COMPANY PROFILE -Providence St. Joseph Health
Business Sector :Healthcare
Operating Geography :United States, North America
About Providence St. Joseph Health :
Providence St. Joseph Health is a non-profit health care organization headquartered in Seattle, Washington. In 2016, Providence Health & Services which is based in Renton, Washington and St, Joseph Health, based in Irvine, California amalgamated to form Providence St. Joseph Health. As of 2021, the Group operates in seven states and serves as the parent organization to approximately 120,000 caregivers, 52 hospitals, 1,085 clinics and has a comprehensive range of health and social services across Alaska, California, Montana, New Mexica, Oregon, Texas and Washington. Providence has a wide range of initiatives and some of it includes Mental Health, Telehealth, Community Technology, Clinical Institutes, etc. In early 2020, the non-profit health care organization admitted the first known Covid-19 patient in the United States. It also launched Covid At-Home Monitoring, within weeks at scale to address Covid-19. With its superior clinical performance and the leading resource that connects consumers, physicians and health system, Providence St. Joseph Hospital received the Healthgrades 2021 America’s 250 Best Hospitals Award.
Providence St. Joseph Health’s unique selling point or USP lies in serving the vulnerable population with its innovative and affordable care. Providence St. Joseph mission statement reads, “As expressions of God’s healing love, witnessed through the ministry of Jesus, we are steadfast in serving all, especially those who are poor and vulnerable.”
Providence St. Joseph Health Revenue :
$ 25,675 million - FY ending 31st December 2020 (y-o-y growth 2.59%)
$ 25,025 million - FY ending 31st December 2019
Competitive Analysis of Providence St. Joseph Health
The SWOT analysis for Providence St. Joseph Health is presented below in a matrix followed by the detailed analysis report
Strengths | Weaknesses |
1. Widely distributed infrastructure to support operations across multiple states
2. Less susceptible to external shocks like COVID
3. Best in class ambulatory care network to support daily operations
4. Strong growing financials and profits
5. Multiple healthcare initiatives taken by the company may drive revenues
| 1. Lack of geographic diversity of hospitals across US limiting growth
|
Opportunities | Threats |
1. Growing opportunities provided from grants from CARES Act and Medicare
2. Strategic long term community partnerships may help in sustainable growth
3. Ability to incorporate technology solutions into the healthcare facilities provided
4. Incorporating telehealth capabilities may attract new user base
| 1. Escalating cyberattacks on US hospitals may smear the reputation of the company
2. Large number of competitors in the healthcare sector limits company’s growth
|
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Detailed SWOT Analysis of Providence St. Joseph Health
Strength
1. Widely distributed infrastructure to support operations across multiple states: Providence St. Joseph Health is a national, nonprofit Catholic health system which comprises of a diverse family of organization. Providence has about 1000 clinics and 51 hospitals working under it along with providing health and educational services. Apart from it, the company also has more than 120,000 caregivers who serve patients in communities across several western states in USA. The company serves in a dynamic, contiguous markers with growing population which has led to consistent increases in service utilization. This Catholic health care system has 29 long-term care facilities, 16 supportive housing facilities, over 8000 directly employed providers and more than 25,000 affiliated providers to help in the operations of the company. It provides a wide range of services which includes community health investments, integrated delivery system if acute and ambulatory care for inpatients and outpatient services, senior care, financial assistance programs, a health plan, and educational ministries that include a high school and university. The large infrastructure helps in catering to the large number of patients and provide world class services to them.
2. Less susceptible to external shocks like COVID: Providence’s exclusive strategy for dealing with health crisis, made it uniquely positioned to respond to the ongoing rise in infection due to COVID-19. However, health and care of the patients and caregivers remained first priority for the company as they proceeded to respond with the continual flow of Covid-19 cases while also meeting the other needs of the patients. To ensure the safety of its patients and caregivers, Providence followed a three part plan: respond, recover, renew. A comprehensive response plan was developed during the early days of the crisis based on predictive analysis. A significant amount of investment was made to deliver new and innovative ways of providing health care services inside and outside the hospital setting, through digital, outpatient and at-home channels.
The remaining section under "Strengths" is available only in the 'Complete Report' on purchase.
Weakness
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Opportunity
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Threats
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Providence St. Joseph Health is presented below in a table followed by the detailed analysis report
Political | Economical |
1. Impact of Biden administration on the hospitals and healthcare industry
2. US-China trade war affects the hospitals and will raise the operational costs due to tariffs
| 1. Impact of COVID-19 on hospitals and healthcare industry in USA
2. Rising healthcare spending by US government will drive growth in the industry
|
Social | Technological |
1. Hospitals must incorporate changes to provide telehealth services post COVID | 1. Rising use of telehealth and virtual reality on patient care
2. Risk of cyberattacks on hospitals
|
Legal | Environmental |
1. Hospitals need to follow the regulations of Medicare and Medicaid in USA
2. Medical privacy laws need to be adhered by the companies
| 1. Impact of climate change on USA’s hospitals and healthcare industry |
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Detailed Pestle Analysis of Providence St. Joseph Health
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Impact of climate change on USA’s hospitals and healthcare industry: Climate change has many impacts on the environment such as bad air quality, negative impact on food and water supply and quality, bad weather condition, which ultimately have a profound impact on human health. Policy statements have been issued by various medical professional societies to call on their physician members to reduce health care’s carbon footprint, advocate for government policies that reduce greenhouse gas emissions and educate their patients about climate change and health. Climate change has numerous health effects including increased respiratory and cardiovascular disease, injuries and premature deaths and heat related illnesses. According to the World Health Organization, approximately 80% of the health effects of climate change impacts children under the age of five. Additionally, climate change also impact health care delivery and access. Weather conditions can disrupt infrastructure, utilities, transportation and communication systems, making it difficult to maintain access to emergency services and health care. Moreover, hospital supply chains may also be disrupted, resulting in shortage of necessary pharmaceuticals and medical devices.
Major Competitors :
- John Hopkins Medicine
- Cleveland Clinic
- Mayo Clinic
- Moda Health
- Trinity Health
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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Check Out Analysis of Other Relevant Companies
References used in Providence St. Joseph Health SWOT & PESTLE Analysis Report
1. The Future of Health for All | Providence - https://www.providence.org/about
2. Financial Statements | Providence - https://www.providence.org/about/financial-statements
3. Providence Health Care Initiatives | Providence - https://www.providence.org/about/initiatives
4. Health Care After COVID: The Rise of Telemedicine - https://www.usnews.com/news/health-news/articles/2021-01-05/health-care-after-covid-the-rise-of-telemedicine
5. Defending U.S. Hospitals Against Today’s Cyber Threats - https://www.cisecurity.org/blog/defending-us-hospitals-against-todays-cyber-threats/
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Providence St. Joseph Health SWOT and PESTLE analysis has been conducted by Amit Kabi and reviewed by senior analysts from Barakaat Consulting.
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