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Pocahontas Rural Satellite Hospital Market Analysis

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Market Analysis for Pocahontas Memorial Hospital Rural Satellite Clinic
For health care centers to remain competitive, it is important for them to conduct comprehensive market analysis of their external environments to properly understand important issues affecting their health care marketplace (Ginter, Swayne, & Duncan, 2012). An effective market analysis consists of the following elements: industry overview, target customers, market segmentation, competition and market needs, growth, and trends (CSU-Global, 2015). This paper discusses the components of a valuable market analysis and strategic thinking map for Pocahontas Memorial Hospital’s (PMH) that will help its’ leaders when making strategic marketing decisions for their proposed …show more content…

Census Bureau, 2010). Many of PMH’s consumer population live below the poverty line with a median income of $26,401 (U.S. Census Bureau, 2010). In fact, many of PMH’s low-income patients are extremely poor, living 200% below the poverty line (PMH, n.d.). Thus, affording health care services and finding transportation to health care centers are both major concerns for many of PMH’s consumers (PMH, n.d.). Moreover, PMH’s competitors in surrounding areas (Bath Community Hospital and Webster County Memorial Hospital) provide similar health services to what PMH currently is providing. Thus, it is imperative for PMH’s leaders to implement innovative action plans and technologies to keep PMH ahead of the competition. Nevertheless, a competitive advantage PMH possess is they have built strong relationships within the community by supplying many outreach programs like annual health fairs, diabetes support groups, and smoking cessation classes (PMH, n.d.). Consequently, during strategic planning processes, it is paramount for PMH’s leaders to keep industry overview, target population, and competitive factors in mind to develop strategic alternatives that will assist them in implementing their rural satellite …show more content…

According to the results of the market analysis, PMH’s leaders should focus their attention on providing comprehensive preventive and chronic disease management services to their potential satellite clinic’s consumers to increase Pocahontas County’s public health outcomes. Furthermore, since a large portion of PMH’s consumers live in poverty, it is important for PMH to facilitate methods to help their patient sign up for health insurance under the PPACA. In addition PMH’s human resource professionals must put effective recruiting processes in place to attract and retain qualified health care providers to properly staff their new clinic. Lastly, PMH’s leaders must focus on implementing innovative methods and technologies in the satellite clinic that will entice new patients and health care providers to their new outlying location and increase their long-term viability by providing quality services at lower

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