Wealthy Healthcare Association (WHA) has an improving healthcare service across its facilities. The facility enjoys AAA-rated credit resulting from its strong financial management. The strategic options for Wealthy Healthcare Association can be evaluated Using TOWS (Threat-Opportunities-Weaknesses and Strength) matrix that would provide a relationship between internal and external factors affecting the organizational performance. Through the TOWS matrix, the study seeks to provide strategic insights on the organizational competitiveness and project threats and weaknesses that need attention.
Even though WHA has competitive strength in the market, there are still forces posing threats to its stability in the market. Based on the evaluation, WHA faces stiff competition from healthcare providers elevating external threat levels within the health organization. There is a need for the business to maintain its relationship with the community to improve their ambulatory-based services (Harris, 2017). The counterparts are offering low cost of healthcare services, challenging WHA to develop an alternative strategy to curb the pressure (Gupta & Potthoff, 2016). Therefore, WHA should either reduce the cost of imaging, surgery, and urgent care or develop an attractive alternative approach to maintain its current customer loyalty.
Several external factors could give the facility a competitive advantage. From the analysis, there is a great potential of the facility to employ a skilled physician who would improve WHA sales through quality service. An increase in the market also means business expansion, allowing the business to expand its ambulatory services and develop wellness services to customers (Harris, 2017). Through the intervention, the facility is likely to get more referrals that would increase its sales potential.
WHA experiences varied internal weaknesses (W) affecting their service output. From the analysis, the organization faces a low market share in surgical, imaging services, and staffing positions. There is a high demand for surgical and imaging services, yet the organization still charges them expensively. The facility needs to create a state of balance in the supply-demand curve to achieve an equilibrium in service delivery (Gupta & Potthoff, 2016). Through the approach, the facility would be able to control the threat of losing potential customers to competitors with low charges.
WHA’s internal strengths include its strong ties with the community. The facility has a good relationship with the communities accessing hospital services locally. According to the analysis, strong customer relations also build a high level of customer loyalty in the region. As such, the organization can take advantage of these opportunities to expand its operational paradigm (Stonehouse, 2018). Through the initiative, the organization would easily translate their service delivery to customer satisfaction.
Based on the analysis, the TOWS matrix has established that the Wealthy Healthcare Association should take advantage of the current opportunities and strengths. These opportunities include community ties, strong financial management, and investment in ambulatory services. Moreover, the association should limit its shortcomings and dangers by offering moderate administrations to contend adequately.
Harris, J. M. (2017). Healthcare strategic planning (4th ed.). August 30,
Gupta, D., & Potthoff, S. J. (2016). Matching supply and demand for hospital services. https://doi.org/10.1561/9781680831092
Stonehouse, D. (2018). SWOT: What is it all about, and how do you use it? British Journal of Healthcare Assistants, 12(12), 617-619. https://doi.org/10.12968/bjha.2018.12.12.617
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