Introduction
The main goal of a business is to make a profit. However, the goals are different in non-profit organizations. Income for such organizations is used to fund other activities that the organization engages itself in for the benefit of the target population. Therefore, non-profit organizations also need a strategy that can help them increase funding besides donations. Consequently, organizations like Kaiser Permanente run insurance programs from which they collect money to fund the other divisions of the hospital. The focus of the current research will be on The Rochester Regional Health System (RRHS), which is a non-profit healthcare organization.
Summary
RRHS is an integrated network of hospitals that is based in Rochester, New York. The organization was born in 2014 through the merger of what was formerly known as Rochester General and Unity health systems (Rochester Regional, n.d). The units that form the network are ElderONE/PACE, which is a care program for the elderly, outpatient laboratories, rehabilitation programs, and surgical centers, independent and assisted living centers, skilled nursing facilities, hospitals, and physicians (Rochester Regional, n.d). RRHS is the leading provider of healthcare in Western New York and the Finger lakes region (Rochester Regional, n.d). As of 2020, RRHS has 113 companies under its umbrella. Moreover, the company employees approximately 16,000 employees and generates roughly $ 2.19 billion in sales annually (Rochester Regional, n.d).
Discussion of Proposal
As observed earlier, RRHS is a non-profit healthcare organization. Most of the organization’s activities are funded by its subsidiary, the Rochester Health Foundation. Moreover, the organization bills some of its customers for services offered. In 2018, the organization generated revenue of $ 2.19 billion from sales made. However, the funds gathered from the organization’s activities and donations into the foundation were not enough. Consequently, the organization kick-started a campaign to raise over $ 300 million. Even before the goal was achieved, the Coronavirus Pandemic appeared. The virus has caused a strain on healthcare resources as more and more patients are admitted to hospitals sometimes more than the system can handle. Consequently, hospitals have had to use every available resource to respond to the virus. In the coming days, hospitals may not have enough money to continue operating. Consequently, RRHS needs to find ways to boost its income to better its services currently and secure its position in the future. The purpose of the Capstone essay will be to write a consulting plan for RRHS with the desired outcome of increased income.
Strategy and Scope
The Capstone project will focus mainly on the organization’s strategic plan to identify opportunities that the company can leverage and threats that RHS faces. Consequently, the capstone will study the company’s internal and external environments as well as the corporate governance structure of the organization. Finally, the essay will list recommendations that RRHS can utilize to increase its income. In the analysis of RRHS’s environment, the project will leverage models such as the SWOT analysis and Porter’s five forces framework to identify the areas that RRHS ca seek improvement.
For the years that RRHS has been in existence, the company has not had any scandals of a large magnitude. Therefore, the organization has not received widespread coverage. Consequently, it may not be easy to gather information from online newspapers. Nevertheless, I plan to conduct Google searches on health databases as well as blogs and websites to find the required information about RRHS. I will also search the websites of reputable newspapers like the Walls street journal and the New York times to find news and trends not only about RRHS but about the healthcare industry in the US. Data for the project will mainly be obtained via the internet through searches and queries on Google.
One of my strengths is that I am motivating. I have a passion for everything I set out to do, and I am motivated by my work. Motivation is a strength that will come in handy during the project to ensure that I keep going despite the hurdles and that I deliver a quality paper.
Secondly, I have a strong sense of purpose. Having a sense of purpose will keep me grounded, motivate, and focused as I work on my project. The purpose will also equip me with confidence in my work, and I can be able to provide recommendations that can help RRHS. A sense of purpose will also ensure that I don’t lose track of my work and that I stick to set guidelines and deliver my work on time.
In my preliminary research of the project, I noticed that getting the desired information for my project is not easy. However, I am not worried because I have a strength in mindfulness. Through mindfulness, I will be able to manage any stress or frustration that comes from the project, and I can think even in such situations.
While I possess strengths that I can use in my project, there are specific weaknesses that can curtail my progress. One of my weaknesses is my lack of flow. I am not able to be fully immersed in my work, especially because I have a low concentration span, which may affect the flow of my paper and my productivity. Nevertheless, I have made arrangements to work with a group of friends who possess this strength so that I can observe and learn from them.
Another weakness is I have low-risk tolerance and may not be willing to try new things, especially if I am worried they might cause failure. Consequently, I may be stuck using the same methods of research for my paper when there could be a different method that works. As a result, I am training myself to take small risks at a time.
The current proposal sets a context from my research paper and gives a brief background of the company I will be studying. The proposal also describes the goals I hope to achieve with the capstone essay and the action plan I intend to follow to achieve the goals. I intend to leverage knowledge obtained from class as well as data that will be gathered in the research process as some of the ways to achieve my goals with the capstone essay. Moreover, I have outlined how I will leverage my strengths to complete my essay. I am confident that by the end of the essay, I will have demonstrated the desired earning outcomes and developed recommendations that RRHS can use. Consequently, I wish to request for permission to be allowed to move to the actual capstone project.