Strengths
Every organization that is successfully operating has unique strengths that set it apart from its competitors. Memorial Healthcare is among the oldest healthcare organization in the United States (US). In 2021, the organization marked 100 years of operations in the healthcare industry. The many years of operations in the healthcare industry are a strength that has enabled Memorial Healthcare to succeed. Due to the long-serving years in the healthcare industry, Memorial Healthcare has developed and adopted procedures, strategies, and culture that ensure that the patients and the employees are satisfied by the organization’s operations. An organization with procedures, strategies, and a culture that satisfies its stakeholders is better off than its competitors (Terzic-Supic et al., 2015). The years of operations have seen the organization grow in size, with over 80 branches in Michigan, US. The branches are strategically placed where patients can easily access them.
The second strength that Memorial Healthcare has is its adoption of modern technology. Memorial Healthcare has employed modern technology in various capacities (Memorial Healthcare). For instance, the healthcare organization is using telehealth services which are helping the organization manage its patient’s data effectively. The use of telehealth has also aided the organization in providing specialized care. The organization has more than 20 departments, each offering specialized care. Through telehealth technologies, the departments can communicate fast, effectively, and flawlessly, which brings about the delivery of quality healthcare services. For instance, if a patient has a skin condition, they would be referred to dermatology under Memorial Healthcare. Through telehealth technology, the dermatologist can see the patient’s medical history. Memorial Healthcare is also using modern pieces of medical equipment for treatment. For instance, the oncology department at Memorial Healthcare used modern cobalt machines for cancer.
Weaknesses
Despite the success and strengths of Memorial Healthcare, some weaknesses threaten the stability and longevity of the organization. The first weakness that Memorial Healthcare has lies in the management of the staff and their remuneration (Memorial Healthcare). The staff has complained that the salaries and benefits they receive are relatively lower than what is offered to staff employed by competing healthcare organizations. Some employees have also complained that they are not entitled to benefits and bonuses. In contrast, employees at the same level in other organizations receive benefits and bonuses. The organization also has a problem of underemployment and overworking. If a staff member does not show up for work, the member of staff that will be working that day will have to take the extra load, adding on the excessive workload they already have. Staff management and remuneration issues are weaknesses as aspiring and experienced healthcare practitioners may avoid working for the organization, leading to low-quality healthcare services.
The second weakness that the organization experiences is the low availability of financial resources. Memorial Healthcare is a not-for-profit organization, which implies that it does not generate income that can be reinvested for the betterment of the organization (Memorial Healthcare). The organization greatly relies on donations, volunteers, and gifts from individuals and other organizations. Therefore, it becomes hard for the management to make a financial plan as there is no guarantee of the amount of finances that they will receive. Without a financial plan, an organization increases its probability of misusing the available financial resources (Morciano et al., 2020). Another factor that makes financial resources a weakness is that many people may donate or gift non-financial resources, such as manpower and infrastructure. In most cases, the non-financial resources cannot be converted to financial resources to cater to other financial needs the organization has. As a result, the limited financial resources that the organization receives are not enough to keep the healthcare organization running smoothly.
Opportunities
In an ever-changing world, numerous opportunities keep on emerging. For Memorial Healthcare, there are numerous opportunities that they can take advantage of. During the Covid-19 pandemic, movement was limited and discouraged for months. Unfortunately, some services that were offered through face-to-face interactions had to be delivered. Education was one of the industries that quickly moved to remote interaction through the internet. In medicine, telemedicine is a form of remote method of delivering medical care (Gajarawala & Pelkowski, 2021). Very few healthcare organizations have implemented the technology, which gives Memorial Healthcare an opportunity of implementing the technology and succeed in it. Through telehealth, the organization is set to minimize costs, the transmission of diseases in healthcare facilities, reduce human traffic in hospitals, save on time, among other benefits. The organization will reach more people through telemedicine, hence achieving its mission of promoting health and wellness through innovation.
Threats
The healthcare reforms occurring in the US are threatening the sustainability of numerous healthcare organizations. Memorial Healthcare is a not-for-profit organization, and its main competitors are for-profit organizations. health reforms such as the tax law repeal on Affordable Care Act (ACA). The tax law repeal is set to leave many people uninsured, which will result in many individuals going to not-for-profit healthcare organizations. The tax law repeal will result in increased premiums to levels that millions of US residents cannot afford. Bearing in mind that not-for-profit organizations such as Memorial Healthcare depend highly on financial aid from different parties, including insurance companies, treating uninsured individuals will lead to constraints in the available financial resources (Memorial Healthcare). As such, Memorial Healthcare will be faced with the threat of having the little resources they have overstretched, resulting in a lowered quality of healthcare services. If the threat is not considered and a way of averting it is not developed, then Memorial Healthcare risks living up to its mission and vision.
Recommendations
An organization that performs a SWOT analysis frequently can have a guideline on activities and strategies that address what is lacking, build on what is advantageous to them, utilize the opportunities available and minimize risks. From the SWOT analysis conducted for Memorial Healthcare, the CEO can find insights into the organization’s direction. From the strengths and opportunities highlighted in the SWOT analysis, the CEO can keep investing in technology in various forms as it has realized numerous advantages. One way the CEO can ensure that technology implemented is well taken care of is by having a team of qualified experts who will maintain all the technological services, products, and infrastructure. The weaknesses and threats identified communicate that the organization needs to look for alternative sources of financial resources and ensure that the staff’s needs are heard and considered. Since organizations operating in the modern-day require marketing to reach out to more people, Memorial Healthcare can use the information obtained from the SWOT analysis to develop a marketing plan. The SWOT analysis shows where and what the marketing plan should focus on. The organization will develop an effective marketing plan that utilizes minimal organizational resources by following the information in the SWOT analysis.
References
Gajarawala, S. N., & Pelkowski, J. N. (2021). Telehealth Benefits and Barriers. The journal for nurse practitioners: JNP, 17(2), 218–221. https://doi.org/10.1016/j.nurpra.2020.09.013
Memorial Healthcare. Memorial Healthcare. Retrieved from https://www.memorialhealthcare.org/.
Morciano, C., Errico, M. C., Faralli, C., & Minghetti, L. (2020). An analysis of the strategic plan development processes of major public organisations funding health research in nine high-income countries worldwide. Health research policy and systems, 18(1), 106. https://doi.org/10.1186/s12961-020-00620-x
Terzic-Supic, Z., Bjegovic-Mikanovic, V., Vukovic, D., Santric-Milicevic, M., Marinkovic, J., Vasic, V., & Laaser, U. (2015). Training hospital managers for strategic planning and management: a prospective study. BMC medical education, 15, 25. https://doi.org/10.1186/s12909-015-0310-9
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