Posted: February 17th, 2022

Trinity Heath- PEST Analysis

 

 

 

 

Trinity Heath- PEST Analysis

 

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Trinity Heath- PEST Analysis

Introduction.

For any healthcare organization in the midst of strategic planning, a PEST analysis can be a useful tool. This is because the best strategies, which position organizations at their best chance of success in a particular time or period, are developed largely based on external factors in which a company operates. Trinity Health is not exceptional. Like all other organizations, they need to employ great PEST techniques that attract success for their organization.

A PEST analysis is a framework for organizations to analyze events and trends in four areas that commonly affect business operations and performance, specifically: Political factors, Economic factors, sociocultural factors, and Technological factors.

A variation of PEST that provides additional insights, called PESTEL, also includes environmental and Legal factors. For Trinity Health, PEST analysis helps make strategic business decisions plan marketing activities, product development, and research, just like the SWOT analysis. This paper bases the majority part of the discussion on evaluating the strategic plan, the PEST framework, and other concepts that impact the success of Trinity Health.

Trinity Health Strategic Plan.

Trinity Health uses an integrated approach to plan for future healthcare and community needs. This includes analyzing and use of key data points in the strategic decision-making process. Also, the pillars in the strategic plan represent their vision for the future. Each pillar provides the framework for analysis and continuous improvement of current operations and processes. The pillars are aligned and integrated to ensure the mission, vision, and values of Trinity Health System are fulfilled with quality and integrity.

Their strategic plan includes five focus areas to help them achieve their vision. The five areas of focus include; people-centered care, engaged colleagues, operational excellence, leadership nationally, and effective stewardship. At Trinity Health, they believe that their goals should align with their mission, vision, and core values.

MISSION: Serving together in the spirit of the gospel as a compassionate and transforming healing presence within the communities.

VISION: To become the national leader in improving the Health of the communities and each person they serve and be the most trusted health partner for life.

VALUES: Reverence, commitment to the poor, justice, stewardship, and integrity.

The Internal Environment, Trinity Health

Healthcare quality is fostered by acknowledging internal factors within the organization (Almathami et al., 2020). Trinity Health’s organizational leadership and management demonstrate an understanding of these elements, and they integrate them in service delivery to have the edge over their competitors. The purpose is to make consumers prefer their services to those of their competitors. Internal environment analysis involves identifying the strengths and weaknesses within the organization, thus, helping the management team to market the strength of their organization over their competitors while minimizing the impact of the weaknesses.

Internal factors that promote the quality of care in Trinity health include organizational structure and culture, employees’ competence, infrastructure, leadership and management, and collaborative care approach. They comprise the roles, rules, and responsibilities of the individuals. In quality healthcare, the structure is essential as it determines the decision-making process in care delivery. According to Heeringa e al, a flat or horizontal structure ensures that all employees are involved in the decision-making process, increasing the quality of informed choices.

 The organization’s culture is also another internal factor that focuses on the facility’s beliefs, norms, assumptions, and values. Quality healthcare delivery is characterized by effective values, supportive of the quality practice. Quality should be embedded in the firm’s culture. Organizational structure entails the system of directing the activities to meet the healthcare objectives.

The working environment is another internal element for the success of Trinity Health. Notably, aspects such as performance management and employee engagement should be fundamental in providing quality healthcare practice.

Some of the internal problems that the organization face include;

Insufficient funds to maintain required workforce. For example, Slubowski, the CEO of Trinity Health, wrote a letter to the congressional health committee to request funding for loan repayments, incentives, workforce-related COVID-19 costs, and demonstration programs for clinician wellbeing. He also suggests efforts to build a culturally diverse workforce, increase Medicaid reimbursement and residency slots, and provide visa relief for foreign health care workers. 

Shortage of access to care. This has slowed down the coverage of gaps through affordable care. Slubowski recommends expanding efforts to close coverage gaps through Affordable Care Act (ACA) subsidies, extend hospital-at-home flexibility, and support increased access to behavioral health services.

External environment.

These include political, economic, sociocultural, technology, environmental and legal elements.

Political factors. Political factors play an important role in determining the factors that can impact Trinity Health System’s long-term profitability in certain states and markets. Trinity Health exposes itself to different types of political environment and political system risks. Some of the political aspects that Trinity Health analyses before entering a certain market include; legal framework for contract enforcement, level of corruption, changing tax legislation, consumer protection, and employment regulations, and insurance mandates are all elements in the political sphere that could have an impact on healthcare.

Economic factors. Macro environment factors such as inflation rate, savings rate, interest rate, foreign exchange rate, and economic cycle determine the aggregate demand and aggregate investment in an economy. At the same time, micro environment factors such as competition norms impact the organization’s competitive advantage. Trinity Health uses these factors to forecast the growth trajectory. Some of the economic factors that the organization considers during decision making are; education level, unemployment rate, interest rates, economic growth rate, the skill level of the workforce in the medical industry, and inflation.

Sociocultural factors. Society’s culture and their way of doing things impact the culture of any particular healthcare in an environment. Beliefs and attitudes that are shared among a population play a great role in how marketers at Trinity Health strategies. They will understand the customers of a given market and how they design the marketing message for consumers. A PEST analysis for healthcare should identify; demographics and skill level of the population, class structure and power, education level, culture, and attitudes.

Technological factors. Technology is fast disrupting various industries across the board. The healthcare industry is a good case to illustrate this point. Over the past few years, the industry has been transforming really fast, not even allowing other established players to cope with the changes. Healthcare organizations should do technological analysis of the industry and the speed at which technology disrupts that industry. Slow speed will give more time, while fast speed of technological disruption may give a firm little time to cope and be profitable.

Environmental factors. Different markets have different norms or environmental standards that impact an organization’s profitability in those markets. Before entering new markets, Trinity Health carefully evaluates the environmental standards that are required to operate in those markets. For example, weather, air, and water pollution regulations, among others.

Legal factors. Failure to follow new laws and legal procedures that govern healthcare could lead to immediate failure of your strategy. The legal implications of pending lawsuits, HIPAA compliance, potential hospital mergers, and more should all be taken into consideration as part of your overall strategy. Some of the legal factors that Trinity Health considers before entering new markets are; Discrimination law, Copyright, Patents and Intellectual property law, Consumer protection and e-commerce, Employment law, Health and safety law and Data Protection.

Competitive Advantage of Trinity Health

As global populations continue to age and governments, continue to cut back on public healthcare funding, the ability to strengthen clinical capabilities, patient outcomes, and process efficiency is rapidly becoming the battleground on which competitive strategies are being fought (Betbeze, P, HCAPS). The two ways organizations can gain a competitive advantage are;

Cost Advantage: When products or services are offered at a lower price than competitors.

Differentiation Advantage: When products or services are better than those offered by competitors.

How Trinity Health have found a Competitive Advantage.

Leaving customers satisfied. Trinity Health has mastered the trick of ensuring customer satisfaction as a way of winning them. Investments in modern medical technology have made an important contribution to patient satisfaction. This is due to the rapid and accurate diagnosis based on technology.

Smart personnel management. Trinity Health has also maintained being competitive in the healthcare industry through employing skilled healthcare professionals. Their employers are one of the best, and this has helped reduce training costs, enable better staff rotation, and reduces the need to hire overspecialized experts. 

Thinking about Hospitals differently. In Trinity Health System, innovation does not start and end with the research and inventions of physicians only. Being one of the nation’s vast and fully integrated health care systems, the organization considers the entire system to be an intellectual asset. A major focus has been to figure out ways that innovations programs can tap into the know-how of Trinity Health employees to help accelerate the new technological developments both inside and outside the system. Trinity health sees itself as the ideal testbed for both start-ups and major corporations alike (Park, B. et al., 2020).

Role of Stakeholders at the Henry Ford Health Care System.

Patients: Everyone at some point becomes a patient. Patients are typically citizens and sometimes taxpayers. Policymakers at Trinity Health System have a fiduciary duty to this population, and their policy framework is established to benefit patients. Patients receive care services from providers and are the beneficiary customers of the payors. Patients also may want to access information about their care via an electronic device, e.g., personal computer, mobile phone.

Providers: At Trinity Health Centers, what distinguishes them from others is the incorporation of competent providers. The Providers operationalize care delivery within the policy framework. They provide health services to patients and maintain health information about them. The providers coordinate patient care with other providers as care team members. Many providers are independent businesses that must manage their own operations and finances.

Payors: Payors work is to operationalize the financial elements of the policy framework. Payors enroll patients as beneficiaries. They procure care services from the providers on behalf of their patient beneficiaries. They also must take on the actuarial task of ensuring the financial sustainability of the care program and they report to policymakers.

Ministry of Health: Also called the Policymaker, the work of the ministry is to establish the framework within which health care is provided to the country’s citizens. Trinity Health have partnered with these policymakers in an attempt to aggregate data from patients, providers, and payors to develop population-level metrics that inform their health and health economic policies. The role of policymakers is to determine: who is eligible to receive care, what care services are provided; how; where; by whom, how are services paid for and finally to assess if services are being delivered well and whether they are accessible.

Services Provided at Trinity Health System.

The Trinity Health provides an engineering design for surgical services. The ambulatory surgery center provides the necessary space and equipment for patients who need surgical procedures, yet do not require an overnight stay. It follows the same design parameters for construction and renovation as they do for hospitals.

Home based care. Trinity Health clinicians have demonstrated a special passion for healing the mind, body, and spirit of every patient they treat. Even those confined to home. Their skilled nurses and therapists partners with patients, their physicians, and caregivers to create a personalized care plan for this phase of their healthcare journey. The home-based care offerings include companion care, remote patient monitoring, and hospice. 

Senior care. Senior health services are provided by experts in the field of geriatric medicine and offer programs and resources tailored to meet the needs of the seniors in the community, including but not limited to: Skilled Nursing Facilities, Life Plan Communities, Assisted Living, and Independent Living Facilities.

Organizational competencies.

 Innovation. Innovation initiatives are multidisciplinary, team-led projects that target improvements in quality measures and evidence-based standards through problem-solving and the identification of common metrics to build consensus. Trinity Health involves discovering and applying new knowledge in techniques, technology, processes, services, and structures including Clinical Research & Technology, Facilities, Services and Access Points and Processes

Care Coordination. Proficiency in providing coordinated care across the continuum of providers and delivery sites, enhanced by a multidisciplinary team approach and information technology.

Partnering and Collaborating. The collaborative approach, fostered by shared vision and values, facilitates transformation throughout the system—relationship building with patients, stakeholders, and others.

Recommendations.

The healthcare field is always changing and progressing at a rate unlike any other. Over the past few decades, it has become more and more important to plan for the future in order for any healthcare practice to be successful for years to come. By planning for the unknown, hospitals, clinics, private practices, and other organizations in the healthcare field can be better equipped for whatever may come along down the road.

From the financial side of running an organization to structural decisions within the hospital or clinic, planning is a necessity. A hospital strategic plan allows for more efficiency in all aspects of the business of running a practice, no matter how big or small. Trinity Health System can achieve long-term organizational sustainability by modeling key regional and national environmental, payment, workforce, and competitor activity and performance assumptions into likely future scenarios that inform our strategic priorities. This modeling also helps identify potential new core competencies.

In order to achieve a financial health environment, Trinity Health System has to; make a budget along with a general business plan, keep their accounting records current, use a well-designed chart of accounts and use the right software.

 

 

 

 

 

 

 

References.

Almathami, H. K. Y., Win, K. T., & Vlahu-Gjorgievska, E. (2020). Barriers and facilitators that influence telemedicine-based, real-time, online consultation at patients’ homes: a systematic literature review. Journal of medical Internet research, 22(2), e16407.

Betbeze, P, HCAPS: Making a Difference While there is Still Time (Internet); HealthLeaders Media 2016 November 11; cited 2016 June. Available from: www.healthleadersmedia.com/marketing/hcahps-making-difference-whiletheres-still-time

HealthLeaders Media: Another Study Links Hospital Mergers and Acquisitions to Higher Prices [Internet] 2016 March 28, cited 2016 June. Available from: www.healthleadersmedica.com/finance/another-study-links-hospital-mergershigherprices. Full text of study available at: http://www.kellogg.northwestern.edu/docs/faculty/dafny/price-effects-of-cross-market-hospital-mergers.pdf 

Heeringa, J., Mutti, A., Furukawa, M. F., Lechner, A., Maurer, K. A., & Rich, E. (2020). Horizontal and vertical integration of health care providers: a framework for understanding various provider organizational structures. International journal of integrated care, 20(1).

Website: https://www.trinity-health.org/ 

 

 

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