Introduction
As an organization it is important that we grow to improve patient outcomes by providing
an all-encompassing standard of care. Our hospital
... [Show More] has recently acquired a multi-specialty
practice that will add to our already high level of healthcare delivery. As with any growth, there
will be obstacles and adaptation that require a strong strategy and implementation plan to achieve
the highest comfortability for all our key stakeholders.
Key Stakeholders-A1
There are several key stakeholders that will be impacted with this opportunity of growth.
One is the physician owners whom previously led this practice. The physician owners will
impacted by the importance of operational decisions being shared with our hospital leadership.
This potentially could lead to creative differences that will ultimately lead to a better-rounded
standard of care of all our patients. There is the potential for irreconcilable differences that could
potentially lead to the loss of some physicians. It is important that we remain cognizant and
understanding of these differences to minimize this loss. Another impact will be increased patient
visits. In order to provide better post-admission care for our patients, the practice will take on
more follow up cases. This will ultimately lead to higher patient satisfaction. The increased
patient load could potentially lead to increased hours of operation that will require longer work
hours from these physicians. In order to create a seamless experience for our patients, we will
need to align our vision and patient focused strategy with the acquired practice. The physician
owners whom had previously been accustomed to a more hierarchical decision structure could
potentially not agree with the hospital’s vision. With the acquisition, there will be increased
opportunity for the physician owners to collaborate with our hospital physicians to discover the
ACQUISITION MANAGEMENT AND STRATEGY 3
best method of treatment for all patients. This opportunity also opens a platform for increased
learning and continued education.
Another key stakeholder group is our hospital leadership. The management team will
need to adjust current policies and procedures to accommodate this new positional hierarchy
structure. In order to create an easier transition, management will be required to be available to
new staff and physicians when needs arise. This could mean being on call after hours and
temporarily taking on more job roles to fill in gaps. This will create career opportunities for new
leadership roles and promotions within our organization. Hospital leadership will be encouraged
to remain compassionate and understanding under all situational differences.
Clinical staff of this practice will also be impacted among this acquisition. Clinical staff
will have more opportunity for overtime as well as opportunity for cross-training. Staff will also
need to adapt to new policies and procedures as well align the practice with the hospital current
practices. This will be a learning process that will require the staff to increase their learning
curve in order to take in new responsibilities. In order to help accommodate the increased patient
visits in the practice, there will be new hire employees that will need to be trained and acclimated
into the practice. Current staff will be required to train these new staff. This will also create and
opportunity for training positions with increased wages.
Our current hospital vendors will be impacted with this acquisition as well. In order to
standardize our supply and medication orders, research for best solutions for both the hospital
and practice will be conducted. This could lead to the dissolution of current contracts with supply
and pharmacy vendors. This will include medication supply as the practice will now utilize the
hospital’s internal pharmacy for orders. This will save the organization money as well as
streamlining medication inventory. This will also increase demand from some our vendors. With [Show Less]