SWOT Analysis: Long-Term Acute Care (LTAC) Hospital

SWOT Analysis: Long-Term Acute Care (LTAC) Hospital Name Institution SWOT ANALYSIS: Long-Term Acute Care (LTAC) Hospital Introduction There is great need for healthcare organizations to continually make adjustments to maintain optimal functioning. Various strategies can be utilized in the determination of where adjustments are needed. A key technique rests on the evaluation of an organization’s strengths, weaknesses, opportunities, and threats, commonly known as the SWOT analysis (Terzic-Supic et al., 2015). For the healthcare sector, the SWOT analysis portrays limited use relative to other industries. As a primary determinant of strategic planning, the approach requires a panel of experts, including board members, technical expertise, staff and patients, to complete the assessment from a critical view. In view of long-term acute care hospitals (LTACs), clear focus is directed towards enhancing the capability of admitting complex patients with high acuity, and unable to return home after hospitalization in acute care ( HYPERLINK "/author/Velazco%2C+Jorge+F" Velazco, Ghamande & Surani, 2017). The paper utilizes the SWOT analysis as a model for determining overall performance, and developing recommendations to fill the existing gaps. SWOT Analysis SWOT analysis refers to an examination of an entity’s internal strengths and weaknesses, its opportunities for improvement and growth, as well as the threats from the external environment (Terzic-Supic et al., 2015). Steps in SWOT Analysis The idea of strategic planning arises as a means to bring an organization into balance with the external environment, while ensuring sustained balance. In the first step, the SWOT analysis process entails the gathering and assessment of key data (Terzic-Supic et al., 2015). Such data relates to population demographics, community health status, sources of healthcare funding, and the prevailing medical technology. On this note, the firm’s capabilities in the given areas become evaluated. Secondly, data on the organization are collected and sorted into four categories, including strengths, weaknesses, opportunities, and threats. Strengths and weaknesses originate from factors within the firm. On the other hand, opportunities and threats arise from the external business environment (Terzic-Supic et al., 2015). The third step involves the development of a SWOT matrix for each business option under consideration. Lastly, the SWOT analysis becomes incorporated within the decision-making process to determine which business alternative best meets the overall strategic plan of the organization. The case of the LTAC: SWOT Analysis The table below shows the strengths, weaknesses, opportunities and threats facing the LTAC hospital under study: STRENGTHS WEAKNESSES * Highly competent staff * A clear understanding among staff of the organization’s goals * Focus on quality improvement * Lack of or inadequate patient education upon discharge * Lack of continuity in clinical processes * Poor use of healthcare informatics * Insufficient management training * An organizational structure limiting collaboration with other healthcare organizations OPPORTUNITIES THREATS * Implementing an LTAC patient education programs to ...