Unit 7 Capstone Project:
Name of Student:
The contents of this paper are a continuation of the second section of the project. In this section, the review will implore among other areas, the financial management of the Atlantic General Hospital, the quality of services offered by the Hospital, as well as the marketing strategy of the Hospital. The above components have been analyzed to details so as to reveal the nature of the management of the hospital and its position in the market.
As an institution, the hospital has got fluid financial management strategies that are designed to keep the hospital top of the market. Being one of the major hospitals in the vicinity, Atlantic General Hospital handles a number of cases thus the need for solid financial decisions that are tailored towards meeting the expectations of all the shareholders.
The hospital heavily relies on funds raised from the payments made by the patients. The revenue is used for among other reasons, payment of various bills including wage bill accrued from the salaries of all the employees. Further, the hospital sources its financing from various insurance firm with whom it has partnered with for insurance covers. The finances raised from the insurance covers too are meant for the uses of the hospital as well as sponsoring among other courses, corporate social responsibility drives.
Apart from sourcing funds from the sales and purchase of drugs, and treating of patients, Atlanta General Hospital relies on grants and aids from the public and private sectors. It has in the past sourced funds from the local governments. However, these are for subsidiary expenses and not part of the major budget as the latter is catered for the shareholders.
Because Atlanta General Hospital remains to be one of the most famous, well-equipped and very strategic in Atlanta, it is seen as the source of hope and a promise for the better medical healthcare in the region. With this in mind, the facility has strived over the recent years to live to the expectations of the people as well as to conform to its mission, vision and code of ethics. It has lived to the expectation of the community by offering alternative solutions to the trouble of the community as well as being part of the solution. The hospital has heavily invested in conducting research on the various diseases that affect the public. As if that is not enough, Atlanta Hospital has been involved in charitable courses such as providing free medical healthcare to the underprivileged in the society as well as training more nurses and doctors to take up the vacancies that sometimes are in the hospital. This ensures that at no time will the hospital become starved of personnel.
Quality and Ethics
Atlanta General Hospital is not only known and appreciated for its high quality and standards in the delivery of medical healthcare but also its high standards of ethical values and moral standings. Quality, as is deducible from its core values, mission and vision; is paramount in the delivery of proper medical healthcare to the clients.
The facility enjoys the privileges to offer the medical services that it offers thanks to the accreditation of its services by the BBB body as well as other relevant bodies that are mandated to offer the services that it does. Further, the hospital has in the past received various awards that recognize its input in providing better medical healthcare to the public (Andrew, 2009). The institution has won various awards with the most recent award being The Center of Excellence Award in Delaware. It has also bagged other awards that have appreciated the role it has played in Delaware and Atlanta. Other awards and recognition that the Atlanta General Hospital prides itself on include, ACR Lung Cancer Screening Center, ACR Ultrasound Accredited Facility, Bariatric – A Center of Excellence, Eunice Q. Sorin Women’s, Diagnostic Center – A Center of Excellence, Get With the Guidelines® Stroke Quality Awards, Vascular Laboratory: IAC Accredited Facility, Wound Care Center Awards, and 2010 Delmarva Foundation Excellence Award (Atlanta General Hospital, 2015).
Being a renowned medical healthcare institution, the hospital is bonded by too many regulations that it has to play by. One of the regulations is the government’s regulation on hospital and healthcare. Moreover, it has a fiduciary relationship with its patients and as such, it is under duty to handle all its services with so much caution as not to breach the relationship. For instance, it is under duty to uphold high level of professionalism in all its undertakings. Moreover, some other obligations such as doctor-client privilege is another very serious issue that regulate the interaction of the many employees of the institution as they aim at protecting very fundamental rights of the patients.
Marketing is one very key component of every organization’s success story. Atlantic General Hospital too relies on marketing as a strategy to sell its brand and expand its operations. The hospital has heavily invested in various marketing strategies so as to create market awareness as well as to promote their services and products. The wards that Atlantic General Hospital has won over the past years too have been a source of marketing for the company (Deburne, 2010). In a recent TV advert, the hospital targeted new clients by highlighted some of the services they offer, displaying their well trained and experienced team of doctors and specialists in the relevant field. Furthermore, the hospital has extensively taken advantage of the internet to showcase the various services and products that they offer. In their website, they have enlisted among other things their team of well specialized doctors and other specialists, the awards that they have won in the recent past, as well as the services that they offer. This has played a critical role in building their brand as well as strengthening its muscles in the world. It is also a way of bettering the market competition.
Finally, Atlanta General Hospital has shown incredible steps towards community service. The hospital has been in contact with the community by taking part in various community service. The management of Atlantic has been insistent in engaging in Corporate Social Responsibility (Carlos, 2010). According to Atlantic General Hospital management, Corporate Social Responsibility has been one of their major strengths in getting in touch with the community through offering free or subsidized services to the public as well as engaging in other development projects that are designed to assist the public. One major way in which they offer services to the public include offering free eye or tooth checkups and treatment, as well as to conduct free mobile laboratory tests. Furthermore, the Hospital, through the partnerships of various corporates, bring closer services to the public in a bid to resonate with the public, get feedback from the public as well as to offer assistance to the various needy groups.
Moreover, with the help of government institutions, Atlanta general Hospital has stepped up the process of elevating various dispensaries, a move designed to ensure that basic amenities are brought closer to the public.
To conclude, it is indeed prima facie evident that Atlantic General Hospital has taken adequate measures to ensure that it progresses in not only service delivery but also in ensuring that it meets its ethical, and moral obligation.
Andrew, C. D. (2009). Principles of Management. Ohio: Maryland Press.
Atlanta General Hospital. (2015, January 23). About Us. Retrieved from Atlanta General Hospital: http://www.atlanticgeneral.org/About-Us/Award-Winning-Care.aspx
Carlos, A. (2010). Dynamics of America’s Medical Industry. NY: PWC Press.
Deburne, C. (2010). Organization of America’s Healthcare Industry. America’s Journal on Medicine, 210-222.