Genesis HealthCare SWOT Analysis
Genesis HealthCare is a company that specializes in the provision of both short-term and long-term rehabilitative and nursing services. It has over 200 centers spread all over the US and employs 8000 people (Forbes, 2014). Its mission is to deliver high quality healthcare services in a compassionate manner. Its vision is to set the standards in rehabilitative care and nursing by means of clinical excellence and catering to the unique needs of each patient. Its core values are respect and appreciation towards each other; compassion and care towards patients; teamwork; creativity and innovation; discipline and focus; and honesty and integrity (Genesis HealthCare, 2014).
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The strengths of the company are its highly experienced medical staff; well equipped rehabilitative facilities (including ventilator care, cardiac management, orthopedics, dialysis and neurorehabilitation), excellent healthcare quality and a strong commitment to its mission. To show its commitment to its mission, the company became of the 28 members of the “Advancing Excellence” initiative that aims to better healthcare. The company aims to accomplish all 8 goals stated in the initiative (of which only 3 are required) (Genesis HealthCare, 2014). All these strengths have made Genesis HealthCare very successful. Its reported revenue for 2014 is $4.68 billion (Forbes, 2014).
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Its weaknesses are a shortage of vital staff that provide critical services such as cardiac management as well as a lack of collaboration with other companies that also provide healthcare services.
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The company’s opportunities are plenty; these include collaborating with other healthcare companies by forming better healthcare delivery associations. This will improve service delivery to the patients. Another opportunity is through partnering with the communities in the areas its branches are located (for instance New York, Colorado, Arizona, New Mexico, Ohio, Washington, Utah, Montana and Alabama) to create novel healthcare programs. This will increase patient satisfaction.
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The threats the company faces include rising federal budget shortfalls, a rising number of an uninsured population that cannot pay for healthcare, economic and political uncertainties, and a growing demand to cut healthcare costs. All these can negatively impact on the company’s performance.
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