Competitive Analysis: The St. Mark's Hospital

The strategic plan is highly correlated to the fundamental success of an organization and offers detailed guidance for achieving the mission and vision. The St. Mark’s Hospital (STMH) administration and leadership created a three year strategic plan in conjunction with employee contribution and feedback. The mission, vision and goals have not changed throughout the years, but the strategic goals have altered over time to adapt to the ever-changing field of healthcare.

The purpose of this paper is to discuss STMH’s goals, strategic thinking and key stakeholders, organizational-level strategy, competitive analysis, directional strategies, adaptive strategy, and value –added services.

Goals, Strategic Thinking, and Key Stakeholders

STMH defined

In order to assure organizational success, a competitive analysis is vital to perform. The framework of an effective market strategy should involve identifying the surrounding groups of organizations that can be distinguished from others, patterns that occur in the market, and the competitive level that occurs within and among them (Ruzo, Barreiro, & Losada, 2006). The identified competitors are Salt Lake Regional Medical Center (SLRMC) and Intermountain Healthcare (IHC). Both organizations are accredited by The Joint Commission (TJC) and provide identical services: cardiology, critical care, gastrointestinal (GI), orthopedic, neurology, neurosurgery, pulmonary, bariatric, men’s health, women’s services: labor and delivery, obstetrics, and gynecological, newborn, oncology, rehabilitation, and behavioral/mental health. The differences include the number of inpatient beds (SLRMC has 158, STMH has 317, and IHC has 220) and STMH has additional services which the other two facilities do not

The STMH vision, mission, and core values have not changed since its initial conception. The vision is to be Utah’s finest hospital. The Mission is to provide care for patients in harmony with our long tradition of quality and compassion. The core values include putting the patient first and all else will follow, serving the needs of others with compassion, doing the right thing with the right attitude (integrity), and being the teammate co-workers trust and value. The strategic goals are the all-encompassing outcomes that the organization practices to achieve its mission and vision (Ginter, Duncan, & Swayne, 2013). STMH stated strategic goals are to increase and focus on patient experience, network capture, service lines, managed care, and efficiency of