Capstone Project: Implementing a Strategic Plan Building on the PESTLE Analysis, Case Study 1: Are Our Customer Liaisons Helping or Hurting?, Case Study 2: Health Care Needs Real Competition, and your outline that you completed in Week 5, continue to dev
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20190830005028health_florida.pptxUF Health Florida; PESTLE Analysis
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Executive Summary
Hospital Merger & Acquisition activity is on the rise.
Hospitals increasingly desire these merges to aid in reducing costs and building a better footprint in the market.
With the ongoing acceleration of M&A, stakeholders are concerned of its impact on patients, payers and the providers.
To be the change desired, mergers must provide high quality products for the consumers at affordable pricing(Blumenthal, 2017).
Thesis Statement
This presentation explores the political, economic, social , technological, legal and environmental factors affecting UF Health Florida.
Political Factors
Government policy and regulations on the quality of healthcare service (Blumenthal, 2017).
Government Programs
Political Stability in the country
Tax Plans in the country(Blumenthal, 2017)
Corruption
Political regulations play an essential role in a healthcare organization. These regulations seek to protect the patients and the healthcare providers in UF Health Florida from a number of health risks. For example, the U.S Government has set up the HIPPA regulation which strives to ensure that patients’ information is protected and can only be accessed and used by authorized users (Simoes, 2015). Besides, the U.S government offers a number of programs such as Medicare or Medicaid that can help in the administration of affordable and effective healthcare in the hospital. In addition, the political stability in the country also allows for the administration of safe healthcare services. Corruption is another political factor that tends to undermine effective healthcare delivery in the hospital.
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Economic Factors
Interest Rates
Inflation
Taxation
Unemployment rates
Education level in the country
Skill level of the hospital workforce.
The economic factors play an essential role in the determination of the aggregate demand and the aggregate supply of healthcare services in a country. Ideally, these factors allow UF Health Florida to determine the suitable trajectory towards growth and development in the state. Ideally, the assessment of these factors can be used to forecast growth and identify the key factors that should be implemented to ensure that the hospital can counter any economic challenges.
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Social Factors
Increasing age of population and cardiovascular diseases
Public or patient activism that is engineered by social media platforms.
Education Level
Cultural Differences
Society and culture are an essential part of the healthcare industry. Share beliefs and attitudes of the population play an essential in how UF Health Florida marketers can understand the demand and supply of healthcare services. Besides, these social factors provide a proper foundation that allows the healthcare organization to design a marketing message for the public. For example, cultural difference plays a crucial role in the delivery of healthcare. As such, UF Health Florida can mention its inclusive nature in ensuring that all patients regardless of their nationalities, religion and ethnicities are served.
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Technological Factors
Technology communication and infrastructure such as EHR(Cooper, 2019).
Consumer access technology such as social media
Research and innovation in cancer
Recent technology development by competitors.
The healthcare consumers in UF Health Florida do not just want excellent care but also desire convenience, ease, and choice of delivery. Over the past decade, consumers craving convenience has spurred the enormous growth of digital technology in the healthcare industry (Cooper, 2019). The technological factors provide an excellent opportunity for growth in UF Health Florida. Essentially, these factors can be utilized as strategies for bringing in better solutions that can ensure the fast, efficient and safe delivery of medical services to the consumers. As such, UF Health Florida can analyze these factors to ensure that its technological level is up to date.
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Legal Factors
Discrimination law
Employment law
Health and safety law
Data protection laws such as, HITECH Act and HIPAA (Simoes, 2015).
Intellectual property.
Legal and regulatory requirements also form an essential part of the UF Health Florida. With the ongoing growth in population and the advancement in technology, the government is increasingly coming up with new regulations to ensure that the healthcare organization can deliver safe and efficient healthcare services. These legal factors create a robust environment that ensures the protection of patients and healthcare professionals. For example, the HITECH Act and the HIPAA are essential regulations that strive to ensure maximum security of patient information (Simoes, 2015). Besides, the employment law seeks to ensure that healthcare professionals in the organization are not mistreated.
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Environmental Factors
Weather and climate change
Environment regulation laws(floridadep.gov, 2019).
Air and water pollution regulations at the hospital
Waste Management.
Different markets are known to have different norms and standards that affect the profitability of organizations. The state of Florida is keen on its environment. As such, it has imposed regulations that require healthcare organization including UF Health Florida to adopt (floridadep.gov, 2019). As such, these factors affect the operations of UF Health Florida by ensuring that the hospital’s means of healthcare delivery are within the structured environmental laws of the state. For example, the Air and Water pollutions regulation strives to ensure that the hospital has the proper measures in place to ensure reduced water and air contamination.
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References
Blumenthal, D. (2017). How the New U.S. Tax Plan Will Affect Health Care? Harvard Business Review. Retrieved From: https://hbr.org/2017/12/how-the-new-u-s-tax-plan-will-affect-health-care
Blumenthal, D. (2017). Is M&A the Cure for a Failing Health Care System? Harvard Business Review. Retrieved From: https://hbr.org/2017/12/is-ma-the-cure-for-a-failing-health-care-system
Cooper, P. (2019). Why Technology In Healthcare Is A Balancing Act For Patients And Providers. Forbes. Retrieved From: https://www.forbes.com/sites/forbestechcouncil/2019/05/22/why-technology-in-healthcare-is-a-balancing-act-for-patients-and-providers/#73693c5d30c7
floridadep.gov. (2019). Laws and Regulations. Retrieved From: https://floridadep.gov/rcp/fcmp/content/laws-and-regulations
Simoes, E. (2015). Health information technology advances health care delivery and enhances research. Missouri Medicine, 112(1), 37.
