Healthcare for the Aged
Health care for the aged has been an outstanding issue for both the government and private individuals. Initially, it was the responsibility of family members to provide care for their seniors. With increased numbers and life responsibility, the need for a standard place arose to serve the members. The concern for the best care for the aged citizens mainly in Australia and its environs has been a challenge since time immemorial. Estia health aged care is an Australian facility that has served the aged families since 2005 (Estia Health 2018). It is known for the highly experienced management and personnel who are dedicated to creating happiness and a better environment for the aged and those related to them. Today, Estia is the most significant health residential healthcare providers. The paper discusses residential aged care business with macro-environment analysis and the aged care industry in Australia.
Macro Environments
Macro environments are the factors and conditions that are comprised of the organisations social, political, and economic composition as a whole. Victoria, commonly known as Estia, has 68 facilities, 6000 operating places with more than 7000 employees across Victoria, South Australia, New South Wales, and Queensland (Estia Health 2018). The purpose of the business is to provide a one family fit for everyone who is aged or approaching the ageing generation. The organisation has maintained a record of high competence in the market because of its great team of personnel, able investors, and active market in Australia.
Friendly Services
Despite the competition, Estia has grown and provided more solutions to its customers. First, the friendly services create a welcoming experience for the new and existing clients. The customer care offers an interactive environment for the aged making them feel at home. The relations are familiarised manner in which the clients feel at home.
Lifestyle and Wellbeing
Second, the lifestyle and wellbeing at Victoria health care is another wonderful package. With the aged, the secret is comfortability and enjoyment. Estia strives at nothing less than providing the most suitable environment for its clients for rest and refreshment activities.
Nutritious Experience
Third, is the nutritious experience. The diet and food values offered by the organization helps balance the metabolism of the clients. Best menus with special diets for the allergic and related groups.
Quality Clinical Healthcare
Fourth, is the quality clinical healthcare. Regular time-to-time check-up services and routines are provided for the clients. Aged care industry demands special intensive treatments, and with qualified personnel at Estia homes, all patients are well-taken care.
Value for Money and Time
Last, value for money and time. The great experience offered by the organization makes the customers' time most valued (Estia Health 2018). The nursing personnel provide the best healthcare services to clients in all the centres. Services offered are pocket friends affordable to all schemes and plans.
Porter's 5-forces Model
In order to best interpret the macro environment analysis of the Estia aged care, the Porter’s 5-forces model is to be used. The five forces of competition are the tools for assessing and evaluating the performance of an organization to determine the strength and position over a given period. Porter's competition theory tends to assess the profitability of a given product, the future expectation of the product so that the organization may predict the position and the direction organization may assume (Gartenstein, 2018, 1). Therefore, identifying where power lies in the organization through strategic analysis. The five forces include the supplier power, buyer power, competitive rivalry, a threat of submission, and a threat of new entry (Gartenstein, 2018, 1).
Supplier Power
First, supplier power is the approach of study to determine the power of suppliers to drive prices down. Suppliers per product or service, the uniqueness of the product, the size and ability of the supplier, and the cost of transfer from one supplier to another influence it (Kyriaki, 2011, 3). For the hospitality and care industry, suppliers provide materials for use such as medicine drugs, foods and stuff, and services like employees.
Buyer's Power
Second, there is the buyer’s power. Unlike supplier power, it assesses the flexibility on how easy can buyers make the prices low. The number of buyers available in the market, the significance of every single buyer to the business, and the charge of buyers switching from one organization to another (Kyriaki, 2011, 3). Strong influential buyers can dictate the terms of trade because of their will in the organization.
Competitive Rivalry
Third, competitive rivalry, where the significant primary driver is the number of and the willpower of influence of the competitors in the market share. Competitors and subsidiary product and services businesses may reduce the market attractiveness due to low quality. There is a need for trademark and establishments to escape the lousy name from imitations and counter fake providers. New firms have been set up to take the market share of the industries that are proving to be a threat in competition (Kyriaki, 2011, 3).
Threat of Substitution
Fourth, a threat of substitution where closely related products are in capability to substitute one another, it increases the likelihood of customers switching from one brand to alternative products and services. The primary factor for the switching is the price increase of the product and the availability of related products in the market. As per the case with Victoria’s aged care, other brands providing almost similar services have emerged (Kyriaki, 2011, 3). Estia stays up with quality services to cope with the market trend.
Threat of New Entry
Last, a threat of new entry, which profitable and good ventures call for new attractions. The newly attracted erodes profitability since they also want a share of what the market has to offer (Kyriaki, 2011, 3). The business has to create healthy and durable barriers to eliminate and discourage new entries in the industry. Such restrictions may include starting policies, economies of scale, and legal government policies.
Conclusion
The Porter's five forces analysis assists organizations in understanding the factors the value of yields in a given industry. The analysis enables the management to judge and make decisions as to whether to join a particular industry, whether to expand the organization externally, and to strategize in competitive survival (Christopher et al., 2014, 4).
Management conducts research using analytical tools such as Porter's five forces to arrive at decisions and conclusions. Estia has intensively utilized the analysis from the five forces to stay alive and active despite the competition from the industry. That is why the organization is proud of the provision of excellent quality services to clients, affordable, friendly prices, customer relations, and assurance value for money. The patients and customers enjoy their stay at the business because of a family like an environment.
List of
References
Devra, G, 2018. "How to Write a Strategic Analysis for Business Organizations." Small Business - Chron.com, http://smallbusiness.chron.com/write-strategic-analysis-business- organizations-89.html.
Estia Health 2018 http://www.estiahealth.com.au/
Masinde C , Mwangi S , Nyamboga, E, Miroga, J, Enock, G, 2014. The Application of Porter’s Five Forces Model on Organization Performance: A Case of Cooperative Bank of Kenya Ltd Vol.6, No.16,
Sotiriadou, K, 2011. PEST and SWOT Analyses of the “Home Care” Program in Greece. Associate Professor of Health Economics, Department of Economics, Aristotelian University of Thessaloniki
