Competition in Healthcare

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Gloves On: The Presence of Competition in the Healthcare Industry Gina Ruggiero HCA 421 Instructor Celya Tilley August 23, 2013 The driving force of any business is that of competition; the healthcare industry is no different. The presence of competition provides a need to grow and continually offer quality services or products; however, the competition in the healthcare industry can be a very daunting at times. The cost of medical care is rising and patients are expecting a certain level of high-quality care due to the vast amount of information available to them. Patients are now armed with knowledge; they are true consumers who look for the best quality care for the very best price. This paper will discuss the…show more content…
Another form of competition that takes places exists between hospitals and hospital groups. Hospitals compete for physicians and other health care professionals, third-party payers and patients. Hospitals often compete for patients by providing more services, better amenities or discounted prices (Rivers & Glover, 2008, pp.634). This exists both locally and globally and this competition is only getting stronger given the advanced research and technology that is now available. In healthcare, the reality remains that the hospitals want to have the best technology and newest medical discoveries in order to recruit the best healthcare providers and personnel. The final form of competition takes place between organizations that provide health care financing and insurance and health care plans such as HMO’s and PPO’s. “Buyers of insurance plans must be knowledgeable about the varying prices and must be able to make an informed choice when deciding on what plans to buy (Rivers & Glover, 2008, pp.634-35).” Health plans can be confusing and loaded with an over-abundant amount of information. Furthermore, it can be difficult and daunting for a patient to compare the different plans available to them in that there are varying degrees of freedoms in different categories of the
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