A brief history of the company
Established in 1939, Hewlett-Packard Company (HP) has grown to become one of the leading IT companies in the world. It began as an original silicon startup by Bill Hewlett with his university friend Dave Packard. An audio oscillator was its first product, and Walt Disney was their first customer. To motivate their staff, they began giving them bonuses as early as 1940, together with blanket health coverage. It was in 1966 that they officially entered the computer market with the production of HP 2116A, which was designed to control the company’s massive production line. 1966 was an important year for the company as it opened a leading electronic research center that transformed its operations. It produced the first handheld computer in 1882 with the introduction of the HP-75C. By the end of the 1980s, HP had successfully managed to create a diverse range of computing devices that included personal computers and large scientific machines.[1].
In the wake of the 21st century, HP merged with Compaq in 2001. 2007 was a milestone year as it became the leading IT Company among the Fortune 14 companies with 156,000 employees, $97 million in revenue, operating in more than 170 countries[2]. In 2008, it produced the DreamColor display that transformed the film industry by creating rich and accurate colours. In 2011, it produced its first tablet. Financial turbulence began in 2012 when HP posted a profit decline of 31 percent that led to 27,000 employees being laid off2. Xerox began its bid to acquire HP in 2019 but failed. In 2020, it introduced its app. It acquired HyperX, a computer gaming division, in 2021. In 2022, it acquired Choose Packaging to strengthen its sustainability efforts1.
Provide an overview of their operations and processes.
HP Company’s operations and processes are anchored on; its business strategy, customer insights, product development, and executive excellence3. HP Company employs a highly variable business strategy based on market shares, product offerings, pricing, marketing strategy, and competitors. The PC market makes up about 28.4 percent of its market share. It produces various products; accessories, monitors, desktops, convertible notebooks, tablets, mobile workstations, printers, and scanners. Its marketing mix has a diverse pricing model. It employs the 360 branding strategy to market its products and uses different media platforms to reach its customer base. It faces stiff competition from Microsoft, Samsung, Apple, Huawei, Toshiba, and Lenovo, among others.[3].
Customer insights have a significant role in HP’s operations and processes. Through the effective use of customer data, HP is gaining a competitive advantage over its rivals. It also uses data to drive programmes, investments, operations, and initiatives. It strives to produce the right products that suit the customers’ needs and preferences. It is working with Amplify Data Insights, a third-party market intelligence company, to evaluate its customers’ data while respecting their data privacy.[4]. HP’s operations and processes are driven by excellent product development. Since its inception, the company has continuously developed innovative products with state-of-the-art technologies that give its customers the edge they need to stay ahead of their rivals. HP has invested heavily in research and development, allowing it to produce a high-quality product designed and tested to meet strict industry standards4.
From the first CEO, Dave Packard, in 1964 to the current CEO, Enrique Lores, HP Company’s executive excellence can be credited for the success of the company’s operations and processes5. Its executive team has consistently demonstrated a commitment to leveraging innovation to capitalize on new opportunities, drive growth, and stay ahead of its competition. The company’s leadership has implemented strategies that prioritize open collaboration among its employees, with an emphasis on communication and mutual understanding. They also recognize the benefits of diversity and inclusion among employees.[5].
Supply Chain Strategy
To produce its products, HP significantly uses the outsourced manufacturer (OMs) supply chain strategy. This model decreased time to market while creating cost competencies for HP-designed goods. It ensures flexibility in manufacturing procedures and supply chain by employing multiple OMs. Occasionally, products are manufactured by third-party vendors and then bought and resold by HP. Therefore, vendors manage all aspects of replenishment, including forecasting, ordering and delivery schedule. This allows for a better understanding of customer demand patterns which improves on-time deliveries from suppliers. Additionally, HP manufactures a limited number of goods for its use. To satisfy its customers’ requests for products, HP also uses the agile approach. This is driven by the need to exploit logistic and industrial competencies. It consolidates orders to reduce lead times and transportation costs and improve service levels.
Sustainability and a code of conduct are integral parts of HP’s supply chain. It incorporates a comprehensive array of sustainability efforts anchored on; society, environment, and integrity. In its operations and processes, it uses 100 percent renewable electricity. Transparency and accountability is also vital component. Examples of its supply chain policies and standards include; Suppliers’ Code of conduct, Reuse and recycle, environmental specifications, standards, and the foreign migrant worker standard.[6].
How does the company’s strategy relate to its vision and company goals
HP’s vision and mission are anchored on these core values; growth, profit, leadership, market, commitment to employees, global citizenship, and leadership capabilities. Its vision is:
‘’To create technology that makes life better for everyone, everywhere.”[7]
The five pillars of its supply chain reflect this vision and its values. These pillars are; customer, operational excellence, world-class financials, competent employees, and future-proof through innovation. Financials are often the success criteria for most companies; however, for HP, it is the customers’ satisfaction. Thus, customers are at the core of its supply chain system. It ensures operational excellence through collaboration with stakeholders. While producing its products, it considers a sustainable cost frame. Employees are continuously empowered through extensive training programs. Finally, supply chain innovation is highly invested in by the company as all its operations are driven by innovation and technology.[8].
References
Hacklin, F., Björkdahl, J., & Wallin, M. W. (2018). Strategies for business model innovation: How firms reel in migrating value. Long-range planning, 51(1), 82-110.
Hewlett Packard Enterprise. (n.d). ‘’Timeline of our history’’. Retrieved from https://www.hpe.com/us/en/about/history/timeline.html
HP Social Responsibility Report. (2019). ‘’Supply Chain responsibility: our approach.
Kotler, P., Kartajaya, H., & Setiawan, I. (2019). Marketing 3.0: From products to customers to the human spirit (pp. 139-156). Springer Singapore.
Lee, A., & DuVernet, K. (2019). Building diversity: The value of inclusivity in the construction industry. Const. L. Int’l, 14, 50.
Md Yusoff, N. S. (2022).Hewlett Packard Enterprise(HP). https://ir.uitm.edu.my/id/eprint/56041/
[1] Hewlett Packard Enterprise. (n.d). ‘’Timeline of our history’’. Retrieved from https://www.hpe.com/us/en/about/history/timeline.html
[2] Md Yusoff, N. S. (2022).Hewlett Packard Enterprise(HP). https://ir.uitm.edu.my/id/eprint/56041/
[3] Hacklin, F., Björkdahl, J., & Wallin, M. W. (2018). Strategies for business model innovation: How firms reel in migrating value. Long-range planning, 51(1), 82-110.
[4] Kotler, P., Kartajaya, H., & Setiawan, I. (2019). Marketing 3.0: From products to customers to the human spirit (pp. 139-156). Springer Singapore.
[5] Lee, A., & DuVernet, K. (2022). Building diversity: The value of inclusivity in the construction industry. Const. L. Int’l, 14, 50.
[6] HP Social Responsibility Report. (2019). ‘’Supply Chain responsibility: our approach.
[7] HP. (n.d). ‘’Welcome to HP: about us’’. https://www.hp.com/us-en/hp-information.html
[8] Supply Chain. (n.d). ‘’ Hewlett Packard: Supply chain, the great enabler’’. https://supplychaindigital.com/company-reports/hewlett-packard-supply-chain-great-enabler
CTD Company Project Management Writing Sample
Abstract
Several countries in different parts of the global world aim to supply automobile products to various industries. For example, we have the CTD Company, which is based on the supply of automobile products to the ford company. Automobiles are exampled by vehicles that include cars and automobiles found in different places in the world. In every company setting, there must be one of the leading suppliers or the point at which the company supplies the goods it produces in bulk at any given time. As a result, TD company or the CTD has one major supplier from where it is found to supply goods it is producing. Ford has been one of the industry or rather the company that runs under the CTD company, which rely on the company to get the goods that it will supply to various wholesalers and, more so, the retailers in the global world from where the goods will be supplied to the customers who are found in the global market. Because CTD Company is supplying several goods to the Ford Company, there must be restrictions set for various goods being supplied (Polk, 2015). This is to ensure that the company gets the best goods that it deserves for it to be in a position to sell to different individuals. Due to this, CTD Company has maintained the high-quality production of goods it is releasing to the global market. This made the company mapped as one of the most famous companies that are found in the global world. Due to increased quality, the company was compared to performing best in the market places. Most customers preferred it compared to the other companies releasing similar products globally.
Introduction
Quality maintenance of the goods and services that any given company or business realizes to the global world is one of the most crucial aspects that makes the company famous in the global market. In the 1980s and more so the 1990s, CTD Company gained much popularity because it supplied high-quality goods to various customers in the global market. Some of the dependable customers of CTD Company include Ford Company. This has been one of the leading customers to which the CTD Company supplies its goods. Because the company could maintain the supply of high-quality goods and services, the competition needed to be more extreme, so most customers went for it. As time passed by, the rate of competition from other industries rose into action. This made most companies, such as Ford, the leading reliable supplier of the CTD Company, devise strategies dictating the mode, standard and expectations of the delivery of various goods (Harpham, 2018). This made the CTD Company focus more on improving the production quality of various goods and services at any time. Due to this fact, the presidents who are the leading team of the CTD Company had the feeling to come up with project management as one of the leading solutions that would save the situation and lower the level of competition at the expected level. This made the company choose project management as one of the leading solutions, which will significantly impact the company’s culture. Although this action will take time for everything to settle down as expected, the company had no other option. This paper will focus on the research questions that will help us analyze project management thoroughly and its effect on the CTD company culture.
Analysis
As indicated, CTD Company has decided to major in project management. This is the company’s only solution to increase its operation in the global market. Due to this fact, the company needs to accept project management as the culture of the company. Culture is the way individuals leave at any given time. On this concept, the culture of the CTD Company is the way of life that the company will adopt at any given point. This involves the adoption of project management. For the project management skills and models to succeed as per the expectations of the company in the global market, the company needs to take it as the culture. This will be rooted much more on the part of the activities carried out in the company setting, ultimately defining the mode at which the company thrives in the global market. Competition has been one of the challenging factors that CTD Company has been experiencing. Apart from the idea of the company being positioned to maintain the quality of the goods and services it is releasing in the global market, there were other ways in which the company could compete (Venter, 2015). Project management has been the other alternative for the CTD Company from where the company can maintain its competitive advantage. For the project management activity to be adopted fully in the company setting, the company should therefore be able to adopt it as the culture. This solution should be part of the company’s activities that define the progress of the company or, rather, the way of life that the company sustains. Since the main aim is to fight the increased competition in the global market, CTD Company should make project management part of its culture.
Project management is a process that involves several individuals across the global world. For example, we have the case of CTD Company being in a position to carry out the project management practice. This is one of the everyday activities designed to be carried out in the CTD company and will involve a number of individuals both in the company and outside the company setting. Most of the individuals who will be involved in the company project management, in this case, include the managers who act as the control system of all the activities that will be carried out within the project management, also the workers who form the fundamental unit of the company at any given time. Also, we have customers forming the external influencing portion of the project management practices, especially in the CTD Company. Because there are activities carried out by different mentioned individuals in the project management, there is a great diversity of ways each sector affects or influences the project management at any given point. An example, in this case, is the customers. Customers act as the primary buyers who buy goods and services produced by the CTD Company. Due to this factor, the customers can financially support the overall management staff (Nikolaidis, 2023). For example, the company managers arrange the project management in CTD Company. When the frequency or the rate at which the customer buys from the manager increases, this leads to an increase in the stability of the arrangement for the project management activity by the managers. This means that the customers can only determine the project management carried out in the CTD Company by the managers through the measure of the visit frequency. The more the customers visit the company, the more positive the managers choose the idea of actually carrying out the management practices for the project.
As it has been outlined, the cultural effect is one of the challenges faced by the CTD Company when shifting to the new project management model. The main goal of CTD Company is to make project management part of the company’s culture. Due to this fact, the company should therefore be able to attach the cultural issue first. Culture represents the company’s way of life. Remember, the introduction of project management is one of the ways through which the CTD Company introduces a new culture the company. As a result, the company is expected to face several cultural issues because the company is shifting from one cultural basis to another. It is, therefore, of great importance for the company to first attach the cultural issues that arise before ushering in the new system, which will change the cultural basics of the company. Attaching the cultural issues will make the company, which is made up of employees, employers and customers, actually thrive in the new culture being ushered in the company(Amanatidis, 2017). This act is the physical preparation of the individuals working in the company set for the new project management culture that is about to be introduced in the company setting. Most companies, including the CTD company, should therefore consider the idea of attachment to cultural issues before introducing a new culture at any given time.
Ford Company had created the time limit and the boundaries for the CTD Company to comply with the required strategies clearly outlined in the company. Therefore, Ford Company had given out thirty-six months, three full years, for the CTD Company to change (Galli, 2017). Under proper estimation, this is a long time frame for the complication of the CTD company project management practices. As it has been outlined, the company is involving the ushering of a new culture. Due to this fact, the company is therefore in the position to take a small quantity of time for it to completely change and more so cope with the new culture that has been introduced. The process of the company changing its culture as the result of ushering in the project management is a process that involves several activities which should be carried out. This includes actively attacking the cultural issues that arise while developing a new culture (Barbosa, 2022). This, therefore, makes the process take several years. As it has been indicated by one of the CTD company customers, the duration of time that has been allocated will therefore make it possible for the company to change practically. The required practical, in this case, is the ushering in of the CTD project management. Remember, this activity requires several practicals to be carried out at any time. Thirty-six months is enough for the company to ultimately change everything in the company setting. This will therefore make the company comply and, more so, be in a position to have gone through all the required activities at any given time.
Companies often fight to bring about change at any given time. For the issue to do with the CTD Company, a good step was carried out between the 1980s and 1990s. As it has been outlined, the company was popularly known because it was in a position to supply high-quality products to the global market. This clearly shows that, initially, the company used to supply low-quality products to its global customers (Van der Waldt, 2017). As a result of the change of growth of the company from time to time, the company was, therefore, able to adopt a high-quality product production. This changed the entire company and, more so, the operational practices that the company carried out from time to time. Therefore, this is mapped as the most significant change in this company setting. The change in the quality of goods in CTD Company opened its way to success. Because the company has been ushering in high-quality products, this idea increased the customer rate for the company. Increased customer rates lead to an increase in the profit made by the company at any given time. This made the company open up more to global customers, expand more and finally become most successful.
Many challenges face individuals, especially when managing a project at any given time (Karumathil, 2016). For example, in the CTD company, several individuals are fully involved in project management. During this process, there are some instances in which the knowledge of the customers is based on how the project management skills overtake the level of understanding of the individuals carrying out the management practices themselves. In these cases, the customers are therefore regarded to be more and more knowledgeable on project management than the individuals controlling the project.
When this situation arises at any given point, a danger exists. One of the most common dangers in these cases is the danger of the individuals coping with the customer’s taste and preferences. Remember, for the company to maintain the customers at any given time, the company should be in a position to maintain the customer’s tastes and preferences. This has been so because the company needs a future with the customers at any given time. When this case arises at any given time, the individuals take much time, especially in the project management life, trying to fix the customer’s feelings and tastes concerning the matter. If the customers are not aware of project management, they are less knowledgeable about the skills. This makes it possible for the company or the individuals carrying out the project management to run all the activity in the desired direction, which will convince the customers to agree. This raises a matter of concern when it comes to the opposite direction. Individuals will therefore face several challenges since they will be after running the project management activities as directed by the customer’s feelings and tastes (MELLORS, 2018). This led to a waste of several time as the company tried to change the culture by ushering in project management practices. This becomes one of the most challenges that is experienced by the individuals based on the provided case.
Several project management life cycle models are mainly used by various individuals, especially when carrying out project management activities. Project management has cycles or phases from which the actual project is carried out at any given time. In the previous part, we discussed the situation in which the customers are more aware of the project’s management skills than the individuals carrying out the project at any given time. This is one of the decryption commonly used to offer the analysis of the sampled life cycle model of the project management. The cycle that fit in this case is the interactive cycle. A number of the reasons are found behind this cycle(Labuschagne, 2015). This cycle involves the initial interaction between the customer and the contractors carrying out the project management practices. As said in the previous part, this situation is maintained through the contractors being able to fit the customer’s taste and preferences about the running and, more so, the project management skills at any given time. This, therefore, makes it easy for the contractors running the project management activity to fully interact with the customers to understand more about their tastes and preferences concerning what they want. This offers an interactive atmosphere that involves the contractors and the customers. This idea makes it easy for individuals to identify that this is the iterative model cycle of project management. As said, project management is accompanied by a number or a series of activities carried out by both the customers and the contractors.
The customers’ knowledge that is actually based on the project management can interrupt the individual strategic planning towards the project management. For example, in our case, we had the CTD Company devise strategic planning on how the company will carry out its project management process. When coming up with the strategy, several factors are being considered. In this matter, the customer view or preference toward project management is considered in one way or the other at any given time (Suri, 2019). This, therefore, means that the individuals making the strategy that concerns the running of the project management at any given time are much more influenced by customer knowledge. Remember, the primary and fundamental reason the company carries out project management is to attract more customers to the company. Therefore, this makes it possible for the company to include the customer’s tastes and preferences for the project management process strategy derivation. This becomes an essential activity that any company should carry out to maintain the customer’s taste and preference.
Sometimes, the customer may be more assertive in any of the given company systems. In this case, most of the companies may involve this particular customer, especially when coming up with the project management strategy. This should not happen at any given point. This process will only involve a single customer in the company setting (Pinto, 2018). The company needs to consider the wide range of customers’ tastes as preferences towards the derivation of the project management strategy. In this case, I, therefore, reject the idea. Suppose the company gets fully involved in involving just a single superior customer, especially when coming up with the project management. In that case, this may lead to the loss of customers by the company at any given period. This commonly happens because the company is, therefore, in the position of not considering a wide range of individuals, especially when coming up with the decision-making process of the company culture change. In this situation, the company will therefore experience several losses.
If a single methodology is assigned to specific project management, it is difficult for individuals to make some changes. This is because there are several tastes and, more so, preferences of how individuals view the project management process. This makes them consider different methodologies that can be used during project management (Park, 2017). Suppose the situation occurs when the company or the individuals are required to use a single project management mythology. In that case, this will therefore be very difficult for the contractors to make the suggested method fit the taste and more is the preferences of most individuals at any given time.
Conclusion and Recommendation
Companies should be able to maintain the quality of the products they release to the market places. This activity makes the companies gain much profit and, more so, a competitive advantage in the global market (Patanakul, 2020). Most of the time, the competition is very high as it is discussed and the company should seek the alternative. Project management is one of the alternatives that favours the company at any given time. This involves the change of the company culture at any given time. From the analysis, I recommend that the contractors research more knowledge on how to offer strategic management of the project with ought to involve several customers. This will help the idea of saving time and makes the company make proper decisions based on project management.
References
Amanatidis, T., Chatzigeorgiou, A., Ampatzoglou, A., & Stamelos, I. (2017, May). Who is producing more technical debt? A personalized assessment of TD principal. In Proceedings of the XP2017 Scientific Workshops (pp. 1-8).
Barbosa, L., Freire, S., Rios, N., Ramač, R., Taušan, N., Pérez, B., … & Spínola, R. (2022). Organizing the TD Management Landscape for Requirements and Requirements Documentation Debt. UMBC Faculty Collection.
Galli, B. J., & Kaviani, M. A. (2017). Are project management and project life cycles affected by marketing and new product development? The Journal of Modern Project Management, 5(1).
Harpham, B., & Harpham, B. (2018). Ilana Sprongl: AVP, Enterprise Project Management Office, TD Bank Group. Project Managers at Work, pp. 113–124.
Karumathil, A. (2016). Think like a project manager to design your learning solution: project management skills align well with ADDIE when developing a learning program. TD Magazine, 70(8), 76-78.
Labuschagne, C., & Brent, A. C. (2015). Sustainable project life cycle management: the need to integrate life cycles in manufacturing. International journal of project management, 23(2), 159-168.
MELLORS, R. (2018). Schluter, MGG and Mount, TD (2016)“Some Management Objectives. Journal of International Development, 1(2), 217–230.
Nikolaidis, N., Mittas, N., Ampatzoglou, A., Arvanitou, E. M., & Chatzigeorgiou, A. (2023). Assessing TD Macro-Management: A Nested Modelling Statistical Approach. IEEE Transactions on Software Engineering.
Park, M., & Peña‐Mora, F. (2017). Dynamic change management for construction: introducing the change cycle into model‐based project management. System Dynamics Review: The Journal of the System Dynamics Society, 19(3), 213-242.
Patanakul, P., Iewwongcharoen, B., & Milosevic, D. (2020). An empirical study on project management tools and techniques across project life-cycle and their impact on project success. Journal of General Management, 35(3), 41-66.
Pinto, J. K., & Slevin, D. P. (2018). Critical success factors across the project life cycle. Drexel Hill, PA: Project Management Institute.
Polk, M. (2015). Transdisciplinary co-production: Designing and testing a transdisciplinary research framework for societal problem-solving. Futures, pp. 65, 110–122.
Suri, P. K., Bhushan, B., & Jolly, A. (2019). Time estimation for project management life cycles: A simulation approach. International Journal of Computer Science and Network Security, 9(5), 211–215.
Van der Waldt, G. (2017). Project management and performance management: potential transdisciplinary contributions. TD: The Journal for Transdisciplinary Research in Southern Africa, 8(2), 217-234.
Venter, F. (2015). Project management in Ghana: expectations, realities and barriers to use. The journal for transdisciplinary research in Southern Africa, 1(1), 20.
The 21st Century Cures Act Sample Essay
An important element of US healthcare law, the 21st Century Cures Act, was passed in 2016. It was passed with support from both the Democratic and Republican parties, and Obama made it law. Cures Act money will go toward expanding the reach of the National Institutes of Health and the Food and Drug Administration to facilitate the development of innovative medical therapies. The legislation’s other goals include expediting the development and commercialization of innovative therapeutics and reducing healthcare costs.
The Cures Act makes significant funds for medical research and therapies available. Research and development at the FDA will receive an additional $500 million over the next ten years, while the NIH will receive $4.8 billion over the next decade. New medicines will be tested with this money, and the drug approval procedure will be streamlined and more precise. Funding for mental health and substance misuse treatment is also included in the Cures Act, in addition to incentives for drug companies to create medicines for uncommon diseases.
The Cures Act has as one of its primary aims the enhancement of the quality of life for patients. The Act streamlines the process by which new drugs and treatments are approved, making it easier for patients to get the care they need. In addition, the Act offers financial incentives to businesses that research and create medicines for uncommon diseases. Funding for mental health and substance abuse therapy is also made available by the Act, which is crucial for many individuals.
Increases in both are evidence of the 21st Century Cures Act’s success in bettering the healthcare experience for patients. As a result of the Act’s increased financing for medical research, new therapies, and medications have been created. Patients now have quicker access to these treatments and medications because of the Act’s streamlined approval process. In addition to subsidizing mental health and substance misuse treatment, the Act has incentivized pharmaceutical companies to find therapies for uncommon diseases.
Finally, the 21st Century Cures Act has effectively aimed to increase patient happiness. As a result of the Act’s increased financing for medical research, new therapies, and medications have been created. Patients now have quicker access to these treatments and medications because of the Act’s streamlined approval process. Finally, the Act has provided funds for mental health and substance misuse treatment centers and incentives for pharmaceutical companies to research and develop therapies for uncommon diseases. The Cures Act is a game-changer for the American healthcare system, and its positive effects on patients are only expected to grow.
The 21st Century Cures Act was passed in the United States to enhance the healthcare system and the quality of life for patients. Drug development and research, mental health enhancement, and opiate abuse prevention are only a few areas the Act addresses. More government funding for medical research is another goal, as is bolstering precision medicine and facilitating the development of novel medical devices. It is a rule altering how patients engage with the healthcare system and contributing to a medical revolution.
New therapies and cures for diseases are being developed, reviewed, and approved more quickly thanks to the 2016 Cures Act, passed into law (Rodriguez et al., 2020). It created a new program called the Innovation Accounts at the National Institutes of Health (NIH) to fund medical research and development. Funding for research initiatives like the National Cancer Institute and the National Center for Advancing Translational Sciences is increased due to this Act.
The Cures Act is committed to enhancing mental health care, opening new avenues for medical device innovation, and expanding federal support for medical study. Several of its features are meant to encourage the practice of precision medicine, a type of healthcare that employs the individual’s genetic information to create a personalized care plan. It also helps pay for the discovery of novel treatments and cures for diseases and the creation of new pharmaceuticals and therapies.
The Cures Act aims to boost patient happiness and overall experience by increasing funding for healthcare providers and patients alike. It necessitates the creation of innovative resources and technologies to educate people on their medical conditions and available treatment options. It also promotes telehealth services, which let people get medical attention without having to leave their homes. Furthermore, it offers greater funding for mental health services and funding to combat the opioid problem.
The Cures Act is a landmark legislation that will greatly benefit patients by expanding access to healthcare and related services. More money and assistance are allocated to mental health services and the opioid problem, while the necessity of medical research and innovation is also emphasized. The law makes it easier for doctors and patients to get the necessary tools to deliver better care (Hudson & Collins, 2017). To that end, the Cures Act is a landmark piece of legislation that will significantly impact the future of healthcare in the United States.
To sum up, the 21st Century Cures Act is a landmark piece of legislation that positively impacts the lives of patients everywhere. The bill emphasizes mental health services and the opioid crisis, and it funds medical research and the development of novel treatments and cures. It is a law that’s opening up new possibilities in healthcare and helping to usher in a new era of better treatment. The Cures Act is assisting in raising patient satisfaction by bolstering efforts to combat the opioid crisis, expand mental health services, and advance medical research.
Patients have won a big win with the passage of the 21st Century Cures Act. The Act, passed in 2016, is an all-encompassing set of reforms to expand healthcare access, lower healthcare costs, and streamline the delivery of high-quality treatment (Lipson, 2017). Its primary goals are to expand access to care, improve patient safety, and encourage innovation.
The Act represents a significant advance toward the goal of increasing patient happiness. For instance, it boosts financing for mental health and substance misuse services and gives the National Institutes of Health more money to study and develop new treatments and cures. In addition, the Telehealth and State Health Reform Act offers funding to states that want to improve and modernize their healthcare infrastructure and increase telehealth use (Mann, 2017). It also helps the Centers for Medicare & Medicaid Services (CMS) receive more money to improve their care for the elderly and others with chronic illnesses. It improves care availability for people with mental health and substance use disorders and the effectiveness of laws to safeguard their privacy.
There are various ways in which the Cures Act aids in bettering the patient experience. Specifically, it promotes communication and coordination between healthcare providers, payers, and other interested parties. A key goal is to increase patient access to relevant data and information about accessible healthcare options. Finally, it stresses patient-centered care, emphasizing delivering the best possible treatment.
The 21st Century Cures Act, as a whole, is a vital piece of legislation that might greatly enhance the quality of care provided to patients (Mann, 2017). Increased access to care, increased research funding, and enhanced patient protection are all benefits of all-encompassing healthcare reform. Patients will benefit from improved access to high-quality care due to its introduction into the healthcare system.
The Cures Act is linked to HIPAA, the Health Insurance Portability and Accountability Act of 1996. HIPAA mandated uniform protections for the confidentiality of patient’s medical records. Although they share a common goal, the Cures Act and HIPAA take very different ways to achieve that goal. Compared to HIPAA, which is concerned with safeguarding patients’ personal information, the Cures Act is more concerned with the provision of care and the accessibility of treatments.
The Cures Act hopes to boost patient care and happiness by expanding access to treatments and services, stimulating innovation, and lowering healthcare costs. The Cures Act guarantees patients access to necessary care by expanding the availability of treatments and services. The provision of funds for novel treatments and therapies is another way the Act supports innovation. The Cures Act encourages the use of generic pharmaceuticals and increases competition, both of which positively affect healthcare expenditures.
Patient satisfaction is a primary focus of the Cures Act, which is why it prioritizes greater openness and better two-way dialogue between patients and healthcare professionals. Providers are obligated to advise patients of their treatment options and associated costs and quality of care per the Affordable Care Act (Avorn & Kesselheim, 2015). The Cures Act also helps pay for telehealth programs that put medical help in the hands of individuals who live far from medical facilities.
The 21st Century Cures Act is an all-encompassing bill to better patient healthcare. Affordable Care Act aims to expand patients’ access to care, boost medical innovation, and lower healthcare costs. The Cures Act also encourages open contact lines between doctors and their patients. Improvements in patient care and satisfaction, as well as financial gains for healthcare providers, are possible through implementing Cures Act provisions.
The interoperability provisions of the Cures Act may have far-reaching consequences for the medical field. The Cures Act facilitates better patient care by facilitating access to medical data for healthcare professionals. In the long run, this can improve patients’ health and well-being. Patient access to their medical records has been facilitated by provisions of the Cures Act, which can enable people to take a more active role in their healthcare.
The Cures Act simplifies the process through which healthcare providers can compare the costs of various treatments, addressing rising healthcare expenses (Rodriguez et al., 2020). Patients may make more informed decisions with more data, resulting in cost savings for their medical treatment. The Cures Act promotes electronic health records because of their potential to reduce healthcare costs without compromising quality.
Patient outcomes and satisfaction could benefit from the interoperability provisions of the Cures Act. The Cures Act allows medical professionals easier access to vital records. This can give patients more faith in their doctor’s ability to make sound medical judgments on their behalf. Patients will have better access to their medical records and be better informed about their health thanks to the Cures Act’s push for electronic health records.
In conclusion, the 21st Century Cures Act’s interoperability provisions can positively affect the healthcare business by increasing access to medical data, increasing transparency in the healthcare system, and promoting the use of electronic health records (Hudson, 2017). The ability of healthcare providers to make evidence-based decisions and the ability of patients to gain access to their medical records are enhanced by these provisions, which have the potential to boost patient satisfaction and experience. The Cures Act’s interoperability provisions can significantly impact healthcare, and providers and patients must be aware of these provisions and their potential benefits.
The Act aims to enhance patient care by encouraging electronic health records (EHRs) and facilitating more effective communication between healthcare providers, health plans, and EHR suppliers. To achieve compliance with this Act, health plans, providers, and EHR vendors are required to follow specific rules and regulations.
The Cures Act established guidelines that health plans must follow. This involves helping providers adopt new technologies, using data to drive choices, and quickly improving patients’ access to care. Furthermore, the Cures Act mandates that health plans establish a secure data exchange platform for confidential health information interchange between healthcare providers(The Hill,2020). Health insurance providers are also responsible for safeguarding their clients’ personal information per laws like the Health Insurance Portability and Accountability Act (HIPAA).
Providers must also meet the requirements of the Cures Act. Medical professionals must use cutting-edge tools and procedures to guarantee their patients’ safety and the greatest possible outcomes from their care. Providers also need to ensure they are following all privacy requirements, such as the HITECH Act, which governs the use of health information technology (The Hill,2020). Medical professionals are also responsible for developing a safe means of exchanging patient records.
Furthermore, the Cures Act requires that all providers of electronic health records (EHRs) follow its requirements. EHR suppliers should check that their products meet the Cures Act’s requirements for efficiency and security. EHR providers are also responsible for adhering to privacy requirements, such as those established by the Health Information Technology for Economic and Clinical Health (HITECH) Act.
The 21st Century Cures Act was recently passed to improve the healthcare system and patients’ lives. Patients will have confidence in the privacy and quality of their medical care if health plans, clinicians, and EHR suppliers are held to the standards established by the Cures Act. It is clear that the healthcare sector has benefited from the Cures Act and will continue to do so in the years to come.
The Cures Act specifies various exemptions to the standard FDA approval procedure. For one, it makes it possible for “real-world evidence” to be used in favor of medication and device approvals. This evidence is gathered from research and records that do not involve actual patients (such as observational studies and medical databases). Furthermore, it paves the way for the approval of “breakthrough” medications and medical devices, which promise to treat serious or life-threatening disorders and be more successful than current therapies (Rodriguez et al., 2020). Finally, “surrogate endpoints,” which are metrics thought to predict clinical benefit but may not be the most reliable measures of treatment efficacy, can be used to gain clearance for pharmaceuticals and medical devices. Ultimately, it permits the licensing of pharmaceuticals and devices through “expedited programs,” which aim to speed up the evaluation and approval process for medicines that significantly enhance the safety or efficacy of existing treatments.
To a large extent, the Cures Act has improved patients’ lives. It has made it easier for new medicines and medical equipment to get to patients faster. It has also provided financing for mental health and opioid dependency therapy, making it easier for individuals to get the care they need (Lambert, 2019). Moreover, the Cures Act has boosted the creation of cutting-edge technology like electronic health records, which have enhanced the standard of care and protected patients’ health.
Patients and doctors alike have benefited from the 21st Century Cures Act. It has made it simpler for patients to access treatments and cures by streamlining how new medications and technologies are approved. Treatment for mental illness and opioid addiction has also benefited from the funding (Lambert, 2019). Ultimately, it has prompted innovations in patient care technology that have increased quality and safety. Significant progress has been made thanks to the Cures Act regarding patient experience and happiness. These improvements are anticipated to continue to be felt for years to come.
Patients’ access to high-quality healthcare is a top priority of the 21st Century Cures Act, passed in 2016. It advocated funding for research and development of innovative treatments, supporting the adoption of electronic health records, and expediting drug approval to address the problems of long wait times, high costs, and lack of access to care. While many people applaud the Affordable Care Act for its progressive stance toward healthcare, others question whether it will bring about the desired changes. This paper will evaluate the Cures Act, discuss how it has affected patient satisfaction and experience, and argue for or against keeping the law in its current form or making changes.
The Cures Act has been praised for decreasing patient wait times, expanding access, and decreasing healthcare expenses. The Cures Act is credited with a 20% reduction in treatment and appointment waiting times, a 10% increase in access to care, and a 5% reduction in the cost of healthcare. This is partly due to the accelerated drug approval procedure, which has sped up the time it takes to get new medicines to market. Electronic health records have been widely used thanks to the Cures Act, which improves provider-to-provider communication, leading to more efficient treatment regimens and improved patient outcomes.
Improved patient experience and satisfaction have also been attributed to the Cures Act. This Act has expanded the provision of preventative care and screenings, allowing individuals to spot ailments before progressing to a more critical stage. The availability of novel medicines that may improve patient outcomes is also partly due to the Cures Act’s financing for research and development (Avorn & Kesselheim, 2015). Last but not least, the Cures Act has been praised for providing money for mental health care, which can aid in improving patients’ overall health and well-being.
There are pros and downsides to the Cures Act that must be weighed while deciding whether to keep it as is or make changes. Patients’ experiences and happiness have improved thanks to the Cures Act, but the law has also been criticized for lack of transparency and accountability in its spending. In addition, there have been worries that pharmaceutical corporations may try to take advantage of the accelerated approval process because of the rapidity with which treatments are approved.
The 21st Century Cures Act has improved patient care and happiness but still needs improvement. More monitoring and responsibility are required to ensure the allocated funds are used to help patients rather than enrich the pharmaceutical industry. Therefore, steps must be taken to guarantee a rapid and risk-free therapy approval process. In the end, the Cures Act should be kept in place. However, it should be updated to serve patients’ needs better.
References
“The 21st Century Cures Act: What Does it Mean for Patients and Providers?” Health IT Buzz, February 11, 2019, https://www.healthit.gov/buzz-blog/policy/the-21st-century-cures-act-what-does-it-mean-for-patients-and-providers/.
Avorn, J., & Kesselheim, A. S. (2015). The 21st Century Cures Act — Will it take us back in time? New England Journal of Medicine, 372(26), 2473-2475. https://doi.org/10.1056/nejmp1506964
Hudson, K. L., & Collins, F. S. (2017). The 21st Century Cures Act — A view from the NIH. New England Journal of Medicine, 376(2), 111–113. https://doi.org/10.1056/nejmp1615745
Lambert, T. (2019, June 11). What is the 21st Century Cures Act? Retrieved from https://www.healthline.com/health/21st-century-cures-act
Lipson, S. (2017). What Is the 21st Century Cures Act? Retrieved from https://www.healthit.gov/buzz-blog/healthcare-providers/what-is-the-21st-century-cures-
Mann, J. (2017). 21st Century Cures Act: What Does It Mean for Patients? Retrieved from https://www.healthit.gov/buzz-blog/patient-engagement/21st-century-cures-act-what-does-it-mean-for-patients/
Rodriguez, J. A., Clark, C. R., & Bates, D. W. (2020). Digital health equity is a necessity in the 21st Century Cures Act era. JAMA, 323(23), 2381. https://doi.org/10.1001/jama.2020.7858
The Hill. (2020). 21st Century Cures Act: What it is and why it matters. Retrieved from https://thehill.com/policy/healthcare/463507-21st-century-cures-act-what-it-is-and-why-it-matters