Analyze how the major market factors selected will affect performance of the hospital in the next 3 years|Phoenix Hospital

Phoenix Hospital is a 180-bed acute care hospital that is qualified as a not-for-profit facility. The hospital was originally owned by the county and transferred status to an independent facility three years ago. The hospital receives no external funding from governmental agencies for operations. The hospital is accredited by The Joint Commission and received re-accreditation during its triannual survey last year. The hospital has an aggressive quality management program and a low volume of medical malpractice claims. The hospital is located in Bedford, which is a city of 50,000 with 80,000 in the regional market. The hospital provides a general range of acute care services including medical/surgical, rehab, and emergency care. The president of the hospital has asked you to lead the development of a 5-year strategic plan for the hospital. You will use data provided in this scenario to make your decisions and recommendations.

Please complete the chart using the following information:

•       Identify 3 major market factors from the Phoenix Hospital scenario.

•       Analyze how the major market factors selected will affect performance of the hospital in the next 3 years.

o   Consider real-life current events in health care and how those could affect hospital performance.