The first step in choosing a product or service is to decide what type of health care organization you would be interested in marketing for.
There are many types of HCOs-nursing homes, assisted living facilities, hospitals, clinics, community health centers, acute care hospitals, home health agencies, managed care organizations, etc.
Once you have chosen the type of HCO you will market for, then comes the decision of whether you want to market a new product or service.
Try to make the product or service as original as possible.
The outline for the business plan is located in the syllabus
More information is in the textbook on pages 452-479.
About the Executive Summary:
a summary of the planning issue , which includes a new product, new service opportunity, or process improvement issue.
A future –oriented, two page document demonstrating knowledge of the issue and provides the prospective value
What to include in the Executive Summary:
An introduction to your business plan which involves a discussion of the new service opportunity, cost saving measure, or process improvement.
Marketing Highlights:
Make a list of the distinctive features by answering these questions:
a. What is the real value regardless of the type of project?
b. What will the product/service save the organization in dollars? (estimated guess, doesn’t have to be accurate)
Ex: What savings or profits will it generate by improving efficiency? Or what saving or profits will it generate by developing a new
Targeting Market Summary: Answer the following questions:
Who is your target market?
Who benefits from this plan?
Is the market internal, external, or both?
Competitive Analysis (if a new service opportunity)
Who else is doing it?
Provide a competitive analysis
Key Marketing Strategies-See Chapter 2
What key marketing strategies will you use?
How will you get compliance of patients, staff, the board, or referral services?
Operational Highlights
Are there any critical legal or regulatory constraints?-See Chapter 3
Intermediary Concerns or Issues
Are there any noteworthy issues with referrals or other entities?
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