Comprehensive overview of cerner corporation

Cerner Corporation is an American Multinational, headquarters at North Kansas City, MO, USA is the most significant IT Healthcare solution and service provider in the world.

Cerner is a publicly traded company listed in NASDAQ Symbol: CERN, their 2017 revenue was $5. 1 billion, with net income of$866 million. Cerner is a stateless corporation with 27500 employees based in 26 countries worldwide, Cerner solutions are installed and in use in more than 35 countries. Cerner Corporation established in 1979 by three friends who were partners at Arthur Andersen. In 1984 they released their first healthcare solution and in 1986 Cerner become a public company when it launched its IPO. It’s great to realize that word “ Cerner” originates from a Latin word signifying “ to discern.” Healthcare is my passion, and I want to be part of the healthcare delivery system, yet I am not a clinician, so I use my technical and analytical skills to develop world-class healthcare software solutions.

The reason I chose Cerner for my project because, in the past, I have worked for this company, and I admire Cerner for their strong work culture and core values. Cerner has been at the center of healthcare technology innovations for more than four decades. Moreover, a clear mission sums up its obsession with healthcare innovations: Health care is too important to stay the same.

Foundations of Multinational Business

Any organization that involves commercial transactions in more than one country will be known as a multinational enterprise. International business is expounded to the trade and financial transactions made by business entities across national borders. Global organizations might establish partnerships and joint-ventures with business partners from entirely different countries. International business is not limited to private companies; some time government might also get involved for political reasons. Cerner Corporation is doing business in more than 35 countries; let’s focus on three countries in different continents where Cerner is having most significant market share, The United States of America, The United Kingdom and Australia. All three nations are members of three major international institutes IMF, WTO, and the World Bank and actively follow their rules and guidelines. Based on statements by World Bank and Australian Government Treasury Department Australia is not only actively follow the guidelines of these three major international institutes but also a primary stakeholder in IMF and WB. According to the Australia Department of Foreign Affair and Trade, the Australian Government is firmly committed to the WTO and its framework of rules. The UK is the fourth-biggest investor in both the World Bank and the IMF, UK Department for International Development (DFID) and the Treasury are responsible for managing policy line on World Bank and IMF. The UK trades with “ the rest of the world” (non-EU countries) under the World Trade Organization (WTO) rules. Currently, they are negotiating new trade tariffs with EU due to Brexit.

The United States is the biggest partner in the World Bank and the IMF and holds special veto power and plays a vital role in influencing development priorities. The US follows WTO rules but, the Trump Administration drafted a bill that pulls the U. S. out of the WTO. Institution structure plays a vital role in the country’s economic development and visible to the population at all levels by deciding the systems in which financial trade happens. Institution structure is an establishment founded for a specific purpose, such as international relationships, economy, and business. They oversee the implementation of policy and govern the practice of individuals within a given association.

Institutions influence the creation of policies and how it is implemented. All three countries fall under the advanced and developed economy category. Their political system follows the Democracy, Democratic Governance, and Transparent Institutions.

Like any free society, their government transparency includes openness, accountability, honesty and obligation to share information with citizens. All three countries have a functioning and very efficient judiciary system. Their judicial branches have much power of its own over the implementation of enforcement of its rulings.

All three countries support globalization and play an essential role at the international level. Three nations are among the top importers of goods, and the UK is the second largest importer of series after the US. There many summaries available to prove that the US, the UK, and Australia have open policies towards globalization, and robust judiciary system and least corruption nations. The United States of America: The United States, as one of the world largest economy and most powerful actor in the world politics, has been the great influencer and initiator of the globalization process. The US government has been very appreciative of free and open trade, and they have passed many reforms to support free trade globally as well as regionally, e. g., NAFTA. The US Constitution protects property rights mainly through the Fifth Amendment, and Transparency International (the global coalition against corruption)has appraised the US among the top 16 least corrupt nation in the world. The United Kingdom: The United Kingdom has been part of the globalization initiative since the inception of WB and IMF. After the World War II, the UK government has played a critical role in promoting international trade. The UK has been building a new institutional structure to deliver effective financial regulation and stability for many years. The UK legal system gives a high level of property and intellectual property rights (IPR) protection. Transparency International has rated the UK among the top 8 least corrupt nation in the world. Australia has been one of the principal advocates of globalization, their decades of economic reform have built a long run of Australian economic growth.

Globalization has mostly benefited the Australian economy. Australia has an affluence of natural resources which they export, in the past, they used to trade only with the UK and EU because as part of British Empire but later they have started trade the USA and other Asian countries. Property rights are secured under Australian property law is the system of laws regulating and prioritizing the Property law rights, interests, and responsibilities of individuals about “ things.” Transparency International has rated Australia among the top 13 least corrupt nation in the world.

Cerner has a broad portfolio of products, includes software solutions for healthcare facilities like hospitals, doctors office, surgical units, and emergency department and professional services for product implementation and support. Cerner solutions are offered on the unified Cerner®Millennium® architecture and the HealtheIntent, a Big Data platform for healthcare. Cerner is among few HIT provider marketing their products and services globally. However, the US is still a there biggest market.

The product Cerner develop and market fall under the Software Solution category; Software can be imported by downloading it, buying it off the shelf or creating a customized version to meet the specific needs. So the tariffs payable are subject to change, depending on the goods, country of origin and how it will be used. Some products are duty-free, including software or may have lower ‘ preferential’ duty depending on country of origin. There are stiff country-specific legal barriers and regulatory compliance requirements for healthcare products, for instance, CE mark certification, data encryption & General Data Protection Regulation, patient privacy, patient safety, and any other specification.

Healthcare is a global phenomenon, as more nations are now depending on computerization and electronic medical records to improve healthcare delivery, global origination like Cerner would benefit more under multilateral trade. Cerner’s involvements in regional trading blocs are not known at this point.