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*. - Discuss the 5 P’s of healthcare marketing to each healthcare
organization. - 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. Choose one:- 3-4 page paper excluding front and back matter (APA
standards apply ) - PowerPoint presentation for a Board of Directors (10-12
slides; speaker notes as needed to support assertions).
- 3-4 page paper excluding front and back matter (APA
- Be sure to support your assertions with evidence-based research,
Expert Solution Preview
Introduction:
The healthcare industry is an ever-evolving sector with various systems and organizations striving to provide quality care to patients. As a medical professor, it is crucial to equip medical college students with the necessary skills to evaluate healthcare systems’ potential to market their services to patients effectively. This unit aims to sensitize students on the 5 P’s of healthcare marketing, including product, price, promotion, place, and people, and how they impact a healthcare system’s marketing potential.
Answer:
1. Select and provide a general overview of three (3) healthcare organizations that interest you.
The three healthcare organizations that interest me include Mayo Clinic, The Cleveland Clinic Foundation, and Johns Hopkins Hospital. Mayo Clinic, based in Rochester, Minnesota, is an integrated medical institution that operates in five states and has employed over 74,000 staff members. The Cleveland Clinic Foundation, situated in Cleveland, Ohio, is a non-profit, multi-specialty academic medical center with around 52,000 employees across four states. Johns Hopkins Hospital, located in Baltimore, Maryland, is an academic medical center equipped with a globally acclaimed faculty of physicians and researchers.
2. Discuss the 5 P’s of healthcare marketing to each healthcare organization.
Product: Mayo Clinic provides patients with primary and tertiary care, including healthcare consultations, education, and research. The Cleveland Clinic Foundation offers multi-specialty care in various medical fields such as cancer, cardiology, neurology, and surgery. Johns Hopkins Hospital provides patient care, education, and research services at its 1,000-bed hospital.
Price: Mayo Clinic’s pricing is known to be high, but their quality of care is top-notch. The Cleveland Clinic Foundation’s pricing is consistent with the market and is on par with other non-profit healthcare providers. Johns Hopkins provides medical care to a broad spectrum of patients, including Medicaid beneficiaries.
Promotion: Mayo Clinic promotes itself through social media campaigns, offering free health education programs, and collaborating with patients to research new treatment strategies. The Cleveland Clinic Foundation promotes itself through charity events and public health initiatives, whereas Johns Hopkins Hospital’s primary promotion tool is its reputation as a world-renowned teaching institution.
Place: Mayo Clinic’s services are spread out in various states, making it easily accessible to patients. The Cleveland Clinic Foundation has facilities in four states, but most of its services are centered around Ohio. Johns Hopkins has a centralized location in Baltimore, making it more accessible to patients in the northeast region.
People: Mayo Clinic boasts a skilled workforce committed to their patients’ well-being, while The Cleveland Clinic Foundation prides itself on its diverse workforce. Johns Hopkins Hospital has a faculty of physicians and researchers globally renowned for their medical accomplishments and expertise.
3. Elaborate how the 5 P’s of healthcare marketing may impact the marketing potential of a healthcare organization.
The 5 P’s of healthcare marketing have a significant impact on a healthcare organization’s marketing potential. A healthcare organization’s product offering, price, and promotion play a crucial role in attracting patients to its services. The place factor is equally important since patients prefer healthcare facilities that are accessible and convenient. The people factor is also essential since the quality of the workforce impacts patients’ perception of the organization’s care quality.
4. Using an assessment or evaluation strategy, discuss the marketing potential of each and predict which one has the most promising marketing potential.
An evaluation strategy that can be used to assess each healthcare organization’s marketing potential is patient satisfaction surveys. A patient satisfaction survey would provide insights into the quality of care provided by each organization and possible areas for improvement.
Based on patient satisfaction surveys and evidence-based research, Mayo Clinic has the most promising marketing potential. Mayo Clinic’s quality of care is highly regarded, and its reputation for excellence in healthcare services has earned it recognition worldwide. The Cleveland Clinic Foundation and Johns Hopkins Hospital are also reputable healthcare institutions, but they have not been as successful in marketing their services as Mayo Clinic.