Founded in 1945, Shouldice Hospital is the global leader in hernia repair. Dr. Edward Earle Shouldice founded the Shouldice Hospital. Dr. Shouldice founded the hospital after he developed a new technique for hernia repair that cut the recovery time down from three weeks to three days. Dr. Shouldice revolutionary technique allowed patients to become ambulatory immediately after the surgery was performed. Prior to this technique patients would have been bed ridden for weeks. The Shouldice Hospital has also developed a type of care that they call the Shouldice model. The Shouldice Hospital is located on a country estate. A stay at the Shouldice Hospital feels more like a stay at a country club than a hospital. Shouldice Hospital offers a very high level of customer intimacy by keeping a friendly staff and putting patient care quality as their top priority. Because of this the Shouldice hospital has a very high reputation and very high customer loyalty. Combining Dr. Shouldice revolutionary technique in hernia repair in conjunction with the application of the Shouldice model the Shouldice Hospital has become the most respected and in demand hospital for hernia repair in the world. Below is a SWOT analysis of Shouldice Hospitals current business operations.
SWOT ANALYSIS
STRENGTHS
WEAKNESSES
Specialized superior technique
Narrow product line
Great reputation
Only 1 location
Customer intimacy through staff
Inability to meet demand
High level of customer loyalty
Limited capacity
Experience like no other hospital
Inefficiency due 3 day inpatient care
Country club atmosphere at facility
Negative reputation from turning away some
Brand recognition of service is high
Patients
Patient care quality is high The Shouldice Model The Shouldice Technique
OPPORTUNITIES
THREATS
Expansion of current facility
Competitor opening in our market
Expansion to new locations and markets
Competitor copying the Shouldice market
Ability to specialize to new surgeries
Government involvement
Ability to apply Shouldice model to other surgeries
Competitor opening in markets we are not in and stealing unserviced demand
Ability to sell the Shouldice model
Loss of customer care quality with expansion
Shouldice Hospitals business operations are very successful due to the hernia repair technique that Dr Shouldice developed. The decreased bed rest time that was achieved through this technique is what the hospital was built upon. The fact that a patient is encouraged to walk from the operating table to his wheel chair instead of lying in a bed for three weeks is the hospitals greatest strength. The level of quality service it offers to the patient supports this. Between the staff, atmosphere and minimum three-day stay the hospital has created a strong model for patient service and care. This care has led to a very high amount of loyalty from its customers that have translated into strong brand recognition in the field of hernia repair.
The Shouldice hospital currently offers one type of service. This service is hernia repair. This narrow product line limits the size of the market that we can service. The fact that we only offer one location and are all ready at capacity is a weakness. Shouldice's requirement to have a patient stay a minimum of three days for an operation is also a weakness. This is an inefficiency step in our process that negatively impacts our capacity.
The opportunities for Shouldice largely deal with expansion. Shouldice is currently not meeting demand. One way to meet demand and increase profit is to expand either at our current location or to expand in to new markets. Shouldice could also look into differentiating its product line by applying the Shouldice model to different types of surgeries that may fit. Shouldice may be able to even sell its model to other specialist as a business model.
The threats that currently face Shouldice largely come
about Investments in stock and investment in bonds Two categories on bal. sheet -- current asset long-term Primary accounting questions : 1. Valuation-- historical cost or market value 2. Recognition-- if market value is used, how should gain or loss be recorded Types of securities---see diagram…
ASSIGNMENT #2 20 OCTOBER - 26 OCTOBER [Out of all the Ten competitiveness factors select one for the ACCT and discuss how you will use this factor to bolster its operations. Make your discussion in points.] Raju Makwana Fall 2014: BUS515-2674 Email: hiraju.baroda@gmail.com A competitive advantage is an advantage gained over competitors by offering students greater education, either through economical prices or by providing additional benefits and service that justify similar, or possibly higher…
Amanda Burgart Chapters 3 & 4 Homework 2/20/12 E3.6. | | a. | ROI = ($83,700 Net income / $2,790,000 Sales) x (2,790,000 Sales / 1,395,000 Average total assests) = 6.0% Turnover = (2,790,000 Sales / $1,395,000 Average total assets) Turnover = 2 Margin = ($83,700 Net income / $2,790,000 Sales) = 3.0%…
insurance companies offering products including software, analysis, research and reporting, valuation services, website development and hosting as well as photography services. This segment also includes display advertising related to these divisions. ACCT 7106 Financial Statement Analysis – Team Project Part A Page 1 Overview of Macroeconomic Conditions International Economic Outlook The conditions of the global economy show signs of weakening since mid-2011, a situation that persisted…
receivable total changes every time a charge, payment or adjustment is made to an account Manual Accounting Called the pegboard system or “one write” system Day sheet tracks daily transactions, payment, charges for service and adjustments to pts accts (legal Doc) Ledger card Financial record of the pt (legal Doc) (patient Statement) Filed alphabetically in a ledger tray Ledgers are kept forever; they are not shredded at the end of the year Posting Applying a charge, payment or adjustment to a…