer & Thompson, 2012). In particular, the institution plans to purchase new and modern medical equipments to boost service delivery. Similarly, it seeks to venture into other investment portfolios such as physical assets and stocks to expand its capital base.
The organizations capital needs, possible options for investing and raising of capital
Capital needs are long term and short term financial obligations that an institution plans to accomplish to aid the quality of service delivery (Zismer, 2011). Notably, any company that seeks to record exemplary performance should establish their capital needs appropriately. This is essential in enabling them to plan on how to meet the needs without complications. As noted, California laboratory center that was set with a core mission to provide quality health services in all its departments including physician department has clear needs that include.
- Purchase new equipments such as electronic health record system
- Hiring of more specialists on physician matters
- The institution also needs to recruit new providers among others
The hospital is keen in meeting these needs since they are significant in ensuring that patients get quality services. It has made proper plans of ensuring that it raises adequate capital to facilitate the actualization of the needs. Key methods that the hospital seeks to use in raising the needed capital include long-term borrowings, leasing, sale of products and listing in stock market.
The organizations market and current service mix
Currently, California laboratory center has effective market and service mix that enables it to reach out to more clients. The organization has a well designed marketing plan and service mix that enables it to have the right provider competence. Its effective marketing of the services that it offers at the physician department has contributed in its success (Zismer, 2011). The marketing plan has enabled it to expand its customer base and build a high profile among its clients. It has also enabled the organization to understand consumer’s needs and then provide them with quality services that are tailor-made to satisfy their needs. Evidently, the institutions market and service mix does not require any radical changes presently. Its service mix can only be changed when environmental changes that normally affect business operations are experienced.
The right size and specialty mix within the organization
Notably, institutions need to operate under a manageable scope of operation with the right number of personnel and specialty mix. This is to enable them operate within their financial and structural ability to ensure that services are not compromised (Zismer, 2011).
The role and function of the embedded medical group
Embedded medical groups are important groups in medical institutions since they play critical roles in ensuring delivery of quality services (Zismer, 2011). Their roles cannot be ignored in any setting that aspires to record quality performance especially in the physician sector. This is evident since they help in transforming operations in institutions through innovation and creativity. They also help in employing superior therapeutically techniques and clinical services to patients. This helps in enabling institutions to expand their market share and quality of administration.
References
Zismer, D & Thompson, J. (2012). The Gundersen Health System 15 Years in the Making: A Retrospective on a Path to Success. Web.
Zismer, D. (2011). The Psychology of Organizational Structure in Integrated Health Systems. Web.