NURS FPX 8010 Assessment 3 Strategic Plan Development

Name

Capella University

NURS-FPX8010: Executive Leadership in Contemporary Nursing 

Prof. Name

September 2024

Strategic Plan Development

Mayo Clinic is a world-renowned medical institution dedicated to the highest standards of patient care, medical research, and education for healthcare professionals. Hailed for its expertise in areas such as cardiology, neurology, and transplant services, Mayo Clinic leads in innovation and excellence in healthcare. This strategic plan is aimed at setting up the priorities of the departments at Mayo Clinic through the application of the balanced scorecard approach thus being aligned with the organization’s key objectives (Manolitzas et al., 2020). Using the BSC framework makes it possible to support a balanced approach toward financial performance, patient outcomes, internal processes, and professional growth. The BSC departmental goals are associated and set up so that the department may contribute successfully to Mayo Clinic’s vision further toward advancing patient care, medical innovation, and clinical education.

Departmental Strategic Priorities

The strategic priorities of the department for Mayo Clinic support the overall mission of the organization, that is, to provide superior care to its patients, advance industry solutions with better medicine, and all-around professional development(Cho et al., 2020). These priorities have financial efficiency improvement, patient experience enhancement, optimization of internal workflows, and continuous staff development at their core. All these are critical for the department to meet its strategic aims with contributions toward the realization of overall objectives for Mayo Clinic. Thereby, the strategic priorities rendered by the department will help create good operational performance, ensuring persistent focus on superior care.

Financial Domain

The financial priority will be resource utilization increase with costs lowered without a compromise on the quality of patient care (Shrank, 2021). The department will ensure financial sustainability by deploying cost-effective measures such as the implementation of new, advanced technologies in healthcare, as well as optimization of staffing models. This will help Mayo Clinic to maintain quality care coupled with proper management of resources within the not-for-profit structure.

Customer/Patient Domain

The overall aim is to increase patient satisfaction through higher patient involvement, shorter waiting times, and timely care (Robinson et al., 2020). Implementation of techniques such as a patient feedback survey and a model of patient-centered care will help ensure that patients are given appropriate time as well as empathetic time. This will be harmonized with Mayo Clinic’s core value: putting the patient first.

Internal Processes Domain

Emphasize workflow and efficiency through the adoption of new technologies and process improvements (Unertl et al., 2020). Reduce duplications, improve coordination, and enhance care delivery by applying tools, such as EHRs and telemedicine services. This action facilitates Mayo Clinic in its strategic focus: attention to operational excellence and continuous improvement.

Learning and Growth Domain

A significant emphasis will be on continuous professional development and innovation among the staff (Tsimane & Downing, 2020). The department will encourage members of the staff to gain ongoing education, leadership training, and opportunities to be part of continuing medical research. A culture of learning and growth across the department will contribute to Mayo Clinic’s mission of advancing healthcare through education and research and better equip the staff members for the future.

Effects of Organizational Policies

The organizational policies at Mayo Clinic played a great role in defining and guiding the department’s strategic priorities (Jun et al., 2021). In general, Mayo Clinic’s overreaching policies, primarily on patient-centered care, research, and education, determine how the department will set and achieve its goals. For example, at Mayo Clinic, its very strict quality and safety approach ensures that any effort that raises the level of patient care and efficiency at its operational levels takes precedence. Policies that ensure ethical best practices and safe treatment of patients are aligned with efforts by the department in trying to reduce errors and even streamline processes as given by advanced technologies through evidence-based practices. These policies enable the department to strive toward fiscal viability while not compromising on the highest standard of care that supports the not-for-profit Mayo Clinic mission.

However, a small number of the organization’s policies end up becoming counterproductive to departmental objectives (Ali & Johl, 2020). For instance, stringent policies controlling budgetary control may limit the flexibility to embrace the latest technologies. The strictness may also limit the department’s capacity to gain financial ground or improve intra-organizational processes. Although such patient-privacy policies are important, they do raise the challenge for the department to achieve ease of communications and workflows when promoting internally, and introducing new electronic health record systems or telemedicine solutions.

Admittedly, careful planning will be needed to honor these policies while ensuring that the underlying priorities behind the improvements in the department toward patient satisfaction and operational efficiency are met in a way that does not breach the boundary of compliance.

The logical fallout of such policies is that the department must balance its drive for innovation with a corresponding push for compliance. While policies can help back up the strategic direction through an orderly and controlled environment, they may also require resources or time to properly effect change. The department thus needs to blend its goals with Mayo Clinic’s policies so that all initiatives are feasible and sustainable in this framework. Doing so, in turn, places the department in an excellent position to assist Mayo Clinic in achieving its mission of delivering world-class healthcare, advancing medical knowledge, and fostering continuous professional growth within an environment characterized by compassion, integrity, expertise, and discovery.

Elements of Strategic Plan

The crosswalk table of the Mayo Clinic will depict how the overall strategic plan of the organization aligns with the departmental strategic priorities. This will ensure that all the departmental initiatives are in place to support the overarching goal of the overall organization, Mayo Clinic, in providing unparalleled patient care and advancing medical research while in the same breath promoting medical education

Balanced Scorecard Domain	Departmental Strategic Priority	Alignment with Cleveland Clinic’s Strategic Plan	Organizational Mission/Objective
Financial	Maximize resource utilization and thus optimize financial viability	Supports Mayo Clinic’s operation efficiency and cost-containment initiatives	Ensure viability but at the same time provide quality, patient-centered care
Customer (Patient)	Enhance patient satisfaction through personalized care	Consistent with the Mayo Clinic’s commitment to customer-centered care.	Patient Outcomes to be improved through personalized compassionate care.
Internal Processes	Professional clinical operations are streamlined through the application of leading-edge technologies.	Such actions benefit from facilitating operational efficiency and care delivery improvement.	A more effective process leads to enhanced care coordination and minimized waiting times.
Learning & Growth	Promote lifelong learning for staff	Supports Mayo Clinic’s commitment to innovation and leadership in medical education.	For staff development, ensuring leadership in research, education, and excellence in care

Balanced Scorecard

A strategic tool devised to realign the initiatives of the department with overall organizational goals. It emphasizes four key areas that include financial sustainability, customer/patient satisfaction, internal processes, and learning and growth (Romero et al., 2021). In terms of its finance domain, this focuses more on improving operational efficiencies so that there is a cutting down on cost requirements and long-term sustainability. It aims to enhance the patient experience through personalized care and digital tools while having measurable goals related to patient satisfaction. In the internal process domain, it primarily tries to streamline workflows and reduce wait times with the help of integration with technology, such as electronic health records. Lastly, within the learning and growth domain, its focus is placed on ongoing staff development through efforts to improve participation in training programs to keep abreast of advances in medicine. The balanced scorecard manages to connect these departmental priorities to Mayo Clinic’s overall mission toward advancing healthcare while ensuring that the cause-and-effect relationships are clear-cut, ensuring success in operations and superior patient care.

NURS FPX 8010 Assessment 3 Conclusion

The development of a balanced scorecard for a department at Mayo Clinic is a critical framework that enforces strategy priorities by being aligned with the general objectives of the organization that is, to deliver excellent patient care and to improve the area of medical research. From the criterion of financial sustainability, improvement in patient satisfaction, business process streamlining within an institution, and staff development, the scorecard presents evident goals and measurable results for the betterment of performance (Thanh et al., 2021). This structured approach ensures that departmental initiatives remain fruitful contributors to Mayo Clinic’s overall goals. It will foster a culture of responsibility and continuous improvement. Ultimately, the balanced scorecard allows the department to be responsive to dynamic changes in the healthcare industry, and yet, at the same time, it will not deviate from its commitment to quality and innovation.

NURS FPX 8010 Assessment 3 References

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Cho, S., Lee, J., You, S. J., Song, K. J., & Hong, K. J. (2020). Nurse staffing, nurse prioritization, missed care, quality of nursing care, and nurse outcomes. International Journal of Nursing Practice, 26(1). https://onlinelibrary.wiley.com/doi/10.1111/ijn.12803

Jun, J., Ojemeni, M. M., Kalamani, R., Tong, J., & Crecelius, M. L. (2021). Relationship between nurse burnout, patient and organizational outcomes: Systematic review. International Journal of Nursing Studies, 119(103933). https://sciencedirect.com/science/article/abs/pii/S0020748921000742?via%3Dihub

Manolitzas, P., Grigoroudis, E., Christodoulou, J., & Matsatsinis, N. (2020). S-MEDUTA: Combining a balanced scorecard with simulation and media techniques for the evaluation of the strategic performance of an emergency department. Advances in Experimental Medicine and Biology, 1194, 1–22. https://link.springer.com/chapter/10.1007/978-3-030-32622-7_1

Robinson, J., Porter, M., Montalvo, Y., & Peden, C. J. (2020). Losing the wait: improving patient cycle time in primary care. BMJ Open Quality, 9(2), e000910. https://bmjopenquality.bmj.com/content/9/2/e000910

Romero, S., Whitford, D., Johnson, M. G., Hickman, J., Morlan, B. W., Therneau, T., Naessens, J., & Huddleston, J. M. (2021). Using machine learning to improve the accuracy of patient deterioration predictions: Mayo Clinic early warning score (MC-EWS). Journal of the American Medical Informatics Association, 28(6), 1207–1215. https://academic.oup.com/jamia/article-abstract/28/6/1207/6151565?redirectedFrom=fulltext

Shrank, W. H. (2021). Health costs and financing: Challenges and strategies for a new administration. Health Affairs, 40(2), 235–242. https://www.healthaffairs.org/doi/10.1377/hlthaff.2020.01560

Tsimane, T. A., & Downing, C. (2020). Transformative learning in nursing education: A concept analysis. International Journal of Nursing Sciences, 7(1), 91–98. https://www.sciencedirect.com/science/article/pii/S2352013219301760?via%3Dihub

Thanh, P., Thanh, N., Chien, V., & Thi, M. (2021). Sustainable business development of private hospitals in Vietnam: Determinants of patient satisfaction, patient loyalty and revisit intention. Problems and Perspectives in Management, 19(4), 63–76. https://www.businessperspectives.org/index.php/journals/problems-and-perspectives-in-management/issue-392/sustainable-business-development-of-private-hospitals-in-vietnam-determinants-of-patient-satisfaction-patient-loyalty-and-revisit-intention

Unertl, K. M., Novak, L. L., Van Houten, C., Brooks, J., Smith, A. O., Webb Harris, J., Avery, T., Simpson, C., & Lorenzi, N. M. (2020). Organizational diagnostics: a systematic approach to identifying technology and workflow issues in clinical settings. JAMIA Open, 3(2), 269–280. https://academic.oup.com/jamiaopen/article/3/2/269/5838472

Appendix A

Balanced Scorecard

Domain	Objective	Performance Metric	Benchmark Target	Prospective Initiative
Financial	Increase revenues by increasing operational efficiency.	Cut the costs of operations by 10 %.	Achieve it in the fiscal year.	Resource Optimization practices and waste reduction.
Customer (Patient)	Improve patient satisfaction and health outcomes.	Increase patient satisfaction scores by 15%.	Achieve higher scores within six months.	Develop personalized care programs and enhance patients’ communication.
Internal Processes	Streamline care delivery and internal communication.	Reduce average wait time by 20%.	This is to be achieved within 12 months.	Electronic health records and improved workflow communications.
Learning & Growth	Facilitate continuous professional development of staff	Increase by 25% training participation	Have 80% staff attendance within a year.	Develop periodical training on medical innovation and best practices.