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How should potential strategies for the finance organization

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Reference no: EM133349250

Case Study: Johns Hopkins Medicine, with headquarters in Baltimore, Maryland, is a $8 billion global health care organization that operates six academic and community hospitals, six suburban health care and surgery centers, and 40 primary and specialty care outpatient sites. The organization strives to create a culture in which diversity, inclusion, civility, collegiality, and professionalism are championed through actions, incentives, and accountability. Johns Hopkins Medicine's mission, vision, core values, and objectives are presented in Table 12.4.

Table 12.4 Johns Hopkins Medicine Mission, Vision, Values, and Objectives

Mission: To improve the health of the community and the world by setting the standard of excellence in medical education, research, and clinical care

Vision: Johns Hopkins Medicine pushes the boundaries of discovery, transforms health care, advances medical education, and creates hope for humanity. Together we will deliver the promise of medicine.

Core Values:

Excellence and discovery

Leadership and integrity

Diversity and inclusion

Respect and collegiality

Objectives:

Advance discovery through use of diverse data sources.

Develop Precision Medicine Centers of Excellence (PMCOEs) that encompass both clinical and basic science research.

Enhance individualized care decisions and outcomes through stratification of patient data.

Ensure data integrity and an integrated clinical and operational analytics platform.

Transform educational practice and content to tailor learner experience to individual needs.

Forward-looking workforce plans that align with clinical and academic objectives.

You are a member of a three-person team within the finance organization that is working under the direction of the CFO to define a set of strategies that will support Johns Hopkins Medicine's financial objectives and goals.

Review Questions

  • The CFO has asked each member of the team to express his or her thoughts on two topics:
  • Should any resources from outside the finance organization be recruited to help identify and evaluate alternative strategies? Why or why not?
  • How should potential strategies for the finance organization be evaluated?

Critical Thinking Questions

  • Develop two hypothetical objectives specific to the finance organization that are consistent with Johns Hopkins Medicine's overall vision, mission, and objectives.
  • For each objective develop one SMART goal.

Reference no: EM133349250

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