You have just relocated to St.Louis and accepted the position of CHief Administrator for the #1 healthcare facility in terms of beds, budget size and facilities. The board of directors of the facility has asked you to present a strategic management paper based on the changing economics of your area. The board is expected you to address the nine economic and population questions listed below for the next 15 years.
Your paper should address each of the economic issues listed below from two perspectives: how the problem, issue or trend impacts the St. Louis area as well as how the same problem, issue or trend is/will be comparatively impacted on a national level. Substantiate St Louis viewpoints with researched facts about the demographics, psychographics and economics of the StL metro area. References must be no older than ten years.
1. Economic and population issues.
2. Discuss the four basic economic questions within the context of an older population adn demographics profile.
a. WHat combination of non-medical and medical goods and services should be produce in the macro-economy?
b. What particular medical goods and services should be produced in the healtheconomy?
c. What specific health care resources should be used to produce the final medical goods and services?
d. Who should receive the medical goods and services?
3. As the population of the US and St.L grows olderk, how will the level and type of patient services change? Do you see more outpaitent care, more skilled nursing home care, increased hospitalization time, or other services meeting the medical needs of the medical population?
4. As changes occur in health care spending, how will you positively leverage the graying of America to increase the efficiency of your health care organization?
5. How will 3rd party reimbursements change? Do you see more private insurance, more public insurance, or increases in nationalized healthcare?
6. Do financial incentives and managment incentives have a place in the management of your faiclity in the future?
7. How will price elasticity and non-economic factors impact the demand for health careservices?
8. Whata changes do you anticipate in Medicaid, Medicare, private insurance funding, and charity care? How will you steer your health facility to capitalize on these changes?
9. WHat strategies would you propose for profit maximization? Discuss three of them.
