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Market-driven physical assets management (PAM).

J A Rice

    The Journal of Health Administration Education
    |March 5, 1989
    PubMed
    Summary

    This study proposes a new organizational model for physical asset management, integrating market forces and strategic planning. It expands the concept of healthcare facility construction to a full life cycle approach for assets.

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    Area of Science:

    • Healthcare Management
    • Organizational Studies
    • Asset Management

    Background:

    • Healthcare institutions face complex interactions between market dynamics, strategic objectives, and physical asset management.
    • Traditional views often isolate construction as a single event, neglecting the broader asset lifecycle.

    Purpose of the Study:

    • To propose a novel organizational framework for managing physical assets in healthcare.
    • To integrate market forces and strategic planning into asset management strategies.
    • To advocate for a life cycle continuum approach to healthcare facilities and equipment.

    Main Methods:

    • Analysis of the linkages between market forces, strategic planning, and physical assets.
    • Conceptual development of a new organizational arrangement for asset management.
    • Expansion of the 'construction episode' concept to a life cycle perspective.

    Main Results:

    • Identification of interactive linkages influencing institutional physical assets.
    • Proposal of an integrated organizational structure for physical asset management.
    • A broadened understanding of healthcare facility development encompassing planning, creation, and maintenance.

    Conclusions:

    • A holistic, life cycle approach to physical asset management is crucial for healthcare institutions.
    • Integrating market forces and strategic planning optimizes asset management within a competitive healthcare environment.
    • The proposed organizational arrangement enhances the strategic management of healthcare facilities and equipment.

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