Throughout this course, you will analyze the Case Study: East Chestnut Regional Health System (ECRHS).
Review the Case Study document.
Assume East Chestnut Regional Health upper management has asked you to analyze its current marketing strategies from both ethical and financial perspectives.
Use the Case Study Review Guide as a tool to help you complete your analysis.
Create a 1,050-word Financial and Ethical Impact Analysis for ECRHS’s current health care marketing strategy for upper management, based on the above factors.
Include a summary of each section in your analysis:
- Mission and objectives
- Organizational structure and culture
- Current marketing strategies
- Current financial analysis
- Competitive advantage
- Current value chain
- Current target market
- External environmental factors
Expert Solution Preview
In this assignment, you have been asked to conduct a Financial and Ethical Impact Analysis of the East Chestnut Regional Health System’s current marketing strategies from both ethical and financial perspectives. This analysis must be 1,050 words long and should include a summary of each section, such as mission and objectives, organizational structure and culture, current marketing strategies, current financial analysis, competitive advantage, current value chain, current target market, and external environmental factors.
To begin the Financial and Ethical Impact Analysis for ECRHS’s current healthcare marketing strategy, we must first analyze the organization’s mission and objectives. ECRHS’s mission is to provide high-quality patient care and services to the community it serves. The organization’s objectives include providing access to care, offering exceptional patient experiences, and delivering the latest technology in healthcare.
The organizational structure and culture play a significant role in shaping ECRHS’s marketing strategies. The organization’s structure is a typical hierarchical structure with an executive team overseeing operations. The culture of ECRHS promotes ethical behavior, teamwork, patient care, and community outreach. The marketing strategies must align with these values and goals.
ECRHS’s current marketing strategy focuses on traditional advertising methods, such as billboards, television commercials, and print advertising. The organization should strive to become more competitive by implementing digital marketing strategies, such as social media advertising, email marketing, and search engine optimization. These strategies will offer ECRHS the opportunity to reach a wider audience and increase revenue.
The current financial analysis for ECRHS indicates that the organization’s revenue is not meeting its projections. The organization must consider implementing new strategies such as value-based pricing, which charges patients based on the value they receive from the care provided. This pricing approach will reward ECRHS for delivering high-quality patient care, thereby increasing revenue.
ECRHS has a competitive advantage in its community outreach programs and access to cutting-edge technology. The organization should focus on promoting these aspects of its services through its marketing strategies to differentiate itself from competitors.
The current value chain analysis for ECRHS demonstrates that the organization is failing to maximize its value chain. Implementing telemedicine and telehealth services can offer ECRHS the opportunity to increase patient access and revenue while also reducing costs.
ECRHS’s current target market is the elderly population. The organization must consider expanding its marketing efforts to target younger generations while still delivering quality care to its current patients.
External environmental factors, such as healthcare regulations and government policies, can impact ECRHS’s financial and ethical performance. The organization must stay aware of these factors and adjust its marketing strategies accordingly.
Overall, ECRHS must implement digital marketing strategies, value-based pricing, and telemedicine to increase revenue and optimize its value chain. While doing so, the organization must remain committed to its mission and values of ethical behavior, patient care, and community outreach.