Arun Verma- Porter's Five Forces in Health Industry

In the healthcare field, there are forces that drive practice and develop change within an organization. There are both internal and external forces in which not one organization is immune to (Kotter, 1996). By establishing a vision of the company, a sense of purpose and direction is created, working towards change within the forces (Huyer, 2014). When people participate in a vision, they work towards a common goal and identify what needs to be changed in order to reach that vision. In this paper, a presentation of Banner Health will be discussed, along with its mission and stakeholders, driving forces, viability, as well as an analysis of forces, a response to change, a vision for change, and an evaluation of change.

My role in the industry revolves around being a leader and making sure the facility I work in runs smoothly and delivers the best care possible. I would like to maintain a position as an administrator to the facility or an assistant administrator. This job requires in helping to plan out functions in the facility, maintain motivation amongst all employees, ensuring that all employees are working to the best of their ability, correcting problems, make sure patients are getting the best care possible, holding meetings, taking assessments, etc. The job can be very stressful but the duties of this position are important to ensure that everyone knows what to do.

The healthcare industry has many issues. Three key issues in healthcare are access, cost, and quality. Each play a different role and each are critical to the healthcare system. Reforming the healthcare industry is an increasingly complex challenge due to multiple layers of legislation already in place and the number of different stakeholders in the industry. When approaching reform, both federal and state governments have proposed legislation that would take steps toward better healthcare systems (Whiteford, & Weissman, 2017). The questions that needs to be asked are; is this enough and will it really help the healthcare system?

The driving force of any business is that of competition; the healthcare industry is no different. The presence of competition provides a need to grow and continually offer quality services or products; however, the competition in the healthcare industry can be a very daunting at times. The cost of medical care is rising and patients are expecting a certain level of high-quality care due to the vast amount of information available to them. Patients are now armed with knowledge; they are true consumers who look for the best quality care for the very best price. This paper will discuss the

I totally agree with you that change is constant and we need to adapt and deal with it. The healthcare industry is becoming more demanding and the advancement in the information technology makes it more complicated, including the social media that can spread news like a virus. There are too many challenges within the organization such as improving quality of care by using benchmark standards, insufficient reimbursement, and changes related to insurance and government policy. “Change should not be viewed as a threat but as a challenge and a chance to do something new and innovative” (Marquis & Huston, 2015). I think you are heading in the right direction as a transformational leader for scoring so high on your self-assessment, and according

The Healthcare Industry is changing to drive change through a change arrangement. At the leader of this arrangement is institutionalization and partners. A partner is any individual, gathering or society that possesses a stake in the business and its exercises. It can incorporate proprietorship and property interests, legitimate interests, and duties, and moral rights. While institutionalization is the way toward executing and creating specialized standard. What 's more, institutionalization can augment similarity, interoperability, security, repeatability, or quality.

Currently, I am a Patient Services Coordinator in the healthcare industry. This industry often experiences Porter’s five forces: barriers to entry, bargaining power of suppliers, existing rivalry, bargaining power of buyers, and the threat of substitutes. The healthcare industry has many barriers to entry. The main barriers to entry in the healthcare industry include the huge capital requirements and adherence to the various policies developed by the government and other government agencies. Parnell (2004) note that government has set in place substantial regulatory requirements for healthcare organizations.

The healthcare sector is an overpopulated industry which increases the competition among providers. There are numerous areas of concern such as patient safety and satisfaction along with an optimal work environment for staff. Organizations who retain employees who display bad behavior is implying that their aim is not on quality care and safe workplace. It’s vital to have policies in place with the consequences to guarantee that the staff is working towards the objective of the company’s goals. Leaders and managers must stay abreast of employee conducts and provide corrective measures when appropriate. BNH has to begin the recruitment process now to replace the staff that was in violation of the company’s rules. The nursing home aims to provide

During this research I will discuss the challenges that the Healthcare Industry face and ways to mitigate these risks. It will also discuss security safeguards that will assist with preventing data breaches, from physical security up to network security. Protecting the organization data is the most important thing in a Healthcare facility. In the Healthcare industry, Health Insurance Portability and Accountability Act (HIPAA) has security rules that were established to protect individuals’ electronic personal health information (ePHI). There has been countless number of data breaches lately in healthcare facilities. They are at a much-much larger risk with the demand of healthcare facilities switching all of the data to an Electronic Health Records system. “Electronic Health Records is an electronic version of a patient’s medical history, that is maintained by the provider over time, and may include all of the key administrative clinical data relevant to that persons care under a particular provider, including demographics, progress notes, problems, medications, vital signs, past medical history, immunizations, laboratory data and radiology reports.” (Centers for Medicare & Medicaid Services, 2012) There has been a rule created called the “Breach Notification Rule” which I will explain in detail.

For the purpose of this project, I have chosen a topic that surrounds the healthcare industry. When a patient’s health is deteriorating, the first thought that comes to mind of the patient’s families and friends is to blame the healthcare professionals. The healthcare professionals in this case can be the patient’s physicians, surgeons, nurses, pharmacist and even the medical equipment technologist. Therefore, I have chosen my research topic surrounding the possibilities of positive recovery rate for non-compliant patients. The definition of patient compliance is defined by the Medical News Today website, “The ultimate aim of any prescribed medical therapy is to achieve certain desired outcomes in the patients concerned. However, despite all the best intention and efforts on the part of the health care professionals, those outcomes might not be achievable if the patients are non-compliant. Compliance is patient’s behaviors in terms of taking medication, following diets, or executing lifestyle changes that coincide with health care providers’ recommendations for health and medical advice.” (Compliance, n.d.)

Competitors might face increasing costs when firms deliberately increase the price of supplies or when competitors are forced to bid for remaining inputs. However, this does not mean it will increase competitor’s cost if supplies are available from alternative suppliers.

Supplier capital investment needed to manufacture parts limits bargaining power (i.e. cost to re-tool or cost of losing contracts).

If suppliers are limited, they have a greater opportunity to charge higher prices for raw materials, and they may also pose a threat of forward integration to the industry.  Similarly, if an industry has few buyers, or buyers can cheaply and easily change suppliers, they can make demands for less expensive higher quality products, causing impact to profit (Porter, 2008, p. 83).

The threat of substitutes is the availability of a product that the consumer can purchase instead of the industry’s product (Free management books, n,d ). A substitute product is a product that produced by other industry and offer similar benefits to the customer as the product produced by the firms within the industry. The threat of substitutes can affect the competitive environment for the firm in that industry and also influence the profitability of the industry. This threat affects profitability of the industry because the consumers can choose to purchase similar product from other industry to instead of the company’s product. Besides that, the more the close substitute product can make the industry more competitive and decrease the profit potential of the firm in the industry whereas the less the close substitute product can make the industry less competitive and

The threat of substitutes: where it refers to substitute product as those that are available in other industry which can also fulfil the need and want of the consumers. It can affect competition in an industry by placing an invisible ceiling on prices which companies within the industry can charge, due to the fact that if the cost of substitute is low then the consumers will tend to purchase substitutes, therefore limiting the prices that a company can place on certain items to gain maximum profit. For example, lemonade can be substituted for a soft drink. Generally, competitive pressures arising from substitute products increase as the relative price of substitute products declines and as consumer 's switching costs decrease.