("Addressing Regulatory Compliance in Health Care," 2006)
Any required organizational change management strategies that would enhance successful implementation
To advance the implementation of this strategy, two different management principals must be embraced to include: the process orientated and people centered approaches. The process orientated approach is when you are examining an organization's procedures for: delivering the final product and services to customers. The people centered approach is when you looking at: how the attitudes, ideas and behavior of the staff will have an impact upon the company. These two elements are important, because they will help to improve the strategy by: addressing how the current policies and the action of the staff have created compliance issues. ("Types of Organizational Change," 2011)
Key success factors, budget, and forecasted financials, including a break-even chart
The success factors for the strategy will depend upon meeting certain goals to include: ensuring that everyone is following different procedures, examining the impact on the company's profit margins and analyzing how productivity can be improved (while maintaining the new compliance policy). To implement this kind of strategy, means that the budget will have to take into account increased amounts of time. This more than likely would cost in the range of: $2 million to $5 million dollars. Given the fact that the company is earning a net income of $1.72 billion a year, means that this strategy will not be a large expense. ("Aetna," 2011) as a result, the break event point can be covered within one to two days of the total net income for Aetna. Where, the company is earning approximately $4.7 million per day in net income. The below chart illustrates the average daily income and the maximum costs for this program.
What this shows, is that the breakeven point...
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