Please respond to the following discussion post as a peer making a comment the current discussion . “Business and project plans play an essential role in the healthcare industry. They assist in controlling costs, managing risks, and improving project outcomes. The healthcare industry can systematically plan, organize, and execute tasks by applying business and project plans, maximizing resources, and achieving specific goals. For instance, the Waterfall project management technique is a sequential, linear process with several distinct phases (Engelhardt, M. A. (2017)). In the waterfall technique, the project is regularly documented along the way, and each step is completed before the next one begins. The method has been used effectively to complete large-scale projects in the healthcare industry. Also, the practical management technique is a business plan that starts with a pre-existing, out-of-the-box starter set and uses that to show baseline functionality of the sepsis outcome improvement application using the client’s data. From there, users will develop a set of enhancements to make the application more tailored to their organization. Afterward, a new set of improvements is designed based on a deeper understanding of the process and how it can be improved. The technique helps teams in the healthcare industry to accomplish more tasks in less time.
The main difference between business and project plans in the health care industry and those in the business environments lies in the main objectives of the plans. In the healthcare industry, the main aim is to improve patient care, improve patients’ overall experience and satisfaction, and reduce the cost of healthcare services to benefit patients. On the contrary, the main objective in the business environment is to maximize output, minimize the cost of production, and maximize profits for the business.
One of the common elements used in most standard business plan models is market analysis. Most business plan models require the entrepreneur to become familiar with all market aspects to define the market, establish prices, and develop distribution and marketing strategies. Secondly, most business plan models include the company’s organization and management structure. The section describes the management team and the qualifications of the panel of experts on the board of directors. Thirdly, most business plan models have service and product lines representing the company’s service and product (Moseley, G. B., III. (2017).
Additionally, the models also include funding requirements. The section states the funding needed to start or expand the specified business. These are some common elements in most standard business plan models.
Engelhardt, M. A. (2017). Hitching healthcare to the chain: An introduction to blockchain technology in the healthcare sector. Technology Innovation Management Review, 7(10). Moseley, G. B., III. (2017). Managing health care business strategy (2nd ed.). Jones & Bartlett Learning.
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I agree with the discussion post that business and project plans are essential in the healthcare industry. These plans help in controlling costs, managing risks, and improving project outcomes. By systematically planning, organizing, and executing tasks using business and project plans, healthcare organizations can maximize resources and achieve specific goals.
The mention of the Waterfall project management technique is relevant in this context. The Waterfall approach is a sequential and linear process where each phase of the project is completed before moving on to the next one. This technique has been effectively utilized in completing large-scale projects in the healthcare industry. By documenting the project along the way, the Waterfall method ensures that progress is tracked and accountability is maintained.
Similarly, the practical management technique mentioned in the discussion post is another valuable strategy. This technique involves starting with a pre-existing starter set and then tailoring it to meet the organization’s specific needs. By continuously enhancing the application based on a deeper understanding of the process, teams in the healthcare industry can accomplish more tasks in less time.
The main difference between business and project plans in the healthcare industry and those in the business environment lies in their objectives. In the healthcare industry, the primary aim of these plans is to improve patient care, enhance patients’ overall experience and satisfaction, and reduce the cost of healthcare services. On the other hand, the objectives of business plans in the business environment are to maximize output, minimize production costs, and maximize profits for the business.
Market analysis is a common element in most standard business plan models. It helps entrepreneurs define the market, establish prices, and develop distribution and marketing strategies. Additionally, business plan models also include sections on organizational structure, management teams, qualifications of experts, product/service lines, and funding requirements.
Overall, business and project plans are crucial tools in the healthcare industry. They enable healthcare organizations to effectively plan, execute, and achieve their goals, leading to improved patient care, reduced costs, and better project outcomes.