This report discusses a few different topics. The first topic that is discussed is what a portfolio analysis is. Next it will give a brief background of Truman Medical Center in Kansas City, Mo. Third it will describe nine products and services that the given health care organization, Truman Medical Center offers and group them in to four categories. The four categories are cash cows, stars, problem children, and dogs. What is a Portfolio Analysis-?
A portfolio analysis examines the market position of a health care organization in terms of the organizations rate of service category growth and market share. This type of analysis examines different investment portfolios in order to evaluate their performance against goals (Spowart, M., 2012). There are five very significant steps included in conducting a portfolio analysis of the service lines in a health care organization. These steps, in order, are: 1) defining the service lines; 2) identifying the weighting of the service line evaluation criteria; 3) developing the information that is to be used in scoring; 4) scoring the service lines against the criteria used in evaluation; and 5) discussing the results and making the service line decisions (Machisko & DeBoer, 2008). Step one sets the foundation for the portfolio analysis and step two focuses on defining which characteristics are the most crucial to the health care organization. Examples of characteristics used in this step might include financial performance, market competition and potential growth, physician availability, and technology advances. Steps three and four are the two easiest steps in the process. Step five is the step that brings the portfolio analysis together. In other words, it is the finishing touches on the analysis. Background of Truman Medical Center-
Truman Medical Center, formerly known as General Hospital, is one of Kansas City’s major hospitals and the only hospital in downtown Kansas City, Mo. It was first built in 1870 and was rebuilt into two racially segregated facilities in the 1920s (trumed.org, 2012). In 1957 the once segregated hospitals were joined together. This facility would soon become a teaching hospital for the University of Missouri-Kansas City Medical School. In 1976 the medical school and hospital were dedicated (trumed.org, 2012). Some of the services that Truman Medical Center is well known for include: trauma and emergency medicine; asthma; diabetes; GI services; obstetrics; ophthalmology; and women’s health. Today, Truman offers many services. Some Services include an asthma center, birthplace, cardiovascular center, diabetes center, emergency care, eye clinic, GI gastrointestinal, and infectious disease clinic. More services include oncology, orthopedics, radiology services, rehabilitation services, sickle cell disease center, sleep center, trauma services, weight management services, and women’s health services. Below are the descriptions of nine services and what category they can be placed in. Emergency & Trauma Services (Service # 1)-
Truman Medical Center has a 52-bed, level one trauma center. Their medical professionals are specifically trained in treating critical care and trauma injuries (trumed.org, 2012). Their trauma team consists of emergency physicians; trauma surgeons; personnel from radiology and other critical departments; and trauma trained nurses. Truman keeps physicians with specialties in neurosurgery to physicians with specialties in gynecology waiting on standby as well as prepared nurses in the operating room and critical care unit (trumed.org, 2012). Truman Medical Center’s emergency and trauma services can be classified as a cash cow. Radiology Services (Service # 2)-
Truman Medical Center’s radiology department is well known for providing their patients with comprehensive, high quality, and compassionate care. The radiology department operates 24 hours a day, 7 days a week. Some of the specific...