Strategic Planning For Health Organization

Strategic Planning For Health Organization
Name
Institution

What value does strategic planning have for healthcare organizations?
Strategic planning is an essential component of the management of a health organization. It helps in establishing the goals and objectives that support the organization to operate on a day to day basis. Strategic planning is used to identify the company’s weaknesses, strengths, threats and opportunity and use them to come up with an essential plan that will be like a guide to the management (Blair, 2007). The program adds several values to the company among them are costs which include giving the company an opportunity to work in a controlled environment that helps to provide services to patients in a patient-centered climate. It also supports a health facility to identify its potentiality based on the service delivery and the general principles and cultures that guide the health facilities in the country.
What role does financial management play in strategic planning?
Financial management is an essential component of strategic planning. It gives the health organization an opportunity to prepare a budget that will enable it to equip the hospital or a health facility with all the required materials such as the machines and drugs. The management of finance should be done in a way that gives priority to the essential services in the company. The administration needs a proper management planning to ensure that there is no inadequacy in service delivery in all sections of the health facility.

Financial management also helps to ensure appropriate accountability on the use of resources for the company, therefore, helps in identifying the potential areas of wastage (Blair, 2007). As a result, the health facility will operate efficiently with proper financial accountability. Strategic planning, therefore, requires the well-planned use of finance that ensures accountability in all the purchases of the health organization.
References
Blair, J. D. (2007). Strategic Thinking and Entrepreneurial Action in the Health Care Industry. Amsterdam: JAI Press Inc.