Pricing
To determine the optimal prices for the UriCap products, the team used competitive pricing, both indirect and direct, custom willingness –to-pay, cost plus pricing based on distribution channel partner needs, and economic value analysis. Direct competitor pricing, which was only applicable to the UriCap-M product, was determine through secondary research. On the other hand, primary research was used to determine indirect competitor, or substitute, pricing. A combination of primary research and secondary research was used during economic value analysis while customer willingness-to-pay (WTP) was determined through an online survey.
Willingness-to-Pay
To better understand customer’s willingness-to-pay, a survey was developed and given to hospital and nursing home professionals who had some knowledge of the cost of care. Since most care givers are removed from the financial side of the business, it proved rather difficult to find participants willing to take the survey. With that said, ten professionals completed the survey which, along with the results, can be seen in their entirety in the Appendix and provided spreadsheet.
The survey contained two sets of questions. The first set was designed to gain and understand of what the customers thought they were currently paying for urinary incontinence care. This included the actual cost of diaper and catheters, as well as secondary costs such as the cost of nurse/care giver time and the cost of infection/bedsore
This reflection case study will be discussing urinary continence management using Gibbs reflective framework (Gibbs,1988). This will include what is urinary incontinence management, the pathophysiology of urinary incontinence after stroke, how continence affect patient and current clinical practice and the role of the nurse and multi-disciplinary team within continence management. Also using the evidence based research and national guidelines.
In my placement area I came across many residents using incontinence pads, urinary catheters and incontinence sheaths. I understood that, incontinence was a major problem among the elderly and it made me select
Determine and discuss a pricing strategy (penetration or skimming). Determine and discuss pricing tactics (product line pricing, value pricing, differential pricing, or competing against private brands) to be used for your product. Identify any legal and ethical issues related to the pricing tactics. Prepare a marketing distribution channel analysis identifying the wholesaler, distributor, and retailer relationships. Discuss how the distribution strategy fits the product/service, target market, and overall marketing objectives for the company.
Presented by BMJ Quality and Safety, Meddings et al (2013) sought to review interventions to reduce unnecessary catheter usage and prevent catheter-associated urinary tract infections. The review panel consisted of six individuals all listed as authors on this integrative review who utilized two
Hooton, T., Bradley, S., Cardenas, D., Colgan, R., Geerlings, S., Rice, J., Nicolle, L. (2010).
Obtaining reimbursement for services provided is a necessity for the survival of many health care organizations. This paper will explain, in my opinion, why the Centers for Medicare and Medicaid Services (CMS) are involved in this development and how it affects the American public. I will offer a suggestion to ensure meeting policy and procedure. I will finish by discussing three ideas listed on the CMS website.
All segments are critical for the implementation of our company’s strategy because we chose to be broad cost leaders. Cost leaders maintain a presence in all market segments by focusing on low production costs and competitive pricing. With that in mind, one segment is considered to be slightly more important than the others: the low end segment. We will compete in every market segment, but this is one of the most important due to the fact that price is the main consideration of the buying criteria at 53% importance. Our costs will be much lower than our competitors which translates into a lower market price for this product, which is ideal for our customers.
Pricing is a pertinent issue in procurement and acquisition in organizations. Consumers buying the commodities of an entity should get clarity on pricing related issues. There is uncertainty in Pro
Contributing factors to the problem could be lack of education and training in caring for patients with urinary catheters, poor time management to properly care for patients with urinary catheters, and a lack of evidence-based bundled intervention. An example of an inappropriate reason would be keeping a urinary catheter device for convenience due to the incontinence of the patient.
The services will be provided to the clients in the Chicago's northwest suburban community. The main target group would be people who are 18 and older with one or more urinary related issues; including age and postpartum incontinence. The Urinary Continence and Wellness Clinic Services will adopt an approach to service that embraces a philosophy of respect for, and partnership with, people receiving services. A client centered urinary continence service
When trying to determine the correct price, a number of factors must be considered: the market and its segments, the size of each segment, the ability to reach each segment, what distribution channels to target, whether to vary price by segment, the usefulness of promotional offerings, and whether the goal is to skim or penetrate each market.
For many people, getting older can be difficult because of fear. They worry about what could happen to them or what type of diseases they might develop later on. To become a more mature adult is a stage of life that each individual will experience in a certain point. Statistics shows that eighty-eight percent of those of sixty-five years of age and older have at least one chronic health condition such as diabetes, dementia, Parkinson’s disease or cancer. (ezinearticles.com). This scholarly essay will focus mainly on urinary incontinence (UI) which is a common health problem that elderly may have.
Review the main points of this article and decide what is most important to you as it relates to customer retention and industry competition. Be sure to contact an experienced business consultant or your attorney to draft a legally binding non-compete agreement specific to your business needs. Register for our Senior Care Business Workshop and learn more about securing your home care, hospice and personal care home
XYZ healthcare organization aims to provide continuum long term care services to patients. This, they aim to do with the utmost dignity, respect, individuality and confidentiality. This cannot be realized without a positive work environment where the staffs are able to deliver good medicine to the patients. For the staffs to feel good about where they work, what they do, and how they do it, they need motivation. One of the principle motivators for the staff is the recognition of money as a critical motivator. This is in line with the provision of long-term care services (Evashwick, 2005). Finally, it is the staff that will play a tremendously huge role in realizing that the long-term care services are actually provided.
As is known, pricing is one of the most important steps for business plan which needs good research, calculations and formulations. There are different pricing strategies to put into effect due to the market and product conditions, such as premium pricing, penetration pricing, economy pricing, price skimming(Voice Marketing, 2012). These four pricing strategies are main pricing policies. They form the bases for the exercise. However there are other important approaches to pricing. These pricing strategies are: Psychological pricing, product line