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SWOT Analysis Running Head: SWOT Analysis: Spectrum SWOT Analysis: Spectrum Health University of Phoenix Management 350 Wayne Bjerregaard, DBA, Facilitator March 11, 2010 Spectrum Health’s vision in 2004 was “to be the nation’s highest quality and most successful health care enterprise by 2010.” To accomplish this, Spectrum put in place a six year, big, bold, and demanding plan. The aim was high and the resolve unwavering. The foresight of the decision-makers has paid off as Spectrum has seen returns on their endeavors in grand fashion. However, Spectrum has not dropped anchor and decided to bask in the rays of success; rather they have begun to ask ‘…what more or what else is there to do'” This means then, the development of more goals and implementation of new programs to improve the lives of those in the community served. One of Spectrum’s strengths lies in the financial soundness of the company. Since the 2004 endeavor of “Vision 2010,” Spectrum has realized an increase in net revenue of close to $3 billion dollars. Spectrum’s Priority Health program has moved far beyond southwest Michigan and is covering families statewide. Spectrum has been a generous contribution to the community to the tune of $500 million dollars as well as foundation fundraising of more that $144 million dollars. During this same six year period Spectrum has created over 2,500 new jobs, continues to cultivate new partnerships, and identify needs that lead to the erection of new buildings, recruitment of highly qualified physicians and blaze the trail for innovation in research and education. This is done while remaining sensitive to the needs of the patients and families served and the commitment to making prudent fiscal and financial decisions. An additional strength alluded to above is Spectrum’s expansive collaborative efforts to ensure continuum of care and resources. In a statement by Richard C. Breon, President & CEO, “Our efforts have been focused on creating the infrastructure required to support a system of integrated care (Breon. Vision 2010. P. 1). Key the health care endeavor is connecting with various entities to meet the needs of the individuals served. It would be short-sided to focus on just the eminent medical need without also considering underlying factors that impact prevention and recovery. To this end, Spectrum has focused efforts “to bring together business, facilities, people, and technology” according to Breon to provide a broad-based care continuum in conjunction with high quality care. This is evident in collaborative efforts with the Van Andel Institute for research, the purchase of MMPC medical group, and advocacy efforts to bring the Michigan State University School of Human Medicine to Grand Rapids. However, no company is without its weaknesses and Spectrum is no exception. In its quest to be the leader, Spectrum has developed a reputation for takeover. Most memorable, a perhaps to some unforgiveable is Spectrum’s, then known as Butterworth Hospital’s takeover of Blodgett Hospital. This merger was not perceived as a merger of two entities, but rather a hostile takeover. The media presented information left the community reeling some in support, and some against the merger. Although the merger took place some 10 or more years ago, for some it is still fresh in their memories. For example, Spectrum has made numerous attempts to partner with health care facilities and providers in the Muskegon area; however, those efforts have been rejected because of the reputation of takeover that precedes Spectrum. This also can be seen in the fallout from the purchase of the MMPC medical group in which many physicians left the group as a result of the purchase. Another weakness is the regional expanse of locations that creates major challenges for core teams such as talent acquisition and technology and information solutions. Whereas plans are being developed and decisions made, the immediate effect is noticed as the human resources talent acquisition team located in Grand Rapids, try to coordinate efforts with locations such as Traverse City. This is also true of the technology and information management team in their efforts to integrate systems and educate staff to Spectrum’s software and database. With strengths and weaknesses also come opportunities (Bjerregaard, personal communication, March 4, 2010). Spectrum Health recently acquired certification for kidney transplant services. This sets Spectrum on the leading edge for services in southwest Michigan as they are the only kidney transplant provider in this region. Receiving this certification is a major milestone for Spectrum as such certification is not easily acquired. Spectrum’s demonstrated success in the area creates opportunity for approval for other organ transplant certifications. Continually raising the bar for quality in health care service delivery, Spectrum intentionally seeks out governing bodies that challenges improvement through standards, systems, and process implementation. From the 1990s to the present day, Spectrum has been the recipient of distinguished awards for services and service categories. Such awards include the Magnet Recognition Status, a recognition award from the American Nurses Credentialing Center, the HealthGrades® Distinguished Hospital Award for Clinical Excellence that has been bestowed for the third consecutive year. The former award is bestowed upon on 5% of hospitals nationally; the latter is held by only 154 hospitals in the nation. These are just two of an impressive list of achievements for distinguished and quality care. Spectrum has been successful forging key partnerships; however, their closest local competitor, MetroHealth, have an opportunity to benefit from Spectrum’s reputation as a takeover monger. Seeking to build collaborative relationships from those entities, physician group and developers who are anti-Spectrum will make MetroHealth a formidable opponent. This can be seen in MetroHealth’s advances starting with the building of a new facility a growing area, highlighted by the building of the M-6 corridor that is a connective highway for the lower southwest quadrant of Grand Rapids and outlying areas to the lower southeast quadrant, leading to the Lansing area. Although over the last six years, Spectrum has been successful in creating 2,500 jobs, the economy both nationally and most important in Michigan will be a threat as families and graduates continue to migrate out of Michigan. Michigan has the highest unemployment rate nationally at 13%. This sustained unemployment rate can only result in more individuals and families leaving to pursue employment. More efforts both in staff and financial investment will be required to entice individuals to stay and attract others to come to Grand Rapids and the other communities served by Spectrum Health. Despite past successes, weakness, opportunities, and threats Spectrum has demonstrated they are a force to be reckoned with. Spectrum has established a history and pattern of leadership and trailblazers. They have been intentional in setting high standards and working to exceed the standards set. Spectrum’s continued focus on identifying the changes in the communities, developing, and implementing programs and services to meet needs will keep them in the forefront of health service delivery. References Bjerregaard, W. (2010) Personal communication. Breon, R. C. Spectrum Health. Vision 2010. Retrieved from InSite. http://www.spectrum-health.org. March 10, 2010.