Strategic Planning Flashcards
what is strategic planning?
Process of ensuring that an organization’s current purpose, aspirations, goals, activities and strategies are connected to plans that maximize its performance and support it’s mission
why is strategic planning important?
Guides an organization by developing a plan of action to achieve a future goal/objective, mission, direction and/or vision
what is a vision?
organization’s image / aspiration of the future
what is a mission?
organization’s purpose, reason for being
who are stakeholders?
those invested in the organization who have something to gain or lose by the organization’s success or failure
what are the major components of strategic planning?
vision mission stakeholder involvement Environmental Analysis SWOT ID possible Scenarios Prioritization and Selection of Strategic Goals Determination of Evaluation Criteria
what is the strategic planning process based on?
dynamic systems theory
Internal & External Environmental Analysis
what are SWOT strengths?
attributes of the organization that are helpful to achieving an objective
what are SWOT weaknesses?
attributes of the organization that are harmful to achieving an objective
what are SWOT opportunities?
external conditions that are helpful to achieving an objective
what are SWOT threats?
external conditions that are harmful to achieving an objective
what are direct costs?
the actual cost of providing a particular service (materials/supplies, time, personnel)
what are indirect costs?
the “overhead”, e.g. electric, water, processing the bill, supportive personnel
what are fixed vs. variable costs?
Fixed- constant, stable costs
Variable- costs that change with volume/census changes (e.g. disposable supplies) or as market dictates (e.g. gasoline)
what is a start up budget?
all expenses needed to get business/program up and running
what is an operating budget?
Day to day costs associated with carrying out your program that may be variable depending on volume, case mix
what is a capital budget?
Items or improvements over a certain $ amount with an expected useful life of > a few years. Ex: any single item over $1000.00
what is a durable budget?
Non-disposable items that can withstand repeated use
what is a disposable budget?
Consumable items that are not reusable or must be thrown out after each use
what is personnel budgeting?
Largest budget item
Staffing Patterns and Plans
FTE
Productivity
what is a direct equipment cost?
cost of actual equipment purchase or rental
what is an indirect equipment cost?
cost to run, maintain equipment, training costs, space utilization
What is the optimal level of inventory to have on hand?
“standing orders”
how do you keep “standing orders”?
balance costs of capital spent on stock/storage, and loss, vs. costs of running short of equipment and disrupting service, placing frequent orders, losing volume discounts, and increasing shipping
how do you budget for space?
Consider efficient use of space, direct and indirect costs of space, special needs, safety, storage space, adherence to regulation
what are actual costs?
What it actually costs to provide a service
What is a charge?
What you actually bill
your “mark-up”
(what you bill may not be what is ultimately paid)
what is contractual allowance?
discount given to a payer; it will result in the paid fee being lower than the billed fee
what are Relative Value Units (RVU)?
form of billing that considers equipment, time, staff skill level to provide a procedure
what makes higher RVU’s?
More expensive equipment, longer periods of time, require higher skilled staff
what are CPT codes?
A uniform coding methodology for medical procedures
Ex: Timed vs. Untimed CPT Codes
Group vs. Individual CPT Codes
what type of service is billable?
only direct service
what should OT consider for group tx?
equipment + time / # of participants when calculating charge
Be sure insurance will reimburse; may limit # of group txs per week
Differentiate group tx vs. concurrent tx
Be aware of regulations and concurrent txs (staff: patient; # minutes per week; “dovetailing”)
what to consider for charge vouchers?
Have system in place for generating and imputing your bill.
Paper vs. electronic
what to be aware of for documentation for charges?
Documentation MUST support charges, be complete, be timely
what are managed care considerations?
Prior Approvals
Visit Caps
Preferred Providers
Timeliness
what is OSHA responsible for?
federal agency that Develops standards, educates, surveys/ inspects worksites, responds to complaints, enforces
what is the goal of Material Safety Data Sheet (MSDS)?
provide workers and emergency personnel with proper procedures for handling or working with a particular substance
what kind of info does the Material Safety Data Sheet (MSDS) provide?
physical data (melting point, boiling point etc.), toxicity, health effects, first aid, reactivity, storage, disposal, protective equipment and spill/leak procedures
