Strategic Implementation Plan for Bristol Hospice Healthcare Centre – Budget Timeline Organizational Impact and Environmental Adaptation Over the First Five Years

Strategic Implementation Plan for Bristol Hospice Healthcare Centre – Budget Timeline Organizational Impact and Environmental Adaptation Over the First Five Years

Bristol Hospice Healthcare Centre is raising its earnings and budget by establishing effective and successful plans for adopting telehealth. Before initiating any project, the staffing, capital, and material budget are critical. The earnings from adopting telehealth at Bristol Hospice are projected to be high. The execution plan with the timeline is crucial to go through the stages taken to accomplish the telehealth project. The objectives and goals of the project assist in establishing the timeline. The budget comprises costs of materials, capital, and staffing. In addition, the budget gives the projected earnings. Do you need help with your assignment ? Get in touch with us at eminencepapers.com.

Budget for the Expected Costs and Earnings

The projected cost for materials, capital, and staff is shared and is subject to vary in the initial five years. The materials required for telehealth are expensive. Thus, we set an adequate budget for the hospital’s materials. In addition, the staff salaries are higher to encourage them to work harder. Bristol Hospice spends on marketing and advertising, and the cost varies annually. The hospital aims to attract more investors to join and initiate partnerships. The expected utilities and bills budget for the five years is high.

The organization’s projected revenue in the initial five years of the project has been prepared. The earnings are more than the cost, and the hospital will profit by adopting the telehealth project. The hospital will spend the cost of providing all the facilities and services to the patients without compromising the services, and in return, it hopes to make more profit. The projected earnings rise yearly over the five years.

The projected capital cost for the project is $ 100,000. The hospital’s reserves will cater for one-half of the above price, and the hospital will plan for a bank loan to budget the other half. Thus, Bristol Hospice will take a loan of $ 50,000 dollars to be paid in five years with an interest rate of 8%. The hospital is expected to pay $ 54,000 per year. According to the budget, the telehealth project will generate a cash surplus during the initial five years. The surplus increases yearly due to the projected increase in the number of patients over time. The total forecasted surplus over the five years is estimated to be $1 070 00.

Implementation Plan

The initial step in executing any plan is to establish a timeline to roll out the proposed project. It is assumed that it will take two and a half months to approve the project and the bank to approve the loan. The hospital has established a timeline for completing the project on time. The proposed implementation plan enables the success of the services in an ethical and culturally equitable manner (Pollard, Karimi, & Ficcaglia, 2017). Subsequently, the timeline will play a vital role in ensuring the project is implemented in good time. The hospital will partner with the relevant stakeholders to ensure the initiative is implemented successfully. The support of the stakeholders is critical since it ensures the initiative is completed on time and economically stable.

Additionally, the hospital will ensure that the rollout is conducted ethically and culturally equitably to increase awareness among people and attract more potential investors. Rather than forcing stakeholders to invest in the program, the hospital will ethically explain its project to potential investors. If they like the idea, they will invest in the telehealth adoption program (Pollard, Karimi, & Ficcaglia, 2017). Furthermore, the hospital will ensure the staff has access to the best training to serve the patients ethically.

Going further, the hospital will strive to sustain the organization’s influential culture. The above will ensure that the patients obtain the best services and further attract more investors for the telehealth project (Mars & Scott, 2017). To increase awareness of the program to people, the hospital has set apart an adequate budget for marketing and advertising. Accordingly, the advertisements and marketing strategies will ethically explain the services being provided and the benefits of adopting the telehealth project.

The hospital will ensure that the quality of the desired services is on track by referring to the timeline and completing it at the scheduled time. The implementation plan will be issued to the management, employees, stakeholders, and the control department to ensure everyone plays their part in the set time (Davis et al., 2021). Without a doubt, the hospital will achieve the desired quality after completing the implementation plan. The hospital services will improve during the implementation, but the desired quality will be achieved after finally completing the execution according to the timeline using the necessary resources.

Proposed Plan Analysis

Implementing the proposed plan may impact the organization’s aspects negatively or positively. The hospital’s resources will be used in the execution, thus obtaining more resources to benefit the patients by providing them with better healthcare services. The staff training will positively impact the proposed implementation plan since the employees are trained to enhance the level of their performance and work towards achieving the best final results.

The other hospital aspects will be affected since increased employee workload will increase, and more resources will be used. The hospital will have to bring in more materials and raise the staff’s salaries to work overtime (Davis et al., 2021). Consequently, Bristol Hospice needs investors to invest more in the telehealth project to increase the revenue from obtaining materials and spending on bills. Besides, the staff has to be trained to ensure they perform well and yield the best results. Better communication aspects in the community can be affected and increased by the above implementation plan.

Moreover, the negative results can be reduced by increasing the resources and materials and offering the employees good salaries. In addition, the hospital should be ready to spend more on its services to entice more investors (Anderson & Singh, 2021). More hospital equipment will be included. Besides, the organization needs to invest more in marketing and advertisement to raise people’s awareness of the telehealth program.

Proposed Plan Strategies

Economic opportunities are significantly crucial to the growth and expansion of a business. Consequently, the hospital has adopted a strategy for business expansion to render the initiative a worthy asset to the hospital. The forces of the dynamic environment erode a business’s value, and the organization must maintain a competitive advantage and remain relevant in business markets. Thus, a business expansion strategy is crucial since it will assist the hospital in sustaining a competitive advantage by attracting numerous customers and offering customized healthcare services to new customers. Conversely, a functional business management strategy is key to ensuring the viability of the business initiative.

The environmental risks linked with the business initiative include waste materials from the hospital, which are a potential environmental threat. An increased number of environmental regulations regarding the amount of carbon dioxide emissions can be an environmental threat to the business since hospital waste is regarded as one of the primary water pollution sources (Puspitasari et al., 2021). However, the above can be managed through an effective recycling and waste management policy, which details particular rules to decompose or recycle the hospital waste properly. If the environment changes unexpectedly, the initiative will remain advantageous for the hospital based on the consultation services and recyclable materials.

The healthcare initiative enables community development by offering readily available and cost-effective healthcare services. Moreover, the relevance of the healthcare initiative is considerably high, based on its social effects on community development and healthcare and wellness promotion (Anderson & Singh, 2021). Consequently, the chief strategy is to ensure the extensive viability and relevance of the health initiative through community development and show the social aspects of the services offered to increase the general public’s well-being. Thus, the hospital will employ the business expansion technique to make the project a viable benefit.

Relevance of Quantitative and Qualitative Evidence

The plan discussed above uses scholarly sources, financial information, and data to evaluate the several determinants of a proposed initiative. The program specifically focuses on budgeting, expenses, and execution of strategies to see to effective planning and projecting for better forecasting. Additionally, the above business case evidence is linked to strategic and financial management in organizations. These aspects are critical to the business case since the economic opportunity needs to be regarded as a business plan (Puspitasari et al., 2021). The functional execution of the plan above is dependent on several aspects of business management, such as administrative, financial, and marketing management.

As a result, the evidence is relevant to the business initiative. Similarly, the relevance of the evidence is high regarding hospitals since the evidence further considers the health sector as its primary research perspective and researches to evaluate the long-run effects of strategic management in healthcare organizations. Conversely, the evidence offers instances of various business plans that have remained successful in the past (Mars & Scott, 2017). Besides, the evidence highlights the advantages and solutions of the project by assessing its long-term effects on the business and community. Hence, the evidence offered for the above business case meets the underlying requirements.

References

Anderson, J., & Singh, J. (2021, June). A Case Study of Using Telehealth in a Rural Healthcare Facility to Expand Services and Protect the Health and Safety of Patients and Staff. In Healthcare (Vol. 9, No. 6, p. 736). Multidisciplinary Digital Publishing Institute.

Davis, J., Gordon, R., Hammond, A., Perkins, R., Flanagan, F., Rabinowitz, E., …& Sawicki, G. S. (2021). Rapid implementation of telehealth services in a pediatric pulmonary clinic during COVID-19. Pediatrics, 148(1).

Mars, M., & Scott, R. E. (2017). Being spontaneous: The future of telehealth implementation?. Telemedicine and e-Health, 23(9), 766-772.

Pollard, J. S., Karimi, K. A., & Ficcaglia, M. B. (2017). Ethical considerations in the design and implementation of a telehealth service delivery model. Behavior Analysis: Research and Practice, 17(4), 298.

Puspitasari, A. J., Heredia Jr, D., Gentry, M., Sawchuk, C., Theobald, B., Moore, W., & Schak, K. (2021). Rapid adoption and implementation of telehealth group psychotherapy during COVID 19: practical strategies and recommendations. Cognitive and Behavioral Practice, 28(4), 492-506.

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

Develop a 6-7-page implementation plan for the initiative you proposed in Assessment 1. Include a budget for material, staffing, and capital costs over the initiative’s first five years, as well as projected earnings. In addition, include a timeline, an organizational impact analysis, and an explanation of the effects of environmental changes on the initiative.

Strategic Implementation Plan for Bristol Hospice Healthcare Centre – Budget Timeline Organizational Impact and Environmental Adaptation Over the First Five Years

Instructions

Develop a thorough implementation plan for the economic initiative you proposed in Assessment 1. Your plan must include a budget for material, staffing, and capital costs over the initiative’s first five years, as well as projected earnings. In addition, include:

A plan and timeline for rolling out the initiative.
An analysis of how the initiative may impact other aspects of the organization or care setting.
An explanation of how the initiative can remain viable in the face of environmental changes.
Sufficient, relevant, and credible supporting evidence.