HCA 620 What information did you find that can be used in your CLC Business Plan as the best approach to marketing the plan, both internally and externally?

HCA 620 What information did you find that can be used in your CLC Business Plan as the best approach to marketing the plan, both internally and externally?

HCA 620 What information did you find that can be used in your CLC Business Plan as the best approach to marketing the plan, both internally and externally?

Marketing analysis is an important component of a business plan as it focusses on quantitative and qualitative assessment of the same. It examines the attractiveness of a special market in a specific industry. There are various components of the same that can market the CLC Business Plan on ambulatory care. One of the most important external factors that can aid the marketing analysis of the business plan entails the growth rate of the market. According to statistics, the ambulatory care market size in the United States was USD 77.49 Billion in the year 2018 (Dieleman et al., 2018). Given efforts by governmental and non-governmental agencies to create awareness of the industry, the market size of the industry is anticipated to increase by 4.8%, which growth the hospital can leverage to market the plan. Moreover, the market size of the targeted area makes the project appealing to investors. The hospital essentially serves a community, which provides it with a large number of consumers of the services. As a consequence, the profitability of the ambulatory center will be guaranteed while all the equipment will be optimized when it becomes operational. Therefore, the investment will provide value for money to the investors.

However, the above external marketing analysis factors can be supported by certain internal factors to make the plan attractive. A SWOT analysis of the hospital reveals that it already has a team of competent professional including reputable orthopedic and general surgeons to undertake the outpatient surgeries.  The presence of such competence will ensure that the ambulatory center produces patient satisfaction and offers quality services to clients. Moreover, training of the personnel will ensure that they gain further competence, which will guarantee quality outpatient surgery services (Voorhees, Brady, Calantone, & Ramirez, 2016). The adoption of technology in the billing and coding departments will ensure efficiency of services as regards the finances. Such efficiency will guarantee profitability, which is an important marketing aspect for any business. Therefore, the marketing analysis of the present business plan reveals important internal and external aspects that may prove beneficial in pitching the plan to potential investors and the health care setting personnel.

References

Dieleman, J. L., Squires, E., Bui, A. L., Campbell, M., Chapin, A., Hamavid, H., … & Sadat, N. (2017). Factors associated with increases in US health care spending, 1996-2013. Jama, 318(17), 1668-1678.

Voorhees, C. M., Brady, M. K., Calantone, R., & Ramirez, E. (2016). Discriminant validity testing in marketing: an analysis, causes for concern, and proposed remedies. Journal of the Academy of Marketing Science, 44(1), 119-134.

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Hi Timothy: Thank you for making a precise post about marketing analysis. Indeed, it entails the assessment of the

HCA 620 What information did you find that can be used in your CLC Business Plan as the best approach to marketing the plan, both internally and externally
HCA 620 What information did you find that can be used in your CLC Business Plan as the best approach to marketing the plan, both internally and externally

marketing within which a business will operate using both quantitative and qualitative analysis. A marketing analysis does not only reveal pertinent internal and external areas of a company, but also provides a clear picture concerning the competition that exists in an industry (Jacobsen, 2017). Further, the growth of a company and the size of the market within which it is situated form fundamental aspects of marketing analysis. Therefore, a company can leverage them in order to buy support for a business plan.

References

Jacobsen, K. M. (2017). New Anesthesia Services in Office-Based Endoscopy: An Anesthesia Business Plan.

Hi Wafa, thank you for making such a great post. Indeed, health marketing is a health care process compared to the other marketing analysis. Also, the internal analysis of a marketing plan entails using the SWOT analysis tool. The aspects of the SWOT analysis contained in the strengths and opportunities of the tool are important in revealing the internal areas that a company should use to market the plan to both the internal stakeholders and prospective external stakeholders (Burke & Friedman, 2011). In the external analysis, the factors affecting the client, owners, providers and competitors. Analyzing these factors makes it easier to market a business plan.

References

Burke, R., E. & Friedman, H. (2011). Essentials of Management and Leadership in Public Health. Jones & Bartlett LLC.  Retrieved from: https://www.gcumedia.com/digital-resources/jonesandbartlett/2011/essentials-of-management-and-leadership-in-public-health_ebook_1e.php