Health Care Industry for Public Policy- MyAssignmenthelp.com

Question: Discuss about theHealth Care Industry for Public Policy. Answer: It is found that healthcare industry is mainly considered as an aggregation and integration of sectors within the economic system that majorly provides the goods and services in order to treat the patients with the curative, preventive, rehabilitative and the palliative care by the professional experts. In addition to this, it can be stated that the generation along with the commercialization of services and goods lending themselves in order to maintain and re-establish health. It has been found that the healthcare industry is mainly divided in to so many sectors and dependence on the interdisciplinary teams of professional and highly trained health experts that meet the needs of individuals. Additionally, it has been observed that the health care industry is one of the fastest growing industries in the world. Along with this, this industry is majorly consuming the percentage of over 10% gross domestic product for the most developed nations. Hence, it can be stated that the health ca re industry is an enormous part of a countrys economy. According to the study of (Chang et al, 2014), the delivery of the health care services from the primary care unit to secondary by leading to the tertiary level of care is considered as the most visible part of any healthcare system. Justification of the establishment of an external competitive position It has been found that the competition among the businesses has been encouraged and mainly as a mechanism to increase the value for the patients. In addition to this, competition helps in the provision of the better products and services so the needs of the customers can be satisfied in the more effective and efficient manner. The current research paper aims to develop a model that can assists in the empirical investigation of a number of complex issues and relationships which is mainly associated with the competition found in the health care industry. Furthermore, within the health care industry it is fond that competition mainly impacts with the several relational perspectives that report the impact of increased competition. There are some studies done in the past that shows that competition is capable of increasing the value of customers over the different time period. It is depicted in the study of (Lee, 2014), external environment is even more diverse and complex than the intern al environment. Therefore, the higher authorities give their attention to the external environment in the more emphasized manner. It has been observed that SWOT analysis is considered as one of the most effective tool to evaluate the external environment in the most effective and dynamic way. Along with this, SWOT analysis also helps in gathering the information about the external factors so that the relevant authorities of the health care industry can be able to identify the various aspects that are involved in the strategic management practices. There are many elements that are needed to be considered in order to analyze the entire situation in the more specified manner. Along with this, it has been observed that with the competition in the health care industry the overall efficiency of the hospitals and the medical institutions improves in the more effective and efficient manner. An analysis of the factors that shape external competitiveness including defining the relevant labor market, designing the survey, policy lines, pay levels, pay mix, pay structures and the reasons for such decisions. It is denoted in the study of (Markovi? et al, 2014), external competitiveness mainly refers that how the business is in its organizations pay or the compensation that has a relation to its competitors. It has been found that there are many factors that can affect the external competitiveness of an industry. There are some factors that are included in this are; labor market factors and product market factors. In addition to this, it can be stated that external competitiveness majorly denotes to the dynamic system in which the industry competes along with this the functions against the other businesses. Furthermore, it has been found that there is huge significance of these factors in order to enhance the efficiency of the health care industry in the more productive manner. Labor market depicts the supply and demand for labor in which most of the employees are able to provide the supply and employers the demand of it. Additionally, one of the major components of any economy is mainly tied in with the market for capital, goods and services. It is denoted in the study of (Chassin et al, 2013), in the health care industry the macroeconomic view of the labor market is highly difficult to measure along with the investors, economists and the policy makers with an idea of its health. Designing the survey is mainly related to the opinions that are related with the health care industry. According to the study of (Chen, 2015), it has been observed that one of the most primary need of the employees that works in any of the industry is that the pay levels should need to be managed according to the market range. In addition to this, it is found that it is the duty of the manager to manage the pay scales as per the standards of the external environment. It is due to the reason that it helps the employees to stay with the organization for the long period of time. Along with this, the element of the pay structure should need to be considered by the employers of the healthcare industry so they can be able to have the most productive outcomes in the shortest span of time. From the above analysis, it has been found that the individuals connected with the health care industry should need to analyze these factors of external competitiveness. It is due to the reason that with the assistance of these factors the overall efficiency of the health care industry can be able to improve in the most dynamic way. Elaborate on the techniques used and the consequences of your pay level decisions in seeking to integrate with the internal structure. Selection of relevant market, policy lines, pay levels, pay mix, pay structures must be clearly discussed in the process of combining external markets rates with internal structure. According to the study of (Berkowitz, 2016), it is found that one should be able to understand the pattern of internal structure in order to make the more appropriate decisions in the health care institutions. It has been observed that pay is critical in order to attain the strategic goal in the more effective and efficient manner. In addition to this, pay impacts the employee attitudes and behavior in the more productive way. There are many benefits that can be attained in the employee compensation in order to determine the organizational cost as it is according to the employers view. There are many policies that are mainly related with the wages, salaries and the other earnings that majorly overcome the income and thus it can help the employees in the health care industry to improve their standards of living in the more productive manner. In addition to this, it can be stated that there are many levels of pay and according to that the fairness level in the organization can get impr oved in the effective way. It is depicted in the study of (Denysyk, 2016), there is various pay structure that can able to determine the pay levels in the more dynamic way. Those pay levels include the relative pay structure for the job that are being paid. In addition to this, it can be stated that pay level mainly refers to the average pay that incorporates the wages and the other bonuses. On the other side, job structure is mainly related with the pay of jobs that is often expressed by the grades of the salary. However, pay policies are attached to the job not with the employees. It has been observed that equity theory and fairness determines the pay structure and the decision area along with the administrative tool. Furthermore, it focuses on the employees pay level comparisons and the consequences of the equity perceptions. It has been observed that with the help of the right decisions regarding the pay levels of the individuals working or related with the health care industry the overall efficiency of the workplace can get improved in the most dynamic way. In addition to this, it is found that when the individuals at the workplace are able to identify that the fair decisions are being made only then they can be able to work more productively and efficiently. This is one of the biggest consequences that are related with the pay level structure within the internal structure. Pay mix is considered as the ratio that exists between the base salary and the incentives that a person gets from the employer on the basis of the performance. Furthermore, pay mix is a standard that can help the employee to identify the standing of the health care organization in which that particular person is working with the other organizations of the market by doing the external competitiveness analysis. It is highly important f or an individual to identify that which is the most appropriate rate for the pay structure for the person so the comparison with the external competitive environment can become more easy and effective. Applying the reward (pay) model to your organization and then integrate the approach in order to recognize employee contributions through performance management. Figure 1: Reward Pay Model for the Organization This is the developed reward pay model for the organization that can be implemented so that the overall efficiency of the workplace can get improved in the more productive manner. In addition to this, this developed reward pay model can be able to gain the brief information regarding the various areas of pay structure in the more effective way. Generally, these stages are being ignored by the employers while making the reward pay model for the company. It has been observed that one of the finest ways to distribute the rewards among the employees is that the incentives should need to be given on the basis of performance. Additionally, it is found that those organizations that are able to identify the strengths of their employees and then appraise them according to their potential have a less turnover ratio as compare to the organizations. Pay-for-Performance Recommendations It has been observed that pay for performance is the best way to enhance the credibility of the organization in the more effective and efficient manner (Biehl, 2013). There are numerous benefits that are related to the aspect of pay-for-performance (Erickson, 2014). Those benefits incorporate less turnover ratio in the company, more productive contributions by the employees etc. Paying according to the performance promotes the level of transparency It also helps in making the program simpler, the metrics that are used to measure the reward performance should need to be easy for the team members so they can be able to understand it in the more effective and efficient manner. It generally encourages the employees to conduct a self-appraisal. The companies that made their employees to participate in the in the appraisal are a lot more familiar with the standards of the performance. It makes the employees of the company more motivated to achieve their targeted goals in the more specified period of time. Paying for the performance also offers the opportunities to the employees so they can be able to learn and grow in their professional lives in the more productive manner. These recommendations for the pay-for-performance can help the organization to enhance the level in the more effective manner. In addition to this, the stated recommendations are found to be productive for the team members in the organization or even the single employee of the company. Hence, it should need to be implemented in order to gain the expected outcomes in the shorted span of time. Plan, Design, Administration of Health Program According to the past studies it has been found that it is highly significant for the employer to design the benefit program so the employees can be able stay loyal with the company for the longer period of time. In addition to this, it can be stated that with the increase in the loyalty factor in the employees of the company the overall ratio of productivity in the company can get improved in the short period of time. It is found that benefits programs refer to such programs in which the employer provides the benefits to the employees in order to sustain them with the organization. Generally, the benefit program includes the medical facilities, vocational trips with the family and incentives on the special occasions for the employees from the employer. Furthermore, it has been observed that the development of this benefit program should need to be done as per the needs of the employees. In addition to this, it can be stated that the planning of the benefit program must relate with t he policies of the organization. The main aspect that need to be analyzed is that if the employer is able to plan and design the benefit program for the company only then the expected results can be obtained in the more effective and efficient manner. It is depicted with the enhancement in the benefit program structure the level of the activities carried at the workplace can get boost up in the more dynamic way. The final outcome of the project must show evidence in determining the relevant market, how you establish the pay structure in your definition of external competitiveness. In a nut shell, it has been observed that it is highly significant for employers to develop such strategies that can be able to meet the objectives of the employees and the target of the organization (Mirror, 2002). Additionally, it is found that with the increase in the competition within the health care industry the overall efficiency of the institutions that provides the services to the patients can get improved in the more effective and efficient manner. Furthermore, the researcher found that the health care industry is one of the fastest growing industries in the recent period of time. This is the main reason that this industry has been developed with the passage of time. There are various elements that are being discussed in the current study that incorporate the factors that can affect the drivers of the external competitiveness in the more specified manner. On the other side, it has been found that the pay structure should need to be developed with the suggestions of the rele vant authorities so the needs and the demands of the employees that is connected with the loyalty factor of the individuals working at the relevant workplace. Suggested References by Student Mirror, T. ed., 2002.Compensation(Vol. 8). New York: McGraw-Hill. Aguinis, H., 2009.Performance management. Upper Saddle River, NJ: Pearson Prentice Hall. References Lee, T.H., 2014. The strategy that will fix health care. Chang, K.J., Chichernea, D.C. and HassabElnaby, H.R., 2014. On the DuPont analysis in the health care industry.Journal of Accounting and Public Policy,33(1), pp.83-103. Lee, T.H., 2014. The strategy that will fix health care. Markovi?, S., Lon?ari?, D. and Lon?ari?, D., 2014. Service quality and customer satisfaction in the health care industry-towards health tourism market.Tourism and Hospitality Management,20(2), pp.155-170. Chassin, M.R. and Loeb, J.M., 2013. High?reliability health care: getting there from here.Milbank Quarterly,91(3), pp.459-490. Chen, G.C., 2015. The Challenges of Sustainable Development for the Health-Care Industry: An Examination from the Perspectives of Biomedical Enterprises. InSustainable Development for the Healthcare Industry(pp. 133-145). Springer International Publishing. Berkowitz, E.N., 2016.Essentials of health care marketing. Jones Bartlett Publishers. Borkowski, N., 2015.Organizational behavior in health care. Jones Bartlett Publishers. Erickson, S., Lukes, Z. and Weber, M., 2014. Using Communication Theory to Analyze Corporate Reporting Strategies: A Study of the Health Care Industry.Academy of Accounting and Financial Studies Journal,18(4), p.4. Biehl, J. and Petryna, A. eds., 2013.When people come first: critical studies in global health. Princeton University Press.