Vila Health: Marketing Action Plan and Financial Analysis

Refer to the Vila Health: Marketing Action Plan and Financial Analysis multimedia resource to complete this assessment:
Scenario St. Anthony Medical Center’s Labor and Delivery service line is challenged with growing the business using a market pull strategy. To achieve this overarching goal, you will propose a marketing action plan with accompanying proposed costs and benefits.

Additionally, your plan will need to include costs and benefits for each proposed intervention. Your task as the intern is to analyze the financial impact to the organization and make a final recommendation as to whether or not the plan should be implemented. You are expected to provide options for the management team to consider along with a rationale for your final recommendation.

At least one of your options must include how to use social media to decrease costs and increase market reach. Deliverable
•Formulate a new St. Anthony Medical Center Labor and Delivery revised service offering including features, advantages, and benefits to consumers.
•Segment the market of targeted labor and delivery consumers, using a table that matches features and benefits to each consumer segment.
◦Note: Consumer data will be found on the Internet related to the Minneapolis greater metro area (for example, age, culture, and so forth; expectant single teens, culturally diverse groups in the community, mid-career married working women, same sex partners seeking in vitro fertilization, and so forth).

•Create a plan of action comprised of marketing communication channels to reach each customer segment (for example, Web sites, social media, radio, TV, signage, health fairs, events, collaborative partnerships, targeted mailings, free educational offerings, and so forth).
•Explain costs and benefits for each marketing communication channel intervention (refer to Plowman’s cost-benefit analysis tool, linked in Resources). ◦Hint: Remember to identify costs and benefits; Recall that the total cost of the action plan cannot exceed $10,000 per year.
•Make a recommendation as to whether or not the organization should proceed with the proposed interventions.
•Provide rationale that supports your decision process. Additional Requirements

•Written communication: Written communication should be free from errors that detract from the overall message.
•Document Format: The format and structure of your proposal should be consistent with expectations for professionals in health care administration. Use tables to match features and benefits.
•APA formatting: Resources and citations should be formatted according to APA style and formatting guidelines.
•Data Sources: Specific organizational data must be sourced from the Vila Health challenge multimedia. Consumer data must be sourced from the Internet. Each source must be cited appropriately.
•Length: There is no page limit for this assessment.

Vila Health Challenge
Integrating a financial analysis into a marketing action plan is a step that takes the planner beyond mere speculation. Creating a financial analysis means demonstrating the potential impact of interventions in a measurable way so that leadership can make an informed decision.
In this activity, you will conduct a cost benefit analysis as part of your marketing plan recommendation.
Learning Objectives

  • Formulate a revised service offering for St. Anthony Medical Center’s Labor and Delivery unit, including features, advantages, and benefits to consumers.
  • Propose consumer market segments with associated applicable features and benefits for the Labor and Delivery unit.
  • Create a plan of action comprised of marketing communication channels to reach each customer segment.
  • Explain costs and benefits for each marketing communication channel intervention by using the Cost Benefit Analysis tool.

Market Action Plan and Financial Analysis
St. Anthony Medical Center is challenged with growing the business using a market pull strategy. As the health administration intern for St. Anthony Medical Center, your next task is to propose a marketing action plan for the Labor and Delivery service line.
The marketing action plan will include major action items necessary to achieve the desired financial target and the associated costs and benefits for each item. Your marketing action plan will influence leadership’s decision on its overall strategy for the L&D unit.
Email #1
Financial Analysis
From: Carla Neustadt, Vice President of Operations
Hi!
Thank you for your work on the gap analysis. We really appreciate your efforts thus far.
Now it gets interesting! It’s time to take a look at new initiatives in the context of a cost benefit analysis so we can make some good decisions for Labor and Delivery next steps. Attached is the spreadsheet we use at St. Anthony for this purpose.
We have $10,000 in the coming year’s budget for these new Labor and Delivery initiatives. This includes previous marketing channels as well as new ones we’re considering. For both existing or new, the total must be $10,000 or under.
But before you get started on that task, Thomas Lockhart from Finance is going to stop by and go through a brief overview of how to do a cost benefit analysis.
I’ll check back with you soon to find out how you’ve done with your first pass at the cost benefit analysis spreadsheet.
Carla
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Intranet
About Us
Recognized both nationally and locally for its expertise and dedication to patients’ health, St. Anthony Medical Center is a key element in Vila Health’s mission to be the premiere system of health in the Twin Cities metro area. We work with over 150,000 individuals each year as they face illness and other challenges to their health and wellbeing.
We offer not only the traditional specialties you would expect from a state-of-the-art healthcare facility but also complementary or alternative services you can’t get anywhere else. We are consistently ranked as one of U.S. News & World Report’s Best Hospitals in the United States.
Our Mission, Vision, and Values

  • Mission – Vila Health is a comprehensive system of health dedicated to preventing and treating illness and improving the health of the people it serves through innovative and compassionate care.
  • Visions – Vila Health aspires to transform lives through science, education and exceptional care, locally and globally.
  • Values – Vila Health is dedicated to providing quality health care by creating a system of care that promotes compassion, integrity, and accountability in all its dealings with patients, staff, and other partners.

Our Services

  • AIDS/HIV care
  • Cardiac/vascular care
  • Endovascular care
  • Integrative health
  • Joint replacement
  • Kidney care
  • Labor and Delivery
  • Mental Health
  • Neurological care
  • Oncology
  • Orthopedics
  • Reproductive medicine

View additional Vila Health Intranet Content »
↑ Back to top
Meeting/Interview with Finance Director, Thomas Lockhart
Screen 1
There are three steps to doing a cost benefit analysis.
Screen 2
The first is: Identify costs. On your spreadsheet, list all the proposed actions and their corresponding costs.
Screen 3
It’s helpful to think of costs in two categories: monetary, and non-monetary. Monetary would be any fees, licenses, materials, training, payroll costs, and so on. Non-monetary are things like potential risks or influences on brand reputation. You’ll need to do some research to come up with estimates for non-monetary costs.
Screen 4
Once you’ve listed both types of anticipated costs, add them together to get the total costs.
Screen 5
The second step is: Identify benefits. Just like with costs, you would list both monetary and non-monetary benefits.
Screen 6
Monetary benefits could be things like projected increased profits. Non-monetary benefits might be things like increased customer satisfaction and better brand recognition. Again, this will be determined by your research.
Screen 7
Add all anticipated benefits together to get the total benefits.
Screen 8
The third and final step is: Evaluate costs and benefits. Evaluating costs versus benefits on a three- to five-year time horizon is important in order to determine the long-term benefit of the proposed actions.
Screen 9
To evaluate, compare the totals. Are the costs higher? If so, your project actions may need to be adjusted, if possible. If there’s no realistic way to alter your project, it may not be considered a worthwhile investment for the organization.
Screen 10
On the other hand, if the total benefits are much greater than total costs, you might conclude that the project will be a worthwhile investment.
Screen 11
To recap, the three steps of cost benefit analysis are: Identify costs, identify benefits, and then evaluate the costs and benefits.
↑ Back to top
Intermission
You have received an email attachment from Carla Neustadt. With this attachment you’ve been given a finite budget of $10,000 to re-vamp services and/or marketing channels for the Labor and Delivery unit of St. Anthony’s. For the non-monetary (qualitative) costs and benefits, do some independent research to estimate a reasonable dollar amount. Click ‘continue’ to open the Cost Benefit Analysis spreadsheet.
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Cost Benefit Analysis Spreadsheet

  Current Year (CY) CY + 1 CY + 2 CY + 3 CY + 4 CY + 5 Total
Costs
               
Total Costs (Future Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Total Costs (Present Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Benefits
               
Total Benefits (Future Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Total Benefits (Present Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
               
Present Value Discount Rate              
Present Value Denominator              
Cost Benefit Analysis
Total PV Benefits              
Total PV Costs              
NET BENEFIT              

↑ Back to top
Email #2
Carla is requesting that you put together a summary of your initial thoughts on your meeting with Richard and the focus group. Review it and select send if you are satisfied.
Cost Benefit Analysis
From: Carla Neustadt, Vice President of Operations
Hi,
How did the cost benefit analysis go? Are you on track to present your results to leadership in a couple of weeks?
Looking forward to hearing from you about your results.
Regards,
Carla
nto a marketing action plan is a step that takes the planner beyond mere speculation. Creating a financial analysis means demonstrating the potential impact of interventions in a measurable way so that leadership can make an informed decision.

In this activity, you will conduct a cost benefit analysis as part of your marketing plan recommendation.

Learning Objectives

  • Formulate a revised service offering for St. Anthony Medical Center’s Labor and Delivery unit, including features, advantages, and benefits to consumers.
  • Propose consumer market segments with associated applicable features and benefits for the Labor and Delivery unit.
  • Create a plan of action comprised of marketing communication channels to reach each customer segment.
  • Explain costs and benefits for each marketing communication channel intervention by using the Cost Benefit Analysis tool.

Market Action Plan and Financial Analysis

St. Anthony Medical Center is challenged with growing the business using a market pull strategy. As the health administration intern for St. Anthony Medical Center, your next task is to propose a marketing action plan for the Labor and Delivery service line.

The marketing action plan will include major action items necessary to achieve the desired financial target and the associated costs and benefits for each item. Your marketing action plan will influence leadership’s decision on its overall strategy for the L&D unit.

Email #1

Financial Analysis

From: Carla Neustadt, Vice President of Operations

Hi!

Thank you for your work on the gap analysis. We really appreciate your efforts thus far.

Now it gets interesting! It’s time to take a look at new initiatives in the context of a cost benefit analysis so we can make some good decisions for Labor and Delivery next steps. Attached is the spreadsheet we use at St. Anthony for this purpose.

We have $10,000 in the coming year’s budget for these new Labor and Delivery initiatives. This includes previous marketing channels as well as new ones we’re considering. For both existing or new, the total must be $10,000 or under.

But before you get started on that task, Thomas Lockhart from Finance is going to stop by and go through a brief overview of how to do a cost benefit analysis.

I’ll check back with you soon to find out how you’ve done with your first pass at the cost benefit analysis spreadsheet.

Carla

↑ Back to top

Intranet

About Us

Recognized both nationally and locally for its expertise and dedication to patients’ health, St. Anthony Medical Center is a key element in Vila Health’s mission to be the premiere system of health in the Twin Cities metro area. We work with over 150,000 individuals each year as they face illness and other challenges to their health and wellbeing.

We offer not only the traditional specialties you would expect from a state-of-the-art healthcare facility but also complementary or alternative services you can’t get anywhere else. We are consistently ranked as one of U.S. News & World Report’s Best Hospitals in the United States.

Our Mission, Vision, and Values

  • Mission – Vila Health is a comprehensive system of health dedicated to preventing and treating illness and improving the health of the people it serves through innovative and compassionate care.
  • Visions – Vila Health aspires to transform lives through science, education and exceptional care, locally and globally.
  • Values – Vila Health is dedicated to providing quality health care by creating a system of care that promotes compassion, integrity, and accountability in all its dealings with patients, staff, and other partners.

Our Services

  • AIDS/HIV care
  • Cardiac/vascular care
  • Endovascular care
  • Integrative health
  • Joint replacement
  • Kidney care
  • Labor and Delivery
  • Mental Health
  • Neurological care
  • Oncology
  • Orthopedics
  • Reproductive medicine

View additional Vila Health Intranet Content »

↑ Back to top

Meeting/Interview with Finance Director, Thomas Lockhart

Screen 1

There are three steps to doing a cost benefit analysis.

Screen 2

The first is: Identify costs. On your spreadsheet, list all the proposed actions and their corresponding costs.

Screen 3

It’s helpful to think of costs in two categories: monetary, and non-monetary. Monetary would be any fees, licenses, materials, training, payroll costs, and so on. Non-monetary are things like potential risks or influences on brand reputation. You’ll need to do some research to come up with estimates for non-monetary costs.

Screen 4

Once you’ve listed both types of anticipated costs, add them together to get the total costs.

Screen 5

The second step is: Identify benefits. Just like with costs, you would list both monetary and non-monetary benefits.

Screen 6

Monetary benefits could be things like projected increased profits. Non-monetary benefits might be things like increased customer satisfaction and better brand recognition. Again, this will be determined by your research.

Screen 7

Add all anticipated benefits together to get the total benefits.

Screen 8

The third and final step is: Evaluate costs and benefits. Evaluating costs versus benefits on a three- to five-year time horizon is important in order to determine the long-term benefit of the proposed actions.

Screen 9

To evaluate, compare the totals. Are the costs higher? If so, your project actions may need to be adjusted, if possible. If there’s no realistic way to alter your project, it may not be considered a worthwhile investment for the organization.

Screen 10

On the other hand, if the total benefits are much greater than total costs, you might conclude that the project will be a worthwhile investment.

Screen 11

To recap, the three steps of cost benefit analysis are: Identify costs, identify benefits, and then evaluate the costs and benefits.

↑ Back to top

Intermission

You have received an email attachment from Carla Neustadt. With this attachment you’ve been given a finite budget of $10,000 to re-vamp services and/or marketing channels for the Labor and Delivery unit of St. Anthony’s. For the non-monetary (qualitative) costs and benefits, do some independent research to estimate a reasonable dollar amount. Click ‘continue’ to open the Cost Benefit Analysis spreadsheet.

↑ Back to top

Cost Benefit Analysis Spreadsheet

Current Year (CY)

CY + 1

CY + 2

CY + 3

CY + 4

CY + 5

Total

Costs

Total Costs (Future Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Total Costs (Present Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Benefits

Total Benefits (Future Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years
Total Benefits (Present Value) Total Current Year (CY) Total CY + 1 Total CY + 2 Total CY + 3 Total CY + 4 Total CY + 5 Total All Years

Present Value Discount Rate
Present Value Denominator
Cost Benefit Analysis
Total PV Benefits
Total PV Costs
NET BENEFIT

↑ Back to top

Email #2

Carla is requesting that you put together a summary of your initial thoughts on your meeting with Richard and the focus group. Review it and select send if you are satisfied.

Cost Benefit Analysis

From: Carla Neustadt, Vice President of Operations

Hi,

How did the cost benefit analysis go? Are you on track to present your results to leadership in a couple of weeks?

Looking forward to hearing from you about your results.

Regards,
Carla

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