Module 2, Financial and Strategic Planning (CASE) Essay

Module 2, Financial and Strategic Planning (CASE) - Essay ExampleThe trade strategy was appealing in the year 2010, hence attracting $1,500 million in terms of revenue. In the year 2011, the trade strategy was not as effective, hence leading to a lower performance insurance coverage total revenues of $1,250 million. A strategic plan would be for the infirmary to adopt a new marketing strategy (Bryce, 2000). The new strategy would boost the hospitals preference among the sick, increase the amount of grants offered, and increase third-party investments.Secondly, Franklin Healthcare had a structural variety and dismissed some staff. The change had a positive effect in efforts to condense the operating expenses from $500 thousand in 2010 to $300 thousand in 2011, but had some satisfying effect on the revenue. There was a causal and effect relationship between reducing the deed of employees and the amount of patient revenue reported. The low number of staff led to a reduction in t he average patient population to achieve a balance between the demand and supply of wellnesscare. The hospital should increase the number of staff to maximize the supply of healthcare. All employees should report to a senior health worker to improve the level of accountability (Charupat, & Huang, 2012). The hospital should also invest in new equipment and know all the employees trained on how to operate them.A single marketing strategy and the structural change had a significant effect on the hospitals net income. The hospital reported a $249,800,000 reduction in net income from $1,499,475,000 in 2010 to $1,249,675,000 in 2011. The hospital should have a forecast of what to await in the next financial year. It should prepare a budget income statement that would serve as a policy variable and govern the control variables and external variables (Greenwood, 2002). The forecasting process should be automated to put forward ease of access and accept frequent reviews.An analysis of the income statement