Strategy:
The primary aim of Steward Health Care System was offering local, high-quality and low cost care services. The company wants to differentiate itself from expensive and high class medical facilities based in Boston. Another purpose of the business is to provide services to the patients in such a way which could reduce their total medical related expenses. In order to achieve all this, the company has to make a successful design to implement and fulfill all these objectives.
As of now, the company has raised the equity privately and altered itself from not-for-profit to profit organization. In addition to that, the company is currently experimenting with a model known as Accountable Care Organizations.
Conclusions and Recommendations:
The company has made rapid growth in the health care sector over the past few years. The company successfully doubled its financials within four years. The center for Medicare and Medicaid (CMS) identified a model to make advancements and improvements for the Medicare patients through reduction in cost and making improvements in care. . The company should take a measure so that CMS could be able to make the timely submission of data that in turn will increase the management of patient’s records. CMS always finds difficulty in verifying the data featured to the particular person correctly. The company has to identify about the productivity of ACO model for the company.
Steward Health Care System should continue implementing ACO model as the model places a financial responsibility on the shoulders of the providers to improve the overall management of the system and make limitation on the expenses in the medical services. In addition to that, the company should take some measures to make some alignment in the data. Moreover, having all the issues behind, the CEO of the company was aware of the fact that Steward has to invest around $11 million investment in this model but the model will eventually result in cost saving and reduction in expenses..................................
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