Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
Technology & Operations
Strategy / MBA Resources
Case Study SWOT Analysis Solution
Case Study Description of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System
For most Americans, a trip to the doctor's office or a hospital stay necessitates that medical personnel search through paper charts and records as care is administered. This remains the status quo, despite the increasingly large role that electronic communication plays in other aspects of our business and personal lives. The elevated use of information technology (IT) in healthcare settings-primarily via utilization of electronic health records (EHRs), which allow information to be readily communicated and shared among healthcare providers-has been advocated as a means of improving quality of care and helping to control healthcare costs over the long term. Yet, hastened implementation of healthcare IT will require considerable cost incursion in the near term, and will present various other challenges that must be addressed. Herein, we examine the merits and benefits of healthcare IT, as well as the costs and other challenges that may serve as obstacles to its wider implementation and use. We conclude with a set of recommendations designed to increase the likelihood that extensive expansion in the use of healthcare IT will yield the desired benefits.
Swot Analysis of "Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System" written by Julia Adler-Milstein, David W. Bates includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Healthcare Records facing as an external strategic factors. Some of the topics covered in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study are - Strategic Management Strategies, IT, Knowledge management, Personnel policies and Technology & Operations.
Some of the macro environment factors that can be used to understand the Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System casestudy better are - – supply chains are disrupted by pandemic , increasing inequality as vast percentage of new income is going to the top 1%, increasing government debt because of Covid-19 spendings, challanges to central banks by blockchain based private currencies, there is increasing trade war between United States & China, wage bills are increasing, increasing transportation and logistics costs,
talent flight as more people leaving formal jobs, technology disruption, etc
Introduction to SWOT Analysis of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Healthcare Records, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Healthcare Records operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System can be done for the following purposes –
1. Strategic planning using facts provided in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study
2. Improving business portfolio management of Healthcare Records
3. Assessing feasibility of the new initiative in Technology & Operations field.
4. Making a Technology & Operations topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Healthcare Records
Strengths Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Healthcare Records in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System Harvard Business Review case study are -
Superior customer experience
– The customer experience strategy of Healthcare Records in the segment is based on four key concepts – personalization, simplification of complex needs, prompt response, and continuous engagement.
Cross disciplinary teams
– Horizontal connected teams at the Healthcare Records are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Diverse revenue streams
– Healthcare Records is present in almost all the verticals within the industry. This has provided firm in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Digital Transformation in Technology & Operations segment
- digital transformation varies from industry to industry. For Healthcare Records digital transformation journey comprises differing goals based on market maturity, customer technology acceptance, and organizational culture. Healthcare Records has successfully integrated the four key components of digital transformation – digital integration in processes, digital integration in marketing and customer relationship management, digital integration into the value chain, and using technology to explore new products and market opportunities.
Ability to recruit top talent
– Healthcare Records is one of the leading recruiters in the industry. Managers in the Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Successful track record of launching new products
– Healthcare Records has launched numerous new products in last few years, keeping in mind evolving customer preferences and competitive pressures. Healthcare Records has effective processes in place that helps in exploring new product needs, doing quick pilot testing, and then launching the products quickly using its extensive distribution network.
Highly skilled collaborators
– Healthcare Records has highly efficient outsourcing and offshoring strategy. It has resulted in greater operational flexibility and bringing down the costs in highly price sensitive segment. Secondly the value chain collaborators of the firm in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System HBR case study have helped the firm to develop new products and bring them quickly to the marketplace.
Low bargaining power of suppliers
– Suppliers of Healthcare Records in the sector have low bargaining power. Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Healthcare Records to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Healthcare Records has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
High brand equity
– Healthcare Records has strong brand awareness and brand recognition among both - the exiting customers and potential new customers. Strong brand equity has enabled Healthcare Records to keep acquiring new customers and building profitable relationship with both the new and loyal customers.
Effective Research and Development (R&D)
– Healthcare Records has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Innovation driven organization
– Healthcare Records is one of the most innovative firm in sector. Manager in Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Weaknesses Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System are -
Skills based hiring
– The stress on hiring functional specialists at Healthcare Records has created an environment where the organization is dominated by functional specialists rather than management generalist. This has resulted into product oriented approach rather than marketing oriented approach or consumers oriented approach.
Products dominated business model
– Even though Healthcare Records has some of the most successful products in the industry, this business model has made each new product launch extremely critical for continuous financial growth of the organization. firm in the HBR case study - Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System should strive to include more intangible value offerings along with its core products and services.
Slow decision making process
– As mentioned earlier in the report, Healthcare Records has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Healthcare Records even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
Slow to strategic competitive environment developments
– As Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System HBR case study mentions - Healthcare Records takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
High operating costs
– Compare to the competitors, firm in the HBR case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System has high operating costs in the. This can be harder to sustain given the new emerging competition from nimble players who are using technology to attract Healthcare Records 's lucrative customers.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Healthcare Records is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Workers concerns about automation
– As automation is fast increasing in the segment, Healthcare Records needs to come up with a strategy to reduce the workers concern regarding automation. Without a clear strategy, it could lead to disruption and uncertainty within the organization.
High dependence on existing supply chain
– The disruption in the global supply chains because of the Covid-19 pandemic and blockage of the Suez Canal illustrated the fragile nature of Healthcare Records supply chain. Even after few cautionary changes mentioned in the HBR case study - Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System, it is still heavily dependent upon the existing supply chain. The existing supply chain though brings in cost efficiencies but it has left Healthcare Records vulnerable to further global disruptions in South East Asia.
Lack of clear differentiation of Healthcare Records products
– To increase the profitability and margins on the products, Healthcare Records needs to provide more differentiated products than what it is currently offering in the marketplace.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System, in the dynamic environment Healthcare Records has struggled to respond to the nimble upstart competition. Healthcare Records has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Capital Spending Reduction
– Even during the low interest decade, Healthcare Records has not been able to do capital spending to the tune of the competition. This has resulted into fewer innovations and company facing stiff competition from both existing competitors and new entrants who are disrupting the industry using digital technology.
Opportunities Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System are -
Reconfiguring business model
– The expansion of digital payment system, the bringing down of international transactions costs using Bitcoin and other blockchain based currencies, etc can help Healthcare Records to reconfigure its entire business model. For example it can used blockchain based technologies to reduce piracy of its products in the big markets such as China. Secondly it can use the popularity of e-commerce in various developing markets to build a Direct to Customer business model rather than the current Channel Heavy distribution network.
Identify volunteer opportunities
– Covid-19 has impacted working population in two ways – it has led to people soul searching about their professional choices, resulting in mass resignation. Secondly it has encouraged people to do things that they are passionate about. This has opened opportunities for businesses to build volunteer oriented socially driven projects. Healthcare Records can explore opportunities that can attract volunteers and are consistent with its mission and vision.
Building a culture of innovation
– managers at Healthcare Records can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Technology & Operations segment.
Better consumer reach
– The expansion of the 5G network will help Healthcare Records to increase its market reach. Healthcare Records will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Healthcare Records to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Healthcare Records to hire the very best people irrespective of their geographical location.
Creating value in data economy
– The success of analytics program of Healthcare Records has opened avenues for new revenue streams for the organization in the industry. This can help Healthcare Records to build a more holistic ecosystem as suggested in the Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study. Healthcare Records can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Manufacturing automation
– Healthcare Records can use the latest technology developments to improve its manufacturing and designing process in Technology & Operations segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Changes in consumer behavior post Covid-19
– Consumer behavior has changed in the Technology & Operations industry because of Covid-19 restrictions. Some of this behavior will stay once things get back to normal. Healthcare Records can take advantage of these changes in consumer behavior to build a far more efficient business model. For example consumer regular ordering of products can reduce both last mile delivery costs and market penetration costs. Healthcare Records can further use this consumer data to build better customer loyalty, provide better products and service collection, and improve the value proposition in inflationary times.
Leveraging digital technologies
– Healthcare Records can leverage digital technologies such as artificial intelligence and machine learning to automate the production process, customer analytics to get better insights into consumer behavior, realtime digital dashboards to get better sales tracking, logistics and transportation, product tracking, etc.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Healthcare Records can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Technology & Operations industry, but it has also influenced the consumer preferences. Healthcare Records can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Healthcare Records is facing challenges because of the dominance of functional experts in the organization. Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Healthcare Records in the consumer business. Now Healthcare Records can target international markets with far fewer capital restrictions requirements than the existing system.
Threats Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System are -
Easy access to finance
– Easy access to finance in Technology & Operations field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Healthcare Records can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Increasing international competition and downward pressure on margins
– Apart from technology driven competitive advantage dilution, Healthcare Records can face downward pressure on margins from increasing competition from international players. The international players have stable revenue in their home market and can use those resources to penetrate prominent markets illustrated in HBR case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System .
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Healthcare Records in the Technology & Operations industry. The Technology & Operations industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Healthcare Records.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System, Healthcare Records may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Technology & Operations .
Increasing wage structure of Healthcare Records
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Healthcare Records.
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Healthcare Records with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
High dependence on third party suppliers
– Healthcare Records high dependence on third party suppliers can disrupt its processes and delivery mechanism. For example -the current troubles of car makers because of chip shortage is because the chip companies started producing chips for electronic companies rather than car manufacturers.
Backlash against dominant players
– US Congress and other legislative arms of the government are getting tough on big business especially technology companies. The digital arm of Healthcare Records business can come under increasing regulations regarding data privacy, data security, etc.
New competition
– After the dotcom bust of 2001, financial crisis of 2008-09, the business formation in US economy had declined. But in 2020 alone, there are more than 1.5 million new business applications in United States. This can lead to greater competition for Healthcare Records in the Technology & Operations sector and impact the bottomline of the organization.
Technology acceleration in Forth Industrial Revolution
– Healthcare Records has witnessed rapid integration of technology during Covid-19 in the Technology & Operations industry. As one of the leading players in the industry, Healthcare Records needs to keep up with the evolution of technology in the Technology & Operations sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
Regulatory challenges
– Healthcare Records needs to prepare for regulatory challenges as consumer protection groups and other pressure groups are vigorously advocating for more regulations on big business - to reduce inequality, to create a level playing field, to product data privacy and consumer privacy, to reduce the influence of big money on democratic institutions, etc. This can lead to significant changes in the Technology & Operations industry regulations.
Weighted SWOT Analysis of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Paperless Healthcare: Progress and Challenges of an IT-Enabled Healthcare System is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Healthcare Records needs to make to build a sustainable competitive advantage.
