Thephrase “Nomargin, no mission and No mission, no soul”meansthat there is no profit in the business when there is no incentive toaccompany it. Each company needs to control costs if it hopes to makea better profit margin. A profit provides a high reward to employees,stakeholders as well as the owners. Making wise budgets enables us tocontrol expenses, not only saves time and money, but ensures thesuccess of the business. The purpose of the paper is to evaluate howhealth organizations use the phrase in their operations.
Healthorganizations have essential relationships with stakeholders who aretheir customers, employees such as physicians, nurses, and finallythe shareholders who consist of board members or the community.Physicians are tasked with prescribing care, nurses providesupportive care while patients pay for the services (Brotherton, Kaoand Crigger, 2016, p. 1041). If any of the people in this cycle isdissatisfied with the services they are receiving, then there will bea reduction of quality care. It is important for a healthorganization to measure the satisfaction of its workers if it hopesto succeed. When the health sector is performing poorly as a resultof not making informed decisions, it means that strategies arefailing and money is not being spent wisely. Frustrations anddisappointments from clinicians are created when there is no clearfocus, and the organization fails to achieve its goals. A blurredmission and vision affects the morale of the staff, and a crisismentality begins to develop. Eventually, the margin falls, and themission is threatened.
Financialperformance can be improved if the number of workers are reducedthrough termination. However, if the decrease in personnel causes adecline in quality care, then it is the internal business thatsuffers. It is essential that a company develops strategies thatprovide a balance in all business perspectives to ensure its success.It can focus on increasing revenue as staff reduction is a crisisthat needs to be managed intelligently. It can achieve this byensuring there is proper registration of patients, timely claimprocessing, accurate billing, coding, and documentation. No matterhow noble an organization’s mission is, it requires money tosucceed, clear goals and accountability from all involved. Physiciansdetermine the duration that admitted patients would take in thehospital, additionally they prescribe tests and medications, elementswhich have an impact on the costs. They also accept referrals whichcontribute to increased revenues. Nurses are required to providecontinuous quality care until a patient recovers. They also representa significant portion of the labor cost of the hospital. To improvefinancial performance, clinicians must work in close collaborationwith administrators by practicing sound business principles whileusing clinical insight.
However,there are cases of hospitals that have turned patients away due totheir inability to afford medical care. They look at the money thatis lost in awarding free treatment, nursing and prescribing drugs andevaluate how the business will be affected in the long run. Differenthealth experiences by customers such as the inability to be treateddue to bed occupancy, poor resource management, and insufficientfinancial support, frequently determine the viability of any healthorganization (Belciug and Gorunescu, 2015, p. 264). There is the needto develop a mechanism in such instances to deliver quality healthcare and ensure the survival of the hospital. The health sector hasbeen affected by physicians who focus on commercializing theirprofession at the expense of the patients’ health. The medical codeof ethics provides a guideline for clinicians on the values that needto be attained in medical practice. The code helps physicians to meetethical challenges in the profession while practicing high standardsof professionalism (Brotherton, Kao and Crigger, 2016, p. 1041).
Modernhealth organizations require strong fiscal management to fulfill itsmission. It is imperative that it utilizes various strategies such asmaintaining a strong internal control, having timely and accuratefinancial reporting and having sound policies that guide employees.An organization needs to identify their key drivers of performanceand how to optimize them. There is equally the need to have aplatform to communicate mission information clearly and rapidly.
Inconclusion, the phrase is relevant to health organizations as theystruggle to find a balance between providing quality health care andmaking profits in the competitive world. The hospital hopes tosucceed in its mission and must sacrifice to make ends meet.Integrity should be practiced in the health sector if a person hopesto salvage his soul.
Belciug,S., & Gorunescu, F. (2015). Improving hospital bed occupancy andresource utilization through queuing modeling and evolutionarycomputation. Journalof biomedical informatics, 53,261-269.
Brotherton,S., Kao, A., & Crigger, B. J. (2016). Professing the values ofmedicine: the modernized AMA Code of Medical Ethics. Jama, 316(10),1041-1042.