Sample MBA622 Comprehensive Healthcare Strategies

MBA622 Comprehensive Healthcare Strategies Assignment Sample

Assignment Brief

Assessment Title: Industry Sector Analysis
Length: 1500 words (+/- allowable range)
Weighting: 25%
Total Marks: 100
Submission: Online
Due Date: Week 5

Your task

Students are to write a 1500-word report that analyses an industry MBA622 - Comprehensive Healthcare

Strategies

segment of the Australian Healthcare sector based on the below selection of sectors.

Assessment Description.

This assessment provides students with an opportunity to research and analyses a particular healthcare segment to gain an initial insight into the opportunities and challenges that currently exist for organizations that deliver healthcare services in Australia in that segment. Students will present that research and analysis in the form of a formal report which requires students to adhere to a report structure including an Executive

Summary.

Assessment Instructions for assignment help

Students are to investigate an industry segment of the Australian healthcare sector and examine and evaluate its model of operations and growth over the last ten years. Recommended industry segments include:

• General public hospitals
• General practices
• Private hospitals
• Specialist medical services
• Pathology or diagnostic imaging services
• Dentistry or other related services
• Oncology services
• Mental health services
• Allied healthcare services
• Pharmaceutical industry
• Aged care

However, students are encouraged to determine the scope of their analysis in consultation with their lecturer. Assessments 2 and 3 will build on the initial analysis undertaken in Assessment 1.

The industry analysis must be in report form and should present appropriate criteria or business analysis tools as a framework in which to identify and analyses the challenges and opportunities confronting the segment. It should draw from a range of government and academic sources, as well as industry reports. It should cover:

• A definition of the industry, outlining its main activities

• An overview of the competitive landscape, identifying and describing major competitors or organizations within the segment and their business models

• Industry trends, presenting an overview of operating conditions and factors influencing operating conditions

• Ethical issues faced within the industry

Your analysis should focus on the broader environmental factors influencing operations within the sector. The report may also include charts or diagrams, which are not included in the word count. The findings presented in this report must be based on scholarly and peer-reviewed sources of information that were published no longer than 5 years ago and relevant to the field of strategic healthcare. These sources must be presented in the report in the form of in-text citations and a reference list adhering with Kaplan Harvard Referencing Style. Wikipedia and other ‘popular’ sites are not to be used.

Assessment Submission

This file must be submitted as a ‘Word’ document to avoid any technical issues that may occur from incorrect file format upload. Uploaded files with a virus will not be considered as a legitimate submission. MyKBS will notify you if there is an issue with the submitted file. In this case, you must contact your workshop facilitator via email and provide a brief description of the problem and a screenshot of the MyKBS error message. You are also encouraged to submit your work well before the deadline to avoid any possible delay involving the Turnitin similarity report or any other technical difficulties.
Late assignment submission penalties

Penalties will be imposed on late assignment submissions in accordance with Kaplan Business School “late assignment submission penalties” policy.

 Solution

 Introduction

The segment selected is aged care services. The objective is to provide an analysis of the segment and provide the ethical issues. Aged care offers help to elderly inhabitants to facilitate them with daily livelihood and other requirements. The aged care business offers older Australians a variety of diverse services, permitting them to access suitable stages of care when and where they need it as they grow old (Henderson et al., 2017). In conveying aged care facilities to the Australian society, the subdivision is both a fundamental sponsor of the comfort and self-respect of older Australians and a significant supplier to the Australian market. It can comprise aid with daily living, health care, lodging and apparatus such as walking structures or slopes.

Health industry segment

The Main Activities of aged care services comprise offering housing room for older people in standard housing care services and offering to house for aged citizens in a retirement community (health.gov.au, 2021).

Government-funded aged care facilities are accessible to qualified citizens. Government-funded aged care facilities comprise in-home help (care in residence), housing care in aged care (nursing) homes, and temporary care for instance respite care. In-house aged care offers support to help the elderly stay free for as long as achievable. It can assist with things such as personal care, transportation, foodstuff, shopping, housework, physio, communal actions, and adjustments to the care home. Housing care in aged care is for elderly citizens who can no longer reside at residence and require continuing aid with daily errands or health care. Temporary care can assist to develop comfort and autonomy or retrieving on their feet after an infirmary stay. It can moreover give the elderly or their carer a break. Aged people can get temporary facilities in their house, an aged care residence or in society (health.gov.au, 2021).

The Australian Government finances:

• After-hospital or changeover care – help for up to twelve weeks to assist them to get well after a wait in the infirmary
• Temporary curative care – support till eight weeks to assist them to enhance their health and sovereignty
• Respite care – help for some hours, days or more to give the elderly or their carer a break (health.gov.au, 2021).

The corporations having the major market share in the Aged Care facilities in Australia comprise Allity Aged Care, Arcare Aged Care, BlueCross and many more.

Ality

Allity is a net of forty-four homes situated throughout Queensland, NSW, Victoria and South Australia with a communal familiarity of their administration that makes it one of the mainly appreciated and reputable suppliers in the Australian aged care business.

Arcare

Arcare is currently one of the mainly pioneering aged care sources in Australia. Their initial aged care home was constructed in 1997 and since then they have developed to thirty-six all through Victoria, Queensland as well as New South Wales. Each house is completely credited by the Australian Aged Care superiority group with facilities counting 24-hour treatment, getting old in place, enduring care, responsive (dementia) care and relief care (healthcare channel. co, 2021).

BlueCross

A foremost private aged care source, BlueCross has been offering a broad variety of supple and receptive aged care facilities throughout the city and local Victoria since 1993. From residential care to in-house support and reprieve care, they are dedicated to serving elderly people subsist the best life likely daily. At present, the company runs thirty-four aged care homes in Victoria, sustaining over twenty-six hundred residents and more than a thousand patrons residing in their homes (Healthcare channel. co, 2021).

Bupa

Bupa is a health and care business dedicated to serving the clientele to survive longer, better, better-off lives. It presents a wide variety of services, counting aged care and retreat, dental, visual, health indemnity, and social safety plans, to progress the wellbeing of all Australians.

Bupa Australia and New Zealand is a division of the Bupa Group. It is a global healthcare corporation. It invests earnings into offering further and improved healthcare for the advantage of present and upcoming clientele around the globe (healthcare channel. co, 2021).

Analytical Tools Application

Porter’s five forces

Threat of entry

New entrants in aged care services brings novelty, new ways of doing things and put force on aged care by lower cost strategy. Increased threat demands for barrier in business for safeguarding the competitive edge of business.

Bargaining Power of Suppliers

All most all the corporations in aged care services purchase their raw material like medicine, mask and other supply from several suppliers. Suppliers in central position can reduce the margins of aged care (health.gov.au, 2021).

Bargaining Power of Buyers

Buyers are frequently a demanding group. They want to pay money for the best contributions accessible by paying the least amount price as achievable. This put pressure on aged care services in the long run (Walker and Paliadelis, 2016).

Threat of Substitute

When a new invention or service meets a comparable purchaser needs in dissimilar ways, industry abundance suffers. This is the case with aged care companies and it increases the need of understanding customer demands (Hugo et al., 2018)..

Rivalry

If the opposition among the present players in a business is strong then it will coerce down prices and reduce the general profitability of the business. Aged care services function in a very competitive sector. Increased rivalry can decrease the profitability and hamper the business sustainability in the long run.

Industry factors influencing operating conditions

Political

Political factors have an important function in determining the issues that can impact aged care services’ long term productivity in a country. An aged care service operates in Health Care Equipment & Services in many countries and pictures itself to diverse kinds of political environment and political system risks. Government spending can impact the tax policies of aged care and consumers can get advantage of the subsidies.

Economic

The Macro environment factors like – inflation rate, savings rate, interest rate, foreign exchange rate and economic cycle decide the collective insist and collective investment in a market. Economic factor regulates the spending of consumers, for instance high inflation rate or unemployment will reduce the purchasing power of consumer.

Social

Society’s traditions and way of doing things impact the traditions of a business in an environment. Social understanding assists the healthcare professional in understanding the root cause and the expected behavior towards certain group. For instance, people are shifting towards natural cures and understanding the societal demands can assist in the treatment.

Technological

Technology is fast disrupting various industries across the board. Over the last 5 years the industry has been transforming really fast, adopting digital technology for improving the services to the elderly. Digital tools assist in tracking the health and taking appointments from home which makes the process faster. Technology has also created different devices like hearing aid which increases the performance of aged care services.

Environmental

Aged care services in Australia must check for the climate, waste management and laws regarding the environmental damage. Environmental standards must be complied for operating otherwise heavy penalty can be faced by business. It will lead to loss and defamation of aged care name.

Legal

Copyrights, discrimination law, consumer protection and other laws must be applied as not abiding the rules can damage the reputation and profitability of the firm.

External Industry Challenges, Internal Weakness, and New Trends

The initial main trend experiencing the Australian aged care segment revisits to demographics again, and that is the irrefutable mass of the five million well-built baby boomer group who are currently incoming their retreat years in large figures (Dyer et al., 2020). Actually with approximately one-third of Australia's baby boomers by now past the authorized withdrawal age of sixty-five and about eight per cent of all Australians of sixty-five years and over existing in housing aged care, insist for novel aged care beds will increase by an expected seventy-six thousand places in the subsequent five years (japara.com.au, 2021).

Aged care in Australia is at present a hybrid arrangement, with the federal government partially casing the expenses of residential care lodging for aged and immobilized people who go by a string of eligibility experiments through what is identified as the Aged Care Funding Instrument (ACFI). Since 2016 entire federal government expenditure on aged care and correlated facilities was seventeen billion dollars for about 270,000 citizens (Harrison et al., 2019). With the figure of people in aged care likely to develop exponentially in impending years, the federal administration will locate it ever more hard to support the present stage of care it offers, meaning additional market-based advances will be required. Prosperous Australians with important resources like extremely-valued homes will be likely to shell out the superior out-of-pocket bill for aged care lodging, to finance those who have slight or no resources and thus little means to finance their treatment (Henderson et al., 2016).

Ethical issues

Care for the aged looks like healthcare in some way so that the recognizable values of medicinal ethics – admiration for autonomy, beneficence, and no maleficence - would moreover relate to principles in aged care.
There is though some major dissimilarity. The values of medical ethics have appeared mainly in the situation of the healthcare action of patients. For instance, the concentration of admiration for autonomy is on the capability and the liberty of patients to make choices regarding their health care. There are instances when cohorts or family associates might be concerned about those choices; however, the moral focus has been on the patient.

One difference to the conservative centre on autonomy is the additional acknowledgement of respect for self-respect. Related outlines of individual stress can be observed in the growth of planned nationwide codes of ethics for housing aged care.

Conclusion

Australia’s residents are getting older, because of longer life suspense and low fertility rates. The impact of aged population is a boost in the number of Australians wanting help in aged care. In answer, more private company providers are incoming the market, in rivalry with the government-funded as well as not-for-profit providers that have traditionally conquered.

Reference list

Dyer, S.M., Valeri, M., Arora, N., Tilden, D. and Crotty, M., 2020. Is Australia over?reliant on residential aged care to support our older population? The Medical Journal of Australia, 213(4), p.156. https://www.mja.com.au/system/files/issues/213_04/mja250670.pdf

Harrison, S.L., Dyer, S.M., Milte, R., Liu, E., Gnanamanickam, E.S. and Crotty, M., 2019. Alternative staffing structures in a clustered domestic model of residential aged care in Australia. Australasian journal on ageing, 38, pp.68-74. https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/ajag.12674

Health.gov.au, (2021), About aged care, available at: https://www.health.gov.au/health-topics/aged-care/about-aged-care, accessed on: 13.12. 2021

Health.gov.au, (2021), What is aged care?, available at: https://www.health.gov.au/health-topics/aged-care/about-aged-care/what-is-aged-care, accessed on: 13.12. 2021

Healthcarechannel.co, (2021), 10 Biggest Aged Care Providers in Australia, available at: https://healthcarechannel.co/10-biggest-aged-care-providers-in-australia/, accessed on: 13.12. 2021

Henderson, J., Willis, E., Xiao, L. and Blackman, I., 2017. Missed care in residential aged care in Australia: an exploratory study. Collegian, 24(5), pp.411-416. https://www.academia.edu/download/57709753/Missed_care_in_residential_aged_care_in_Australia_title.pdf

Henderson, J., Willis, E., Xiao, L., Toffoli, L. and Verrall, C., 2016. Nurses' perceptions of the impact of the aged care reform on services for residents in multi?purpose services and residential aged care facilities in rural Australia. Australasian journal on ageing, 35(4), pp.E18-E23. https://agedcare.royalcommission.gov.au/system/files/2020-06/RCD.9999.0256.0011.pdf

Hugo, C., Isenring, E., Sinclair, D. and Agarwal, E., 2018. What does it cost to feed aged care residents in Australia?. Nutrition & Dietetics, 75(1), pp.6-10. https://onlinelibrary.wiley.com/doi/pdf/10.1111/1747-0080.12368

Japara.com.au, (2021), Future Trends in Australian Aged Care, available at: https://japara.com.au/news/future-trends-in-australian-aged-care/, accessed on: 13.12. 2021

Walker, H. and Paliadelis, P., 2016. Older peoples’ experiences of living in a residential aged care facility in Australia. Australasian journal on ageing, 35(3), pp. E6-E10. https://meaningfulcarematters.com/wp-content/uploads/2021/02/MCM_SDL_MEANINGFUL-WORDS_02_Older-peoples-experiences-of-living-in-a-residential-aged-care-facility-in-Australia.pdf