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HCA Healthcare Corporations Strategic Analysis
Introduction
HCA is a corporation that offers a broad scope of healthcare services in areas that encompass surgery, oncology, orthopedics, and cardiology to mention a few (Conte, Vitale, Vollero, & Siano, 2018). It majorly operates in the US and the UK. Its headquarters are in Nashville, the United States. HCA runs a network of health institutions, surgical units, emergency establishments, extensive rehabilitation centers, and numerous other facilities.
Strengths
Some of the Strengths of HCA encompass the following.
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Powerful dealer community: HCA has created a strong culture where dealers do not just support its products but also venture in guiding the sales team. This leads to facilitated explanation to customers on how they can obtain the maximum gains from the products.
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Excellence in new markets: It has established proficiency with respect to entry in new markets and succeeding there. This helps the corporation to generate new revenue channels and broaden economic cycle hazards in its markets (Wei, Lee, Huang, & Dong, 2015).
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Highly accomplished workforce: This is enhanced by the corporations successful training and development programs.
Weaknesses
Weaknesses represent areas where the corporation should make improvements. They include:
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Poor investment in novel expertise: Considering the scope of expansion and different markets the corporation is expanding into, it should put efforts into technological advancement. This will enable HCA to reinforce, ease, and incorporate its processes across the board.
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Increased attrition level in the workforce: A higher number of employees are leaving the corporation than other companies in the industry (Bai & Anderson, 2018). This results in high expenses on the training and development of new workers.
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Low venture in research and development: Although its investment in research and development is above average in the sector, it is below that of its competitors in the industry.
Opportunities
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New inclinations in consumer behavior: This has the potential of opening up new markets for the corporation. It offers a great chance for HCA to create new revenue channels and branch out into innovative product types.
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New environmental guidelines: Such policies will ensure a uniform playing ground for all the organizations in the sector. This can allow HCA to ram home its benefits in new expertise and expand its market share in innovative product categories.
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Potential customers from online platforms: In the recent past, HCA has made improvements in its application of online marketing on different platforms (Wei et al., 2015). If this is upheld and strengthened, it will generate increased sales streams.
Threats
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Severe competition: Steady profitability has attracted a high number of players in the sector in the course of the last couple of years. This has negatively influenced not just profitability but also productivity and sales of HCA.
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Unreliable demand for extremely profitable products: Their demand seems to be seasonal and unlikely events in the course of the peak time might negatively affect the corporations profitability in the short term.
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Mounting pay rates: This includes movements, for instance, $15 each hour and increasing costs in some markets (Bai & Anderson, 2018). These factors may result in utmost pressure on the success of the corporation.
Table 1: SWOT Analysis.
Conclusion
HCA has several strengths that enable it to thrive in the market. Such strengths do not just assist in the protection of the market share but also entry into new markets. Despite the strengths, HCA ought to address its weaknesses and threats and capitalize on the opportunities to enhance its success in the industry.
References
Bai, G., & Anderson, G. F. (2018). Market power: Price variation among commercial insurers for hospital services. Health Affairs, 37(10), 1615-1622.
Conte, F., Vitale, P., Vollero, A., & Siano, A. (2018). Designing a data visualization dashboard for managing the sustainability communication of healthcare organizations on Facebook. Sustainability, 10(12), 4447-4453.
Wei, T. W., Lee, J. A., Huang, C. J., & Dong, T. P. (2015). Covenant design in financial contracts: A case study of the private equity acquisition of HCA. International Journal of Strategic Property Management, 19(4), 325-335.
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