SWOT Analysis of Mary Washington Hospital

SWOT Analysis
Author Name
Institution Affiliation
Situated in Fredericksburg, Virginia, Mary Washington Hospital is a 450-bed hospital that is ranked 7th by the U.S. News and World Report (Rao). This full-service medical center was founded in 1942, and since then, it has been providing quality care facilities to patients coming from different parts of the United States and worldwide.
Positive Impact
Negative Impact
Internal
Strengths:
The first strength of Mary Washington Hospital is its strong clientele base and reliable business network. The hospital has partnered with top medical centers across the country in order to cater to more and more clients (patients). The service fee structure of Mary Washington Hospital is structured in a way that it comfortably accommodates patients paying from their pockets or those who are paying through health insurance (Haile, 2016).
The second strength of the hospital is its customer growth. Every day, a significant number of patients come to Mary Washington Hospital for treatment and diagnosis purposes. Some of them are direct clients, and the others are referred to the hospital by insurance companies and private medical centers.
The hospital is capable of treating different illnesses and carrying out multiple surgery procedures at a time. For this purpose, Mary Washington Hospital has employed top consultants in different fields; some of them work part-time while others serve patients as full-time employees.
Weaknesses:
One of the biggest weaknesses of the hospital is that most of their customers (patients) are subject to market whims.
As part of its business weakness is the fact that Mary Washington Hospital is unable to leverage the economy of scales in order to beat down the prices of medications and services.
Though the hospital was founded years ago, it needs to work for a few more years in order to gain reputation in the healthcare industry, and for this purpose, the hospital management will be required to get a proper handle on the database.
Another significant weakness is that Mary Washington Hospital does not have a set system of ensuring employee satisfaction. It looks like the management’s focus has always been on patient satisfaction, which is why most of the doctors, nurses and other staff members quit on their jobs soon after they realize that they are not going to be given an increment or other benefits.
External
Opportunities:
The first opportunity is that Mary Washington Hospital can improve their finances by starting a new and advanced service line. For this purpose, the management will have to increase customer retention and adopt alternate medicines while treating certain ailments.
It looks like Mary Washington Hospital is aware of the vast opportunities available in the healthcare industry; hence, the entire staff will have to work hard in order to improve the quality of care. At the same time, they might like to improve their online interface and understand how to handle patients with care and attention.
Mary Washington Hospital needs to put processes in place that will help the management drive the business forward. They might like to partner with some insurance companies and teaching hospitals outside Virginia.
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