Healthcare In the United States: Vanguard Health Care Fund

Healthcare in the United States

Healthcare is one of the key issues of both governmental and private entities in the United States. As a result, businesses in the industry are becoming increasingly specialized in the delivery of public services, such as focusing on specific supplementary services or nursing intervention. Vanguard Health Care Systems, for example, was founded in 1997 and has its headquarters in Nashville, Tennessee. Vanguard has a health-for-life philosophy that attracts highly skilled nurses, who in turn improve the quality of services delivered to patients. Through patient-centered long-term care such as in acute setting, the hospital has grown significantly over time to include more than 17 hospitals in four of the ten largest cities across the US. They include Phoenix, Boston, Illinois and Massachusetts (Vanguardhc.com, 2017. Also, the organization employs more than 22,000 nurses, educators, and administrators, who are highly trained and skilled (Weisshospital.com, 2010). In addition to its localized health care plans, the hospital has insurance plans such a Medicaid where the number exceeds 176000, and is growing (Vanguardhc.com, 2017. Moreover, the hospital has revenue of more than $3.2 billion where it gives charity over $100million and accounts for $300 million of uncompensated care (Weisshospital.com, 2010). In light of this, the company is best positioned to improve and respond to healthcare needs of patients in other regions all over the US due to its strategies of high-quality services, financial strength, and commitment to its culture and values. The following is a strategic plan for addressing health care needs by vanguard in the next decade.

Strategic Plan

Network Growth

In 20 years since its start, the hospital services company, Vanguard has grown the number of hospitals to more than 17 in various cities of the four states (Tennessee, Massachusetts, Illinois, and Boston) (Weisshospital.com, 2010). Revenue growths have sparked the increase in the number of patients under the case of their facilities. The quality of service through the recruitment of highly skilled nurses, administrators, and educators contributes significantly to reaching out to the community for various interventions, as well as their service delivery and care while admitted to the institution. As a result, the brand has received acceptability by the community necessitating it to grow beyond the borders of Tennessee to other states. Currently, Vanguard has entered into a non-binding letter of approval to pen more hospitals in Detroit after the acquisition of Detroit Medical Centre (Weisshospital.com, 2010). The strategy of merger and acquisitions, as well as strategic alliances with other healthcare providers in various states, therefore, has been significant in its growth (Weisshospital.com, 2010). In the next decade, the organization is committed to increasing the number of patients it serves, as well as the presence in other regions around the United States through partnering with other facilities. After acquisitions, and introduction to a new culture, priority of quality care to patients through highly competent nurses as well as the community nursing interventions is critical to its success and achievement of its objectives.

Nurse Staffing

Currently, Vanguard Health systems employ more than 22000 professionals and highly skilled individuals in the job roles of educators, administrators, and nurses (Weisshospital.com, 2010). The increasing health needs and an introduction of the Obama care act opened a new opportunity for the healthcare organizations. The rationale is that today, the number of people seeking medical interventions in various hospitals has significantly increased due to affordability. Therefore, the ratio between the nurses to the patients in vanguard hospitals or partners indicates an imbalance due to a shortage of nurses (Weisshospital.com, 2010). Therefore, it is a commitment to attend efficiently to individual needs of patients, ensure employee turnover through conducive working conditions and incentives, and commitment to the values and culture of the organization of priority to health care, the firm seeks to employ more highly skilled nurses, educators, and administrators. The three groups coordinate together united by the values to discharge their duties (Weisshospital.com, 2010). The nurses are responsible for the immediate, long-term care, as well as develop interventions appropriate for the patients. The educators are responsible for creating awareness to the patients in the community in regards to health concerns and needs. The feedback is critical to vanguard hospital for planning purposes of health programs. Lastly, through the capable leadership of the administrators, the company can organize and coordinate various functions including resource allocation and monitoring of standards to position it as a leading healthcare provider in multiple regions.

Resource Management

There are three primary resources for vanguard health systems which include the channeling of the revenues to its expansion, shareholders, and the vanguard healthcare fund shares (VGHCSX). The revenues of the company grow each period with the fiscal year ending 2010 recording a high of $3.2 billion (Weisshospital.com, 2010). After sharing dividends and operational costs, the profits are channeled into the strategic objective of building high quality, patient-centered, career delivery networks across the US. Further, as of the year 2004, the entry of Blackstone partners made it majority shareholders while vanguard health systems and Morgan Stanley Capital Partners together owned 30% (Weisshospital.com, 2010). The management of the financial resources is through the hospital administration which reports the returns to the shareholders, and its strategies for the growth of its network. Lastly, the VGHCSX contributes significantly to the acquisition and collaboration with other firms such as pharmaceutical companies, research, and development, as well as other hospitals in various parts within the US (“Vanguard Health Care Fund Overview,” 2017). Therefore, in the next decade, the company is positioned to invest more in increasing its revenue growth as well as equity and expanding the number of hospitals in new markets hence reaching more patients.

Patient Satisfaction

One of the core values of vanguard health systems is it quality in providing care to patients. In addition to hiring highly trained and competent skilled staff, the culture of the hospital adds to the adherence to standards that are patient-centered (Weisshospital.com, 2010). To achieve this, each of the section including educators, administrators, and nurses coordinate together to develop interventions that directly respond to individual needs of a patient. Through adequate staff, the process of admission and attendance to a patient in the hospital is not only fast through discharge planners but also enables the patient to receive individualized care hence meeting the needs (Vanguardhc.com, 2017). Lastly, employee incentives lead to job satisfaction increased the rate of performance, and commitment to the organization hence free of health risks that could affect care towards a customer. In this regard, spreading the same values over the next decade, utilization of biomedical technology in the delivery of services, and adequate staffing will increase patient satisfaction hence high retention.

Conclusion

Finally, Vanguard healthcare systems organization that started in 1997 is better positioned today to respond to healthcare needs in the next decade. The rationale is that it has the large base of resources uses high skilled labor, expanding its network and culture, as well as giving priority to the patient. Various strategies such as incentives to employees, adequate staffing, and unity through its culture make Vanguard an outstanding and fast growing service provider. In the next decade, therefore, there is an expectation of more hospitals under vanguard, an increase of revenue, more patients, and community/patient-centered interventions which identifies the brands with health needs.

References

Vanguard Health Care Fund Overview. (2017). Retrieved 21 October 2017, from https://money.usnews.com/funds/mutual-funds/health/vanguard-health-care-fund/vghcx

Vanguardhc.com. (2017). Vanguard Healthcare Services - Physicians and Discharge Planners.Vanguardhc.com. Retrieved 21 October 2017, from http://www.vanguardhc.com/referral_sources/

weisshospital.com. (2010). About Vanguard. Retrieved 21 October 2017, from https://www.weisshospital.com/Files/Documents/pdf/VanguardSept2010.pdf