Using Market Data to understand the Healthcare Environment

Write a 2-3-page paper, analyzing the impact of the external healthcare environment on organizational outcomes, working from an initial PESTLE analysis.

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ASSESSMENT OVERVIEW

In this assessment, you will build off your previous foundational work. You will continue to analyze the impact of the external healthcare environment on organizational outcomes, both overall and specific to your topic, working from your initial PESTLE analysis. You will also continue to apply foundational knowledge and an understanding of the external health care environment across core disciplines by market data identification and integration.

ASSESSMENT INSTRUCTIONS

Complete the rest of your PESTLE Analysis section and the first portion of the Market Data Analysis section of your Course Project Template. Remember that you should be building on the same template you submitted in the previous assessment. Address the points below.

PESTLE Analysis

Within the context of your PESTLE analysis done in the previous assessment, address questions such as:
- Who are the customers?
- What is the external supply chain?
- How does the external world impact the revenue model?
- Who are the competitors?
- Who are the external strategic partners?
- Who are the internal and external stakeholders?
- What relevant laws and regulations impact this organization?
Apply a balance of theories, models, and practices to demonstrate an in-depth understanding of a full range of the external health care environment across core disciplines.
Describe any uncertainties or barriers to achieving the objectives established in the previous assessment. How will you overcome these?

Market Data Analysis

Identify health care market data needs to examine the challenges or opportunities related to your topic.
- Determine where to obtain data and how to integrate data from multiple sources, from differing perspectives, and across various disciplines.

SUBMISSION REQUIREMENTS

Ensure written communication is free of errors that detract from the overall message and quality.
Format your paper according to current APA style and formatting.
Use at least two scholarly resources beyond those given in the course.
PESTLE Analysis: Between 1–2 pages; Market Data Analysis: 2–3 pages. Update references page as needed.
Use 12-point, Times New Roman, double-spaced.

Refer to the Using Market Data to Understand the Healthcare Environment Scoring Guide to ensure that your reflection meets the grading criteria for this assessment before submission.

EVALUATION

Competency 1: Analyze the impact of the external health care environment on organizational outcomes.
- Apply a balance of theories, models, and practices to demonstrate an in-depth understanding of the PESTLE analysis.
Competency 2: Analyze health care market data to identify opportunities and challenges for health care organizations.
- Identify health care market data needs to examine opportunities or challenges for selected topic.
Competency 4: Communicate healthcare management needs, opportunities, and strategies with multiple stakeholders.
- Writes coherently to support a central idea with proper APA format, correct grammar, usage, and mechanics as expected of a business professional.

attachment_1Analyzing the Impact of the External Healthcare Environment on an Organization

April Butler-Sullivan

Capella University

Professor Don Nowill

HCM-FPX5312: Analyzing the Health Care Environment

Feb. 27, 2020

How can Mayo Clinic Improve Patient Outcomes and Financial Sustainability Outcomes?

Overview of Mayo Clinic

Mayo Clinics is a multi-national health care organization that has a proved track record in providing the best patient care services, by incorporating research and clinical practice. Although it is a non-profit organization, it has been able to achieve huge milestones because it has expanded its operations in 140 countries, and it has over 65,000 employees (mayoclinic.org, 2020). It has been recognized as the best hospital in the US, and this shows its competency in providing high-quality patient care. However, it still has a huge potential in improving patients’ outcomes and making its financial outcomes more sustainable.

PESTEL Analysis of Mayo Clinic

Mayo Clinic has been able to survive and flourish in the health care industry due to its viable long-term and short-term strategies, that enable it to be the leading medical center in providing outstanding quaternary and tertiary health care. It is therefore, important to evaluate different external factors that may affects it performance in an external healthcare environment.

Political Factors

There are several political factors that may affect the performance of Mayo Clinic. Some of the government agencies have put Mayo Clinics operation under overwhelming pressure, and it has not been able to operate in full scale. Also, the likelihood of government going conflict with other government may also affect the operations of Mayo Clinic. Rules and regulations governing policy making also have a huge effect on both operational and financial performance of the clinic.

Economic Factors

Mayo Clinic has establishments in many countries, and this means it is subject to differing economic conditions where it faces different economic growth rates, price fluctuations, inflation rates, employment rates, and monetary and fiscal policies. In the US the inflation rate has affected the demand of different products produced by Mayo Clinic. Also, the reduced unemployment rate has affected the selection and hiring of talented employees (Shatskaya, 2016). Also, price fluctuations in the US and other international markets has affected prices of Mayo products in a negative manner.

Social Factors

There are multiple social factors that are affecting Mayo Clinic performance, and the demographic trend is one of them. The population of America is growing old, and this means that the demand of products for the older generation will increase. Also, immigration policies are changing, and this will affect the acquisition of employees and customers (Hans, 2012). Society norms also have a big impact on the operations of the clinic, and attitudes towards different health and safety aspects need to be evaluated. Lastly, power structure in the American economy also has a huge impact in the operations of the clinic, because the older generation is said to have a higher level of income than the younger generation.

Technological Factors

There are multiple technological advancements in health care, and Mayo is a leader in technological prowess in health care. However, the rampant disruptions in different technologies may affect Mayo’s performance and competitiveness. Also, licensing issues and technology transfer issues also have a huge impact to the operations of the clinic. Lastly, the level of technological acceptance in society may also affect Mayo’s operations and productivity.

Environmental Factors

There are multiple environmental policies in different states where Mayo operates, and these regulations have affected its operations. Different aspects such as carbon emissions, recycle policies, CSR culture and renewable technologies are integral to any health care organization, and they affect the financial and operational performance (Hans, 2012). Mayo is subjected to follow different environmental standards, and conform to safeguarding norms.

Legal Factors

There are various security laws that regulate the production and operations of Mayo Clinics in different locations, and this means that the clinic has to adjust its operations to conform to these laws. There are other laws such as consumer protection laws, business laws, and health and safety laws that the clinic has to follow, and adhere to in order to remain operational.

References

Hans, E. W., Van Houdenhoven, M., & Hulshof, P. J. (2012). A framework for healthcare planning and control. In Handbook of healthcare system scheduling (pp. 303-320). Springer, Boston, MA.

Mayo Foundation for Medical Education and Research. (2020). Mayo clinic. Retrieved from https://www.mayoclinic.org/

Shatskaya, E., Samarina, M., & Nekhorosheva, K. (2016). PESTEL analysis as a tool of strategic analysis in international markets. SCOPE ACADEMIC HOUSE B&M PUBLISHING, 47.