SWOT Analysis of Partners HealthCare: Evaluation Essay

Introduction

Founded in 1994 by Brigham and Women's Hospital, and Massachusetts General Hospital, Partners HealthCare is a non-profit organization that is involved in a variety of activities. Specifically, its core activity is the provision of patient-centered medical services (Partners, 2016). However, its other activities include research, teaching, and general service to the community. Its operations are recognized both locally and abroad. Further, it has a wide range of specialist services that it offers to its patients as well as home care that is equipped with physicians and therapists who are very critical to the recovery of the patients under their care. Through its specialists, many patients are freed from the debilitating pain that they experience as well as their crippling dependence on drugs. As such, it is a very important institution for the community and the world at large. Through the provision of its professional and quality services, it has received numerous local and international awards (Health Catalyst, 2016). However, despite those strengths, the company is also riddled with several weaknesses. Further, it has opportunities it can exploit despite the threats that exist in the market. This paper will conduct a SWOT analysis of the company and determine its market viability in the face of competition.

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What Are the Strengths and Weaknesses of the Partners Healthcare Organization?

Strengths

The main strength of partner’s healthcare lies with the huge networks of people and organizations that support it. In this regard, it has a wide range of physicians and other specialists from the local community as well as abroad who support its initiatives. As such, it is very unlikely that it will have a shortage of specialists. Unlike its competitors, the company enjoys the trust of most partners who are supportive of its activities. Specifically, several hospitals such as Cooley Dickson hospital, McLean hospital, North Shore Medical Center among others are very supportive of the institution (The Business Journals, 2016). The second strength is its history and capabilities. The mere mention of the institution calls for respect and appreciation. This is because of the work that its administrative team has done since the institution was founded in 1994. Specifically, its ability to transform the lives of patients by providing them with gene-linked therapies as well as putting smiles on the faces of many patients is an aspect that is of great strength. The third one is its commitment to innovation and creativity in learning. In this regard, the institution enjoys the newest and best thinking in medicine. In this regard, it reinvents and redesigns the most appropriate and modern methods of caring for its patients. The international face of the institution is its fourth strength. Apart from Boston, the institution has branches in other countries where it provides its services. This international outlook enables it to amass massive support from donors and other well-wishers both internationally and locally.

Weaknesses

Despite the strengths enumerated above, the institution is also riddled with several weaknesses. In this regard, the philanthropic nature of the institution makes it have more liabilities. Being a not-for-profit organization, Partners HealthCare relies mostly on the support of others other than its own profits. Therefore, it is likely to suffer financial distress in case the partners are to withdraw their sponsorships. The second weakness is the scope of its operations. In this regard, it is mostly concerned with patient-centered medical care (McCluskey, 2015). Therefore, it is not per se a hospital. As such, it relies on the willingness of its partner hospitals to refer the patients to the institution. Therefore, if it encounters a strained relationship with the institution, it might fall into difficulties. Lack of competitive edge is the third weakness that partners healthcare has. In this case, the institution does not compete in terms of profits with other organizations that are involved in profit-making. As such, the fact that it is not for profit-making might lead to laxity and hence drop its performance levels. As a result, the quality of services will drop because productivity will not be measured on the volume of profits that it makes. The fourth weakness lies with the lack of any marketing experience. This weakness is closely related to the lack of a competitive edge. The nature of the institution does not call for vigorous marketing for its services. As a result, the marketing team can only advertise on the services offered albeit reservedly.

What Are the Opportunities of the Partners Healthcare Organization?

The greatest opportunity that partners healthcare has is in exploring new areas of medical healthcare. Instead of just acting as an independent medical home for patients with certain ailments, it can consider elevating its activities to those of a fully pledged medical facility (Tucsonnewsnow.com, 2016). This way it will not have to rely on the other partner hospitals who offer them patients to take care of in the course of their recovery. The second opportunity is for the institution to consider making profits by charging for their services. In this manner, they will not have to rely on the goodwill of the partners, sponsors, and well-wishers. Additionally, they will be more competitive as their efficiency will be measured on the profits that they will make. Thirdly, Partners HealthCare could expand the type of patients that they house in their institution. Instead of housing those requiring therapeutic attention, it can also house the terminally ill as well as those who wish to join the institution so as to avoid burdening their families. Fourthly, the institution can also consider opening branches in Africa and other continents that have patients who require specialized attention.

What Are Some of the Threats Partners Healthcare Organization Company Face?

One of the greatest threats that the institution faces is competition from those other institutions that are engaged in profit-making. In this case, due to the huge profit margins of its competitors, Partners HealthCare might fight it difficult to stay afloat in the market. The other threat is that of sustainable financial backing. If the partners withdraw their support, the institution is likely to fail. The retention of their key staff is difficult since they are not paid well because of the lack of a strong financial base. Lastly, the threat of attack by competitors is real since they think that the institution is a threat to their growth.

Conclusion

From the foregoing SWOT analysis, the strengths of Partners HealthCare outweigh the weaknesses. Although the threats that the institution faces are enormous, exploiting the opportunities enumerated will make it more competitive. Its readiness to compete in the market domain is very strong because of the team of specialists that the institution enjoys. Additionally, its use of current technology in devising new methods of satisfying their patients provides enormous competition to its equals. Further, the team of specialists that Partners HealthCare has is a strength that gives it a commanding lead in the race for the best.

References

Health Catalyst, (2016). Retrieved 11 January 2016, from https://www.healthcatalyst.com/news/Partners-Healthcare-Health-Catalyst-Announce-Strategic-Collaboration-to-Improve-Patient-Care

Healthcare IT News, (2016). Partners HealthCare. Retrieved 11 January 2016, from http://www.healthcareitnews.com/directory/partners-healthcareMc

Cluskey, P. (2015). Partners HealthCare and Hallmark Health System end merger talks - The Boston Globe. BostonGlobe.com. Retrieved 11 January 2016, from https://www.bostonglobe.com/business/2015/12/18/partners-healthcare-and-hallmark-health-system-end-merger-talks/cfqJt3KJSsuUWQmc7u4iWO/story.html

Partners.org,. (2016). About | Partners HealthCare. Retrieved 11 January 2016, from http://www.partners.org/About/The Business Journals,. (2016).

Partners HealthCare Profile - The Business Journals. Retrieved 11 January 2016, from http://www.bizjournals.com/profiles/company/us/ma/boston/partners_healthcare/3267085

Tucsonnewsnow.com,. (2016). Partners HealthCare Enters into Global Enterprise Agreement with QPID Health. Retrieved 11 January 2016, from http://www.tucsonnewsnow.com/story/30933741/partners-healthcare-enters-into-global-enterprise-agreementwith-qpid-health