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SWOT Analysis For Cardiology Practice

A SWOT analysis is used to assist those involved in the strategic planning process in compiling information pertinent to formulating the rest of a strategic plan. Although the information garnered from such an analysis can help to formulate strategies, the SWOT analysis itself does not always render concrete answers. For example, something found in the SWOT analysis might not fit neatly into one of the categories, but instead can be placed in several depending on which perspective you are looking at the characteristic from.

Assume that you are asked to complete a SWOT analysis for a fictional, large, physician cardiology practice. You are having a hard time fitting all of the characteristics into the SWOT analysis categories. After careful deliberation, you complete the analysis and submit it for review to the practice manager.

Give 2-3 examples for each of the SWOT categories for your cardiology practice SWOT analysis.
How would you explain why you placed the characteristics in their respective categories, and what advice would you give them on analyzing the results of the SWOT analysis?

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Solution Preview

We commence the SWOT analysis for a large physician cardiology practice. The strengths of the practice are the qualification and experience of the physician Dr. Alexander Fernandez. The second strength of the clinic is that it carries out and reports all tests on the same day. The third strength of the clinic is that it has all the equipment required. It has ECG equipment, ultrasound equipment, defibrillators, treadmills, ventilators, and procedures for cauterization.

The weakness of large physician cardiology practice is that patients are not getting their questions fully answered during their visit. The second weakness is that only a limited type of insurance policies is accepted by the practice. The third weakness is that Dr. Fernandez is too aggressive with tests.

The opportunity for large physician cardiology practice is that the number of patients available and seen by the clinic will increase if the physician cardiology practice accepts health insurance from a larger number of companies. ...

Solution Summary

The answer to this problem explains the internal and external factors that effect a cardiology practice. The references related to the answer are also included.