Business Plan Part 2: Action Plan

Running head: ACTION PLAN
Business Plan Part 1: SWOT Analysis
Aurora Nista
Grand Canyon University: HCA 470
Steve Klense, MPH, LNHA
January 26, 2019
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Running head: ACTION PLAN
Business Plan Part 1: SWOT Analysis
Strategic planning is crucial to the success of a healthcare organization that need to keep
up to constant regulatory changes as well as internal and external contributing factors. Strategies
are developed to drive the focus of the organization in a horizontal manner that is measured in
years with the commitment of the major organizational resources (Moseley, 2009). In an effort to
satisfy and reward its stakeholders, fulfill its mission and vision, survive and thrive in the
healthcare industry, the Mayo Clinic has been a forerunner in their approach to patient care
through complex planning strategies.
Strengths
Mayo Clinic, the first and largest nonprofit medical group, continues to focus on research
and innovation with significant discoveries in the area of treatment and disease. Focusing on
quality in all areas of operations allows Mayo Clinic to remain dedicated to providing superior
care through accountability driven models for improving patient experience based on service
quality, improving service tools, education and training, and ongoing monitoring and control
(Kennedy, Fasolino & Gullen, 2014). The Integrated Medical Record System allows access to
patient information from any location as well as patient access to treatment and diagnosis
information, laboratory results, and scheduling systems.
Weaknesses
Narrow health care networks within the Mayo Clinic organization can result in a
decreased area of impact as other organizations may provide services to wider geographical
areas. Although the Mayo Clinic network size is impressive, treating around 1.3 million people
each year, there are areas being served by the network that requires patients to travel long
distances for hospital services in Minnesota (Diamond, 2017). Negative press can be difficult to
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Running head: ACTION PLAN
overcome when the issues being brought up can make the organization seem as less than caring
for their patients at times.
Opportunities
Mayo Clinic is committed to healthcare research, which allows the organization to be the
lead for applying research discoveries into practice. The Mayo Clinic Care Network allows
outside providers and organizations to become part of the Mayo Care Network, gaining access to
the Mayo Clinic expertise and resources. The organization’s focus on supporting staff education
and career advancement can result in opportunities for attracting and retaining the best qualified
staff. Publicly reporting healthcare outcomes is a vital component of the quality of services
provided and progression. Mayo Clinic has reported net asset increases in the 2017 fiscal year
compared to previous periods as well as $66 million in cash and equivalents at year end (Mayo
Clinic Consolidated Financial Report, 2018).
Threats
Some of the threats include significant changes resulting from the healthcare reform, the
need for market consolidations, attracting highly qualified healthcare practitioners, and
understanding the impact of regional competitors. Gaining competitive advantage over
competitors can be a good motivator for increasing organizational focus on superior healthcare
services and highly specialized care.
Strategic Goals
Mayo Clinic’s extensive experience allows for a comprehensive approach to healthcare
and its sustainability. The issues of fragmentation and variation, overhauling current payment
methods to encourage the delivery of high-quality services and efficient patient treatments.
Understanding their strengths, weaknesses, threats, and opportunities can be the facilitator for
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Running head: ACTION PLAN
planning strategies to further increase their competitive advantage. The vision of the organization
can be realized through the expansion of the Mayo Clinic Network and geographical location to
maximize impact. Increasing the reach of their network can provide more opportunities for
influence and growth for the organization. Focusing on healthcare costs and quality are issues
that are always relevant in healthcare as most individuals struggle to keep up with healthcare
expenses.
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