UMUC Health Care Marketing Discussion

Written Assignment #4 – Place & Pricing Decisions

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The third prt of St. Mary’s: Will send you the other assignments (completed) to elaborate on…..

Written Assignment 4 – Health services organizations place and price decisions –

Overview:  Your third assignment will be an analysis of the place and price decisions of a health services organization as covered in Week 5 and 6.   You may use the same organization that was your focus on Written Assignment 2, or pick another health services organization with which you are familiar.  Be sure you understand the marketing concepts discussed during Weeks 5 and 6 and can apply them to your organization.

You might have to seek out some information on the organization by visiting its website, or if it is an employer interviewing someone who has knowledge of the pricing and distribution decisions.  After you have completed your research, answer each of the following questions in turn following all the general guidelines or written assignments posted in the syllabus.

  • Brief overview of the organizations service/products and a description of their target market.  This is important to ensure that your analysis considers the needs of the target market in evaluating their pricing and channel decisions.
  • How do you think the organization arrives at its price?  Refer to the Week 6 Overview for a framework of some of the pricing considerations and discuss those that appear relevant to your organization.
  • Do you think the pricing strategy is appropriate?  Can it be improved to better meet its customer’s needs?
  • Is the organization hindered or helped in their pricing decisions by government or payer restrictions.  If so, how do these restrictions impact their pricing strategy?
  • What kind of value delivery network does the organization employ, e.g. horizontal or vertical, and what is their distribution strategy, e.g. exclusive, intensive or intensive? What factors influence the distribution strategies of this organization?  Are they customer-focused?   If possible, outline all of the channel members and what function they perform to serve the customer?
  • Can you recommend any changes to the value delivery network that would serve customer needs better?
  • St Mary’s Hospital (Waterbury)
    Name
    Date
    St Mary’s Hospital (Waterbury)
    St Mary’s Hospital (Waterbury) is an urban hospital situated in 56-Franklin Street,
    Waterbury in Connecticut, United States. The institution is an affiliation of the Yale University
    School of Medicine under the Umbrella of the Trinity Health which was established in 1907 as a
    treatment facility for Trauma patients. In 2011, St Mary’s Hospital merged with Waterbury
    Hospital which was later dissolved in 2012.
    St. Mary’s Hospital has a bed capacity of 347 beds and offers a wide range of care. It is
    divided into various departments which include St Mary’s Behavioral Care, Wound Care Healing
    Center, St Mary’s Hospital Surgery, Radiology and consultancy in pathology. St Mary’s hospital
    aims at providing and transforming Health care within the community (Trinity health of New
    England, 2020). The facility has a wide customer base as evident from the services it provides. The
    services include cancer, emergency, Intensive care, Laboratory services, gastroenterology, dialysis,
    endocrinology, behavioral health, cardiac services, nutrition services, neuro spine surgery,
    infectious diseases, and travel medicine among other services.
    With a wide array of services, it is important to have a marketing plan to reach 3.573 million
    people in Connecticut and beyond. Moreover, the change in acquisition makes it necessary for a
    marketing plan to maintain existing patients and attract new patients. A marketing plan will act as
    a tool to gain competitive advantages over its competitors which include the Hospital of Central
    Connecticut, Bristol Hospital, Jefferson House, Danbury Hospital, CoxHealth, Lancaster
    General Hospital, Staten Island Univ Hospital NY, Community Medical Center, Columbia
    Memorial Hospital, The Acadia Hospital among other facilities.
    References
    Trinity Health of theNew England (2020). About Saint Mary Hospital. Retrieved from
    https://www.stmh.org/about-us-2865
    St. Mary Hospital, Waterbury
    Beverly Martin
    02/6/2020
    St. Mary Hospital, Waterbury
    St. Mary Hospital Waterbury, Connecticut is an affiliate of the Yale University School of
    Medicine and is managed and operated by the Trinity Health. The hospital operates on non-profit
    catholic healthcare system which comprise of hospice, home care, senior living facilities and
    PACE. St. Mary Hospital, Waterbury was established in 1907 to help trauma patient and in 2011
    merger with Waterbury hospital was planned which ended in 2012. In an effort to offer quality
    health care, the hospital has grown to a bed capacity of 347 beds and offers a wide range of care
    which includes Wound Care Healing Center, St Mary’s Behavioral Care, Radiology, St Mary’s
    Hospital Surgery, and consultancy in pathology.
    Primary Target Market
    Saint Mary’s hospital offers a wide range of services to 3.573 million people in Connecticut.
    The facility defines its target market based on the services it offers. The facility targets behavioral
    health patient from Connecticut and beyond. In an effort has transitioned its outpatient behavioural
    health services to Wheeler Clinic at 100 Jefferson square, Waterbury. Besides, St. Mary’s hospital
    targets cancer patients in greater Waterbury area and aims at providing comprehensive cancer care
    by combining innovation, diagnosis using cutting edge technology and therapeutic treatment. The
    hospital committed to bring cancer awareness and increasing patient involvement in cancer
    management and treatment. The cancer department conducts a local screening, digital imaging
    services, biopsy procedures in the process of cancer diagnosis and testing. The hospital has a
    multidisciplinary approach to cancer care which is enabled by a team of specialists who are
    committed to improving cancer survival rates.
    Every second counts when evaluating the performance of the heart. The Saint Mary’s
    cardiovascular center is accredited by the American College of Cardiology and targets
    cardiovascular patients within Connecticut and beyond. The center offers advanced diagnosis,
    treatment education and support to the patients. Moreover, the facility targets emergency patient
    through the emergency department which comprise of paediatric emergency care, life star
    helicopter behavioral health service, level II trauma center.
    With over 35 years of dialysis service, St. Mary’s hospital still targets renal care patients.
    The hospital has hired leading nephrologists in Greater Waterbury who offer continuing dialysis
    care and inpatient dialysis services such as haemodialysis and peritoneal dialysis. The quality care
    is aimed at attracting more patients in need of renal care. Infectious diseases and travel medicine
    treatment is an essential care offered to people of Waterbury. The center targets patients ailing
    from chronic viral diseases such as Hepatitis B, HIV and Hepatitis C.
    Saint Mary’s Hospital targets to attract more customers through its endocrinology services,
    gastroenterology, intensive care, neuroSpine surgery, laboratory, and nutrition services. The
    services widen the hospital’s target market which grants it a competitive advantage over the
    competitors.
    Behavior Patient’s Exhibit During Decision Making
    The patient’s behavior is influenced by availability of information. Despite patients being
    surrounded by several health care providers, patients choose which health care facility to visit
    based how informed they are, their preferences and taste. Frequently, patients seek to know the
    facility’s overall rating and read reviews from previous patients who received similar service.
    Moreover, the patients are interested what other treatment may be required and whether they are
    offered in the facility. Cost is a major factor patients consider when making health care decision
    since they are cautious about exhausting their healthcare insurance and how convenient would it
    be for the patient in case is required to make check-up visits.
    The Organization’s Value Proposition
    Wide range of
    medical
    services
    Convenient
    Satellite and
    affiliate Facilities
    Level II Trauma
    Center
    Cardiac and
    stroke care
    Paediatric
    Emergency care
    unit
    St. Mary
    Hospital,
    Waterbury
    Advanced Surgical
    Services such as
    Robotic Surgery
    System
    Quality, safe and
    value Health care
    services
    St. Mary’s Primary Competitors
    Saint Mary’s Hospital face competition from the Hospital of Central Connecticut,
    Bristol Hospital, Jefferson House, Danbury Hospital, CoxHealth, Lancaster General Hospital,
    Staten Island Univ Hospital NY, Community Medical Center, Columbia Memorial Hospital, The
    Acadia Hospital among other facilities.
    Competitive Analysis
    .
    Recommendation
    Running head: SAINT MARY’S HOSPITAL
    1
    St. Mary Hospital, Waterbury
    Name
    Date
    SAINT MARY’S HOSPITAL
    2
    St. Mary Hospital, Waterbury
    Saint Mary’s hospital, Waterbury’s mission is to provide holistic and compassionate health
    care to transform the healing presence within the community. Since its establishment, the hospital
    has been on working towards improving health service delivery. It has been a vital part of ensuring
    quality health for the people of Waterbury by expanding its network of medical services by
    forming alliances with other key health care partners, investing in new technology and way to
    deliver medical services and providing patients with compassionate healing environment.
    Saint Mary’s hospital, Waterbury offers a wide range of service which targets 3.573 million
    people in Connecticut and beyond. The hospital has a bed capacity of 347 beds to accommodate
    patients ailing from various diseases and conditions. the diverse range of services defines Saint
    Mary’s Hospital target market. With a cancer center for patient ailing from cancer, the hospital
    provides comprehensive care to cancer patients and brings cancer awareness to the community.
    The cardiovascular center offers advanced diagnosis, treatment education, and support to
    cardiovascular patients. Also, the hospital targets renal care patients through their highly qualified
    nephrologists (Trinity Health of theNew England, 2020). Through the infectious diseases and
    travel medicine center the hospital offers care to patients ailing from chronic viral diseases such as
    HIV, hepatitis B and C. the hospital targets more patients through gastroenterology, neuroSpine
    surgery, endocrinology services, laboratory, intensive care, and nutrition services
    The market environment has become competitive with companies availing substitute
    products for the consumers to choose, however, consumers are cautious of the prices. Every
    business aims to maximize profit which is directly linked to how well their products are priced.
    The facility used a multidisciplinary approach when it comes to pricing (Smith, 2012). The
    hospital uses competitive pricing and bundled pricing strategies to come up with prices that the
    patients are willing to pay. Unlike product pricing, it difficult to evaluate the amount charged for
    SAINT MARY’S HOSPITAL
    3
    Healthcare service. Patients find it difficult to identify variance in price between different
    providers.
    The bundled pricing strategy helps the hospital to offer controlled prices which is
    advantageous to consumers as it is a cost-saving technique. St. Mary’s Hospital offers a flat
    bundled rate to help patients and payers better control of their health care cost. The bundled
    pricing strategy helps the facility to offer consistent and measurable costs as it identifies factors
    driving up the cost. The pricing strategy is appropriate for the facility because it provides a high
    level of transparency by availing more information to payers and patients.
    The pricing strategy is of the hospital is not hindered by government or payers restriction
    because its strategies adhere to government policies and provide payers with adequate information
    for their members to make value-based decisions (Hinterhuber & Liozu, 2018). The bundled
    strategy helps payers and patients to compare various variables that affect the overall medical
    costs. The strategy makes patients sensitive to the price thus they can make decisions on whether
    to choose low or high-cost care.
    Saint Mary’s hospital employs intensive distribution to attain a horizontal value delivery
    network. The intensive distribution strategies are influenced by various factors such as high
    competition, Increased number of patients, government policies, advancement in technology and
    changes in consumer culture. Saint Mary’s hospital is customer focused which is evident from the
    compassionate environment and personalized health care granted to patients. Moreover, the
    organization offers a clear communication channel that ensures patients have access to
    information.
    I would recommend that Saint Mary’s hospital should reduce the patient wait time by
    automating some of the procedures. Also, the hospital should offer training to its employees on
    ways to improve customer relationships and responding to patients’ feedback.
    SAINT MARY’S HOSPITAL
    4
    References
    Hinterhuber, A., & Liozu, S. (2018). Innovation in pricing: Contemporary theories and best
    practices. Abingdon, Oxon; New York, NY: Routledge.
    Smith, T. J. (2012). Pricing strategy: Setting price levels, managing price discounts, &
    establishing price structures. Mason, Ohio: South-Western Cengage Learning.
    Trinity Health of theNew England (2020). About Saint Mary Hospital. Retrieved from
    https://www.stmh.org/about-us-2865

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