This week you will continue to work on the Strategic Plan Template. It is important to review the feedback from your faculty each week and incorporate their fe
This week you will continue to work on the Strategic Plan Template. It is important to review the feedback from your faculty each week and incorporate their feedback into your template.
Complete the Part 2 Market & SWOT Analysis for Phoenix Hospital section of the Strategic Plan Template.
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.
HCS/498 v3
HCS/498 Strategic Planning Capstone
HCS/498 v3
Page 2 of 2
HCS/498 Strategic Planning Capstone ![]()
5-year Strategic Plan Scenario
Background
Phoenix Hospital is a 180-bed acute care hospital that is qualified as a not-for-profit facility. The hospital was originally owned by the county and transferred status to an independent facility three years ago. The hospital receives no external funding from governmental agencies for operations. The hospital is accredited by The Joint Commission and received re-accreditation during its triannual survey last year. The hospital has an aggressive quality management program and a low volume of medical malpractice claims. The hospital is located in Bedford, which is a city of 50,000 with 80,000 in the regional market. The hospital provides a general range of acute care services including medical/surgical, rehab, and emergency care. The president of the hospital has asked you to lead the development of a 5-year strategic plan for the hospital. You will use data provided in this scenario to make your decisions and recommendations.
In addition to information provided in this scenario, you are expected to include information from outside sources that are relevant to real-life events and projections for today’s health care market. This would include any actual market projections based on changes to health care reform and financing.
Market Forces that Affect the Hospital
Volumes
Patients
The continued growth of chronic disease will require changes to the care management model.
Percent of Population by Age
|
Age Group |
Five years ago |
Five years from now |
|
Under 18 |
24 |
18 |
|
18 to 44 |
46 |
32 |
|
45 to 65 |
24 |
30 |
|
Over 65 |
4 |
20 |
More than 53% of residents have at least some college education, with just more than 29% having an associates, bachelor’s, or graduate degree. More than 90 percent of residents have at least a high school diploma.
The average unemployment rate in the county is currently 9.9%.
Market share distribution percentage with major competitor.
|
Hospitals |
5 years ago |
Last year |
|
Phoenix Hospital |
48 |
35 |
|
Competitor |
30 |
43 |
|
Out of country hospitals |
22 |
22 |
Patient Origin by Zip Code for Phoenix Hospital
96101 is Phoenix Hospital zip code
94963 is major competitor hospital zip code
Payment
There is a continued focus on pay for performance and increased wellness programs. Health care reform has created more covered lives; however, there are often high deductibles.
The median household income for county residents is $59,548. On average, households in the county earn more than the state median household income of $44,446 and more than the national average of $53,650. The addition of a new automotive manufacturing plant to the local market this coming year is projected to add 1,500 production line jobs and 300 administrative jobs by year-end. Median income for the production positions is estimated at $45,000 and will provide health, vision, and dental insurance benefits.
Percentage of Population by Insurance
Current Payer Mix
Projected Payer Mix 5-years
As part of your review of this data, consider that a portion of the population will become Medicare eligible, the addition of manufacturing positions that include benefits will increase commercial insurance coverage, and changes from the health care reform will increase the number of patients in the market with insurance coverage.
Employers
There is expected growth in large employers with the addition of an automotive factory in the northwest sector of the county.
Staffing
Staffing has remained stable for the past year. The only difficulty is that there are not sufficient nurses cross-trained to work in the intensive care unit, so expensive agency nurses have been used periodically to fill this gap in the ICU.
Physicians
The continued shortage of medical staff, especially in orthopedics, oncology, and primary care, will require increased recruitment efforts.
Competitors
The other hospital in county, Hanover County Hospital, updated its facility and has drawn more market share.
|
Primary Competitors |
Key Areas of Competition |
New Programs and Facilities |
Risk to Market Share |
|
Hanover County Hospital |
Facility upgrade Quality Scores |
Significant renovation of core hospital to update aesthetics Added new wide-bore MRI machine last year Reaching 95th percentile in five of six HCAPS categories |
Drawing patients to newer facility Accommodates heavier patients Patient perception of higher quality and patient satisfaction |
|
Medical Center in county south of Phoenix |
Physician clinics Financial stability |
E-Visits with specialists Low debt and high cash on hand |
Drawing patients out of primary and specialty care at Phoenix Hospital Ability to cash flow projects |
|
Secondary Competitors |
Key Areas of Competition |
New Programs and Facilities |
Risk to Market Share |
|
Retail pharmacy instant clinic |
Low acuity office visits |
Pharmacy added instant clinic in north end of county 6 months ago |
Loss of patients from primary care physician practices |
Technology
The addition of e-visits by a large hospital system in an adjoining county has drawn more market share to their physician practices.
The hospital has one MRI unit that is seven years old and is beginning to experience more “downtime” and needs more frequent repairs. This downtime has caused some scheduling delays for patients, and medical staff are voicing their concern.
The hospital has implemented the first phase of an electronic medical records system, which includes patient records for medical units and lab and radiology reporting. Specialized components of the system for OB documentation and oncology documentation have not yet been purchased.
The emergency department provides EMS ambulance service to the county and has two ambulances. One ambulance is five years old and the second is eight years old with 187,000 miles on it.
The cardiology department has one cardiac catheterization lab in good working condition. Demand for Cath Lab time has increased, but there have been delays because of limited Cath Lab trained staff and only having one Cath Lab available.
The front lobby of the hospital is in disrepair with worn tile flooring and aged lobby furniture.
An employee gym was created several years ago but only contains one treadmill and a few weights. Staff have complained that there is not better gym equipment.
Regulatory Changes
Health care reform has increased the number of patients with some form of insurance payment. These patients are now seeking care in greater numbers from a primary care physician. Phoenix Hospital currently struggles with accommodating patient scheduling requests to establish care with a primary care physician.
Accreditation requirements for the coming year are changing to require CPOE (computerized physician order entry) in the medical record. The current electronic medical record system has not required CPOE, and staff regulations have accommodated verbal orders to nurses on a routine basis.
During the last Joint Commission survey, the hospital was cited for not having fire sprinkler heads in one patient care unit of the hospital. Installation cost is estimated at $50,000.
During the last Joint Commission survey, the hospital was cited for not demonstrating sufficient training of staff for emergency preparedness and disaster drills.
The State Department of Health has issued a new regulation that requires all hospital management personnel to have documented active shooter training once per year, beginning this coming year.
Hospital Financial Summary
|
Operating Revenues |
This Year |
Last Year |
|
Net revenues from services to patients |
343,737,280 |
344,726,245 |
|
Other operating revenues |
16,846,309 |
20,311,534 |
|
Total operating revenues |
360,583,589 |
365,037,779 |
|
Operating Expenses |
This Year |
Last Year |
|
Salaries and benefits |
192,053,379 |
182,853,245 |
|
Supplies and other expenses |
130,173,477 |
135,560,131 |
|
Depreciation |
18,969,799 |
20,644,157 |
|
Interest |
2,695,623 |
2,226,437 |
|
Foundation |
628,184 |
1,182,308 |
|
Total operating expenses |
344,520,462 |
342,466,278 |
|
This Year |
Last Year |
|
|
Income from operations |
16,063,127 |
22,571,501 |
Volume changes last year versus this year
Last year
Admission ER visits Deliveries Surgeries 4458 20930 405 6365 This year
Admission ER visits Deliveries Surgeries 5147 26292 472 7284
Column2
[CATEGORY NAME] 52% [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] 96101 93921 92106 94963 0.42 0.12 0.16 0.2 Column2 96101 93921 92106 94963 0.42 0.12 0.16 0.2 US Age Distribution 2010 [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] [CATEGORY NAME] [VALUE] Medicaid Medicare Commercial Uninsured Other 0.35 0.3 0.24 0.09 0.02 Medicare Medicaid Commercial Uninsured Other 38 24 32 4 2
Copyright 2022 by University of Phoenix. All rights reserved.
Copyright 2022 by University of Phoenix. All rights reserved.
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HCS/498 v3
Strategic Plan Template
HCS/498 v3
Page 2 of 2
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Strategic Plan Template
This course will feature a cumulative assignment starting in Week 1 and concluding in Week 5. You will complete this assignment each week using the Strategic Plan Template provided. This document will be used in conjunction with the Phoenix Hospital 5-Year Strategic Plan Scenario. It is important that you read the scenario in its entirety prior to completing the Week 1 assignment. Make sure to refer back the scenario each week as instructed for these cumulative assignments. You will record all responses to the appropriate assignments in this document. Your faculty member will also provide feedback directly through this document. This document will break down the basic steps used in strategic planning to make a strategic decision in health care. While this scenario is specifically geared toward a hospital setting, the knowledge and skills you will possess at the end of this course can be applied to any health care facility (e.g., physician’s office, long-term care, etc.).
Part 1: Mission and Vision for Phoenix Hospital
Section A
In this first assignment, you will create a mission and vision statement for Phoenix Hospital. It is important to read the Phoenix Hospital 5-Year Strategic Plan Scenario prior to completing this assignment.
Create a mission and vision statement for Phoenix Hospital. Remember that your mission and vision statements should be a strong representation of the following:
· Organization
· Organization’s goals
· Stakeholders that are impacted by the organization
· Values of the organization
|
Mission for Phoenix Hospital |
Vision for Phoenix Hospital |
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.
Section B
Write 260 to 350 words on the importance of mission and vision statements to organizations in which you:
Describe the process an organization uses to develop their mission and vision statement.
Explain internal and external stakeholders involved in the process of developing the organization’s mission and vision statements.
i. Discuss the roles and responsibilities of the stakeholders.
Explain how the mission and vision is foundational to strategic planning in a health care organization.
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your paper.
Part 2: Market & SWOT Analysis for Phoenix Hospital
Section A
Review the Phoenix Hospital 5-Year Strategic Plan Scenario.
Research current health care events that influence hospital or other health care facility performance. Consider using the article review from the Week 2 assignment, “Understanding Strategic Decision-Making in Health Care,” if applicable.
Complete the chart using a minimum of 700 words with the following information:
Identify 3 major market factors from the Phoenix Hospital scenario.
Analyze how the major market factors selected will affect performance of the hospital in the next 3 years.
· Consider real-life current events in health care and how those could affect hospital performance.
|
Major market factor |
Analyze how the major market factor affects hospital performance. |
|
1 |
|
|
2 |
|
|
3 |
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.
Section B
Based on the review of the Phoenix Hospital 5-Year Strategic Plan Scenario, conduct a SWOT analysis to generate a list of perceived strengths, weaknesses, opportunities, and threats for the hospital.
Strengths and weaknesses are traits internal to the hospital (e.g., strong physician loyalty to the hospital, aging building, and availability of financial resources).
Opportunities and threats are external to the hospital (e.g., a mall facility available for lease or a competitor hospital opening two physician practices in your market).
Complete the SWOT analysis for the Phoenix Hospital 5-Year Strategic Plan Scenario. Include the following in your SWOT analysis:
· A list of perceived strengths, weaknesses, opportunities, and threats
· At least 3 items in the SWOT analysis must be related to technology, regulatory, and financials.
· You have been provided one section for each SWOT area. If you would like to add additional items to SWOT sections, please add additional line items to the table.
· An analysis of the information from the strategic decision-making scenario that supports the SWOT analysis items
Note: Think ahead in your assignments regarding how your items in the SWOT analysis will translate to objectives and strategies in Week 4. For example, a weakness like “Limited registered nurse staffing in several departments” might translate to an objective of “Increase RN staff by 15 nurses within first 6 months.” The strategy for this objective might be “Job fair at the state nursing convention will increase interest and awareness of opportunities at Phoenix Hospital.”
Table 1: SWOT Analysis
|
Perceived strength (internal) |
Perceived weakness (internal) |
|
[Insert Response] |
[Insert Response] |
|
Perceived opportunity (external) |
Perceived threat (external) |
|
[Insert Response] |
[Insert Response] |
Analysis of existing technology information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:
Analyze existing technology information.
Determine if the technology is considered a strength, weakness, opportunity, or threat for the organization.
Explain your selection.
[Give your response]
Analysis of existing financial information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:
Analyze existing financial information.
Determine if the financials are considered a strength, weakness, opportunity, or threat for the organization.
Explain your selection.
[Give your response]
Analysis of existing regulatory information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:
Analyze existing regulatory information.
Determine if the regulatory information is considered a strength, weakness, opportunity, or threat for the organization.
Explain your selection.
[Give your response]
Analysis of existing information from the Phoenix Hospital strategic decision-making scenario. Include the following in your analysis:
Select an additional market factor and complete your analysis.
Determine if the factor selected is considered a strength, weakness, opportunity, or threat for the organization.
Explain your selection.
[Give your response]
Cite at least 1 peer-reviewed, scholarly, or similar reference to support your assignment.
Part 3: Goals, Objectives & Final Decision for Phoenix Hospital
Section A
Based on your review of the Phoenix Hospital 5-Year Strategic Plan Scenario provided in Week 1 and your work in Weeks 1 through 3 on mission development, market and SWOT analysis, complete the table below listing 4 to 5 objectives and strategies for the facility. Explain why each strategy is important.
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