HSA 6108 FAU Planning Marketing in Healthcare Essay
Discussion 1. Research one large health care system in a city of your choice, and note its core business and any diversified organizations. Is this system practicing related or unrelated diversification? Discuss how this strategy reflects its mission and vision. Will this strategy continue to be effective in the changing healthcare landscape? Please respond to a minimum of two (2) other posts. The initial post must have a minimum of four (4) scholarly references/industry professional journals and your response to classmates must have at least one (1) reference source. 2. Respond to classmate discussion (bailey) Tenet Healthcare System Tenet Healthcare is a for-profit healthcare service company based in Dallas, TX. It was founded in 1969 through its predecessor, National Medical Enterprises, which began by buying four general hospitals. In 1995, NME merged with American Medical International, doubling the company’s size and renaming as Tenet Healthcare. The company encompasses four operations: hospitals, administrative shared services, revenue services, surgical hospitals, or ambulatory surgical centers. Examples of Tenet Healthcare facilities in our area are Delray Beach Medical Center, West Boca Medical Center, Broward Specialty Surgical Center, and more. Their network includes more than 480 ambulatory surgery centers and surgical hospitals, 61 acute care and specialty hospitals, and 110 other outpatient facilities (Tenet, 2024). Tenet Healthcare’s main operations showcase their related diversification. They partner with United Surgical Partners International (USPI) for their surgical ambulatory centers and surgical hospital networks. Their joint venture in 2015 created the largest provider of ambulatory surgery in the United States (Tenet, 2015). By 2025, Tenet expects USPI to encompass around 600 locations, and their deal has proven to be beneficial (Paavola, 2022). Tenet’s ambulatory care and hospital operations have performed well recently, defying industry expectations. In October 2023, the company posted $5.1 billion in net revenue for the third quarter, up from $4.8 billion in the prior year period. This was due to an increase in admissions and surgical services (Vogel, 2023). This diversification strategy aligns with Tenet’s vision “to deliver the right care, in the right place, at the right time”, as their network of centers is all across the country. I believe their strategy will be effective in the ever-changing healthcare landscape because they have continued to perform well under trying circumstances, with positive operating margins exceeding pre-pandemic levels (KFF, 2022). References: KFF (2022, December 5). The Nation’s Largest For-Profit Health Systems Have Typically Had Operating Margins That Meet or Exceed Pre-Pandemic Levels. Newsroom.https://www.kff.org/health-costs/press-release/the-nations-largest-forprofit-health-systems-have-typically-had-operating-margins-that-meet-or-exceed-prepandemic-levels/ Paavola, A. (2022, January 12). Tenet CEO: Why USPI Is the Gem of the Future. Becker’s Hospital Review. https://www.beckershospitalreview.com/hospital-managementadministration/tenet-ceo-why-uspi-is-its-gem-for-the-future.html Tenet (2015, March 23). Tenet, United Surgical Partners International and Welsh Carson to Create the Nation’s Largest Ambulatory Surgery Platform. WCAS. https://www.wcas.com/system/uploads/fae/file/asset/96/tenet__uspi_and_wcas_to_creat e_the_nation_s_largest_ambulatory_surgery_platform.pdf Tenet (2024). Our History. Tenet Healthcare. https://www.tenethealth.com/about/ourhistoryLinks to an external site. Vogel, S. (2023, October 31). Tenet Healthcare beats expectations on growth in ambulatory and acute services. Healthcare Dive. https://www.healthcaredive.com/news/tenethealthcare-beats-wall-street-expectations-reports-growth-in-ambulato/698309/ 3. Respond to Classmate #2 discussion (Cheryl) BAPTIST HEALTH Baptist health is a non-profit Christian based hospital. It was founded in 1960 in Coral Gables Florida as a single small organization, but has bloomed into a giant in the healthcare market. Today it has grown into a network of 11 hospitals from south Miami to the North Florida. Their mission is to provide quality and cost effective care to the communities that they are in. The organization boast that it has over 4,000 physicians and over 27, 000 employees and over 100 out patient centers within its system (John Commins, 2019). It’s iconic symbol, the pineapple was taken from the Italian Renaissance where inn keepers would place pineapples at their doorsteps so travelers would know that their place was one where they could be at home. It’s symbol then and now represents hospitality and quality of care whenever one sees it (About Baptist Health, 2023). This medical conglomerate has no core business as it has expanded through acquisitions of smaller hospitals and has diversified its scope of medical practices. Baptist offers a range of medical, surgical and technological services. It provides treatments for cancer, brain, spine, orthotics and the heart. Due to the scope with which they practice, the company says that many of their patients come from all over the Caribbean and Latin America come to the states to seek care from them. Baptist Health’s absorption of other hospitals into its network is an example of related diversification. The hospital expanded its brand which allows patients to stay within the hospital system no matter where they are in Florida. “Expanding into new geographic regions lets health systems leverage their brands, access more patients, build economies of scale and gain strength in negotiations with insurers (Klimek, 2019)”. Baptist Health diversification strategy reflects their mission statement and their vision for their hospital system. Their over arching goal is to reflect their religious principals which is seeing everyone as a brother and worthy of care. They push to improve and preserve life for everyone like Christ. Three of their core beliefs are people, compassion and belief (Fulfilling Our Mission | Baptist Health South Florida, 2023). Their current strategy will continue to be effective in the changing climate as one of their tenants is innovation. As they continue to grow they will continue to create a space where innovation and leading ideas can transpire. About Baptist Health. (2023). Baptisthealth.net. https://baptisthealth.net/about-baptisthealth Fulfilling Our Mission | Baptist Health South Florida. (2023). Baptisthealth.net. https://baptisthealth.net/about-baptist-health/fulfilling-our-mission JOHN COMMINS . (2019, July 1). Baptist Health South Florida Finalizes Boca Raton Regional Acquisition. Www.healthleadersmedia.com. https://www.healthleadersmedia.com/strategy/baptist-health-south-florida-finalizes-bocaraton-regional-acquisition Klimek, M. (2019, May 22). Health systems diversify to grow their business. Healthcare Finance News. https://www.healthcarefinancenews.com/news/health-systems-diversifygrow-their-business Suozzo, A., Glassford, A., Ngu, A., & Roberts, B. (2013, May 9). Baptist Health Of South Florida Inc, Full Filing – Nonprofit Explorer. ProPublica. https://projects.propublica.org/nonprofits/organizations/650267668/201812259349302101/fu ll
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