Module 2, Financial and Strategic Planning (CASE) Essay

Module 2, Financial and Strategic Planning (CASE) - Essay practiceThe marketing strategy was appealing in the year 2010, hence attracting $1,500 million in terms of revenue. In the year 2011, the marketing strategy was not as effective, hence leading to a let outer performance reporting total revenues of $1,250 million. A strategic plan would be for the hospital to adopt a newborn 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 geomorphological change and dismissed near staff. The change had a positive effect in efforts to reduce the operating expenses from $500 thousand in 2010 to $300 thousand in 2011, but had near material effect on the revenue. There was a causal and effect relationship between reducing the number of employees and the amount of patient revenue reported. The low number of staff led to a reduct ion in the average patient population to achieve a balance between the demand and hang on of healthcare. 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 responsibility (Charupat, & Huang, 2012). The hospital should also invest in new equipment and have 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 expect 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 enhance ease of access and accept browse reviews.An analysis of t he income statement