Competitive Analysis: The St. Mark's Hospital

1202 Words3 Pages
bulb-icon

Recommended: Why strategic planning is necessary in health care organization

The strategic plan is highly correlated to the fundamental success of an organization and offers detailed guidance for achieving the mission and vision. The St. Mark’s Hospital (STMH) administration and leadership created a three year strategic plan in conjunction with employee contribution and feedback. The mission, vision and goals have not changed throughout the years, but the strategic goals have altered over time to adapt to the ever-changing field of healthcare.
The purpose of this paper is to discuss STMH’s goals, strategic thinking and key stakeholders, organizational-level strategy, competitive analysis, directional strategies, adaptive strategy, and value –added services.
Goals, Strategic Thinking, and Key Stakeholders
STMH defined …show more content…

In order to assure organizational success, a competitive analysis is vital to perform. The framework of an effective market strategy should involve identifying the surrounding groups of organizations that can be distinguished from others, patterns that occur in the market, and the competitive level that occurs within and among them (Ruzo, Barreiro, & Losada, 2006). The identified competitors are Salt Lake Regional Medical Center (SLRMC) and Intermountain Healthcare (IHC). Both organizations are accredited by The Joint Commission (TJC) and provide identical services: cardiology, critical care, gastrointestinal (GI), orthopedic, neurology, neurosurgery, pulmonary, bariatric, men’s health, women’s services: labor and delivery, obstetrics, and gynecological, newborn, oncology, rehabilitation, and behavioral/mental health. The differences include the number of inpatient beds (SLRMC has 158, STMH has 317, and IHC has 220) and STMH has additional services which the other two facilities do not …show more content…

The STMH vision, mission, and core values have not changed since its initial conception. The vision is to be Utah’s finest hospital. The Mission is to provide care for patients in harmony with our long tradition of quality and compassion. The core values include putting the patient first and all else will follow, serving the needs of others with compassion, doing the right thing with the right attitude (integrity), and being the teammate co-workers trust and value. The strategic goals are the all-encompassing outcomes that the organization practices to achieve its mission and vision (Ginter, Duncan, & Swayne, 2013). STMH stated strategic goals are to increase and focus on patient experience, network capture, service lines, managed care, and efficiency of

Show More
Related

  • Amedisys Case Analysis

    612 Words  | 2 Pages

    According to Amedisys (2015), the organizations strategic goals include maximizing clinician efficiency by simplifying processes and procedures, improving patient care coordination through collaborative care technology,

    Read More

  • Coastal Medical Center Swot Analysis Paper

    1586 Words  | 4 Pages

    Background Information In implementing a strategic plan for Coastal Medical Center, our consulting team has conducted many analyses and formed numerous strategies in order for Coastal Medical Center to be successful. Such assessments include an internal analysis, external analysis, gap analysis, and SWOT analysis. In conducting these analyses, our consulting team was able to better understand the internal environment, external environment, where the organization currently stands in terms of performance, and the major strengths, weaknesses, opportunities and threats that oppose the Coastal Medical Center. From our inquiry, we will be able to establish a strategic plan that best fits the organization’s needs.

    Read More

  • Springfield General Hospital Case Study

    1012 Words  | 3 Pages

    Given the long duration of patient quality problems, over ten years, at SGH, the communication plan may need to include not only the internal SGH stakeholders such as employees, but also external stakeholders both in the community, shareholders, and third party vendors. SGH is at greater business risk due to their previous attempts at improving quality and now potential lack of stakeholder confidence. Including stakeholders in the change management process allows the stakeholder’s viewpoint to coevolve with SGH to create a shared view of the change plan and how to measure change success (Windsor, 2010). Engaging with the stakeholders in change plan definition and focuses their energy on helping SGH with the change process, rather than undermining it (Windsor, 2010). Identifying all of the stakeholders for SGH, and engaging them in change communications and planning will assist SGH leadership in evolving the hospital towards a high patient quality

    Read More

  • Understanding How Microsystems can Affect Macrosystems and Viceversa to Accomplish Stategic Direction within Healthcare Systems

    2184 Words  | 5 Pages

    Determined healthcare systems routinely examine their environments internally and externally to locate significant trends and forces in the present and for the future which will have an effect on their performance goals and mission efforts. These healthcare systems understand who their stakeholders are, their needs and how best to meet those expectations and needs. These systems give attention to specific efforts on accomplishing goals that acquire opportunities in the whole environment while they continue to adjust their internal structures and functions. Precise aims are dealt with by uninterrupted sequences for performance improvements. Strategic directions for systems originate from the mission and directives. Strategic directions are identified by observing key stakeholders, addressing their interests and being proactive about responding to current, as well as, future shifts and trends in the systems’ entire environment (Skinner, 2001).

    Read More

  • Network Development In The Managed Care Organization

    1375 Words  | 3 Pages

    To guarantee that its members receive appropriate, high level quality care in a cost-effective manner, each managed care organization (MCO) tailors its networks according to the characteristics of the providers, consumers, and competitors in a specific market. Other considerations for creating the network are the managed care organization's own goals for quality, accessibility, cost savings, and member satisfaction. Strategic planning for networks is a continuing process. In addition to an initial evaluation of its markets and goals, the managed care organization must periodically reevaluate its target markets and objectives. After reviewing the markets, then the organization must modify its network strategies accordingly to remain competitive in the rapidly changing healthcare industry. Coventry Health Care, Inc and its affiliated companies recognize the importance of developing and managing an adequate network of qualified providers to serve the need of customers and enrolled members (Coventry Health Care Intranet, Creasy and Spath, http://cvtynet/ ). "A central goal of managed care is containing the costs of delivering care, but the wide variety of organizations typically lumped together under the umbrella of managed care pursue this goal using combination of numerous strategies that vary from market to market and from organization to organization" (Baker , 2000, p.2).

    Read More

  • Honor Health Vision

    763 Words  | 2 Pages

    Honor Health is a hospital and physician provider system located in phoenix Arizona. Honor health is relatively new hospital chain, more specifically it is the result of a merger of Scottsdale hospital and the John C. Lincoln Health Network (Alltucker, 2013). Honor Health’s mission statement is relatively short, comprising only a single sentence. Their mission and vision statements are, “To improve the health and well-being of those we serve” and, “To be the partner of choice as we transform healthcare for our communities” (Honor Health, 2015). While their vision and mission statements impart a direction and goal for their organization, the vagueness of both statements may cause problems in guiding targeted strategic initiatives. This essay

    Read More

  • The Presidio Army Health Clinic’s SWOT-Analysis

    1257 Words  | 3 Pages

    The current health care system can be difficult to navigate and often medical centers need management tools to help them develop strategic plans within their organizations. The SWOT-Analysis is one strategic tool that health care centers can use to formulate a roadmap for their organizations. The SWOT-Analysis examines internal capabilities (strengths and weaknesses) and external developments (opportunities and threats) when determining a strategic plan for an organization (Van Wijngaarden, Scholten, & Van Wijk, 2012). Van Wijngaarden et al. (2012) explains for SWOT-Analysis to prove meaningful throughout an organization, it is important for stakeholders to be part of the brainstorming to identify its’ internal capabilities and external developments. However, there are a few drawbacks to the using the SWOT-analysis tool that are important for health care centers to remain cognizant of when developing their strategic blueprints. Helms and Nixon (2010) state the SWOT-Analysis can be vague and too simplistic when developing a strategic course for an organization; it can be difficult to classify variables into the four SWOT quadrants; and no definite strategic path is identified after the SWOT-analysis is completed. For these reasons, they explain it can be helpful to use additional analysis tools in addition to the SWOT-analysis. One such tool the U.S. Army Medical System uses is the balanced-score card. The balanced-score card can assist health care centers in the clarification of their strategic objectives and goals, and facilitates communication throughout the organization (Chan, 2006). Chan (2006) also reveals balanced-score cards allow for constructive employee feedback l...

    Read More

  • The Merger of Two Competing Hospitals: A Case Study

    3362 Words  | 7 Pages

    Based on the case study provided: Hospital A, Porter Regional Medical Centre (Hosp. A) & Hospital B Banner Regional Medical Centre and Turner Geriatric Centre (Hosp. B) merged to form a consolidated entity named “Portsmith Regional Medical Centre” (PRMC). Both Hospital A and B were fully accredited hospital, with “state-of- art diagnostic technology” which included MRI and CAT scanners, 24-hour physician staffed emergency centers. Both Hospital A and Hospital B are located in a small community of 60,000 people in southeastern part of Idaho.

    Read More

  • Health Care Swot Analysis

    148 Words  | 1 Pages

    A strategic planning process is developed from a SWOT analysis (Harrison, 2010). When a nurse begins to plan strategically, this entails organization, adjustment and management to strengthen operations within the healthcare organization (Nelson-Brantley & Ford, 2017). Due to an ever-changing environment within a health

    Read More

  • Most Significant Issues Facing Health Care Organizations

    1334 Words  | 3 Pages

    Formed in 1998, the Managed Care Executive Group (MCEG) is a national organization of U.S. senior health executives who provide an open exchange of shared resources by discussing issues which are currently faced by health care organizations. In the fall of 2011, 61 organizations, which represented 90 responders, ranked the top ten strategic issues for 2012. Although the issues were ranked according to their priority, this report discusses the top three issues which I believe to be the most significant due to the need for competitive and inter-related products, quality care and cost containment.

    Read More

  • The Mayo Clinic: A Performance Management Assessment

    2102 Words  | 5 Pages

    Competitive advantage matters greatly to those responsible for the management of healthcare institutions. Together with rapidly escalating healthcare costs, increasingly complex medical technologies, and growing regulatory and legal pressures, healthcare organizations face a critical need to improve the quality of care at reduced costs (Cu...

    Read More

  • Caring Angel Hospital Case Study

    1323 Words  | 3 Pages

    This paper will propose the major steps that Caring Angel Hospital (CAH) could take to achieve each of the following goals: Improve the quality of care, add value to the organization, improve employee morale, design an efficient organizational chart, create a strong team environment and create the hospital’s competitive edge. It will also recommend one approach that the hospital could use for acquiring a larger market share given the prevailing financial circumstances. It will investigate two value-added services that CAH could offer to strengthen its value proposition and examples of the advantages of those services.

    Read More

  • Business Analysis: WellStar Health Systems

    1338 Words  | 3 Pages

    WellStar Health Systems is currently the preeminent and largest health care provider in Metro Atlanta. WellStar Health Systems is a not-for-profit institution that is composed of 5 hospitals and an abundance of physician groups. Physician specialty groups included within WellStar are: ENT, Psychiatry, Endocrinology, Pulmonary Medicine, Infectious Disease, General Surgery, Rehabilitation, Pathology, and Rheumatology. WellStar’s organizational design is composed of internal and external factors that define the organization’s size, organizational structure, and processes. Internal and external factors are the basis for influencing managerial conclusions in decision-making. These factors vary from organization to organization and are the rationale for understanding WellStar’s strengths, weaknesses, opportunities, and threats. Understanding these variables is a necessity for the sake of WellStar’s survival

    Read More

  • Strategic Plan for Mayo Clinic

    1477 Words  | 3 Pages

    A strategic plan is a tool that delivers guidance in achieving a mission or goal with maximum proficiency and control for an organization. Strategic planning is used to transform and revitalize organizations. The plan helps provide an inclusive understanding of opportunities and challenges both internally and externally for the organization. The plan delivers an assessment of the strengths and limitations that are realistic within the company. A well-developed strategic plan will offer a comprehensive approach and empowerment for the stakeholders involved. It is an opportunity for learning and understanding priorities that will drive the business to succeed. Jones (2010), describes how in health care organizations, strategic plans characteristically concentrate on operational and organizational goals such as when to obtain new technology, how to meet competitive challenges, and what staffing, tools, or facilities are needed to ensure organizational survival. The mission and value statements are significant in determining the quality of a strategic initiative. Forcing the organization to look toward the future creates proactive objectives in which both short-term and long-terms plans and goals are necessary in order to succeed.

    Read More

  • Toyota Manufacturing Company

    1103 Words  | 3 Pages

    With regard to the healthcare organization, it is essential to develop strategic plan and a clear vision so that the patient focused care will be at par with the organization process that is conducted on operational and on a daily basis.

    Read More

More about Competitive Analysis: The St. Mark's Hospital

Open Document