April 23, 2022

To evaluate a health care organization from a market-based perspective, you need information. Seeing how your organization is situated in the mar

To evaluate a health care organization from a market-based perspective, you need information. Seeing how your organization is situated in the market takes analyzing it from the inside out, considering both positive and negative factors. In this assignment, you will demonstrate your skill in strategic planning as you evaluate a health care organization from a market-based perspective and use that evaluation to create a SWOT analysis.

Assignment Preparation

Review the SWOT Analysis Overview before completing this assignment for an overview of what is included in a SWOT analysis.

Review the Stevens District Hospital Strategic-Planning Scenario.

Refer to the SWOT resources from the University Library that provide SWOT reports for select companies that may help you with your analyses. Not all companies will have a report. Because the reports are a compilation of an analyst's opinion, factor your own analysis into with other information you find.

Assignment Directions

Complete the SWOT Analysis Worksheet.

Write a 700- to 1,050-word analysis that incorporates the key components of your SWOT analysis for Stevens District Hospital. In your analysis:

Analyze the purpose of conducting the SWOT analysis in the context of the scenario.
Analyze the limitations and advantages of conducting a SWOT analysis individually rather than with a group of stakeholders.
Justify your selection of 2 factors from each of the categories in your SWOT Analysis Worksheet that you think will be most important to the strategic plan and strategic goals you’re developing for Stevens District Hospital. Consider how you can leverage strengths and opportunities to minimize threats and improve weaknesses.

Cite at least 2 peer-reviewed, scholarly, or similar references to support your assignment.

Format your analysis, citations, and references according to APA guidelines.

HCS/499 v5

Stevens District Hospital Strategic-Planning Scenario

HCS/499 v5

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Stevens District Hospital Strategic-Planning Scenario

Background

Stevens District Hospital is a 162-bed acute care hospital that is qualified as a not-for-profit facility. The hospital was originally a county-owned facility, and its status was transferred to an independent facility three years ago. The hospital receives no external funding from government agencies for operations. The hospital is accredited by The Joint Commission and received reaccreditation during their triannual survey last year. The hospital has an aggressive quality-management program and a low volume of medical malpractice claims. The hospital is in Jefferson City, which is a city of 50,000 people with 80,000 in the regional market. The hospital provides a general range of acute care services, including medical/surgical, rehab, and emergency care.

Current Performance Analysis

Current Mission and Vision Statements

Our mission: To improve health by providing high-quality care, a comprehensive range of services, and exceptional service.

Our vision: Stevens District Hospital and its affiliates will be the health care provider of choice for physicians and patients. Our five-year vision is to create a large, multispecialty physician practice system that would include at least six family practice physicians and specialists in cardiology, oncology, and women’s services. Currently, the hospital employs three family-practice physicians, one obstetrician, one medical oncologist, and one non-invasive cardiologist.

Previous Strategic Plan Review

Goals and Progress Table

Goals	Progress Toward Meeting Goals
Increase market share by recruiting three family practice physicians.	During the past year, the hospital was able to recruit only one family-practice physician to increase primary care market. The limited number of state medical school graduates makes local recruitment difficult.
Improve quality HCAHPS scores in all six criteria to a baseline of the 85th percentile.	The hospital improved HCAHPS scores in four of six criteria. Lagging elements in HCAHPS scores are inpatient patient satisfaction and primary-care patient satisfaction.

Market Forces Affecting the Hospital

Volumes

Volume Changes Last Year Versus This Year

Patients

The continued growth of chronic disease will require changes to the care-management model.

Percent of Population by Age Table

Age Ranges	% Five Years Ago	% Five Years From Now
Under 18	24%	18%
18–44	46%	32%
45–65	26%	30%
Over 65	4%	20%

More than 53% of residents have at least some college education, with just over 29% having an associate’s, bachelor’s, or graduate degree. More than 90% of residents have at least a high school diploma. The average unemployment rate in the county is 9.9%:

Market Share Distribution Percentage Comparison Table

Hospital	Market-Share Distribution % Five Years Ago	Market-Share Distribution % Last Year
Stevens District Hospital	48%	35%
Competitor Hospital	30%	43%
Out-of-County Hospitals	22%	22%

Figure 1: Patient Origin by Zip Code

Figure 1: In the Patient Origin by Zip Code pie chart, 96101 is Stevens District Hospital zip code and 94963 is major competitor hospital zip code. 52% are from 96101, 20% are from 94963, 16% are from 92106, and 12% are from 93921.

Increases in the percent of population with chronic disease and contributing factors will change significantly over the coming five years.

Chronic Disease Predictions

Payment

There will be continued focus on pay for performance and increased wellness programs. The Affordable Care Act (ACA) is leading to more people being covered; 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 next 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

Figure 2: Current Payer Mix

Figure 2: The Current Payer Mix pie chart shows that 35% are covered by Medicaid, 30% are covered by Medicare, 24% are covered by commercial insurance, 9% are uninsured, and 2% are noted as “other.”

Figure 3: Projected Payer Mix in 5 Years

Figure 3: The Projected Payer Mix in 5 Years pie chart shows that 38% are covered by Medicare, 24% are covered by Medicaid, 32% are covered by commercial insurance, 4% are uninsured, and 2% are noted as “other.”

As part of your review of this data, consider the following factors:

· A portion of the population will become Medicare eligible.

· The addition of manufacturing positions that include benefits will increase commercial insurance coverage.

· Changes from the ACA will increase the number of patients in the market with insurance coverage.

Employers

There is expected growth in large employers with the addition of the automotive factory in the northwest sector of the county.

Physicians

The continued shortage of medical staff, especially in orthopedics, oncology, and primary care, will require increased recruitment efforts.

Competitors

Hanover County Hospital, which is the other hospital in the county, has an updated facility that has drawn more market share to its facility.

Competitor Analysis Table

Competitor Name	Competitor Type	Key Areas of Competition	New Programs and Facilities	Risk to Market Share
Hanover County Hospital	Primary competitor	· Facility upgrade · Quality scores	· Significant renovation of core hospital to update aesthetics · Added new wide-bore MRI machine last year · Reached the 95th percentile in five of six HCAHPS categories	· Drawing patients to newer facility · Accommodating patients with a wider range of body weights · Patient perception of higher quality and patient satisfaction
Medical Center Located in County South of Stevens District Hospital	Primary competitor	· Physician clinics · Financial stability	· E-visits with specialists · Low debt and high cash on hand	· Drawing patients out of primary and specialty care at Stevens District Hospital · Ability to cash-flow projects
Retail Pharmacy Instant Clinic	Secondary competitor	· Low acuity office visits	· Pharmacy added instant clinic in north part of county 6 months ago	· Loss of patients from primary care physicians’ practices

Technology

A competing hospital has added e-visits for physician practices, which is causing a shift of patients to the competitor hospital's physician practices.

Regulatory Changes

Health care reform through the ACA has increased the number of patients with some form of insurance payment. These patients are now seeking care from a primary care physician in greater numbers. Stevens District Hospital struggles with accommodating patient scheduling requests to establish care with a primary care physician.

Planning Components Explanation

Planning Components Explanation Table

Components	Definition	Examples	Measurement
Goal	Organization goals that cover broad strategic issues, such as quality, finances, and growth	· Improve HCAHPS scores by 5%. · Improve operating margin by 3%. · Increase market share in 96103 zip code by 5%.	· Percentage increase in operating margin · Percentage change in market share
Objective	Broad action items that address organizational goals, such as increased market share, increased use of technology, and increased physician satisfaction	· Improve emergency department patient satisfaction survey by 5%. · Grow urgent care visits by 10%.	· Percentage change in the emergency department (ED) satisfaction survey · Percentage change in urgent care visits
Actions	Action item that meets an objective, such as implementing EMR, renovating physician lounge, and increasing marketing for specific products	· Implement urgent care center in north zip code. · Purchase tablets for physicians for EMR rounding.	· Number of patient visits at new urgent care center · Percentage increase of EMR use

Financial Summary

Financial Summary Table

Revenues and Expenses	This Year (In $)	Last Year (In $)
Operating Revenues	n/a	n/a
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	n/a	n/a
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
Income From Operations	16,063,127	22,571,501

Last Year

Admission ER Visits Deliveries Surgeries 4458 20930 405 6365 This Year

Admission ER Visits Deliveries Surgeries 5147 26292 472 7284

US Age Distribution 2010

96101 94963 92106 93921 0.52 0.2 0.16 0.12

5 Years Ago Obesity Diabetes Heart Disease 0.15 0.05 0.12 5 Years Ahead Obesity Diabetes Heart Disease 0.26 0.12 0.22

US Age Distribution 2010

Medicaid Medicare Commercial Uninsured Other 0.35 0.3 0.24 0.09 0.02

US Age Distribution 2010

Medicare Medicaid Commercial Uninsured Other 0.38 0.24 0.32 0.04 0.02

HCS/499 v5

SWOT Analysis Worksheet

HCS/499 v5

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SWOT Analysis Worksheet

Complete the SWOT Analysis Table based on your review of Stevens District Hospital’s performance.

Identify at least 4 of each of the following in the space provided in the table: strengths, weaknesses, opportunities, and threats for Stevens District Hospital. For reference:

· Strengths and weaknesses are traits internal to the hospital, such as strong physician loyalty to hospital, aging building, and availability of financial resources.

· Opportunities and threats are external to the hospital, such as a mall facility available for lease or a competitor hospital opening 2 physician practices in the hospital’s market.

Submit this worksheet with your written analysis.

SWOT Analysis Table

Internal Factors

Strengths

Weaknesses

External Factors

Opportunities

Threats

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SWOT Analysis in Healthcare: 4 Easy Steps and 6 Rules FEB 21, 2022 BY ABDUL MOMIN

Healthcare is detrimental to a good quality of life in a civilized society. A human being is resilient enough to be persistent through many challenges in life as long as they have health; this is why healthcare is so important in our lives.

Healthcare organizations like any other organization also have to be very cautious about their business and its functions. There are a lot of areas that can be changed and adjusted to get the best possible results. We can achieve this through a number of different methods.

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To keep things convenient, we will only discuss one such method. The tool we will use for this article is known as the SWOT analysis, and so we will be conducting a SWOT analysis in healthcare. Most of you are probably already familiar with this tool and its application to various industries and companies.

Despite SWOT’s popularity in studying various industries, it has not been frequently applied to the healthcare industry so we can say that there is a gap.

Basically, SWOT is an acronym that enables one to analyze an organization from a broad perspective through the lens of four factors; strengths, weaknesses, opportunities, and threats.

Before we start off, one thing to understand is the SWOT template. The internal factors in the SWOT analysis are the strengths and weaknesses. On the other hand, the external factors are simply opportunities and threats.

Strengths and weaknesses can be controlled and influenced by the entity being analyzed such as a company or in this case an industry, hence they are internal. Threats and weaknesses cannot be influenced by the industry; they occur on their own and can’t be influenced. So these are external.

Conducting a SWOT analysis is very simple as long as you understand what the concept is. There are so many examples on the internet you can look at so you clearly understand how it is done.

However, if you wish to work on a SWOT analysis in healthcare organizations, here are a few guidelines you can follow:

SWOT analysis as we mostly know was created originally with the intent of being used to try to study business-oriented organizations. However as time passed and experts began to understand its versatility as a tool, it started being used for unconventional industries like healthcare organizations as well.

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Free SWOT Template Word

Complete SWOT Analysis

Pestle Analysis Template

Free SWOT Analysis Template

Step 1 The first step has everything to do with data; how one can find it, access it, and compile it for further use in the analysis.

This data is very vast and cannot be explained in one para, however, some examples of what might serve as important information include the current technology being used in the industry, health conditions in the specific society, healthcare funding and its related policies, etc. Once you have all the data you will need to move on to the other steps, you can begin the work for the analysis.

One thing to be taken care of during this step is to verify the accuracy of your data. If what you have found out is false or even partially false, it will tamper with the analysis.

So make sure to use only reliable sources for this procedure and to cross-check everything.

There are certain tools that can aid your research process; we live in the era of technology so it is always smart to take its aid when possible. For example, Data Loader and ClearPoint Sync by ClearPointStrategy are two tools that can easily be hooked to a local spreadsheet without any AI or coding involved, and they are very easy to learn as well.

Once you have sufficient data, it becomes very easy to classify it into the various categories of the SWOT table. This is discussed in step 2.

Step 2 In the second step, the data which has been gathered is organized into four categories. These categories are strengths, weaknesses, opportunities, and threats. Keep in mind that the former two factors are internal whereas the latter two are external in nature.

For instance, if you are trying to assess the financial strengths and weaknesses of the industry, you can make use of the balanced scorecard technique. If you are looking for opportunities, maybe the possibility of merging with another organization in the industry might exist?

Now you’ll clearly see exactly how the four factors influence the industry at large. Let’s better understand this concept by working on relevant examples for each factor, shall we?

Strengths Factors that have added immensely to organizational or industrial success are the strengths. These are the factors that enable the industry to be sustainable and successful.

Anything could be a strength in a certain industry but let’s just talk about a few examples such as state-of-the-art medical equipment and technology, high-quality healthcare, healthcare informatics, highly trained doctors, nurses, and other medical personnel, etc.

Notice that all of these factors are controllable and have been made possible through the participants in the industry.

Weaknesses Factors that negatively affect healthcare quality or increase healthcare costs and liabilities are weaknesses.

Some examples of weaknesses in this industry may include outdated healthcare facilities, poor communication within the organizations leading to bad practices, insufficient training of the staff, lack of the use of healthcare informatics, etc. Being short on financial resources is also a big weakness.

All of these things can be mitigated by the efforts of the industry participants.

Opportunities New business initiatives available to be taken advantage of for further growth, stability, and prosperity in this industry are the opportunities.

Some examples of the opportunities that healthcare organizations should be availing include collaborations with different organizations preferably within the same industry and the development of new programs revolving around healthcare.

Another avenue that has so much potential for growth and development in the sector is the use of technology and AI. In the Western world, even robots can perform certain complicated surgeries that were previously not possible due to the chances of human error.

Technology is the future in every industry including this one. Opportunities always exist in the external atmosphere and have to be identified to be cashed upon.

Threats Threats are the factors that are essentially harmful to the prosperity of this industry. These are the factors we need to avoid at all costs.

Examples of what a threat could conceptualize include economic or political instability in a country which can lead to budget cuts for the industry as well. If modern healthcare demands expensive machinery; this would be a threat too because competition will become strong within the industry.

Threats exist outside of the industry’s control; they cannot be erased but they can be defended from.

Step 3 The third step of SWOT analysis in healthcare involves developing a SWOT matrix for each business option that is under consideration.

The matrix is the tabular format that has four columns compiled in a square shape to make it easy to compile information.

Naturally, the information you will find out from your research will be in abundant amounts. You cannot waste time writing huge paragraphs and essays. So it is customary you derive the main point from each finding and adjust it to the relevant column.

As long as what you write conveys the needed meaning, it shall be enough.

Step 4 In the fourth step of SWOT analysis in healthcare, the analysis derived is incorporated into the decision-making process as it determines which option will best suit the overall required strategic plan of the organization.

After all, we work on SWOTs to eventually figure out how to improve the status of the entity we study.

There are different strategies that can be made for the factors. The strategies you will devise to amplify strengths will be constructive in nature so you can build upon what you already have.

But if you are working to eliminate weaknesses, your strategies will be different.

Another way SWOT helps in the decision-making process is by convincing the relevant stakeholders for some decisions.

E.g. if the board of directors of a hospital has to approve a budget for an upgrade to their existing equipment, they would need to be convinced. If they have precise and clear information highlighted in the SWOT about how it will help the hospital, and what threats and weaknesses will be avoided, they would be more inclined towards agreeing.

Rules to Keep in Mind While Conducting SWOT Analysis in Healthcare It is one thing to understand how a SWOT analysis is conducted, it is another to work on one while keeping a few tips and tricks in mind.

Have an Unbiased Approach If you have biases, you will most definitely overlook important information. Remember, you aren’t doing this for personal reasons, you are doing it to have a chance to accurately analyze the industry.

It takes a very strong moral compass to be able to put aside any bias that you might have either in favor of the healthcare industry or against it.

Remember to leave your emotions at the door when you are working on a SWOT. The process is sometimes tedious which can generate unwanted emotions of anger and frustration which might cloud your judgment.

Avoid Complexity and Keep it Simple The more detail you dive into the harder you are making the process for yourself. Try to be very precise and articulate in reporting your findings so you can explain them easily.

If you make your information very dense and elaborate it into big chunks of words, many people from your desired audience will be put off from reading it.

Even if you are making the SWOT for yourself, trust me when I say you would not want to come back to read it if it is complicated and information-rich.

The entire purpose of this analysis is to keep things very simple so that important strategies can be devised using it.

Analyze Plans Rationally It is smart to compare your plans with direct competitors to get a better idea of whether or not your work is up to par. You don’t have to look very deeply into working with indirect competitors.

However, this step might be more useful if you are working on a SWOT analysis for a specific organization. Industries generally don’t compete the same way companies do within them.

You could however still take inspiration from other industries and their best practices. Just make sure not to waste too much time doing this, especially when trying to study an industry at large.

Understand the Needed Change As soon as you start seeing and comprehending your findings and their implications, you should immediately start mapping out the implementation of the needed changes.

Otherwise, all this work would be nearly useless. Information compiled in the SWOT will eventually be the guiding factor in making and even implementing different decisions.

Have Vision As we have already discussed a few times, there are both internal as well as external factors in the SWOT.

Just make sure you understand that internal factors show you where the industry currently stands whereas the external factors show you the potential future, or multiple futures depending on what factors hold more strength.

Strengths and weaknesses should give you the vision you need to steer towards opportunities and away from unwanted threats.

If you are able to understand the nature of the changes to be made for the betterment of the industry, you are already way ahead in the game.

Be Specific It is important that you know what you have to compile during the analysis when you are working on it. If what you write is too little to be comprehended, it leaves a lot of room for interpretation.

However if you write too much, it kind of ruins the purpose of convenience and ease. The goal should be to write things precisely, but with enough information, for it to mean something.

SWOT Analysis in Healthcare Industry: Final Thoughts If you have read your way through to this point in the article, you now understand what SWOT is and more importantly how it can be applied to the healthcare industry.

Despite this concept being relatively new, you can always add to the research work of working on SWOTs for this industry so that it becomes the norm. By following these steps, not only will you be able to conduct a proper SWOT analysis in healthcare industry, you will be able to do wonders with the knowledge because you can apply the same steps with a few tweaks according to the industry to work on other analyses, such as a PEST analysis on the healthcare industry.

FILED UNDER: SWOT ANALYSIS TAGGED WITH: BUSINESS ANALYSIS, HEALTHCARE, SWOT, SWOT ANALYSIS EXAMPLES

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What is PESTLE Analysis? PESTLE analysis, which is sometimes referred to as PEST analysis, is a concept in marketing principles. Moreover, this concept is used as a tool by companies to track the environment they’re operating in or are planning to launch a new project/product/service, etc. So, if

To evaluate a health care organization from a market-based perspective, you need information. Seeing how your organization is situated in the mar

Assignment Preparation

Assignment Directions

Stevens District Hospital Strategic-Planning Scenario

Background

Current Performance Analysis

Current Mission and Vision Statements

Previous Strategic Plan Review

Market Forces Affecting the Hospital

Volumes

Patients

Payment

Percentage of Population by Insurance

Employers

Physicians

Competitors

Technology

Regulatory Changes

Planning Components Explanation

Financial Summary

SWOT Analysis Worksheet

Strengths

Weaknesses

Opportunities

Threats

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