The Healthcare Industry

1578 Words7 Pages
When observing the healthcare industry, the need for enduring education in internal functions has been recognized. Equally important to success in the healthcare industry are external functions such as marketing. However, some suggest that pricing strategy, product strategy, and division and targeting were the tasks that require the most knowledge for healthcare marketers, and that they do observe numerous breaches in many areas examined (Kennett et al., 2005). Easier access to medical information on the Internet means your healthcare business must do more than just provide services or products towards health issues. There must be a need to employ a diversity of marketing techniques to help approaching patients understand new health care ideas and solutions (Wagner, 2015).
Hospitals and the healthcare systems are facing more pressure than ever to establish essential skills needed to thrive in a changing healthcare market. Trying to stop the infrastructure momentum toward value-based payment models can become difficult once you engage investors in new ways of working. Providers are recognizing the rationality of value-based care delivery and commercial payers continue to provide much of the market drive, and they are shifting towards value-based payment models (Mosquera, 2014).
Among the biggest challenges that healthcare executives are confronted with are:
• Pacing the shift to value-based models.
• Responding effectively to the economic dynamics of local markets.
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