SWOT Analysis Philips Healthcare

SWOT Analysis

Philips Healthcare

Faith Tyler

History of Philips

X-ray tube

1920

Largest

Producer

Radios

1930s

1891

light bulb

filaments

Brand Position

electric shavers

audio cassettes

VCRs

CDs

DVDs

Blu-Ray

1927

Medical

Equipment

Lab

Weaknesses

1940s

TV

MRI

Ultrasound

1990s

The Philips brand position is centered on their products.

"Sense and Simplicity"

1950s - 1980s

2006

3D scanning

•Commitment too many lines of product spread the company’s resources to thin and some products and service quality suffer.

Philips Vision

Philips Mission

"Improving people's lives through meaningful innovation."

"At Philips, we strive to make the world healthier and more sustainable through innovation. Our goal is to improve the lives of 3 billion people by year 2025. We will be the best place to work for people who share our passion. Together we will deliver superior value for our customers and shareholders"

Strengths

•Strong brand recognition

•Forerunners in medical technology – CT, MRI and ultrasound

•Expertise –recruitment, education and growth

•Financially stable – 14.3 billion dollars in sales in 2011.

•Innovation – 8% of sales goes back into research and development

•Location – Operations in 60 countries with sales in over 100 countries

•Staying current – sustainability in the environment and in healthcare

•Diverse products - Diagnostic Imaging Systems; Patient Care and Clinical Informatics; Customer Services; and Home Healthcare.

•Offering refurbished medical equipment to reduce financial strain on healthcare organizations.

SWOT Analysis

Philips Healthcare

Philips Healthcare Products

Opportunities

Threats

Sample Cost Comparison for 3D ultrasound:

Thank You

• $150,000 (Philips)
• $192,825 (GE)
• $65,520 (refurbished Siemens)

Competition

Environmental & Market Factors

Target Market

Internal Capabilities

•Developing products for healthcare organizations that emphasize prevention through patient education

•Electronic Medical Record development

GE Healthcare

• Similar products and market
• Offers EMR
• Venture with Microsoft

Siemens

• Similar but fewer products
• Similar market
• Laboratory products
• No EMR

Mission, Vision and Brand theme - Innovations that improve people's lives.

• Reinvestment in research and development (8%)
• Recruitment and retention
• Promotion of employee education and growth

• Hospitals
• Outpatient Testing Facilities
• Home Health Agencies
• Physician Offices

• Changes in healthcare delivery
• Rising cost of healthcare
• Burden of Baby Boomers
• Healthcare Reform

• Philips Healthcare responds
• Offering refurbished equipment
• Innovations to streamline quality diagnosis and treatment
• Opportunity to expand prevention products and programs

• CT
• Diagnostic ECG
• Emergency Care and Resuscitation
• Fluoroscopy
• Clinical Software
• X-ray
• MRI
• Patient Monitoring
• Nuclear Medicine
• Radiation Oncology
• Radiography
• Respiratory Care
• Medical Supplies/Consumables
• Ultrasound
• Mammography

•Rising cost of healthcare makes organizations more hesitant to buy expensive equipment

•Government sees medical equipment and supplies as potential drivers for healthcare costs and places a cap on the prices of these items

•Healthcare Reform is so successful that future generations of healthy Americans rely less on healthcare and therefore Philips Healthcare products.

•Significant innovative competition from GE Healthcare and Siemens

Faith Tyler