Essay Example on The 5 P’s of Healthcare Marketing

This article is an essay on the 5 P’s of healthcare marketing. Study it to learn how to write healthcare essays and gain insights into how you can get expert essay writing help.

Essay Example on The 5 P’s of Healthcare Marketing

The Assignment

Instructions:

  • (In this unit, you will become the investigator of three (3) healthcare systems and predict which one has the most promising marketing potential.
  • By the end of this unit, you will be able to proficiently discuss
  • How the 5 P’s of marketing and research-supported assessment
  • Strategies impact the marketing potential of a healthcare system
  • Select and provide a general overview of three (3) healthcare organizations that interest you*(I want you to choose these 3 healthcare of Austin texas: St. David healthcare, seton hospital, and Austin regional clinic)
  • Discuss the 5 P’s of healthcare marketing to each healthcare organization (this can be general or specific).
  • Elaborate how the 5 P’s of healthcare marketing may impact the marketing potential of a healthcare organization.
  • Using an assessment or evaluation strategy, discuss the marketing potential of each and predict which one has the most promising marketing potential.
  • Be sure to support your assertions with evidence-based research, scholarly articles, and well-supported strategies that support your predictions.
  • 3-4 page paper excluding front and back matter (APA standards apply).
  • Internal organizational memorandum.
  • Infographic
  • PowerPoint presentation for a Board of Directors (10-12 slides; speaker notes as needed to support assertions).
  • 7-10 minute public service announcement (using a free online voice recorder such as vocaroo.com)
  • Video newscast (using a free online video recorder such as YouTube.com) (e.g. entertainment talk shows, television commentary, interview-style, news reporting, etc.).
  • The use of first-person is permitted for this assignment (excluding option 1). APA formatting (e.g. title page, conclusion, reference page, etc.) should not be used.
  • Although the use of APA formatting is not required for this assignment, proper grammar, spelling, and punctuation are expected.
  • *Hint: Try locating healthcare systems that you are familiar with, would like to network with, have heard concerns about, or ones that are completely unfamiliar to you.

Essay Example on The 5 P’s of Healthcare Marketing

The Essay Solution

Introduction

The health care industry is one of the most sensitive in the world. 5p’s are often considered as the fundamental components that allow the sector to exist. Patients are the primary service seekers, followed by doctors who offer treatment to the patients, administrators, payers, and policymakers. It is difficult to have a stable health industry without the aforementioned components. With three healthcare institutions as examples, this article will cover the 5P’s of healthcare marketing.

Over 28 assisted living institutions have been identified in the United States, with a combined capacity of over one million patients. Excellence Senior Living in Orlando is an excellent example of such a facility. These institutions are responsible for patients aged 83 to three years. The majority of these individuals have decreased productivity as well as various health issues as a result of aging. These assisted living institutions in the United States provide treatment to both male and female patients.

Excellence Senior Living in Orlando

The care staff at Excellence Senior Living in Orlando are properly educated to offer patient-centered care while taking into account the cultural variety of all patients (Excellence Senior Living, 2017). The care offered is technologically capable of providing acceptable medical services, including medical management. At the facility, the responsibility of the healthcare administrator is to give leadership as well as to assist with administrative duties. The majority of the services provided by the institution are covered by insurance. Excellence Senior Living follows the principles published by the National Center for Assisted Living when it comes to assisted living policy development (NCAL).

George Mark Children’s House

Another crucial institution to consider is a hospice, with George Mark Children’s House acting as an excellent example (George Mark Children’s House, 2017). Hospice care is defined as end-of-life care for patients who are diagnosed with a terminal disease. It’s worth noting that George Mark Children’s House is exclusively for children. The services provided by the care providers also include assistance for the patient’s parents, guardians, and family members. The clinic is well-equipped with pediatric experts who are capable of dealing with the youngsters that are brought in.

In the United States, health insurance companies have traditionally included a package that includes hospice care. These policies are available to people of any age who have been diagnosed with a terminal illness. In terms of policy development and implementation, hospice care institutions must follow the policies issued by the National Hospice and Palliative Care Organization. Similarly, the duty of the facility’s healthcare administrator is to give leadership while also facilitating administrative operations.

Waterman Village Retirement Community

Another aspect of health care is home health, where the services provided by Waterman Village Retirement Community serve as an ideal example (2017). The non-profit organization was founded to offer in-home care for people. The elderly make up the majority of the patients who get these treatments. The Community Health Accreditation Program, which is also a policy-making organization, has accredited this facility. Long-term care insurance may assist in paying the fees at Waterman Village, according to reports. At the facility, the responsibility of the healthcare administrator is to give leadership as well as to assist with administrative duties.

The 5p’s may impact the marketing potential of the individual health organizations, as seen in the three cases above. For example, Excellence Senior Living may advertise itself based on the greatest patient outcomes, the finest experts in care delivery, and the best payment alternatives for patients. George Mark Children’s House also promotes its ability to care for patients via its facilities, professional personnel, and professional services, including billing. The Waterman Village Retirement Community is in the same boat.

Conclusion

All of the marketing data for the companies in question comes from 4 of the 5 P’s. This is because a single corporation may not have the authority to establish policies at the policy level. In each of these sectors, a bigger entity recognized by the federal government or the state government formulates rules that these institutions must obey.

For example, all of these businesses must follow any policy established by the National Health Council. The quality and scope of services offered by these businesses should be consistent with the rules in place. As a result, each of these businesses has the opportunity to sell their services based on the high-quality services they offer to customers, the large number of expert caregivers at their disposal, convenient payment alternatives for medical bills, and a responsive administration.

It’s vital to note that the health institutions in question are non-profit, therefore their marketing strategy differs somewhat from that of for-profit businesses. As a result, it’s reasonable to argue that clinics that accept insurance as payment for bills attract more patients. Furthermore, facilities that give the highest quality professional services automatically attract more customers. Finally, customers trust institutions that adhere to established health-related rules.

Essay Example on The 5 P’s of Healthcare Marketing

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Frequently Asked Questions (FAQs)

Healthcare Marketing
The 5 P’s

1. What are the 5 P’s of healthcare marketing?

Product, Place, Process, Price, and Promotion

2. What is the role of healthcare marketing?

Healthcare marketing enables you to expand your patient relationships and nurture them into long-term, committed patients. Successful healthcare marketing leads to successful patient engagement, which in turn leads to a thriving practice.

3. What are major market factors in healthcare?

  • Technology.
  • Prices for healthcare products and services.
  • Market dominance.
  • Coverage under health insurance.
  • Patient demographics and characteristics

Read More On…

References

  • Excellence Senior Living. (2017). Retrieved from http://www.excellenceseniorliving.com/programs/
  • George Mark Children’s House. (2017). Retrieved from http://georgemark.org/about-us/how-we-help children/#eol-care
  • Waterman Village Retirement Community. (2017). Retrieved from http://www.watermanvillage.com/home-care

Essay Example on The 5 P’s of Healthcare Marketing

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