Introduction
This is a home care agency which is mainly devoted towards enhancing the quality of life for their clients and at the same time provides a feasible option to living in a nursing home a long-term care facility. The company is also dedicated towards being an eminent employer by offering competitive returns and good benefits that attracts highly qualified staff. The company has been in business for more than 30 years and has been very proficient in the quality of services that they offer.
Chief Operating Officer/President
The company also has a president who also acts as the Chief operating officer for the company. Charles M. Schneider who is aged 54 was appointed as the president and the Chief operating officer for the company in early January. The Chief Operating Officer is charged with the responsibility of overseeing the day-to-day operations of the company, sales, managing the information systems of the company and human claims. Before his appointment, Schneider was the president and the pioneer of Concordant Group of Companies which is a consulting firm that deals mainly with healthcare provisions. He has worked at Health Source and became the Executive Vice President and the Chief Operating officer of the company.
Chief Executive Officer
Dr. Norman C. Payson is the chairman and the Chief executive officer of the company. The company’s CEO oversees the financial operations of the company, the legal activities of the company and the formulation of policies for the company. Payson is a graduate of the Massachusetts Institute of Technology. He received his Doctor of Medicine at Dartmouth Medical School and then practiced as a primary care physician in America. After working for several medical care institutions, he helped in the formation and the turnaround of the Oxford Healthcare which later on expanded to more than 15 states in the United States of America. In November 2005, he was selected as the Chairman of the Board of Concentra whereby he was charged with the responsibility of overseeing the strategic direction and the general governance of the company. He is also a member of the board of the Mailman School of Public Health. He is very proficient and possesses excellent managerial skills that have helped him bring positive change to the Oxford Healthcare.
Chief Financial officer
Kurt B. Thompson was appointed the company’s Executive Vice President and the Chief Financial officer of the company in 2000. The main responsibilities of the Chief Financial officer for the company are to report directly to the Chief Executive officer on all financial matters. The officer will also be charged with the responsibilities of overseeing all the financial operations of the company including the investor relations, financial planning, taxation, risk management and underwriting treasury. Prior to this appointment, he served as the vice president of Finance for the company. He had previously served as the financial executive with Kmart Corporation in Michigan. He rose through the ranks while serving in those positions at various capacities. When he joined Oxford Healthcare, he came with a wealth of knowledge and experience and has helped to revamp the company and improve the general operations of the company hence making the systems more efficient.
Current Company Performance
The net income for the company has more than doubled in last quarter. This has been attributed to the increase in the enrollment in its managed healthcare plans. The company has also kept premiums ahead of the medical costs and its shares have also fallen considerably. Oxford Healthcare has an annual revenue of about $ 71,000 and this is likely to increase in the near future as the company is improving on the quality of services that it offers to its customers. The company mainly offers; Home Nurse Aid Services, Home Care Registered Nurse Services, Home Health Nurse and long term Care nurse services (Adopted from the Company’s Annual report 2011). However, there are new products and services that have been launched by the company. Some of the new products that were recently launched that have helped in boosting the financial performance of the company include: Legacy Community Health Services, Swedish Health Services, Northwestern Health Services and Children’s Special Health Services (Adopted from the Company’s Annual report 2011). These products cover quite a number of clients and the customers are able to choose from a variety of packages/plans available. This has helped the company to widen its scope and improve the number of clients that it serves hence boosting its business.
Business risk
In every business setup, there are risks that are involved. Oxford Healthcare is also experiencing some risks in the course of its operations that can literally jeopardize its operations. The company faces four major types of risks which include:
i. Strategic risks: In this category, there are competitors who offer stiff competition to the general operations of the company. The company for instance, faces stiff competition from other healthcare providers like: Aetna Inc, Blue Cross and the Blue Shield Association and the American Group Corporation.
ii. Compliance risks: The Company has taken time to comply with the new regulations in the health sector that were introduced by the government. In some cases, the legislations almost paralyzed the operations of the company and significantly reduced the business operations of the company.
iii. Financial risk: Just like any other business establishment, there have been some cases of customers failing to pay for the services rendered. The inflation on the other hand has impacted greatly the operations of the company due to high interest rates charged by the banks whenever a loan is offered thereby hindering the expansion of the business.
iv. Operational risk: High operational costs have also been one of the major risks for the general operations of the company.
The company has posed a good financial performance especially in the last quarter whereby the net earnings of the company almost doubled. This has been attributed to the improved services being offered by the company and the elaborate marketing strategies being conducted by the marketing team. The share price for the company has also increased tremendously and this marks a positive improvement in the general value of the company. Due to the improvement of the services being offered by the company and the improvement in the share value of the company, it is therefore a good opportunity for investment and I would highly recommend investments in this company as it shows a predictable tend of growth that is worth investing in.
Work Cited List
Oxford HealthCare Annual Report 2011
Alexander, Carol and Sheedy, Elizabeth. The Professional Risk Managers' Handbook: A Comprehensive Guide to Current Theory and Best Practices. PRMIA Publications. 2004
Altemeyer, Lynn. An Assessment of Texas State Government: Implementation of Enterprise Risk Management, Applied Research Project. Texas State University. 2008
