Update Record From Formula Field

Recently an interesting implementation forced me to write this post, and may be many of you are already aware of this. There is a related list where I need to show a formula field, and on click of that field I need to change the status of that record.

Say case is related to account, and they are displayed in a related list on account. Now I want to change the status of any case which is related to an account. One way is to click on the case "edit", change the status and save it. I don't want to do this as it takes time and more button clicks. Another way is to provide a formula field as a hyperlink, and when that link is clicked status should be changed.

So for this create a formula field on Case ("UpdateStatus" for the reference) which will be a hyperlink and it will execute an visualforce page like this :

HYPERLINK("/apex/UpdateStatus?RecId=" + Id ,"Click To Change Status","_top")

Now add this formula field in case related list on account page layout, like this :

Now it's time to write a Visualforce page, so here is the code :

I know this is not the best approach to go with, and am open for any other solutions or findings.