Demand Evaluation
The selected service line for Trinity community hospital will be an orthopedic center, where the evaluation showed that the overall demand for such a service would be the highest in the near future. The given center was selected by primarily evaluating and comparing the expected demand for other types of centers, which are cancer center and a cardiovascular center. Thus, it should be noted that launching and opening a new orthopedic service line will greatly boost the hospital’s future ability to serve the marker area or community.
Analysis of Current International Healthcare Trends
It is important to note that the current international orthopedic healthcare trends revolve around the process of minimal invasiveness. One of such trends includes a bendable medical screw, which can be highly useful in conjunction with a continuum manipulator in order to fixate the bone fragments by drilling curved tunnels (Alambeigi et al., 2019). Such a novel approach is necessary to provide clinicians with more levels of freedom in regards to the selection process of a drill entry point (Alambeigi et al., 2019). Another international orthopedic healthcare trend, which revolves around a notion of minimal invasive surgery, is the use of orthopedic surgical robots. Robot-assisted surgeries and general orthopedics surgical robots market is expected to grow up to 47% in the near future (“Top 3 trends impacting the global orthopedic surgical robots market through 2021: Technavio,” 2017).
Existing Programs
The growth and profitability section sets objectives, such as having 2100 surgical cases, 6500 physical therapy visits, and $2171500 margins (Briscoe, n.d.). Staff achievement-related outcomes are orthopedic staff retention rate higher than 90% and orthopedic nursing staff certification higher than 75% (Briscoe, n.d.).
In regards to service excellence, the goals are based on reaching the physician satisfaction larger than 90th percentile with the likelihood of recommending percentile equal to or bigger than 90th. Lastly, the quality and safety segment strives to achieve pre- and post-procedure class attendance to be around 75%, where the CMS orthopedic indicator set higher than 90th percentile (Briscoe, n.d.).
Financial Feasibility
In addition, the gross charges per physical therapy treatment are equal to $275, and gross charges per orthopedic surgical case are equal to $25000 (Mike, n.d.). The demand estimates from the community health needs assessment show that the number of orthopedic cases will increase from 11800 to 17338 (Trinity Community Hospital., n.d.a). In other words, 5538 additional cases will occur in the near future annually, which means that in the fifth year, the gain in revenue will be around $138450000.
Marketing
In order to secure referral services, it is important to properly target and market to physicians. The key strategy will revolve around building a certain form of brand image and separate identity from Trinity hospital. It will be useful for non-Trinity-based physicians since in-Trinity ones will be easily accessible due to the CEO’s position and influence. The marketing will attract referrals by posing as a high-tech advanced service line, where automation, robotics, and novel approaches are being integrated. For example, in order to adhere to the current international orthopedic healthcare trends, the center will implement robots, which will assist the medical experts during their surgeries.