NURS 6241 SWOT Analysis Discussion

The SWOT analysis is the process of exploring the internal and external environments of an organization and extracting convenient strategies based on its strengths, weaknesses, opportunities and threats. It is a widely used tool for analyzing internal and external environments in order to attain a systematic approach and support for decision situations (Ghazinoory, Abdi, & Azadegan-Mehr, 2011).

The unmet need our facility is experiencing is a loss of revenue due to diabetic patients being admitted to the hospital when their diabetes can be managed by the use of remote patient monitoring to prevent costly admissions and readmissions.

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Strengths

The strengths our hospital has that will enable and support me in implementing my project is a team of motivated and determined Diabetic Care and Education Specialists. Also, one of the clinicans is a Master’s prepared nurse who also is the Diabetes Prevention Program Coordinator for 7 of our hospitals and the Quality Coordinator for our region. As a Magnet recognized hospital, our facility is always seeking the opportunity for innovative technology to improve the health of the community. Our facility has been successful in implementing a robust cardiac service line that has significantly reduced our hospital readmission rates for heart failure. Furthermore, in looking at the data for diabetic supplies and services rendered we would have the support of our CFO due to the high ROI opportunities for the services provided to these patients.

Weakness

The weaknesses and barriers our hospital has that would block me from implementing remote patient monitoring is not being able to provide the IT support needed for the platform that is used to collect, trend and analyze glycemic results for patients. Also, patients having challenges with Wi-Fi connectivity, not having the Bluetooth technology and not being technical savvy or not having the resources or capabilities to download their blood sugar results into the platform. Another barrier would be not having enough FTEs to support and provide the service for these patients.

Opportunities

The opportunities for implementing remote patient monitoring would be improving our patient experience by having a personal and coaching service with our diabetic patients post hospital discharge. We would reduce readmissions for diabetic patients because the clinicians would be able to be proactive and intervene on reducing glucose readings and improving A1C levels. This specialize team would be able to provide real time counseling and education to these patients on their medications and nutrition. The hospital would be able to achieve better outcomes by lowering A1Cs for this patients. Additionally, the hospital would save 13k per patient on admissions and reduce the risk for complications such as sepsis, stroke and DKA.

Threats

The external threats would be our legal department not approving the project due to PHI being transmitted via an unsecure server. Also, due to the current COVID 19 pandemic these patients may have financial issues and be unable to purchase their diabetic supplies. Another threat is our corporate purchasing and contract department not coming to agreements with commercial, Medicare and Medicaid insurance. All organizations are influenced by challenges like improving quality, increasing competitiveness, and extensive changes in the economic, social, demographic, cultural and technological fields. Therefore, they must adopt certain strategies to guide them in the growing competitions and guarantee their survival (Hamidi & Delbahari, 2011).

References

Ghazinoory, S., Abdi, M., & Azadegan-Mehr, M. (2011). SWOT Methodology: A State-Of-The-Art Review For The Past, A Framework For The Future. Journal of Business Economics and Management; 12(1), 24–48.

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