Abstract
The internal analysis is a necessity to assist in the research activities of the hospital and monitor its competitive advantage through a SWOT analysis of the company information. The reader will be able to equip himself with about its operations and identify the potential suppliers and customers as well as get regular updates on the major strategies and developments affecting the operation of the organization. Sheridan Healthcare is a multi-Specialty physician and hospital-based services company that provides physician services in the areas of Neonatology, Anesthesiology, radiology, and emergency medicine. It is also known for office-based services in gynaecology, Perinatology, OBGYN, and pain management in addition to providing support, management, and training in non-clinical areas. This paper, hence gives the reader an insight of the company for business research or academic purpose.
The internal analysis of Sheridan Healthcare
The internal analysis is a necessity to assist in the research activities of the hospital and monitor its competitive advantage through a SWOT analysis of the company information. The information is hence vital in providing a detailed comparative data on various value categories and deals into dealer parts, regions, and sub-sectors (Serge and Adekola, 2012). Internal analysis, hence provides the reader with the elaborate information on its financial deals and other key deals that have shaped the company, giving it an international recognized worldwide (Haine, 2013). The reader will be able to equip himself with about its operations and identify the potential suppliers and customers as well as get regular updates on the major strategies and developments affecting the operation of the organization. This paper, hence gives the reader an insight of the company for business research or academic purpose.
Vital information about the health care
Sheridan Healthcare is a multi-Specialty physician and hospital-based services company that provides physician services in the areas of Neonatology, Anesthesiology, radiology, and emergency medicine. It is also known for office-based services in gynaecology, Perinatology, OBGYN, and pain management in addition to providing support, management, and training in non-clinical areas. Physician-managed and led Sheridan partners with over 351 medical facilities and hospitals across the US, and is owned by Hellman and Friedman, which is a private equity firm. It includes a community of more than 2,200 allied healthcare professionals and physicians with a 98% provider retention rate (Vaidya, 2014).
The company also has over 1,800 anaesthesia providers within 175 programs, thus performing over 900,00 anaesthetics every year. It operates in more than 25 states in the United States with its headquarters in Florida in the US (Wamrack, 2014). It focuses on the strengthening and expansion of its service provision through acquisitions. On that line, the strategy enabled the organization to acquire Medical Anaesthesia Consultants Medical Group Inc., (MACMGI), which is renowned for being a perioperative care provider in Northern parts of California (Global Market Analysis, 2015).
SWOT analysis
Strengths
The health carecentre has well trained and academically qualified team of managers and the general staff that are cooperative in the process of delegating their duties. The organization has strong CRNA groups and hand off MDs that helps the hospital in offering an effective and excellent variety of cases. It is hence flexible in scheduling its daily programs with a more than adequate PTO. It has well-structured buildings, medical equipment, and a good number of staff that enables the organization to be successful in its services. It has a strong financial support through grants and other foreign funding agencies. Hence, it can support activities like training programs to the staff, buy the necessary equipment, and pay workers, among other things without any struggle. Also, it has alliances and deals that provide a comprehensive information and trend analysis for its financings, acquisitions, and mergers. It is centrally located next to the highway, hence making it easily accessible. The health carecentre also has a good record of stable service provision over a long period. It is as a result of the building blocks and challenges it has gone through on its way to success, giving it a reputation in the communities around and even beyond.
The health centre has a wide market in other areas beyond the Unites States borders that can still allow for the expansion and marketing services worldwide. The company can easily get a good competitive advantage over other health care providers, sine it is well established over a long time with a solid transparency in operation. The organization has qualified employees in place, can still improve its performance and service provision. With the available finances and resources, the staff and management can be taken through a diverse training to increase their sufficiency.
Weaknesses
It is difficult scheduling PTO since it is allotted based on the seniority and it has weakened some of the hospital administrative programs (Tumer and Cadle, 2010). For instance, it was advertised that neuraxial anaesthesia and peripheral nerve blocks would be allocated within the CRNAs scope, which was never successful despite the prepare of the CRNA. The CRNAs experience unnecessary and excessive interference in its plans of care creating a nightmare for the corporate is it messes up with the paychecks and payments of the PTO. Healthcare benefits are also overpriced ridiculously, but the regional manager of the corporation does not take quick and necessary actions to correct the challenges (Rudolf, 2011).
According to Clack (2010), it is important to change the organizational culture of a healthcare organization. For instance, it will help Sheridan to begin a safe forum that will bring an all the physicians together with the allied health providers in a collaborative environment. The step will hence bring in a comprehensive academic program for investment of training, education, and development.
References
Clark, P. (2010) “The Best Business Strategy for Medical facilities”, New York Times Medical Journal, Vol. 2, no. 4, pgs. 10-11
Global Market Analysis (2015), Sheridan Healthcare, Inc. - Pharmaceuticals & Healthcare - Deals and Alliances Profile: Global data publication report, Retrieved from http://www.globalmarketanalyst.com/samples/129503/Sheridan-Healthcare-Inc-Pharmaceuticals-Healthcare-Deals-and-Alliances-Profile
Haine (2013).Importance of Internal Analysis in an organization: Creating a Foundation for Business Execution, Oxford University Business Journal: Oxford Business Press, Vol. 7, no. 12, pgs. 16-29
Rudolf, P. (2011) “The Rising Powers from emerging markets: The changing face of International Business”, The Global Strategy Journal, Vol. 10, no. 5, pgs. 15-20
Serge, B. & Adekola, A. (2012) Global Business Management: Financial and Strategic SWOT Analysis Review, Leicester: Ashgate Publishing Ltd http://www.forwardsheridan.com/info/assets/Strategic%20Plan%20Final%20-%20Letter%20Only.pdf
Turner, P. & Cadle J. (2010) Business Analysis Techniques: 72 Essential Tools for Success, Leeds, BCS: the Chartered Institute
Vaidya A (2015), 10 Things to Know About Sheridan Healthcare, Retrieved from http://www.beckershospitalreview.com/news-analysis/10-things-to-know-about-sheridan-healthcare.html
Wamrack, W. (2014) “The performance and Competitive advantage of small firms: A Management Perspective”, International Business Journal, Vol.1, no. 2, pg.15
