Healthcare Organization SWOT

Total Length: 2433 words ( 8 double-spaced pages)

Total Sources: 11

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Introduction

The main objective of this assignment is to conduct a SWOT analysis for a healthcare organization. Essentially, SWOT analysis is a beneficial framework for scrutinizing an organization’s strengths and weaknesses, and the opportunities and threats experienced. It is beneficial in being aware of the weaknesses and emphasizing on the strengths, alleviating threats, and capitalizing on the opportunities accessible. SWOT analysis lays emphasis on the internal factors of an environment, which are the strengths and weaknesses and the external factors of an environment, which are the opportunities and threats (Hill and Jones, 2011). Notably, these strengths, weaknesses, opportunities, and threats ought to be examined in relation to the needs and competition within the market. Basically, SWOT analysis enables the company to ascertain its strong suits and the areas that necessitate enhancements (Hill et al., 2014). The healthcare organization selected in Cleveland Clinic. It is a healthcare organization that was founded in 1921 and is situated in Cleveland in the state of Ohio. It has since then grown to be one the biggest and most renowned hospitals in the nation. The mission of the organization is to provide better healthcare for the sick individuals, examine into their problems and advance education for the physicians and nurses (Cleveland Clinic, 2018).

SWOT Analysis

The following analysis is the SWOT analysis for Cleveland Clinic.

Strengths

Weaknesses

1. Brand name

2. Status

3. Ethics

4. Efficacious Quality Management

5. Constant Innovation

1. Complexity

2. High cost of health care

3. Lack of standardization

4. Ineffective documentation practices

5. Use of different software

6. Lack of standard patient charge master

Opportunities

Threats

1. Mergers and Acquisition

2. Bargaining Power

3. Organizational Improvement

4. IT alignment

1. Poor economy

2. Change in payment structure

3. Decreased monitoring

4. Ambiguity in the future direction

5. New regulations

Strengths

Strengths delineate what an entity prospers at and separates it from the rivals in the market place. Some of these strengths comprise of aspects such as strong brand, loyal consumer base, distinctive technology and others. The following are the strengths of Cleveland Clinic.

1. Brand name

One of the key strong suits of this healthcare organization is its brand name. Cleveland Clinic has grown to become a renowned brand name not only in the United States but across the globe. Aside from having a huge consumer base, the company is able to charge greater prices on its product offerings for the reason that consumers place extra value in its brand name.

2. Status

Cleveland Clinic has a reputable status with respect to healthcare provision. Notably, it is ranked as the best hospital in the entire state of Ohio and also the Cleveland Metropolitan area. In the same manner, the hospital is ranked as the second best health care organization in the nation based on reports. This implies that patients are inclined to seek medical services from the healthcare organization. In the same manner, physicians are inclined to work within such a renowned hospital.

3. Ethics

Another strong suit of the healthcare organization is ethics. Notably, the Ethisphere Institute has ranked Cleveland Clinic as one of the most ethical corporations in the globe. Specifically, the organization has been ranked sixth for the past 8 years. This prize shows the organization’s pledge to undertake what is right, whether it is for the caregivers, the patients, the community or for the organization as a whole.
Furthermore, the healthcare organization is devoted to transparency, social responsibility, environmental stewardship and also ethical decision making in all aspects of the entity. In recent years, Cleveland Clinic has set up programs that manage possible conflicts of interest, provide transparency on the industry associations of physicians and researchers, openly report clinical results and promote ecologically friendly building and sustainability programs (Cleveland Clinic, 2018).

4. Efficacious Quality Management

The Cleveland Clinic has made significant endeavors to ensure there is effective quality management and patient safety. Specifically, the healthcare organization has developed a Quality and Patient Safety Institute. The institute basically lays emphasis on reconnecting quality and patient safety with clinical care. This working together supports the devotion of Cleveland Clinic’s health system to quality and patient care, which is in line with key healthcare initiatives across the world. Cleveland Clinic has continuously been a strong supporter of notifying individuals regarding about specific data associated to finding quality hospital care (Nadzam et al., 2005). The healthcare organization believes that knowledgeable patients have the capacity to participate better in their individual care. Furthermore, the hospital offers comprehensive information and data to assist patients and their physicians make well-versed decisions about treatment for a wide-range of medical diseases and conditions (Cleveland Clinic, 2018).

5. Constant Innovation

Technology continues to advance in a significantly rapid rate, which facilitates the company in better ways of making improved and more effective product offerings

Innovation is another major strength of Cleveland Clinic. The healthcare organization has a culture of innovation that naturally cultivates and advances a significant extent of discussion regarding cutting edge technologies that change the healthcare sector as a whole and those that will have significant impact. Imperatively, the clinicians and researchers at Cleveland Clinic have major zeal for ensuring the patients get the best care through the state of the art medical technologies. Furthermore, these clinicians and researchers incessantly work towards unveiling new technologies and capitalizing on them to ensure that the medical care rendered to patients is of high quality (Spitzer, 2017).

Weaknesses

Weaknesses hamper a firm from performing are attaining its optimum level. Basically, these are the areas in which the organization needs to improve in order to continue being competitive and succeed within the marketplace. The following are the weaknesses of Cleveland Clinic.

1. Complexity

Cleveland Clinic as a whole is a massive intricate health care system comprising of numerous areas of disconnect. This results in ineffective provision of health care service because such disconnect results in lengthier patient waiting to obtain assistance, longer patient stays and also mix ups in processes and procedures.

2. High cost of health care

One of the shortcomings takes into account the high cost of healthcare. This is especially linked to the health care services rendered through expensive procedures such as imaging and laboratory testing. This deters some patients from seeking care from the hospital. In addition, the increasing cost of healthcare in the United States is negatively hampering the health care organizations. This is largely for the reason that patients are less inclined to visit hospitals owing to the high expenses that they will be forced to pay.

3. Lack of standardization

Another major drawback is the lack of standardization of healthcare equipment and supplies. This is in the sense that throughout the health system, it is possible to find different system hospitals paying differing prices for the similar product or equipment from the similar vendor. At.....

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References

Brown, B., & Crapo, J. (2014). The key to transitioning from fee-for-service to value-based reimbursement. Health Catalyst.

Cleveland Clinic. (2018). About the Quality & Patient Safety Institute. Retrieved 12 September, 2018 from: https://my.clevelandclinic.org/departments/patient-experience/depts/quality-patient-safety/about

Cleveland Clinic. (2018). Cleveland Clinic Named One of World’s Most Ethical Companies. Retrieved 12 September, 2018 from: https://newsroom.clevelandclinic.org/2018/02/12/cleveland-clinic-named-one-of-worlds-most-ethical-companies/

Deloitte. (2018). Hospital M&A: When done well, M&A can achieve valuable outcomes. Retrieved 12 September, 2018 from: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/life-sciences-health-care/us-lshc-hospital-mergers-and-acquisitions.pdf

Hill, C. W., Jones, G. R., & Schilling, M. A. (2014). Strategic management: theory: an integrated approach. Cengage Learning.

Hill, C., & Jones, G. (2011). Essentials of strategic management. Nelson Education.

Jetley, R., Sudarsan, S., Sampath, R., & Ramaswamy, S. (2013, February). Medical Software–Issues and Best Practices. In International Conference on Distributed Computing and Internet Technology (pp. 69-91). Springer, Berlin, Heidelberg.

Kim, M. O., Coiera, E., & Magrabi, F. (2017). Problems with health information technology and their effects on care delivery and patient outcomes: a systematic review. Journal of the American Medical Informatics Association, 24(2), 246-250.

Nadzam, D. M., Atkins, P. M., Waggoner, D. M., & Shonk, R. (2005). Cleveland clinic health system: A comprehensive framework for a health system patient safety initiative. Quality Management in Healthcare, 14(2), 80-90.

RevCycle Intelligence. (2018). The Role of the Hospital Chargemaster in Revenue Cycle Management. Retrieved 12 September, 2018 from: https://revcycleintelligence.com/features/the-role-of-the-hospital-chargemaster-in-revenue-cycle-management

Spitzer, J. (2017). Cleveland Clinic lists top 10 medical innovations to shape 2018. Vecker Hospital Review. Retrieved 12 September, 2018 from: https://www.beckershospitalreview.com/healthcare-information-technology/cleveland-clinic-lists-top-10-medical-innovations-to-shape-2018.html
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