Expert answer:HSA4140 Saint Petersburg College Aetna SWOT Analys

  

Solved by verified expert:Please only complete ….Only complete the (Opportunities) at least 2 opportunities.(Opportunities )- one page committed to the opportunities of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. It is important to note the areas in which the HCO can improve the quality of health care provided and the services offered in comparison to that of other HCO’s and federal regulations.***How can the opportunities help maximize or create longevity within the HCO?***The HCO we are using is Aetna and I am providing this link https://www.aetna.com/about-us.html to better assist us with the information needed. However, you are not limited on what information can be used as a resource. Just be sure to cite the source and try to keep the information current within the past 5 years. Above all remember to be creative and thorough. Include at least 4 paragraphs***Keep in mind the current economy, competition, changes related to healthcare regulations as well as technological advances and consumer demands. Please provide information relative to internal and external factors in your description. Also keep in mind the HCO’s Mission, Vision and Values statements as they help lay the groundwork for the way the HCO presents themselves to consumers and their competitors. ***Please select from one of the following as your contribution to this project.Strengths ( & Conclusion) – one page committed to the strengths of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. Make sure to note the ways in which Aetna exceeds healthcare standards and quality measurements. This includes how well the HCO is rated in comparison to other service providers and consumer expectations.***How can the strengths be maximized***Weaknesses (& Title Page )- one page committed to the weaknesses of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. Be as specific as possible and remember to stay grounded in what creates a weakness within the HCO whether it be internal or external such as: Corporate culture or environment. Is the HCO securely funded? Does Aetna have a diverse network of providers and facilities?***What internal/ external factors contribute to the weaknesses and how can these be improved?****(Opportunities )- one page committed to the opportunities of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. It is important to note the areas in which the HCO can improve the quality of health care provided and the services offered in comparison to that of other HCO’s and federal regulations.***How can the opportunities help maximize or create longevity within the HCO?***Threats (& Strategic Plan)- one page committed to the threats of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. Make sure to include updated information as to why the noted threats put the HCO at a disadvantage. Is the HCO securely funded? Does Aetna have a diverse network of providers and facilities?**** Do any of the threats put the company in danger of closing? Losing patient/ provided networks? How do the threats hinder the organization and limit its potential growth?***Please only complete ….Only complete the (Opportunities) at least 2 opportunities.(Opportunities )- one page committed to the opportunities of the HCO. Please be sure to be as specific as possible and make sure to include appropriate citations from the provided link and any additional source you use. It is important to note the areas in which the HCO can improve the quality of health care provided and the services offered in comparison to that of other HCO’s and federal regulations.***How can the opportunities help maximize or create longevity within the HCO?***THE SWOT ANALYSIS ASSIGNMENTUsing the Publicly-traded HCO’s annual report (10-K report can be found online through the company’s web site) your team must complete the following assignment.Each team must create and submit one APA-formatted document that includes:APA-formatted title page – All team members must be listed vertically in alphabetical order (by last name). The document must have a running head and all pages must be numbered. Please submit document in Times New Roman or Arial font, size 12, following guidelines for HSA writing. Use Level 1 heading for each section of the paper (e.g., strengths, weaknesses, etc.).Provide one page dedicated to the strengths of the organization in paragraph form.Submit one page dedicated to the weaknesses of the organization in paragraph form.Provide one page dedicated to the opportunities available (nationally and/or internationally) to the organization in paragraph form.Submit one page dedicated to the threats of the organization in paragraph form.Using supporting evidence, discuss your team’s viewpoint as to what strategic steps the organization can take to improve production, customer service, or any aspect you see as important to the organization’s ultimate success (1-2 pages) in paragraph form.On the final page of the document, deliver a well-worded strong conclusion in paragraph form.Nowhere in the paper should there be numbered lists.Submit an APA-formatted References page.The paper needs to be in the correct order with strengths, weaknesses, opportunities, threats, strategic plan and conclusion.Figures, tables, or graphs may be used if relevant to the topic being discussed. If used, their presentation should conform to APA format.Attached is the weaknesses that was already completed for this project.
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Running header: AETNA SWOT ANALYSIS
Aetna SWOT Analysis
Strategic Health Management and Planning – HSA 4140
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AETNA SWOT ANALYSIS
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AETNA SWOT ANALYSIS
Weaknesses
As a healthcare organization, Aetna faces many weaknesses in its day to day operations.
These weaknesses make it hard for Aetna to fulfill its mandate of providing healthcare services
sufficiently. One weakness of Aetna is that even though it is spending a lot in research and
development, the amount is less compared to the competitors. It gives the competitors an
advantage, for example, because they have innovative products. Aetna has high day sales
inventory. Therefore, the time between purchasing products and selling them is a lot more than
the average in the industry. The result is that Aetna keeps building upon its inventory, thus high
unnecessary costs to the organization (Ginter, 2018).
Aetna has a lot of property which is rented, rather than purchased. It translates to the
payment of rent on this property, which drains earnings. Aetna has a low current ratio, and
therefore, it becomes hard to meet some of the short-term financial obligations. The company
also has fewer existing assets compared to the current liabilities, which can lead to costly
liquidity problems in Aetna’s operations. Aetna lacks efficient financial planning, which leads to
cash flow problems. In Aetna, the workforce is not diversified since it is composed of only local
workers, which is terrible since it can make it difficult for workers from diverse racial
backgrounds to adjust to the workplace fully. It can also lead to loss of innate talents. Aetna has a
high workers turnover rate, which means that the company keeps recruiting, thus spending a
large amount of money in training and development (Manne, 2016).
Another weakness of Aetna is that it has a lower budget to fund its quality control
department. On the other hand, the competitors are better off with higher budgets. Aetna has few
AETNA SWOT ANALYSIS
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workers compared to the actual number required. It means that the workload per worker is also
higher. Workers are subjected to psychological stress due to the heavy workload, thus becoming
less and less productive. In recent years, politics and company culture have grown significantly.
This has lowered the morale of employees. Over the past few years, competition and qualified
workers have been leaving the company, thus loss of crucial talent to competitors. In the
company, the decision-making process has become very centralized. Therefore, company
decisions must be approved by officials. This lowers the efficiency of company operations by
making the process more time-consuming. It also interferes with innovation.
To deal with the above challenges, Aetna needs to act fast to remain relevant in the
industry. First, the company needs to increase the amount of money spent on research and
development. The company also needs to reduce the high day sales inventory to minimize
inventory buildup. To reduce the amount spent on renting property, Aetna needs to come up with
plans of building its. Aetna needs to diversify the workforce, and this will make the workers
adjust faster in the workplace. Other steps that Aetna can take include conducting more market
research, increase the budget for the quality control department, reduce the workload per
employee, ensure decision making in the company is not centralized and finally, look for ways of
ensuring that workers do not leave (Weeks, 2016).
AETNA SWOT ANALYSIS
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References
Ginter, P. M., Duncan, W. J., & Swayne, L. E. (2018). The strategic management of health care
organizations. John Wiley & Sons.
Manne, G. A., & Sperry, B. (2016). When Past Is Not Prologue: The Weakness of the Economic
Evidence against Health Insurance Mergers?
Weeks, K. (2016). Agile, online supply chains. Strategic Direction, 32(11), 35-37.
https://www.aetna.com/about-us.html

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