NHS FPX 5010 Assessment 2 TOWS Matrix Analysis and Strategic Plan
TOWS Analysis
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
Threats
- Modifications to Health insurance coverage.
- Week employee strength.
- Global outbreak.
- Opportunities
- Participating in the community
- Ways to promote
- Public Health
- Weaknesses
- Datasheet inaccuracy.
- Outpatient appointment.
- Strengths
- Numerous sites
- Firmly trained as well as well-trained staff
- Diverse place of the workgroup
TOWS Matrix Analysis
A TOWS (threats, opportunities, weaknesses, and strengths) study compares internal and external aspects to assist a business in identifying viable strategic choices (Benzaghta et al., 2021). The fundamental objective of the matrix analysis is to improve the execution of Healthnet’s strategic goals based on identifying particular components. In addition, this matrix will be based on the company’s strengths, opportunities, and dangers, while minimizing its flaws.
Threats
As a pioneer in the health coverage industry, the Covid-19 worldwide pandemic has significantly influenced Health Net’s organizational structure. Health net has always respected its clients, and the organization cares about how they feel about issues that are important to them. Strategic planning and analysis are examples of factors that have contributed to Healthnet’s status as one of the industry’s leading providers for many years. The strategist frequently must choose the absence of facts demonstrating that one solution is better than another. In addition, this will be seen as something that will assist strategic managers in making more inventive decisions and help organize the data. This may be done so that its consequences are better shown, so judgment and opinion are more informed (Alzoubi & Aziz, 2021).
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
Many local individuals’ health insurance coverages have altered in recent years. Several health insurance policies either pay for fifty percent of the services that are performed or refuse to authorize medical treatment for a variety of reasons it may also (Vanness et al., 2021). This may significantly impact the company’s insurance billing and result in a decline or loss of income. Insufficient personnel is another contributing issue. Due to the paucity of available hours, the firm has had a high employee turnover rate, which might lead to overwork for the remaining workers. This may also be shown by a rise in the frequency of paperwork mistakes and unfinished tasks, which may lead to a decline in the number of patients, a lack of customer service, a decline in revenue, and, ultimately, a reputation loss among rivals. To achieve a sustained competitive edge, a business must establish specific objectives, plans, and processes.
Opportunities
Numerous potentials were identified for Healthnet, but community involvement is the initial area of emphasis. This action will enable the firm to present its brand and reach as many people as possible. Patients can compare the services offered by their firm to those of other health coverage providers in the region. They will also see the company’s culture, principles, and commitment to sustainability via the staff’s friendliness. This incentive is essential for Health Net to regain its competitive edge reputation. To keep ahead of rivals in the industry, businesses must know that marketing is the key to being vital and relevant. Advertising and marketing are instrumental approaches used to increase service awareness and aid in recruiting new patients (Sudbury Riley & Hunter Jones, 2021). It is also possible for it to come in the form of educational flyers, the website of the firm, social media, and third-party scheduling via Tele Health, all of which will save time for the patients as well as the staff as compared to the old ways of scheduling patients there. The health net has always prioritized patient safety, notably during worldwide pandemics such as the COVID outbreak.
Weaknesses
The firm was manifestly deficient in some areas, the first being its inability to schedule patients in a timely way. Given that so many workers have been missing from the firm due to the pandemic, the remaining workforce has been forced to take up a great deal of extra work. This implies that critical everyday chores are not being accomplished. Putting patients on wait for a lengthy amount of time will encourage them to schedule appointments with rivals who can satisfy their demands in a more timely way. Since the organization has faced labor shortages, complaints about paperwork mistakes in the current workforce have increased. This is prompting the remaining staff to make mistakes such as incomplete paperwork and uploaded records without patient signatures on the forms, which are accessible to numerous doctors through EMR systems.
Strengths
The fact that Healthnet has three million customers in California and can support them thanks to its 2,600 employees and 90,000 network providers is one of the company’s strengths. In order to make the community as a whole better, Health Networks along with community organizations advocate for healthy lifestyles, combat poverty and violence, and more. Health Net supports the California Partnership to End Domestic Violence with pride. During the COVID-19 epidemic in 2020, Health Net gave approximately $130,000 to help domestic abuse survivors (Health Net Group, About us. n.d.). Additionally, Health Net has joined with Donate 4 Sacramento to guarantee that the most vulnerable people in the community get the necessary assistance throughout the epidemic.
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
To enhance health equality and make COVID-19 vaccines available to as many Californians as possible, Health Net gave over 22,000 vaccinations to citizens in 70+ communities around the state. Health Net flew over 40,000 miles and conducted over 210 immunization clinics in less than a year (Health Net Group, About us. n.d.).
Health Net also offers access to drug addiction programs, mental health services, employee support programs, and managed care solutions for prescription medications. Health Net, LLC and its related businesses, including Health Net of California, Inc., Health Net Life Insurance Company, and Health Net Community Solutions, Inc., provides these medical insurance plans and services. These organizations are wholly-owned subsidiaries of Centene Corporation (NYSE: CNC), a Fortune 25 firm that provides health insurance to approximately 26 million Americans (Health Net Group, About us. n.d.).
The commitment and unique business approach of Health Net led to the development of additional equality projects throughout the state, such as improved postpartum care for African-American women in the Los Angeles area. Health Net have narrowed the gap in cervical cancer screening among Chinese women in the San Gabriel Valley, increased immunization rates among Russian children in Sacramento, collaborated with respectable community organizations to boost access to preventative care for the Latinx community, and so much more.
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Through cultural competency training at all levels and unconscious bias training for doctors, Health Net targets health equity from the bottom up, intending to lower existing imbalances and eliminate injustice at its root. These pieces of training benefit not just members of Health Net but all patients treated by the professionals participating in them. Health Net is also aware that many of its members have a variety of skills and impairments, and it makes an effort to meet their needs by providing communication accommodations (such as Braille and American Sign Language) and staff and provider training that enhance assistance to members who have these types of needs.
Health Net’s efforts are successful because the company understands that achieving equity requires beginning with culturally and community-specific interventions and having the resources and national backing necessary to carry out effective programs. The great variety of California is mirrored and amplified in its Medi-Cal population (Houston et al., 2022). Health Net recognizes that Medi-Cal patients’ requirements are as varied as the community’s. Health Net has developed teams, methods, and strategies to tear down barriers, increase access, and minimize health inequities.
Health Net pioneered a novel and award-winning approach to health equality. Managing successful relationships and encouraging responsiveness at the member, provider, and community levels boosts care quality and access for those who need it most. Due to these efforts, Health Net was the first health insurance provider to be awarded the NCQA accreditation for multicultural care.
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
Strategic Plan
Company Overview
Health Net was created in California over four decades ago. They think everyone deserves a health safety net, regardless of age, income, work position, or present health condition. As a consequence, Health Net offers medical coverage for all phases of a person’s life and promotes health equity via the implementation of forward-thinking treatment protocols. Currently, the 2,600 employees and 90,000 network providers who make up Health Net’s workforce service three million consumers in the state of California. Health Net offers a wide range of medical coverage options, such as Medi-Cal, Medicare, and individual and family health insurance (Health Net Group, About us. n.d.).
Mission – Improving access to excellent care starts locally. Regardless of age, income, work position, or present health condition, every individual needs a health safety net.
Vision – telemedicine for medical and mental health assistance, including lab and medication orders, as well as the proper transition of care; to be a leading organization in the United States in providing the chance to live well and work well.
Values – Workplace culture, collaboration, innovation, models, and techniques that strive to eliminate obstacles, increase access, and decrease health inequalities.
Business Concept
Access to treatment for substance addiction, mental health services, employee support programs, and prescription medication management solutions is provided through Health Net.
Health Net is committed to expand their business, and trusted to provide quality care to the customers. This can be confirmed with the financial strength of the parent company Centene Corporation. Centene is the 3rd largest health insurer in the United States, presently Health Net has 5724 Employees, with 2020 reported revenue of over 111+ billion dollars, with an overall membership as of March 2021 is 25.1 million (Banham, 2022). Total assets of the organization is approximately estimated as $70.3 billion with $25.6 billion in cash and investments. Centene’s subsidiaries had aggregate statutory capital and surplus of $14.2 billion, expected a revenue of $120.1–122.1 billion in coming year.
Target Customers
The organization’s goal is to remain devoted to our patients in the community while expanding its activities outside of California to serve more individuals and help the company develop.
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
| TOWS Analysis | |
| Internal Factors | External Factors |
| Strengths Numerous sitesFirmly trained as well as well-trained staffDiverse place of the workgroup | Opportunities Participating in the communityWays to promotePublic Health |
| Weaknesses Datasheet inaccuracyOutpatient appointment | Threats Modifications to Health insurance coverageWeek employee strengthGlobal outbreak |
- Strategy: Obtain certification from a recognized standard-setting authority.
The strategy’s corresponding objectives:
- Ensure that your organization continues to have its accreditation from The National Committee for Quality Assurance (NCQA).
- The Joint Commission on Accreditation of Healthcare Organizations (JCAHO) (JCAHO).
- Strategy: Patients will likely see changes to their health insurance coverage due to the ongoing worldwide epidemic.
The strategy’s corresponding objectives:
- In order to increase the number of people covered by health insurance, the company’s policies and credentialing procedures should be reviewed. Make cash payments available to all of the patients.
- Strategy: The firm has struggled with a lack of available workers.
The strategy’s corresponding objectives:
- Assignments should be assigned relatively throughout the crew to reduce unnecessary overtime and the overall amount of labor.
- Increased employee participation in corporate activities has been shown to increase overall productivity.
- Provide incentives for completing a tremendous amount of tasks without making any mistakes.
- Strategy: The business has to develop a new marketing and advertising strategy and implement it.
NHS FPX 5010 Assessment 2 Attempt 2 TOWS Matrix Analysis and Strategic Plan
Corresponding goals to support the strategy:
- Should make use of social media platforms such as Facebook and Instagram to reach a more vast audience.
- Make use of telehealth options so that patients may be scheduled more quickly.
- Use of print media to notify patients in the community about the services that are offered and the hours that they are available
References
Alzoubi, H. M., & Aziz, R. (2021). Does emotional intelligence contribute to quality of strategic decisions? The mediating role of open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 7(2), 130.
https://doi.org/10.3390/joitmc7020130
Banham, R. (2022). Jana Utter: Centene Corporation. Risk Management, 69(3), 8-11.
https://www.proquest.com/openview/ecef3454f15b0363063b3614afe5e31c/1?pq-origsite=gscholar&cbl=47271
Benzaghta, M. A., Elwalda, A., Mousa, M. M., Erkan, I., & Rahman, M. (2021). SWOT analysis applications: An integrative literature review. Journal of Global Business Insights, 6(1), 55-73.
DOI: 10.5038/2640-6489.6.1.1148
Health Net, About us. (n.d.). 2021 Health Net gruop.
Retrieved fromhttps://www.healthnet.com/content/healthnet/en_us/about-us.html
Houston, A. R., Da Fonseca, T., Joseph, T. D., & Lincoln, A. K. (2022). Challenging federal exclusion: Immigrant safety, health, and healthcare access in sanctuary cities. Health & Place, 75, 102822.
Sudbury-Riley, L., & Hunter-Jones, P. (2021). Facilitating inter-professional integration in palliative care: A service ecosystem perspective. Social Science & Medicine, 277, 113912.
https://doi.org/10.1016/j.socscimed.2021.113912
Vanness, D. J., Lomas, J., & Ahn, H. (2021). A health opportunity cost threshold for cost-effectiveness analysis in the United States. Annals of internal medicine, 174(1), 25-32.