...Presence of Competition in the Healthcare Industry Gina Ruggiero HCA 421 Instructor Celya Tilley August 23, 2013 The driving force of any business is that of competition; the healthcare industry is no different. The presence of competition provides a need to grow and continually offer quality services or products; however, the competition in the healthcare industry can be a very daunting at times. The cost of medical care is rising and patients are expecting a certain level of high-quality care due to the vast amount of information available to them. Patients are now armed with knowledge; they are true consumers who look for the best quality care for the very best price. This paper will discuss the different forms of competition that takes place in health care, evaluate the benefits and pitfalls of competition while suggesting alternatives given competition were not the prime driver of operations in the healthcare industry, explain the essence of successful competition and the use of competitive intelligence and describe the influence competition has on the services offered by health care organizations and the choices patients have. Competition drives businesses to work at their full potential and forces them to constantly evaluate their business strategy and make changes when necessary. Competition also has the ability to force health care organizations to compete for business by lowering their costs of services provided; this competition takes place...
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...1) Product: Shoes The raw material is plastic, then transformed into stylish shoes and sandals, that can be used day or night, for work or party time, each shoe has its own style and message to pass on. 2) Target Market: Age: 15 – 35 Gender: Female Income: 20.000 per year and above Marital Status: Any Sexual Orientation: Any Occupation: Student, worker, stay at home mum Social Activities: Shopping, hang out with friends, drinking, dinning out, internet, movies and partying. 3) Benefits: • All shoes and sandals are made of plastic, therefore they are easy to be cleaned, and can be used in any weather. • With different styles, you can have one for each occasion, or you can use the same one to work and party, depending on your own style. 4) Brand Name: Melissa Logo: [pic] Slogan: Style at your feet Image: Fashionable Women [pic] 5) Packaging A carton box that will come in different colours and designs that can be used for storage, each shoe will come in a stylish plastic bag inside the box. [pic] 6) Promotional Deals: ...
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...Chinese customers, as well as somewhat less stringent supply commitments on zinc and lead concentrates. It has been a long road for Glencore and Xstrata who announced their plan to combine in February last year. They have had to navigate the merger review processes in several major jurisdictions, which can frustrate the most patient of company executives. Glencore’s acquisition of Xstrata will unite one of the world’s largest producers and traders of commodities and one of the largest mining companies globally – but at what price? It was no surprise that competition authorities in those countries and regions most affected would closely scrutinize the deal. The transaction had to be approved by merger control authorities in Australia, China, the EU, South Africa and the US before the parties could close the deal. Australia was the first to give the green light. Having begun its review in April 2012, the Australian Competition and Consumer Commission (ACCC) approved the transaction in early July 2012. The ACCC cited the merged company’s “relatively low share of global production” and the existence of several...
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...considered as a promise. Furthermore, had the advertisement not been included in the subsequent written contract, the parol evidence rule makes it even harder for Brad to pursue his right under contract. A misrepresentation is a false statement of fact, which allows Brad the right to rescind the contract[5]. Damages are also available if the university did not believe the truthfulness of the presentation[6]. However, the university’s liability regarding misrepresentation was excluded by the exclusion clause, which was signed by Brad prior to the contract[7]. As a result, Brad would not be able to seek remedies even if the advertisement was a misrepresentation. The Advertisement - Misleading Conduct Section 18 of the Competition and Consumer Act 2010 (Cth)[8] (‘The Act’) states that a corporation shall not, in trade or commerce, engage in conduct that is misleading or deceptive or is...
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...Essay Australian Competition Consumer Commission (ACCC) has taken Federal Court action against Apple for misleading claims about the connectivity speed of the latest iPad. Apple had advertised on there website as an iPad with WIFI+ 4G capabilities, the tablet is unable to use the 1800MHz frequency which is Australia’s existing 4G network. The ACCC is a part of government that aims to encourage competition in a stable environment and to look after the consumer so the consumers do not believe that they are being taken advantaged of by the misleading claims. This misleading claims or a consumer being feeling cheated allows the Australian Competition Consumer Competition to intervene in behalf for the consumer. ACCC had to intervene in behalf of the consumer when apple had made misleading statements about their latest product the iPad. Australian Competition and Consumer Commission believed that apple had made misleading statements about their connectivity speed of the iPad. The basis for this intervention is to maintain or enforce competition within Australia and by the misleading claims the company apple was misleading the consumer by the reference to 4G capabilities. To maintain or even enforce competition ACCC has to intervene to allow the consumer the choice of choosing the product and to have the information about the product before making a decision on the product to purchase. ACCC intervenes to monitor or foster competition so no single market participant has enough...
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...leader in the healthcare services and an extraordinary trend-setter in medications and the diagnostics. US hospitals, clinics, health centers and research centers have given an extremely decently prepared innovative environment for the healthcare. The United States has the biggest healthcare services on the planet which speaks to an extraordinary allotment of the US economy. In the year of 2010, the healthcare industries utilized more than 14 million individuals or the nine percent of the aggregate US work industries. In 2010, healthcare industries represented around $1.75 trillion in incomes. The overview of the U.S. Bureau of Labor Statistics assesses that between 2008 and 2018, the healthcare industries...
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...provide a summary on the key forces which is likely to affect healthcare industry at the level of the macro-environment. Malaysia has been seen as one of the best destination for medical tourism for its modern private healthcare facilities as well as highly efficient medical professionals (Arshad, Velasamy and Wong, 2014). According to Matta president Hamzah Rahmat, the weakening Ringgit Malaysia is perceived to have benefited the medical tourism industry however the unstable political situation such as rallies, protest and violence had kept the tourist away (FMT, 2015). Despite the unfavourable political situation, healthcare industry is still expected to grow at a double-digit rate (The Edge, 2015). Based on HLIB research on healthcare sector, one the catalysts for the sector is that the community has higher educational level and awareness toward personal health which in turn increase the demand of healthcare services (The Edge, 2015). Besides, technology advancements are also transforming the healthcare industry vastly for the past decades. Technology has improved information gathering, research, treatments and communications between doctors and patients (MOH, 2015). As such, it give medical providers a fresh, effective and efficient way to practice medicine. Threat of New Entrance It is not easy to enter into the private healthcare industry in Malaysia as the industry is highly regulated by the Private Healthcare Facilities and Services Act 1998 (Nik Rosnah, 2011). According...
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...and Demand of Healthcare Veronika Havlíčková AEM 2012 When we compare demand for usual goods and demand for healthcare we can characterize the demand for healthcare as irregular and unpredictable. The intensity and elasticity of demand is affected by several facts. Degradation of health conditions (illnesses, wounds) is connected with huge losses and the cost itself. There are also costs for healthcare that have to be considered. People lose their money, have to change their lifestyle. Pain and discomfort are a serious intervention into a personal integrity. The price elasticity of demand for healthcare really is controversial. When trying to find it there is a need to have on mind a remarkable heterogeneity of the production. The question of finding, whether the demand curve is not very elastic (whether most of the expenses for healthcare is involuntary – dictated by the actual health condition) or relatively elastic is rather difficult. Most experts however believe that health care demand is fairly inelastic. If you are sick, you will not be very price sensitive. There are exceptions like plastice surgery but most studies find that patients are insensitive to changes in health care prices. The elasticity is according to some estimations between 0,2 and 0,7. It’s important to separate healthcare and the actual health. If there is the connection between these two entities there can be the demand of an individual for healthcare connected with...
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...the case study, a 350 bed not for profit supplier of surgical and medical services, Scarlett Hospital was presented with a dilemma of losing patients. The improvements in infrastructure of transportation have sourced the Scarlett Hospital top executives to reflect on the effect of a construction of new highway might have on the facility. Easy admission to the larger Salem city and its institutions of healthcare fetches the risk of prospective consumer’s loss to Scarlett Hospital. CEO and the president of Scarlett Hospital, Timothy Rogers is endowed with the decision making of discovering finest strategy for the Scarlett hospital to continue being competitive with the bigger facilities in Salem. Timothy Rogers believes his beliefs to convey the utmost medical care quality will carry on helping Scarlett Hospital contend in the additional competitive surroundings. For 14 years Timothy Rogers has been working with Scarlett Hospital proceeding to the merger amid two contending hospitals. With having earlier experience countenancing challenges from additional institutions of healthcare, I believe Scarlett Hospital and Mr. Rogers are prepared to contend with the additional effortlessly accessible Salem institutions. Complacency Complacency relates to self-satisfaction particularly when escorted by ignorance of real danger or deficiencies; it can be a case of typically uninformed or unaware self-satisfaction. When tackling with complacency, the pitch habitually place by irritated...
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...Flattening of Healthcare The flattening of the world, specifically with technological advancements has given way to an increased amount of competition to businesses not traditionally open to international competition. One of the least discussed industries expanding its competition because of technology is healthcare. The globalization of the healthcare is one way that American hospitals, to be more specific, have increased their scope of influence overseas. Hospitals are now sending surgeons overseas to perform surgical procedures with real time information being delivered back and forth electronically between physical locations. This allows major hospitals here at home to now compete internationally and push back against the increasing popular phenomenon known as medical tourism, the practice of seeking low-cost healthcare in foreign countries. The Cleveland Clinic not only engages in this practice but is now actively expanding and building hospitals overseas. Electronic medical records and medical robotics have allowed the Cleveland Clinic health system here in Ohio to monitor all procedures being done overseas and even allows surgeons here in the US to perform surgery on international patients from right here at home. The advancement of surgical robotics and information communication technologies have allowed surgeons to transcend traditionally human limitations. These new technologies allow major hospitals like the Cleveland Clinic to increase their capacity for competition in foreign...
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...Marketing Strategy for Today's Healthcare Brock Ewings HCS/539 January 24, 2012 Debra Schrager Marketing Strategy for Today's Healthcare The healthcare industry has grown to become a headline frontrunner in America. With intense political attention and worsening economy, competition in healthcare has grown to an ultimate high. Healthcare providing organizations, large and small, are stepping up marketing campaigns immensely to gain public recognition and utilization of services. Competition in marketing is no longer for car dealerships that draw consumers in for a test drive, but healthcare organizations such as hospitals, clinics, and specialty centers are starving for attention and preying on the ailing Americans. America’s health and wellness is declining and it is clear to see with child obesity and an aging population causing media stir daily. The need for hospital care has never been greater. So how are organizations competing for their own slice of the illness pie? Through increased marketing strategies inclusive to radio, television, billboards, and the World Wide Web, organizations are luring the public in to fill their beds. There are many questions to be answered on the subject. What are current marketing techniques? Are these techniques affecting consumer trends? Finally, how is this affecting the healthcare worker? Current Marketing Techniques There is only one word used by healthcare organizations to describe the care they provide, their facility...
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...Becky Foster Stopping Outshopping In the case study, Scarlett Hospital, a 350 bed not for profit provider of medical and surgical services, was presented a dilemma of the possibility of losing patients. The transportation infrastructure improvements have caused the top executives of Scarlett Hospital to consider the impact a new highway system may have on the facility. Easier access to the larger city of Salem and its healthcare institutions brings the threat of potential loss of consumers to Scarlett Hospital. Timothy Rogers, the president and CEO of Scarlett Hospital, us trusted with the decision of what is the best strategy for the hospital to remain competitive with the larger facilities in Salem. Mr. Rogers’ feels his philosophy to deliver the highest quality of medical care possible will continue to help Scarlett Hospital compete in the more competitive environment. Mr. Rogers has been with Scarlett Hospital for 14 years prior to the merger between two competing hospitals. With having previous experience facing challenges from other healthcare institutions, I feel Mr. Rogers and Scarlett Hospital are prepared to compete with the more easily accessible institutions of Salem. Complacency Complacency is the self-satisfaction especially when accompanied by unawareness of actual danger or deficiencies; it can be an instance of usually unaware or uninformed self-satisfaction. (www.merriam-webster.dictionary.com) When dealing with complacency, the tone often set by...
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...A Marketing Plan for an Imaginary Managed Care Organization Executive Summary and Situation Analysis Working for the Managed Care Organization of America, the ultimate goal would be to ensure cooperation in the understanding, agreement, and commitment between all divisions and units. One of the problems at the Managed Care Organization of America is that the healthcare professionals are put in a position where they are inhibited in their involvement over the communication and networking systems between the Nursing Administration, the head of each nursing unit or the RN or LVN in charge, and the certified nursing aids. This executive summary takes a brief look at designing and developing a contract process program that integrates cooperation and communication systems between the Nursing Administration, the head of each nursing unit or the RN or LVN in charge, and the certified nursing aids. Another challenge for the Managed Care Organization of America is the unclear policies in the Hospital Equipment Management Program. This executive summary offers a proposal whereby the healthcare professionals would develop and monitor a two-way communication channel and incorporate it into the Hospital Equipment Management Program, hold related workshops that can be attended by the Director of Hospital Operations and the division managers, build a cooperation team that unites operational goals and develop systems that evaluate whether these operational goals are being met and implemented...
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...Assignment 2: Outsourcing Federal Healthcare Many of the services and tasks performed and provided by the federal government of the United States are outsourced to private businesses. Like anything performed by any business, organization or government body, there are potential improvements that could be implemented. Here, I will discuss the stakeholders involved in the federal healthcare systems of Medicare and Medicaid, and how the strategies might be improved within outsourcing practices. Multiple groups hold interest in the strategies used by Medicare and Medicaid to provide healthcare to patients. Medicare contracts with private health insurance companies to provide specific benefits to people with Medicare. People eligible for Medicare include those over 65 years old, or those who are disabled. Medicaid is operated at the state government level, and generally covers disabled, and people over 65 years old with low income and minimal assets. In addition to the people covered under these systems, additional stakeholders include doctors, hospitals, insurance brokers and agents, and public policy-makers (legislators). An easily forgotten group of stakeholders within these systems are taxpayers not currently receiving direct benefits from these systems, but who are directly contributing funds which are used to fund Medicare and Medicaid expenditures. Those who are recipients of Medicare and Medicaid benefits want to receive the best possible care, with the least amount of...
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...doing good. That’s what capitalism is all about.” (Brainyqoute, 2013). Capitalism can be defined as an economic and political system based around property ownership and private industry. It is a different form of government where the system is based upon individual rights. The key component of capitalism runs off competition, all markets are open with little or no government directive. This form of government has a tremendous effect on healthcare in that Capitalism is based on demand and supply and when dealing with healthcare the demand and supply are disconnected. Capitalism is defined as a free enterprise system. It is essentially a competition between markets as well as unregulated supply and demand. Each individual is permitted to sell whatever product at whatever price as long as the market can sustain it. Decisions about products are made solely on the need or demand. If there is no demand then there will be no profit, if the demand is high then there will be a profit; however, if the demand is too high, there will not be enough suppliers. Nearly every nation has a different economy which means capitalism will operate differently. The future for healthcare holds many negative and positive factors. It will be positive in that Capitalism will encourage health care providers to be efficient by concentrating on the things which are on demand rather than those that are not. Capitalism will also allow the health care industry to grow exponentially because the health care organizations...
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