Strategic Requirements Of Modern Healthcare Essay

A SWOT analysis is a tool used to identify the strengths, weaknesses, opportunities and threats of an organization. A SWOT model measures what an organization can or cannot do as well as the possible opportunities and threats. This is done by taking data from the organization’s environment, analyzing the information and separating it into the internal (strengths and weaknesses) and external (opportunities and threats). When this is completed the analysis can create a plan for the organization to achieve its goals, and identify what difficulties must be overcome to attain

This review provides an in-depth strategic SWOT analysis of the company’s businesses and operations in the areas of internal strengths and weaknesses and external opportunities and threats. (Sector Publishing Intelligence)

SWOT analysis is a study of the Strengths and Weaknesses (internal factors) of an organization as well as, the study of the Opportunities and Threats (external factors) of an organization (Mind Tools, 2016). After learning the strengths and defining the weaknesses of an organization, the threats can be eliminated making for more opportunities. A strength of CVS is the “pharmacy segment has a diverse network with 7,152 Long drug stores and pharmacy stores generating 68% of the total revenue (Kasi, 2017).” If CVS could team with Wal-Mart pharmacy, the revenue would increase. A weakness of the company is the security. Many robberies have been reported due to the organization and security measures (Kasi, 2017). If the reorganization of the

Healthcare organization is constantly making changes to operate at their optimal functional level and budget. There are different ways it can be determined what and where adjustments are needed to be made within the organization. A common technique or strategic plan involved is the SWOT analysis. This technique involves a discussion about the strengths, weakness, opportunities and threats in an

Aetna is one of the largest health insurance companies in the United States; with more than $58 billion in revenue and servicing more than 46 million people, they are a leading provider of medical, pharmacy, dental, behavioral health, and group life just to name a few (Aetna, 2015b). The core business for Aetna in 2014 was commercial managed care and health insurance products in the United States. This paper will focus on Aetna and provide a detailed SWOT analysis. In addition, key goals that can be used for strategic planning with be discussed along with defining Aetna’s competencies and competitive advantages.

The SWOT is used by organizations, including healthcare to evaluate their internal Strengths, Weaknesses, Opportunities, and Threats. With the completion of the analysis, the organization could develop their goals to achieve their objectives (Capella University, 2016).

Another approach to strategy development begins with an analysis of external and internal factors, followed by some visioning, then planning. Including in the analysis phase is often a “SWOT,” a thorough examination of internal Strengths and Weaknesses, as well as external Opportunities and Threats. SWOTs are praised for capturing both the positive (strengths and opportunities) and negative (weaknesses, threats); and organizations embrace this approach with the hope of gaining a “balanced” analysis of itself, inside and out (Hetzel and Silbert, 2007).

An organization such as the Oregon Association of Hospitals and Health Systems (OAHHS) is established to help Oregon hospitals understand how to best serve their unique communities, while continuing to reach state-wide goals. OAHHS currently has a primary goal of helping Oregon hospitals to reach the Triple Aim determined by healthcare reform: improving the quality of patient care and population health, while reducing the per capita costs. This type of organization completes ongoing analyses of their business, on a regular basis to ensure that they are communicating the most up-to-date information to the hospitals of their state. A SWOT analysis is one type on analysis that can help them to determine internal and external factors, including environmental and marketing challenges that may need addressed.

The principle of a strategic plan is to define how the organization is making a decision and in what direction to pursue the strategy. This approach aids the team in focusing on its future. The policy will cover a five-year plan. A Feasible plan can only result in careful attention to the organization’s performance objectives and a detailed analysis of the internal and external environments (Sadeghi, 2013). A SWOT analysis is performed to allow the managers to consider both the inner and outer conditions of the organization. When an organization is planning an elaborate process, targeted at the future, irrespective of its nature, the managerial, economic, technical or technological, etc. necessitates, in advance, a detailed analysis of the organization’s current state. Or its procedural components or basic levels on which it will occur (Verboncu, 2016). The planning starts by assessing the current situation of the Cleveland Clinic’s business and environmental factors. A SWOT analysis will bring awareness of the strengths, weaknesses, opportunities, and threats. “The SWOT analysis helps the managers to formulate a strategic plan that considers the organizational ability to deal with whatever situation that is current. The planning process is ongoing, to continuously deal with changes in the environment and competitive conditions” (Mathis, 2011, p.39). The healthcare industry and its competitors are having a hard time with finances, but the Cleveland Clinic has substantial financial gains, a stellar record and excellence leadership, operational efficiencies, its human assets and human resource management all are a strength. The weaknesses are lower levels of patient satisfaction and efficacy, limitation of geographical growth, communication with other healthcare organizations, and transitioning to

This SWOT analysis is based in four general elements, such as economy, technology, healthcare reform, and personalized care. Within these elements, characteristics of this practice fit under the four categories of the SWOT grid, which are: Strengths, weaknesses, opportunities and threats (Berkowitz, 2011). Under each of these categories, characteristics of the business are distributed according to their significance, as

To provide Kaiser Permanente’s internal assessment as an organization we use a strategic S… W… O… Theory (SWOT) analysis that attempts to grain a comprehensive insight into Kaiser’s corporate strategy and key

Strengths-Weaknesses-Opportunities-Threats or SWOT analysis is a popular tool for business marketing because it analyzes and accesses alternatives for a complex decision situation (Helms & Nixon, 2010). It offers internal and external evaluation and is a great start for strategic decision-making. When a dental office is struggling with reaching their target patient amount and financial goals, using the SWOT framework can prove insightful and increase a company’s competitive advantage (Brooks, Heffner & Henderson, 2014). This particular practice had many strong attributes, but from the SWOT analysis also had many areas it could improve in.

A SWOT is often seen as the last step of strategic planning, where analyses are compiled for a Board of Directors to work from, which is completely acceptable in the healthcare environment, as analysis occur through many methods (van Wijngaarden, Scholten, & van Wijk, 2010). Currently, an internal strength of PMH, in which they are extremely successful at controlling, is their ability to capitalize on the strategic planning process. PMH recognizes that with constantly changing federal, state, and local laws, it is imperative to keep their mission and vision in the forefront, while introducing shorter-term strategic plans to address local needs as they develop. This organization has been proactive in the community by creating a rural health clinic, conducting a health needs assessment as recent ago as 2013, and are now in the planning stages of creating a satellite healthcare clinic to further reduce the burden to the hospital, creating more available and desired services for the community, and increasing revenue.

Businesses in the same industry compete against each other to meet their organization goals and sustain competitive advantage over one another. But to meet those goals, it’s important for businesses to analyze their internal and external environment to allow them to come up with new business strategies beneficial to the business. Firms can use SWOT as a starting point. SWOT is a basic technique that can be used by business owners to analyze their business and industry condition (Dess, G., Lumpkin G.T., Eisner, A., McNamara, G, 2013). Using SWOT will help business owners understand the strengths, weaknesses, opportunities and threats of their business. It would help them analyze and come up

The focus of the SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. SWOT analysis groups key pieces of information into two main categories; internal factors and external factors. The internal factors are the strengths and weaknesses that are internal to the company while the external factors are the opportunities and threats that presented by the external environment. The internal factors are determined by their impact on the company’s objectives. What may represent strengths with respect to one objective may be weaknesses for another objective. The external factors may include technological change, legislation, cultural changes, and changes in the marketplace or competitive position (Wood, 2008).