STR week 3 assignment updates and correction
heart1possibleAnu Dwaram – Review by Sarah Kampe
External environmental analysis
I am writing about Gentiva Health Services Inc. It is a healthcare company based in Atlanta, Georgia. The organization provides home health care services such as skilled nursing, cardiac and pulmonary care, infusion services, and medication management and education services among others. (gentiva.com, 2014) The purpose of the organization is to bring a new dimension to the health care industry by talking healthcare services to the patients' homes. The organization leverages on innovation to provide new ways of providing exemplary medical care for patients in accordance with their needs. Its mission is to help patients live a high quality life. I have known this organization for a long time because I believe in their mission. I believe that patients need skilled medical care and education at a place that is most comfortable and convenient for them. That is their homes. The organization is therefore a good choice for my Strategic Plan assignment and has the data that I will require for the project.
The health care industry in the U.S is composed of companies and organizations that offer medical services, products and equipment to treat, protect, and increase the quality of life of the citizens. The industry is made up of a network of interrelated providers from various areas of expertise that coordinate their activities to keep the population healthy. Government institutions, insurance companies, medical device makers, medical research centers, and pharmaceutical companies are major players in the industry.
Evolution of the healthcare industry
Recent trends in the health care industry indicate that healthcare is now being taught as way of life as opposed to the traditional approach of viewing it as a crisis.. Healthcare statistics indicate that the annual doctor visits are increasing. (cdc.gov, 2014) In addition, employers are encouraging their employees to engage in healthy lifestyles by providing them with various incentives such as gym membership and health education. There is growing demand for personalized healthcare services that focus on continuously monitoring of the patients/customers to ensure that they are healthy. These trends provide opportunities for Gentiva to develop products and services to respond to the growing demand.
Healthcare spending
Health care spending is on the increase in the U.S. The total U.S. health care expenditures were estimated to be about $2.9 trillion in 2013. This amount is expected to increase to approximately $3.4 trillion by the year 2016. In terms of the different categories within the health care industry, hospital care accounted for about $929billion of the total expenditure while physician and clinical services accounted for about $588.8 billion. Prescription drugs accounted for about $262.3 billion, while nursing home and home health services accounted for about $238.6 of the total expenditure. In 2013, Health care spending in the U.S was estimated to be about 18.0% of Gross Domestic Product (GDP). The figure is expected to rise further in 2014. However, about 15.4% of the population still lacked access to medical care coverage. (WHO, 2014)
Anu,
I think this is a great first draft for your paper, I made minor suggestions in the formatting/writing of the paper. I tend to get dinged for being a “passive voice” writer; so please use your best judgment!
You certainly have a plethora of information and can continue to expand on how the costs are going to continue to increase. I think you have spent the majority of your current draft focusing more on the healthcare industry, and not necessarily enough focus on your specific company, Gentiva Health Services. I.e. How does Gentiva adjust their sales approaches? How is it adjusting to competitor companies? Does the raise in increase and the 15% of population without coverage a factor? What are the strengths and weaknesses of Gentiva to anticipate long term growth and sustainability?
Thanks Anu, great start!!
Sarah
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