SWOT Analysis on Chicago Healthcare Center

SWOT Analysis on Chicago Healthcare Center Introduction The Chicago Healthcare Center has been in existence for the last ten years. It has continued to offer quality health care services to people around this place at subsidized prices. Although the government has established other healthcare facilities within this city, this hospital has been considered as the most successful healthcare center in Chicago in the last five years. One of the reasons why this hospital has been successful is because of its application of the emerging technologies in its operations.Advertising We will write a custom research paper sample on SWOT Analysis on Chicago Healthcare Center specifically for you for only $16.05 $11/page Learn More The management has been keen on using the emerging technologies in its operations as a way of improving its efficiency. It has been keen on installing some of the modern life-supporting machines to help ensure that patients who visit the facility get the best medical attention they need. The most recent move was the decision to install electronic medical record to help reduce the time patience take before they can finally be admitted in the facility. This electronic medical record helps in making the process of data storage, modification or retrieval easy for the management of this hospital (Coulter, 2009). In order to bring clarity to the benefits that the management stands to gain by using this technology, a SWOT analysis will be appropriate. SWOT Analysis STRENGTHS Reduced labor expenses Speed in managing data Ease in data modification Ease in data retrieval WEAKNESSES Cost of installation Skilled labor needed Lack of goodwill from employees OPPORTUNITIES Quality healthcare to patients Fewer errors in data management Increased capacity of the hospital due the use of machines Possible expansion if the system is a success THREATS The threat of hackers who may try to get classified information of the hospital Possible failure of the system that can l ead to loss of important data. Strengths Implementation of this system brings with it a number of strengths to the hospital. When this hospital implements this proposal, it will cut the cost of labor because fewer individuals would need to be employed for the purpose of data management. The process of data management will also be efficient and effective. This includes such activities as data entry process, data modification and its retrieval whenever it might be needed (Kratschmer, 2011). This means that the hospital will be able to serve more people at a lesser cost and within a shorter period when this technology is implemented. The hospital will have a higher capacity to meet the demands of its clients in a more effective and efficient manner, making it emerge as a stronger healthcare provider within this city. Weaknesses It is true that any change within an organization will always bring with it some elements of weaknesses despite the possible advantages it may have. This s ystem has a number of weaknesses that the management has to find a way to deal with. One of the main weaknesses of this new system is the initial cost. The firm will have to incur the initial cost of installing this system within the firm. Besides this cost, the management will have to look for skilled labor to take care of the new machines that will be installed within the firm. This may force the management to hire new employees for this task, or take their current employees to higher learning institutions to advance their skills. Finally, there is need to develop goodwill among the employees (Spulber, 2007). There might be lack of goodwill from employees who feel that their jobs are threatened.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Opportunities Implementation of this technology brings a number of opportunities to the hospital. One such opportunity is that it enables the hospital opportunity to improve its healthcare services to patients. This technology also offers the hospital an opportunity to expand its operations. With the errors reduced, this firm will be able to increase its patient intake on a daily basis. Threats Although this system comes to improve the functionality of the hospitals, it also comes with some threats both to the management and to the patients. To the management, there is the threat of a competitor hacking into the system and getting classified information about the firm. There is also the risk of data of the patients being accessed by unauthorized persons. This is because of the increased cyber crime that is common in this country. There is also another threat of a possible failure of the system. This can paralyze the operations of the firm. Conclusion It is clear that installing electronic medical record will be of great benefit to the hospital. The time taken to record data, modify them and their retrieval is shortened. The process becomes more efficient. This system also reduces the cost of labor because only a few individuals would be needed to manage the machine. However, it is important to appreciate that this comes with threats and weaknesses to the firm. Issues such as cybercrime and skilled labor to manage the system must be addressed. References Coulter, M. (2009). Strategic Management in Action. New York: Pearson Higher Education. Kratschmer, P. (2011). Organizational Culture is Highly Resistant to Change. New York: GRIN Verlag. Spulber, D. (2007). Global Competitive Strategy, Cambridge: Cambridge University Press.Advertising We will write a custom research paper sample on SWOT Analysis on Chicago Healthcare Center specifically for you for only $16.05 $11/page Learn More