Effective strategic plan is to assess current factors which influence the organizations directional strategies
The art of an effective strategic plan is to assess current factors which influence the organizations directional strategies. One tool used in the planning process is the SWOT analysis, which identify internal (strength and weaknesses) and external (opportunities and threats) factors. Using the SWOT and available resources the healthcare administrator can assess potential risks and barriers and consider the impact of future strategies.
STRENGTHS
Support from the government
Physician integration and collaboration/Better coordination of care
Increased patient-centered approach
Flexibility in forming ACOs
Shared decision making
Evidence-based clinical outcomes
“Strength in numbers” (i.e. shared responsibility)
Consolidation of organizational resources
Payment model that emphasizes improved quality & efficiency
WEAKNESSES
Insufficient time to develop needed infrastructure to support ACOs
Insufficient/lack of technological infrastructure
Additional administrative burdens/disruption to operations
High cost and time commitment of developing an ACO
Requires the involvement and commitment of all healthcare stakeholders
OPPORTUNITIES
Shared savings and significant incentive potential for physicians
Community/population benefits as a result of better coordination of care
Potential to significantly reduce medical error & waste
Reduction in cost and improved quality standards
Increasing market share opportunities through expansion of scope strategies (vertical integration, product development, etc), and market entry strategies (mergers, alliances, acquisitions)
THREATS
Risk of treating patients with unpreventable conditions and outcomes
Ensuring patient adherence and accountability
Policy and legislative restrictions
Provider financial risk
No guarantee of immediate ROI
Increased competition based on large group market power
Shared responsibility
Lack of regulatory clarity surrounding legal and antitrust issues
IF YOU USE ANY REFERENCE PLEASE SITE THEM
Using the completed SWOT respond to the following prompts:
1.Internal factors are those which the organization has control over and can change. Discuss 2 weaknesses from the SWOT table above, and recommend an improvement for each which would turn the weakness into a strength.
2.Analyze the opportunities, external factors we cannot change and identify 2 which can be used to enhance the organization.
3.Recommend how to capture the 2 opportunities and the expected outcome of this new opportunity
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