Download Sooriya - Healthcare Marketing

Healthcare Marketing & Ethics
MARKETING
Definition of Marketing
‘Marketing is the management process that
identifies, anticipates and satisfies customer
requirements profitably’
The Chartered Institute of Marketing
Hospital Marketing Connects
•Patients
•Physicians and
•Providers
Four Ethical
Principles of
Healthcare
Marketing
Four Ethical Principles of Healthcare
Marketing
Put Patient's Welfare First
Patients must come before profits. Patients have the
right to expect care of the highest standard of quality
consistent with technological and physical limitations
We accept the principle that a patient will receive all
necessary care regardless of their ability to pay
Four Ethical Principles of Healthcare
Marketing
Avoid unnecessary services
Marketing should not induce a patient to accept excessive,
unneeded, or nomadically indicated healthcare services,
regardless of cost, risk, or source of payment. It is unethical to
build demand for unneeded services.
Four Ethical Principles of Healthcare
Marketing
Maintain high standards of honesty and accuracy
Healthcare marketers must do more than merely avoid false or
misleading advertising. While marketing legitimately seeks to
influence behavior, marketers have an obligation to provide
fair and accurate information when they promote their services
.
Four Ethical Principles of Healthcare
Marketing
Be accountable to the public
Marketers should develop marketing plans believing
that these plans will likely be revealed to the public in
the future. Marketing professionals should avoid
activities that they would not want their families to read
about in the newspaper
my 7 year old son wants this Chocolate
Product Vs Service
While Products that can be seen, felt, touched and tasted are
tangible, Service as a product is based on post-sale experience and
is intangible
Consumers can come up with desirable parameters for a tangible
product in terms of productivity, efficiency, etc. whereas, it is very
difficult to rate an intangible product like “SERVICE”
Healthcare Marketing
Healthcare marketing and advertising is complex,
confusing and daunting
Healthcare Marketing - Objectives
Patient acquisition: How do I get more patients coming to my
facilities?
Patient retention: How do I get my patients continuing to use my
facilities?
Patient “winback”: How do I bring back patients who haven’t
using my facilities for some period of time?
New Movers : How do I attract prospective patients in my
facility’s footprint?
6 Ways To Market
Healthcare Organization
Professional Referral Marketing:
A reliable and continuing stream of inbound patient referrals from other
medical or other professional sources is the lifeblood of many specialty
providers
Internet Marketing:
From websites and social media tools, to patient portals and mobile apps,
online marketing is a mainstream channel for marketing, advertising
Branding:
This is all about standing out from the crowd in a positive way, and
it includes virtually everything you do. A powerful, differentiating
brand for your healthcare business is part of your reputation.
6 Ways To Market
Healthcare Organization
Internal Marketing:
This heading includes all the ways and means that you communicate with
people who already know you, primarily present and previous patients.
Depending on the nature of your practice or situation, this influential audience
can be a rich resource for referrals, additional services, testimonials and/or
word-of-mouth advertising
External Marketing:
These are the media that reach prospective patients that don't know you.
Advertising in newspapers, radio, television, billboards and the like target
audience that needs to know that you provide an answer for their healthcare need
Public Relations:
This heading includes, among other things, planning and generating
healthcare publicity and free press exposure, such as newspaper articles or
broadcast interviews
The Marketing Environment
• PEST analysis
PEST analysis
• Political factors
• Economic factors
• Socio-cultural factors
• Technological factors
Political/legal
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Monopolies legislation
Environmental protection laws
Taxation policy
Employment laws
Government policy
Legislation
Economic Factors
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Inflation
Employment
Disposable income
Business cycles
Energy availability and cost
Sociocultural factors
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Demographics
Distribution of income
Social mobility
Lifestyle changes
Consumerism
Levels of education
Technological
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New discoveries and innovations
Speed of technology transfer
Rates of obsolescence
Internet
Information technology
Pricing Strategies
Pricing Strategies
• Premium Pricing
• Uses a high price, but gives a good product/service
exchange
• Penetration Pricing
• offers low price to gain market share - then
increases price
• Economy Pricing
• placed at ‘no frills’, low price
• Price Skimming
• where prices are high - usually during introduction
• e.g new technology
• ultimately prices will reduce to the ‘parity’
• Psychological Pricing
• to get a customer to respond on an emotional, rather than
rational basis
• .e.g Preventive Health Check Ups
• Captive Product Pricing
• products that complement others
• e.g Angio(low p rice) and PTCA (high price)
• Promotional pricing
• e.g. PET Scan
Marketing Budgets
Determining the percentage of your budget that should be allocated to
marketing depends on a number of factors:
How much are other similar practices spending, and how closely do you
want to compete with them?
What is the profile of your ideal patient in terms of their income levels and
what will it take to manage their expectations for a medical practice?
What are the best channels to use to reach your prospective patients, and
the average ROI on these channels?
Finally, how much can you afford to spend and still realize the profit you
need to make for the fiscal period?