Slide 1: Mayo Clinic: Strategic Plan
- Mayo Clinic is the first and largest not-for-profit medical group practice
- Established in 1883 in Rochester, Minnesota by Dr. William Mayo and his two sons.
- Currently the organization has three clinics and four hospitals in three states.
- The group has 3,800 physicians and scientists and 50,900 hospital staff.
- In 2014, the group completed 150 years of continued service to patients.
Slide 3: Current Strategic Objectives
- Primary Value
- The needs of the patient come first
- Mission Statement
- Treat everyone in the diverse community including patients, their families, and colleagues with dignity.
- Vision Statement
- Mayo Clinic wishes to provide an unparalleled experience as the most trusted partner for health care.
- Core Business
- Create, connect and apply integrated knowledge to deliver the best health care, health guidance and health information.
- Value Proposition
- Mayo Clinic combines knowledge, integrity and teamwork into a uniquely effective, integrated model of care, bringing timely solutions and hope to patients and people.
Slide 4: Current Strategic Goals
- Patient Care
- Fixed Salary to physicians in order to decrease monetary motivation to see large volume of patients and spend more time with individuals.
- Research
- Attract and retain best talents
- Provide well integrated and best-in-class technological infrastructure
- Encourage innovation in multiple disciplines.
- Education
- Educate the best healthcare professionals for the future.
Slide 5: Key Stakeholders
- Primary Stakeholders
- Physicians
- Other Medical Staff.
- Leaders of the company.
- Patients
- Researchers and Educationists.
- Benefactors
- Secondary Stakeholders
- Medical Community
- Medical Journals and newspapers
- Insurance Agencies
- Hospital Networks
- Federal Government
Slide 6: SWOT Analysis
- Strength
- Strong Research and education activities
- The quality of medical care provided is one of the best in the world.
- Integrated medical scheduling system
- Collaborative Care model
- Weakness
- Ambulatory care is below national average.
- Variation in service level offered in different clinics.
- Strong diversity synergy required.
Slide 7: SWOT Analysis
- Opportunities
- Translate research developments into medical practice and new areas of expansion
- Affiliate with other hospital networks to extend its reach and scope.
- Threat
- Salary based compensation makes fixed overhead for the hospital.
- Lack of highly qualified medical staff
- Criticism on researches and innovation by competitors and official authorities
Slide 8: Competitor Analysis
- Main Competitors
- Cleveland Clinic
- Allina Health System
- Johns Hopkins Medicine International, L.L.C.
- Gunderson Lutheran LLC
- Sharp Healthcare System.
- Main Competitive Areas
- Research and educational facilities are almost at par with the competitors
- Non-specialist medical care is below the competition average
- Growth through collaboration is slower than some of the competitors.
Slide 9: New Mission Statement
The current mission statement is short and broad. It does not portray the real mission of Mayo Clinic clearly. We need a clearer Mission Statement.
- New Mission Statement
- Recognize the value of every patient and demonstrate this by providing exemplary physical and emotional care for each of the patients.
- Balance the continued commitment to the care of the poor and those most in need with the provision of highly specialized services to a broader community.
- Foster a culture of innovation in all of the activities and by supporting exemplary health sciences research.
Slide 10: New Vision Statement
Mayo Clinic wants to be the most trusted partner in the medical care business, but with the current leadership approach for the future, the vision statement requires little modification
- New Vision Statement
Slide 11: Strategic Alternatives/ Additions
- Collaborate with other healthcare service providers and hospital networks to extend the reach. This will help in
- Increasing reach
- Increasing the number of patients
- Increasing revenue
- Increasing education and research network.
- Internal Integration and Knowledge sharing among physicians in different cases.
- This will improve the quality of diagnosis.
- Reduce the cost of care.
- Create a great integrated knowledge pool which is less dependent on an individual.
Slide 12: Strategic Alternatives/ Additions
- Improve technologically to better serve the patients
- Introduce remote care facilities
- Introduce robots to do standard medical procedures in a more efficient way.
- Give patients tools which monitor health conditions on a real time basis.
- Grow internationally
- Till now Mayo has been conservative about growth.
- It has huge potential to grow both nationally and internationally.
Slide 13: Strategic Direction to Achieve Future Goals
- Improve facilities and expand services by doing heavy capital investment
- Expand in the current locations.
- Invest in specialty research and development like the following:
- The Center for the Science of Health Care Delivery
- The Center for Individualized Medicine
- The Center for Regenerative Medicine.
- Start a tele/video care network for rural patients.
Slide 14: Recommendations
- The basic mission of keeping the patients as first priority always should continue to drive Mayo Clinic.
- It should start investing heavily into specialty medical research which will build its image as the best in class specialty health care provider.
- It should build an integrated network among in-house physicians for knowledge sharing and diagnosis help.
- Mayo is conservative about expansion, but it is time for Mayo to expand globally and nationally through hospital network collaboration and also organically.
