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Effects of legal, regulatory & economic issues on strategic plan

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What are some legal, regulatory, and economic issues impact healthcare? How do these affect the development of a strategic plan?

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The response addresses the query posted in 1000 words with APA references
//Strategic planning is considered as a new approach that has evolved in the field of human resource management. In the healthcare sector, strategic planning helps in generating the need to adopt a proactive strategy by the human resource department to identify various career goals and opportunities for the workforce. In this context, in the following paper, the effect of various legal, regulatory and economic issues on the healthcare sector are analyzed in a more effective manner//.
Effects of Legal, Regulatory, and Economic Issues on Healthcare Sector
The health care sector is undergoing various challenges and opportunities that foster the healthcare organizations to adopt required changes in this industry. The needs of the people in the society are complex, long-term and inter-related in nature. It helps in generating the need to strategically plan, analyze, control and coordinate various economic, legal and regulatory issues in order to deliver quality services in the healthcare sector (Williams, Forbes & Fincham, 2015).
In the present scenario, the major challenge that is emerging in the health care industry is to make the best use of the effective and efficient human and financial resources. Therefore, in order to meet the needs of the self-interest groups the administrators of the health care sector analyzes the economic, legal and regulatory issues to ensure proper participation and empowerment of various individuals in the society (Costigliola, 2012). These are the major key factors that help in driving changes in the health and social care industry, which mainly includes the economic, regulatory, legal factors, social changes, political influences, as well as operational and legislative policies of a country (Ojo, 2012).
The civil and criminal laws impacts the healthcare sector to a large extent. The main focus of the civil laws is to analyze the wrongful acts that are committed by an individual or the health care organizations as they are based on the ...

Solution Summary

The expert determines what are the legal, regulatory and economic issues that impact healthcare. How these issues affect the development of a strategic plan are determined. The response addresses the query posted in 1000 words with APA references.

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