LA1: Five most important concepts or theories
General environment (Week LA): When shopping for a vacation house, for instance, I would need to check the location of the house: the population density of the immediately surrounding areas, its proximity to a commercial area within a short drive, and similar factors that makes my short vacation comfortable. Of course, I will have a certified building inspector review the structural aspect of the house as well as the water and heating systems.
Resource-based theory (Week 3 LA): When planning for an extended trip to Europe and Asia, I will be checking first the available time I have, how much I can spare for this long-anticipated travel? I will also check if I have set aside enough money to bring in the trip in cash, or would a debit or credit card be more useful to cut on cash expense? If I want my best friend to come with me, would he or she be available during the period I am? Which cities would I be visiting? Are these cities safe for travelers?
Cost leadership strategy (Week 4 LA): I usually prefer products that are cost leaders as it cut down my expenses. So when I shop for cold remedies, food supplements, detergents, and other home supplies, I often go for low-priced products of satisfactory quality. (The Saylor Foundation [Saylor], 2014 [c8]).
Offshoring/outsourcing ethical vs. unethical (Week 5 LA): With most of jobs normally performed by accountants and computer programmers are now being offsourced in Asia, I would advise people behind my generation to stay away from these college courses as they may find work in these professions getting rarer each year (Saylor, 2014 [c7; c10]; Mintz, 2004). That means that competition among those who have already graduated in these programs will be much stiffer than before as decrease in job positions available continue.
Division of labor (Week 6 LA): At home, we practice division of labor. My mother do the regular grocery shopping, my father takes care of the manual fixing in our heating and water system, a sister helped in doing the laundry, while I much of the cooking when my mom is busy.
LA2: J&J Strategic planning methodology and manifestations
The overall strategic planning methodology for leading provider of physician billing services AdvantEdge Healthcare Solutions (AHS) begins with its corporate Vision: “Enable Healthcare Providers to Thrive!” (AdvantEdge Healthcare Solutions [AHS], 2014). It has expanded its services to five regions in the United States: Western, Midwest, New England, Southeast, and Mid-Atlantic.
The corporate Objectives followed, which include: “more money, faster; information anytime, anywhere; regulatory compliance, built-in, and ClientFirst service” (AHS, 2014).
Backing these Objectives are six core values quality, innovation, integrity, communication, excellence, and teamwork. Quality directly connects with Innovation. Quality acts as the offshoot value for Integrity and Communication as Innovation, the outgrowth value of Excellence and Teamwork (AHS, 2014).
Information technology forms as the critical bedrock of its objectives, driving innovation in its medical billing technology and medical billing expertise, which resulted from teamwork and operational excellence (AHS, 2014). Service quality stemmed from business integrity and excellent communication platform.
The Company continued to improve on its own billing technology. At the centerpiece of this innovation is the Virtual Manager software (AHS, 2014).
“More money, faster” becomes reality as Virtual Manager enabled reimbursement money to flow faster to clients resulting in consistent net collections of “mid to high 90’s and Days in A/R in low thirties” (AHS, 2014). Day-to-day billing is now possible for physician billing. It has developed an array of software for various solutions purposes: billing, performance, service, coding, reporting and dashboards, compliance, consulting, and practice management. The Physician specialties alone are highly specialized and focused (anesthesia, radiology, pathology, emergency medicine, hospitalist, and neonatology) as well as multi-specialized.
“Information anytime, anywhere” happened through the InfoEdge dashboard, which ensured that current information easily available to the clients (AHS, 2014). Through the mobile ready QualityEdge AQI app, physicians can now easily capture and enter data without paper notes or use of an EMR.
“Regulatory compliance, built in” function seamlessly, with updates on payer and government rules and regulations available as they come up the pipe, supported by a team of CPC-certified professional coders (AHS, 2014). Updates on procedures and changes in diagnosis code are readily accessible.
“ClientFirst service” puts the clients’ interests on top through more revenue and reduced A/R, collecting every dollar the Clients deserve to collect (AHS, 2014). Even clients cannot keep up with the fast pace of advancing technology, the Company keeps up with it for them. Through the InfoEdge dashboard, the Clients have access to information they need.
References
AdvantEdge. (2014). AdvantEdge at a glance. Retrieved (on 19 November) from:
http://ahsrcm.com/advantedge/summary/
Grant, R.M. (1991). The resource-based theory of competitive advantage: Implications for
strategy formulation. California Management Review, 114-135. Retrieved from: http://www.skynet.ie/~karen/Articles/Grant1_NB.pdf
Mintz, S.M. (2004, August 6). The ethical problems of outsource. The Union Tribune-San Diego.
Retrieved from: http://www.utsandiego.com/uniontrib/20040806/news_lz1e6mintz.html
The Saylor Foundation. (2014). Chapter 7: Competing in international markets. [Reading
material]
The Saylor Foundation. (2014). Chapter 8: Selecting corporate-level strategies. [Reading
material]
The Saylor Foundation. (2014). Chapter 10: Leading an ethical organization: Corporate
governance, corporate ethics, and social responsibility. [Reading material]
