HCS499 UOP WK 3: Benchmark Assignment SWOT Analysis SWOT Analysis Based on review of the performance analysis of Stevens District Hospital, consider what y
HCS499 UOP WK 3: Benchmark Assignment SWOT Analysis SWOT Analysis Based on review of the performance analysis of Stevens District Hospital, consider what you perceive to be the strengths, weaknesses, opportunities and threats for this hospital. Strengths and weaknesses are traits internal to the hospital, i.e. 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 two physician practices in your market. SWOT Analysis Review the SWOT Analysis PowerPoint® prior to completing this assignment. Based on the review of the Stevens District Hospital strategic planning 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 (i.e., 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 two physician practices in your market. Write a 700- to 1,050-word analysis that incorporates the key components of a SWOT analysis for the scenario described in Week One to generate a list of perceived strengths, weaknesses, opportunities, and threats. The analysis will include the following: Analyze the purpose of conducting the analysis in the context of the scenario.Analyze the limitations and advantages of conducting a SWOT analysis on your own (vs. with a group of stakeholders).Use the table provided to record your analysis of the information from the strategic planning scenario and generate two factors for each of the SWOT categories (strengths, weaknesses, opportunities, and threats). Cite at least 1 peer-reviewed, scholarly, or similar references to support your assignment. Submit your assignment. SWOT Analysis
Click on the speaker symbol on each slide
To hear the presentation
What is SWOT Analysis
Stands for Strengths, Weaknesses, Opportunities and
Threats
A tool to identify and summarize strengths,
weaknesses, opportunities and threats of a strategic
environment
Tool credited to Albert Humphrey, who led a research
project at Stanford University in the 1960s
Divides factors into internal and external factors and
positive and negative influences
(
Morrison, 2012)
Strengths
Positive tangible and intangible attributes, internal to the
organization
Includes capabilities of the organization, staff competencies,
financial resources, products and services, goodwill and
brand loyalty
Characteristics of the business that give it an advantage
over others in the industry
Examples: brand name, high quality scores, employee
loyalty, strong physician network
Weaknesses
Any characteristic that is a disadvantage compared to
others in the industry
Characteristic or factor that does not meet the standard they
should meet
Detract from the ability to reach goals and influence growth
Examples: Limited financial resources, lower quality scores,
lower patient perception of care, narrow physician network,
aging equipment, weak market image
Opportunities
External attractive factors
Market, competition, technology or industry factors
that could be leveraged as a positive growth factor
for the organization
Examples: Financial boom for area, growth in
market, new industries in region that would
supplement business, specialized physician group
opening in region
Threats
External factors that would cause a problem for the
business and place the operation at risk
Any factor that puts the profitability of the
organization at risk
Examples: New competitors in the market, changes
in governmental regulations, regional economic
downturn
How do we conduct a SWOT analysis?
Determine the why what is the purpose of the analysis
Determine the who who are the stakeholders that should
be involved
Determine the how Research and information gathering
Determine the where a non-threatening environment
Compile your list, refine and carry forward in to the strategic
planning process
After you have your list
A free form listing of thoughts of strengths, weaknesses,
opportunities and threats will be compiled based on
brainstorming
This listing must be sorted and items given some priority
Each section should be prioritized and limited to the top four
or five factors
The factors in each section can then be used to determine
your goals and objectives and the action steps to reach
those goals
Thank you
Reference
Morrison, M. (2012). History of the SWOT analysis. Retrieved from
History of the SWOT Analysis (brief) [Originally SOFT Analysis]
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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 located in Jefferson City, 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.
Current Performance Analysis
Mission and Vision
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
womens services. Currently, the hospital employs three family practice physicians, one obstetrician, one medical oncologist, and one non-invasive
cardiologist.
Previous Strategic Plan Review
Goal
Accomplishments
Increase market share by recruiting three family practice
physicians.
The hospital was able to recruit only one family practice physician to increase
primary care market this past year. The limited number of state medical school
graduates makes local recruitment difficult.
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Stevens District Hospital Plan
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Page 2 of 8
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
30000
26292
25000
20930
20000
15000
10000
5000
6365 7284
4458 5147
405
0
Admission
ER visits
Last year
472
This year
Deliveries
Surgeries
Patients
The continued growth of chronic disease will require changes to the care management model.
Percent of Population by Age
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Stevens District Hospital Plan
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Page 3 of 8
Five Years Ago
Five Years From Now
Under 18
24
18
18 to 44
46
32
45 to 65
26
30
Over 65
4
20
More than 53 percent of residents have at least some college education, with just over 29 percent having an associate, bachelors, or graduate degree.
More than 90 percent of residents have at least a high school diploma.
The average unemployment rate in the county is 9.9 percent:
Market Share Distribution Percentage With a Major Competitor
Five Years Ago
Last Year
Stevens District Hospital
48
35
Competitor
30
43
Out of County Hospitals
22
22
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Stevens District Hospital Plan
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Patient Origin by Zip Code
20%
96101 is Stevens District Hospital
zip code
16%
94963 is major competitor hospital
zip code
42%
12%
Increases in the percent of population with chronic disease and contributing factors will change significantly over the coming five years.
Chronic Disease Predictions
5 yrs ago
26%
5 yrs ahead
22%
15%
12%
12%
5%
Obesity
Diabetes
Heart Disease
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Stevens District Hospital Plan
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Page 5 of 8
Payment
There will be continued focus on pay for performance and increased wellness programs. The Affordable Care Act is creating 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.
Current Payer Mix
Uninsure
d, 9%
Other, 2%
Projected Payer Mix 5years
Medicaid,
35%
Commerc
ial, 24%
Medicare
, 30%
Percentage of Population by Insurance
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 Affordable Care Act 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.
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Stevens District Hospital Plan
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Page 6 of 8
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
Key Areas of Competition
New Programs and Facilities
Risk to Market Share
Significant renovation of core
hospital to update aesthetics
Added new wide-bore MRI
machine last year
Reaches the 95th percentile in
five of six HCAHPS categories
Drawing patients to newer facility
Accommodates heavier patients
Patient perception of higher quality and
patient satisfaction
Drawing patients out of primary and
specialty care at Stevens
Ability to cash flow projects
Primary Competitors
Hanover County
Hospital
Facility upgrade
Quality scores
Medical Center in
County South of
Stevens
Physician clinics
Financial stability
E-visits with specialists
Low debt and high cash on
hand
Low acuity office visits
Pharmacy added instant clinic
in north end of county 6
months ago
Secondary Competitors
Retail Pharmacy
Instant Clinic
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Loss of patients from primary care
physicians practices
Stevens District Hospital Plan
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Page 7 of 8
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 Affordable Care Act 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. Stevens District Hospital struggles with accommodating patient scheduling requests to
establish care with a primary care physician.
Plan
Planning Components Explanation
Objective
Actions
Organization goals that cover broad
strategic issues, such as quality,
finances, growth
Broad action items that address
organizational goals, such as increasing
market share, increased use of
technology, increased physician
satisfaction
Action item that meets an objective, such as
implementing EMR, renovating physician
lounge, increasing marketing for specific
products
Examples
Definition
Goal
Improve HCAHPS scores by 5%
Improve operating margin by 3%
Increase market share in 96103 zip
code by 5%
Improve emergency department
patient satisfaction survey by 5%
Grow urgent care visits by 10%
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Implement urgent care center in north zip
code
Purchase tablets for physicians for EMR
rounding
Measurement
Stevens District Hospital Plan
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Page 8 of 8
% increase in operating margin
% change in market share
% change in ED satisfaction survey
% change in urgent care visits
Financial Summary
This year
Last year
343,737,280
344,726,245
16,846,309
20,311,534
360,583,589
365,037,779
Salaries and benefits
192,053,379
182,853,245
Supplies and other expenses
130,173,477
135,560,131
18,969,799
20,644,157
2,695,623
2,226,437
628,184
1,182,308
344,520,462
342,466,278
16,063,127
22,571,501
Operating Revenues
Net revenues from services to patients
Other operating revenues
Total operating revenues
Operating Expenses
Depreciation
Interest
Foundation
Total operating expenses
Income from operations
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Number of patient visits at new urgent care
center
% increased use of EMR
HCS/499 v4
`
SWOT Analysis
Based on review of the performance analysis of Stevens District Hospital, consider what you perceive to
be the strengths, weaknesses, opportunities and threats for this hospital.
Strengths and weaknesses are traits internal to the hospital, i.e. 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 two physician practices in your market.
SWOT Analysis
Review the SWOT Analysis PowerPoint® prior to completing this assignment.
Based on the review of the Stevens District Hospital strategic planning 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 (i.e., 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 two physician practices in your market.
Write a 700- to 1,050-word analysis that incorporates the key components of a SWOT analysis for the
scenario described in Week One to generate a list of perceived strengths, weaknesses, opportunities,
and threats. The analysis will include the following:
Analyze the purpose of conducting the analysis in the context of the scenario.
Analyze the limitations and advantages of conducting a SWOT analysis on your own (vs. with a
group of stakeholders).
Use the table provided to record your analysis of the information from the strategic planning
scenario and generate two factors for each of the SWOT categories (strengths, weaknesses,
opportunities, and threats).
Cite at least 1 peer-reviewed, scholarly, or similar references to support your assignment.
Submit your assignment.
Table 1: SWOT Analysis
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived strength (internal)
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SWOT Analysis
HCS/499 v4
Page 2 of 2
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived strength (internal)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived weakness (internal)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived weakness (internal)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived opportunity (external)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived opportunity (external)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived threat (external)
Analysis of existing information from Stevens
District Hospital strategic planning scenario
Perceived threat (external)
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