Discuss three or more business principles as discussed in the Greg Fisher Power Point
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This week you have read about several areas of financing as it relates to the health care system and some health care retail areas that may be of interests. For this assignment, put yourself in a nurse manager, director of nursing, Chief Nursing Officer (CNO), or business owner role. Discuss three or more business principles as discussed in the Greg Fisher Power Point-in the learning activities (in your own words) which are needed to maintain safe, quality, patient-centered care that is fiscally sound, provide supportive data. In your discussion consider:
Why have you selected the business principles?
Are the business principles used at your current facility?
If you feel that they are, give supportive examples.
If you feel they are not give examples of how they could be implemented.
Why are those specific principles important in health care?
Why are those specific principles important to you?
PLEASE RESPOND TO THE DISCUSSION POST BELOW. Minimum 100 words excluding references.Needs one reference. Responses to colleagues should be supportive and helpful. APA 7th edition
Please Read Chapters 29, 33, 37 and Politics in Nursing and Health Care,Elsevier Saunders, 2021, 8th edition and use as a reference for this discussion post response
1. use link
2. Go to digital bookshelf
3. select book Politics in Nursing and Health Care
4. then hit access and the ebook will open
Business Principles By Kelly
Even though we are in the medical field and are here to help patients the business side can not be ignored. Greg Fisher a lecturer at the University of Washington has a list of Top 10 Basic Business Principles. Including deciding what you do, who you serve, what makes you different, managing cash flow, managing employees, managing customer expectations, setting goals, exposure, preserve, and finally always maintain integrity. (Fisher,2008) A few stick out to me as especially important deciding what you do, who you serve, managing customer expectations, and managing cash flow.
When running a business even a medical facility there must be many different sides that always have to be in balance for success. To achieve this success there are some principles you must follow. Starting with deciding what you do and sticking to it. Your place of business will have a customer base that it serves you must be aware of your customer base and what they need from you to best serve them. When addressing your customers in our case patients, you also must know their expectations, so you don’t fall short and inevitably loose them. Finally, you sadly always need cash flow and have it managed. Having a medical facility cost money to run and if finances get away from you then so will your facility.
The company I currently work for does a good job of keeping many of these in mind keeping it successful. My company adheres to the four principles I listed above and demonstrate why they are important to healthcare. Starting with deciding what you will do and sticking to it. My company VH as it will be referred to is a group of rural health facilities that have many different specialties. These specialties feed into my number two principle who you serve. VH has different offices for different specialties leading to the employees in these offices having special education and certifications in the specialty. This higher level of expertise leads to the patients receiving more specific care. Third what makes you different, VH also sets extremely high standards regarding hiring, policies, procedures. Finally, management of cash flow, VH supplies its employees with fair pay while stressing the importance of budget to have the ability to keep those salaries at higher levels. VH is hyper cost- conscious like many other companies currently. (Mason et al, 2021)
Keeping all this in mind between deciding you are as a company, what you do, who you serve, and cash flow. There is something that always comes first especially in the medical field and that is that patient.
Fisher, G. (2008, March 24). Top 10 Basic Business Principles. SlideShare. https://www.slideshare.net/GregFish/top10-basic-business-principles
Mason, D. J., Dickson, E. L., McLemore, M. R., & Perez, G. A. (2021). 16. In Policy & Politics in Nursing and Health Care (8th ed.). essay, Elsevier.