23 July 2018 - Blog

New Drivers for Success in Hospitals by Healthcare 360 Degree Consultancy

New Drivers for Success in Hospitals by Healthcare 360 Degree Consultancy

Market research in healthcare is gaining its momentum very rapidly these days. The fast changing healthcare market and increasing competition has provoked many healthcare providers to conduct market research for their healthcare units. Earlier, healthcare was linked only with need based service but today with the growing healthcare market, the demand for a particular healthcare facility has shifted from the only available option to one of the options available in the market.

Today, the healthcare providers recognize the value of market research which provides them with comprehensive analytical and statistical information on various parameters that may be helpful for them. Various issues like cost analysis, infrastructure, healthcare equipment, health insurance market and hospital services are covered in market research activities. Market research has gained its importance not only for proposing new project in healthcare but in sustaining the established projects in the market. It has become an important tool to strategize the marketing activities of various healthcare providers to reach their target audiences. It even helps in determining the feasibility of the project which has become an important aspect in this high cost healthcare market. The healthcare research companies follow a scientific approach to meet the needs of healthcare provider and orient them in taking various decisions pertaining to their services.

Though, today, the bottom line view of most of the healthcare professionals is that market research is important to leverage any opportunity in healthcare and to strategize their services towards the target group, but having a correct approach for market research is equally important to minimize the risk and reap the fruit for the right benefit.

1) Major Drivers involved in Feasibility Study

  • Disease Pattern & Migration %age
  • Key Differentiators vis-a-vis other hospitals
  • Management Mix
  • Growth Vision
  • Competition through Pricing Advantage
  • Paying Capacity / Paying Power of Consumer
  • Location Advantage / Disadvantage
  • Population Burden Vs Advantages
  • Government Hospital Vs Semi Government Hospital
  • Private Hospitals with Approx. Revenue & Mix
  • Clinics with Approx. Revenue & Mix

2) Major Healthcare Indicators while doing a Market Survey

  • Healthcare Spend as a % of GDP
  • Per Capita Health Expenditure
  • Public Spending on Health
  • Out of Pocket Healthcare Spending
  • % age of People Migration in terms of getting the Healthcare / Health Needs

3) Micro Economics Analysis includes

  • Hospital Population per 10 K Population
  • No of Doc’s per 10 K Population
  • Nursing Personal per 10 K Population
  • Pharmacist per 10 K Population
  • Key Economics Indicators
  • Government Regulations & Initiatives
  • Demand Driver
  • % age of Health Insurance
  • % age of Government Benifeseries which help Hospital to Identify the growth Potential
  • Medical Tourism
  • Emergence of day care surgery center
  • Tele- Medicine & It’s Scope

Healthcare 360 Degree Consultants will help you doing Market Survey / Feasibility Study / Bank Report you can bang on our expertise and experience which includes Over 108 Years of Accumulative Healthcare Experience.

If you need any support in Market Feasibility Study of a new hospital , Hospital Planning and Design / Hospital Marketing & Operations , you can contact us : Healthcare360Degree@gmail.com , infohc360.in Or you can visit our website www.hc360.in or can call +917023566677