Hospital SWOT Analysis
Establishing a hospital is not easy. There are numerous requirements that need be compiled and submitted, and you also need qualified medical practitioners and healthcare workers to keep the hospital up and running. To help you identify and find solutions in regards to needs and issues that come with setting up a hospital, here is a hospital SWOT analysis guide.
We also included examples in PDF format to help you in creating your own hospital SWOT analysis.
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How to Create a SWOT Analysis
So what is exactly a SWOT analysis and how do you create one? SWOT basically stands for strength, weakness, opportunity, and threat. SWOT analysis is one of many business analysis tools that analyzes a business’s internal and external environment. You may also see personal SWOT analysis examples.
The letters representing SWOT have two distinct functions. Strengths and weaknesses (SW) analyze the internal environment while opportunities and threats (OT) analyze the external environment.
Since the internal and external environment are being identified and analyzed, SWOT analysis helps companies in creating better business decisions, either for sales, human resource, accounting, research and development, information technology, software and Web development, and safety and security. You may also like SWOT analysis worksheet examples.
So what goes into the internal and environment you may ask? The internal environment basically analyzes what’s going on inside the company while the external environment tackles outside forces directly and indirectly affecting the company short-term and long-term. You may also check out how to prepare SWOT analysis for business?
Strengths and weaknesses tackle the internal environment, and is basically the advantages and disadvantages that the company possesses. The internal environment covers the company’s products and services, company personnel (employees, managers, officers), physical assets, software and hardware, and company policies.
Opportunities and threats meanwhile tackle the external environment which covers the company’s competitors, investors and other stakeholders, taxes, government regulations, and changes in the natural environment.
The external environment is out of the company’s control, yet it impacts the company as the strong as the internal environment. What companies can do here is to do extensive research and identify the external factors that affect the company the most (for example competitors and taxes). This allows the company to avoid external shocks which might cause financial problems for the company in the long-term. You might be interested in detailed SWOT analysis examples.
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Sample Hospital SWOT Analysis
Here is a sample hospital SWOT analysis you can use as a guide when you will be making your own SWOT analysis. Remember, you can the refer to SWOT analysis below and pair it with the examples we provided to create a more comprehensive and detailed hospital SWOT analysis. You may also see why every business needs a good SWOT analysis.
1. Strengths
- The hospital employs 100 registered full-time nurses and 50 registered full-time medical doctors. The doctors and nurses have a shifting schedule, in which both work eight hours a day for six days per week. One day is allotted for rest day, depending on the their general schedule.
- The hospital also employs 75 full-time nursing aides to assist in numerous medical and hygiene activities. Similar to the nurses, the nursing aides also have a shifting schedule and work six days a week.
- The hospital uses one of the most technologically advanced health equipment and facilities in the city. Among the facilities include X-ray/radiology (X-ray pleophos-D, 300 MA siemens, sonoline G-50 U/S machine, and siemens machines), 24-hour ambulance transport, 24-hour ECG services, laboratory services (for blood sugar, platelet count & Hb & blood grouping tests), physiotherapy services (MWD, SWD, U/S, TENS, IFC laser therapy traction unit, magnolia), ward facilities, and dental facilities (dental extractions, RCT, scaling or cleaning, fillings, local curettage). You may also like statement analysis examples.
- The hospital is run by ten board of directors, in which three are working for the hospital, four are medical practitioners working in other health care facilities, two are entrepreneurs selling medical equipment, and one is a congressman who has a master’s degree in public health. You may also check out process analysis examples.
2. Weaknesses
- Despite employing 100 nurses, 50 medical doctors, and 75 nursing aids, the hospital is still undermanned. Around 80% of the nurses are working 9–10 hours per shift.
- There have been numerous complaints from patients in regards to rude nurses and doctors. Some of the complaints also revolve around payment and claim procedures, in which patients were given incorrect billing statements while other patients were not able to claim health insurance benefits due to incompetent admin personnel.
- Although a minor problem, 10% of the total hospital personnel (doctors, nurses, nursing aides, admin personnel, janitors) have tardiness or absences issues. Some do not inform their department heads if they will be absent or late during their scheduled shift. You may also see what is an analysis?
- There is a need to purchase a number of X-ray and ECG equipment since some of the current equipment are no longer functional.
- The hospital does not have its own pharmacy, which has become an inconvenience for patients since the hospital began operations last year. You may also like company analysis examples.
You may also refer to these questions when creating the strengths and weaknesses section in a hospital SWOT analysis:
- What products or services are the hospital selling?
- How many employees does the hospital employ?
- How effective are the hospital’s company policies?
- When did the hospital begin operations?
- What are the hospital’s equipment and facilities?
- Where is the hospital located?
- How can the hospital’s equipment and facilities serve its customers?
- What is the hiring or recruitment process of the hospital?
- How does the hospital replace employees who resigned?
3. Opportunity
- For the hospital to purchase new equipment and establish its own in-house pharmacy, external investment is needed. The board of directors is looking at three investors, of whom initial investment talks already began last month. You may also see business analysis examples.
- Since the hospital only opened last year, internships from various medical schools around the country have not been implemented yet. Although the necessary agreements and contracts have already been signed with the partner schools, the hospital has not made a decision yet in regards to accommodating interns. You may also like critical analysis examples.
- The hospital will look to have an exclusive partnership with private tech companies to manufacture hospital equipment. If the partnership pushes through, equipment can come in as early as June next year.
- Due to the influx of new patients coming in from neighboring cities and areas, the hospital will be looking at the recruitment of new hospital staff. The hospital is looking at 50 new nurses and 20 new doctors, all for possible recruitment in the next six months. You may also check out operational analysis examples.
4. Threats
- The hospital is facing competition with two hospitals in the city. Hospital A has been in operations for 12 years and employs a total 1,000 personnel while hospital B has been operating for 5 years and employs 600 full-time personnel. Another hospital, in which construction began three months ago will also commence operations by March 2019. You might be interested in project analysis examples.
- Inflation is set to increase by 5% in the next few months which will definitely increase the prices of all hospital services.
- There have been rumors that one of the hospital’s health insurance partners will be going bankrupt which causes a major concern for the insurance company’s numerous policy holders.
- The ability to retain the hospital’s resident doctors have become an increasing issue since they are given much higher salary packages from hospitals in other cities. The past year alone, 5% of the doctors employed by the hospital have resigned. You may also see how to use SWOT analysis to build market research plan.
You may also refer to these questions when creating the opportunities and threats section in a hospital SWOT analysis:
- Who are the hospital’s main customers or clients?
- How will the hospital adjust to numerous external shocks?
- How can the hospital adjust its prices due to inflation?
- Who are the hospital’s direct competitors?
- How can the hospital have a competitive advantage against other hospitals?
- How can the hospital replace lost customers?
- How does government regulations affect the hospital’s operations?
Creating a SWOT analysis is not difficult, but it requires extensive research and analysis. SWOT analysis is one of the most effective business tools that one can use to analyze the internal and external environment. Compared to Porter’s five forces, PESTLE analysis, and strategy planning, SWOT analysis is the more popular tool and is used by almost all business organizations (either small enterprises or large corporations). You may also like needs analysis examples.
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A simple SWOT analysis can be very effective for medical businesses as well, specifically hospitals. As previously mentioned, a hospital is hard to run and requires numerous factors for it to serve its purpose to the general public. We hope the sample hospital SWOT analysis, as well as the examples we provided will assist you in creating your own hospital SWOT analysis.
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