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Financial Management

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There are very few industries that have the unique economic factor in which the majority of its revenue does not come directly from the customer, but from a third party. This unique economic factor is usually referred to as a private healthcare insurance company. Third party payers are the commercial, governmental, and healthcare maintenance insurance companies that help providers manage its patient's accounts.

To increase referrals, Verybest is beginning to develop a new marketing campaign for the assisted living and home health agencies business. You have been asked by the CFO to converse with the marketing director indicating the importance of having advertising materials for both the health insurance companies and the patients who receive the healthcare services. List three marketing approaches you would use to target potential patients and healthcare insurance companies. Explain what factors you used in choosing your specific marketing strategies and the purpose of each selection.

Some marketing strategies may include the following:

find a way to be unique and different
add value by bundling services
direct marketing
market to existing customers and referrals

Objective: Discuss the role of third parties in health care revenues and expenditures.

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The response addresses the queries posted in 444 words with references.

//In the present times, a cut throat competition prevails in the market between the various firms. So, every organization should keep pace with good marketing strategies. In this paper, we will discuss about certain marketing strategies for a health care organization. These will be few promotional strategies for the firm. You are free to add more, if you want. //

The healthcare industry is much diverse from the other industries. The revenue of this industry very much depends on the private health care industries. There are various strategies, which can be adopted to attract the prospective clientele. Various types of diseases crop up in ...

Solution Summary

The response addresses the queries posted in 444 words with references.