Question

In this module, you learned about environmental analysis, both internal and external. For this assignment, you will be given a description of a fictitious healthcare organization - The Strengths, Weaknesses, Opportunities, and Threats will be described (in that order).

"Wealthy HealthCare Association"

This hospital based organization has AAA rated credit due to its strong financials. It has multiple hospital based facilities across the geographic area. They have strong ties to the community. Their weaknesses lie in that they do not have any investment in ambulatory based (lower cost) services. They do not employ any of their physicians. They also have low market share in surgical and imaging services.

The opportunities are to potentially employ physicians, and control referral patterns, invest in ambulatory services including imaging, surgery, and urgent care, and to potentially develop wellness services to keep people healthy.

There are several threats to the organization. The first is that there is a lot of competition from lower cost providers. Next, healthcare reform is going to move toward the idea of covered lives, where organizations will make money by being able to provide low cost services and keeping people healthy. They are also threatened by insurance companies that are steering patients to low cost providers that have a full continuum of services.

Use this information, and submit a TOWS matrix. This should be submitted in narrative format.

Your submission should be 600-750 words and include 2 APA references

Answer 1

Wealthy HealthCare Association

Tows matrix

Threats:

There is a lot of competition from lower cost providers

Healthcare reform is going to move toward the idea of covered lives

Insurance companies are steering patients to low cost providers that have a full continuum of services.

Opportunities:

Potentially employ physicians

Control referral patterns

Invest in ambulatory services including imaging, surgery, and urgent care

Potentially develop wellness services to keep people healthy.

Weaknesses:

No investment in ambulatory based (lower cost) services

Employ any of their physicians, no permanent

Low market share in surgical and imaging services

Strengths:

AAA rated credit due to its strong financials

Operates at multiple location

Strong ties to the community

Tows strategies

Strengths and Opportunities (SO) also called as “Maxi-Maxi" Strategy:

• The hospital has facilities at multiple locations; this is its strength and thus can establish protocols for patient’s referrals.

Strengths and Threats (ST) also termed “Maxi-Mini” strategy:

• It has high credit rating as have good financials; it can use it for entering into alliance with insurance companies for recommending them to patients.
• As it has stronger ties with community, use it to beat competition.

Weaknesses and Opportunities (WO) or “Mini-Maxi" Strategy:

• The opportunity is to employ physicians on regular basis for providing smooth patient services and kill wait time. Currently they do not have it. It focuses on customer focused strategy.
• Opportunity is in going for investment in full ambulatory services. At present it lacks in it. Product development according to Ansoff’s matrix.

Weaknesses and Threats (WT) or "Mini-Mini" Strategy:

• It could make alliance with companies providing surgical and imaging services to minimize its threats and overcome weakness. It is part of growth strategy in related products.

References:

https://www.mindtools.com/pages/article/newSTR_89.htm

https://www.business-to-you.com/swot-analysis/