SWOT Analysis HCS/499 Version 4 University of Phoenix Material 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. Click the Assignment Files tab to submit your assignment. Table 1: SWOT Analysis Analysis of existing information from Stevens District Hospital strategic planning scenario Analysis of existing information from Stevens District Hospital strategic planning scenario Perceived strength (internal) Perceived strength (internal) Copyright © 2017 by University of Phoenix. All rights reserved. 1 SWOT Analysis HCS/499 Version 4 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) Copyright © 2017 by University of Phoenix. All rights reserved. 2 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 1960’s • 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 https://rapidbi.com/history-of-the-swot-analysis/ HCS 499 Capstone 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 women’s services. Currently, the hospital employs three family practice physicians, one obstetrician, one medical oncologist, and one non-invasive cardiologist. Copyright © 2017 by University of Phoenix. All rights reserved. Previous Strategic Plan Review Goal Increase market share by recruiting three family practice physicians. Accomplishments 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. 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 4458 6365 5147 405 7284 472 0 Admission ER visits Deliveries Last year Surgeries This year Copyright © 2017 by University of Phoenix. All rights reserved. Patients The continued growth of chronic disease will require changes to the care management model. Percent of Population by Age Under 18 18 to 44 45 to 65 Over 65 Five Years Ago 24 46 26 4 Five Years From Now 18 32 30 20 More than 53 percent of residents have at least some college education, with just over 29 percent having an associate, bachelor’s, 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. Stevens District Hospital Competitor Out of County Hospitals Five Years Ago 48 30 22 Last Year 35 43 22 Copyright © 2017 by University of Phoenix. All rights reserved. Patient Origin by Zip Code 96101 is Stevens District Hospital zip code 94963 is major competitor hospital zip code Increases in the percent of population with chronic disease and contributing factors will change significantly over the coming five years. Copyright © 2017 by University of Phoenix. All rights reserved. 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 Projected Payer Mix 5years Copyright © 2017 by University of Phoenix. All rights reserved. Uninsured, 9% Other, 2% Medicaid, 35% Commercial, 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. 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 Copyright © 2017 by University of Phoenix. All rights reserved. Primary Competitors Hanover County Hospital Facility upgrade Significant renovation of core hospital to update aesthetics Quality scores Added new wide-bore MRI machine last year Drawing patients to newer facility Accommodates heavier patients Patient perception of higher quality and patient satisfaction Reaches the 95th percentile in five of six HCAHPS categories Medical Center in County South of Stevens Physician clinics E-visits with specialists Drawing patients out of primary and specialty care at Stevens Financial stability Low debt and high cash on hand Ability to cash flow projects Low acuity office visits Pharmacy added instant clinic in north end of county 6 months ago Loss of patients from primary care physicians’ practices Secondary Competitors Retail Pharmacy Instant Clinic 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. Copyright © 2017 by University of Phoenix. All rights reserved. Measurement Examples Definition Plan Goal Organization goals that cover broad strategic issues, such as quality, finances, growth Planning Components Explanation Objective Broad action items that address organizational goals, such as increasing market share, increased use of technology, increased physician satisfaction Actions Action item that meets an objective, such as implementing EMR, renovating physician lounge, increasing marketing for specific products - 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% - Implement urgent care center in north zip code - Purchase tablets for physicians for EMR rounding - % increase in operating margin - % change in market share - % change in ED satisfaction survey - % change in urgent care visits - Number of patient visits at new urgent care center - % increased use of EMR Financial Summary This year Last year Operating Revenues Net revenues from services to patients Copyright © 2017 by University of Phoenix. All rights reserved. 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 Other operating revenues Total operating revenues Operating Expenses Depreciation Interest Foundation Total operating expenses Income from operations Copyright © 2017 by University of Phoenix. All rights reserved. 
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