\nReview the SWOT Analysis Microsoft? PowerPoint? prior to completing this assignment. Based on the Community Hospital scenario located in this week’s required reading, conduct a SWOT analysis to generate a list of perceived strengths, weaknesses, opportunities, and threats for the health care organization. Strengths and weaknesses are traits internal to the health care organization (e.g., strong physician loyalty to hospital, aging building, and availability of financial resources). Opportunities and threats are external to the health care organization (e.g., a mall facility available for lease or a competitor organization opening two physician practices in your market). Use the SWOT Analysis worksheet provided to complete this assignment. Write a 700- to 1,400-word analysis that incorporates the key components of a SWOT analysis for the scenario described above to generate a list of perceived strengths, weaknesses, opportunities, and threats. The analysis will include the following: Analyze how this SWOT analysis will be used to form a final recommendation in the full business plan. Analyze the limitations and advantages of conducting a SWOT analysis on your own (versus 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.<\/p>\n
\nHCS 449 Capstone
\nBusiness Plan Scenario<\/p>\n
Background<\/p>\n
Community Hospital is a 180-bed acute care hospital that is qualified as a not-for-profit facility. The hospital was originally a county-owned facility and transferred status to an independent facility three years ago. The hospital receives no external funding from governmental 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 Bedford, which is a city of 50,000 people with 80,000 people in the regional market. The hospital provides a general range of acute care services including medical and surgical, rehab and emergency care. The president of the hospital has asked you to evaluate the feasibility of establishing an off-site urgent care center at a local mall. You will use data provided in this scenario to make your decisions and recommendations. <\/p>\n
Current Performance Analysis
\nMission and Vision<\/p>\n
Our Mission- To improve health by providing high-quality care through a comprehensive range of services.
\nOur Vision- Community 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. <\/p>\n
Market Forces Affecting Hospital<\/p>\n
Volumes<\/p>\n
\nPatients<\/p>\n
The continued growth of chronic disease will require changes to the care management model.
\nPercent of population by age:
\n\tFive years ago\tFive years from now
\nUnder 18\t24\t18
\n18 to 44\t46\t32
\n45 to 65\t26\t30
\nOver 65\t4\t20<\/p>\n
Over 53% of residents have at least some college education, with just over 29% possessing an associates, bachelors, or graduate degree. Over 90% of residents possess at least a high school diploma.
\nThe average unemployment rate in the county is currently 9.9%:
\nMarket share distribution percentage with major competitor:
\n\tFive Years Ago\tLast Year
\nCommunity Hospital\t48\t35
\nCompetitor\t30\t43
\nOut of County Hospitals\t22\t22<\/p>\n
Patient Origin by Zip Code<\/p>\n
\nPayment <\/p>\n
Continued focus on pay-for-performance and increased wellness programs. Affordable Care Act creating more covered lives, however often with high deductibles.
\nThe median household income for county residents is $59,548. On average, households in 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.<\/p>\n
\nAs 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.
\nEmployers
\nExpected growth in large employers with addition of automotive factory in northwest sector of county.
\nPhysicians
\nContinued shortage of medical staff, especially in orthopedics, oncology, and primary care will require increased recruitment efforts.
\nCompetitors
\nOther hospital in county, Hanover County Hospital, has an updated facility, which has drawn more market share to their facility.<\/p>\n
Competitor\tKey Areas of Competition\tNew Programs and Facilities\tRisk to Market Share
\nPrimary Competitors
\nHanover County Hospital\tFacility upgrade<\/p>\n
\nQuality Scores\tSignificant renovation of core hospital to update aesthetics<\/p>\n
Added new wide-bore MRI machine last year<\/p>\n
Reaching 95% percentile in five of six HCAPS categories
\n\tDrawing patients to newer facility<\/p>\n
Accommodates heavier patients<\/p>\n
Patient perception of higher quality and patient satisfaction
\nMedical Center in county south of Stevens\tPhysician clinics<\/p>\n
\nFinancial stability\tE-visits with specialists<\/p>\n
\nLow debt and high cash on hand\tDrawing patients out of primary and specialty care at Stevens<\/p>\n
Ability to cash flow projects
\nSecondary Competitors\t\t
\nRetail pharmacy instant clinic\tLow acuity office visits\tPharmacy added instant clinic in north end of county 6 months ago\tLoss of patients from primary care physicians practices<\/p>\n
Technology
\nAddition of e-visits by large hospital system in adjoining county has drawn more market share to their physician practices.
\nRegulatory Changes
\nHealth 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. Community Hospital currently struggles with accommodating patient scheduling requests to establish care with a primary care physician.<\/p>\n
Financial summary<\/p>\n
\t This year \t Last year
\nOperating Revenues\t\t
\nNet revenues from services to patients\t 343,737,280 \t 344,726,245
\nOther operating revenues\t 16,846,309 \t 20,311,534
\nTotal operating revenues\t 360,583,589 \t 365,037,779 <\/p>\n
Operating Expenses\t\t
\nSalaries and benefits\t 192,053,379 \t 182,853,245
\nSupplies and other expenses\t 130,173,477 \t 135,560,131
\nDepreciation\t 18,969,799 \t 20,644,157
\nInterest\t 2,695,623 \t 2,226,437
\nFoundation\t 628,184 \t 1,182,308
\nTotal operating expenses\t 344,520,462 \t 342,466,278 <\/p>\n
Income from Operations\t 16,063,127 \t 22,571,501 <\/p>\n
\nUrgent Care Location Options<\/p>\n
Location One is located at a strip mall on the north side of town with a twenty-minute drive to the main Community Hospital campus. The potential lease space is a vacant storefront that previously housed a video store. The building is mostly an empty shell that would require $30,000 in renovation to create acceptable medical office space with four exam rooms.
\nLease cost of location is $3,000 per month for a total of 1,800 square feet. Utilities are not included in the lease rate.<\/p>\n
Location Two is located at a strip mall location on the south side of town with a thirty-minute drive to the main Community Hospital campus. The lease space is a vacant grocery store. The building is mostly an empty shell that would require $35,000 in renovation to create acceptable medical office space with four exam rooms. However, the total space is very large, at 5,000 square feet, so there are other options available that could also be housed in that space.
\nLease cost of location is $6,500 per month for a total of 5,000 square feet. Utilities are not included in the lease rate. The owner is not willing to subdivide the space for lease by multiple parties. <\/p>\n","protected":false},"excerpt":{"rendered":"
Review the SWOT Analysis Microsoft? PowerPoint? prior to completing this assignment. Based on the Community Hospital scenario located in this week’s required reading, conduct a SWOT analysis to generate a list of perceived strengths, weaknesses, opportunities, and threats for the Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-236362","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/236362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=236362"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/236362\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=236362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=236362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=236362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}