Strategic Planning of Hospital Corporation of America

Abstract

Hospital Corporation of America (HCA) is a deep-rooted, worldwide health care industry leader that, on two continents, offers patient services. HCA, ranked number one in profit rankings and sales, keeps on offering quality healthcare as it spreads out into new markets. The primary services are provided by HCA through various venues. HCA besides its mission of patient care has also connected with the Federal government to endow with educational and scholarship plans. In this paper, a strategic appraisal of HCA was carried out to analyze its existing business strategies. It is indicated by strengths, weakness, threats, and opportunities (SWOT) analysis that weaknesses of HCA are overshadowed by its internal strengths and the external opportunities are outweighed by threats. The current mission and values statements of HCA are adequate to sustain its success; however advancements can be made in each.

Table of Contents

Introduction4

Body: Discussion and Analysis5

Hospital Corporation of America5

Strategic Planning5

Strategic Planning of Hospital Corporation of America7

Competency Landscape7

SWOT Analysis7

Strengths and Weaknesses8

Opportunities and Threats8

Porter Analysis of HCA10

Supplier Power10

Barriers to Entry10

Buyer Power11

Threat of Substitutes11

Degree of Rivalry11

Quality Improvement in HCA12

Conclusion13

References14

Strategic Planning of Hospital Corporation of America

Introduction

Healthcare organizations provide a continuum of care across the life span of individuals from before birth (prenatal care) to death (hospice care). HCA, headquartered in Nashville Tennessee, presents healthcare services mainly in the United States. In the UK, 6 healthcare facilities are also owned by HCA. In 1968, the company was established. Both in the US and UK, over 160 acute care, rehabilitation, and psychiatric hospitals are operated by the company. More than 100 ambulatory surgery centers are also operated by it, along with centers for treatment of cancer and outpatient rehab that make healthcare networks in several of the its serving communities. Hospitals under HCA are home to around 40,000 beds in total. 194,000 employees are serving at HCA. The facilities of HCA are situated in twenty states; in Florida and Texas, about three-quarters of its hospitals are located. In the UK, hospitals and clinics are operates by HCA International. In the largest ever private equity-backed IPO, HCA listed on the NYSE, on March 10, 2011, after raising $3.8 billion on a US exchange so far. (uoig, 2011)

Strategic management has become the essential process for coping with external change and is the major philosophy guiding the management of all types of contemporary organizations, including the healthcare organizations. This paper is intended to analyze the strategic planning and evaluation of HCA. (Ginter, & Swayne, 2002)

Body: Discussion and Analysis

Hospital Corporation of America

Hospital Corporation of America, or HCA (NYSE: HCA) is the largest private hospital group in the world. Based in Nashville, in Tennessee, is considered the main factor that makes this city a hotspot for healthcare. The group operates 273 acute care facilities, surgical centers, psychiatric hospitals and nursing homes in twenty states. It also has clinics in Switzerland and Great Britain. HCA was founded in 1968 by members of the Frist family, Thomas Frist Jr. and his son Thomas Frist. The current leader of the Republican ...