Branding has been successfully practiced by consumer packaged goods companies for decades. But only recently have health care organizations begun to embrace this concept and hence, few of the well developed brands exist. Branding is beneficial for health care organizations because the rewards of branding can be great as it provides an opportunity to truly assess the needs of their members, develop capabilities to meet those needs and more effectively communicate the ability to meet those needs. To develop a strong brand, hospital executives must gauge the brand from the patient's point of view to figure out what they like or dislike about the brand. It also noted that a great hospital brand appeals to emotions with a powerful experience that goes beyond quality metrics and connects to patients. Brands matter and health care is no different. It is about patient care and complex science, but it’s also about dollars and cents. Branding is a $2.8 trillion industry in the U.S. alone, and every sector in the industry needs revenue growth because demand for health goods and services is increasing rapidly and medical inflation and labor costs add 3% per year to costs of operation. And in health care, a strong brand can often lead to more revenue.
Historically, brands were built on impressions by first hand users such as patients, members, clinical trial subjects or word of mouth. In some sectors, advertising helped bolster brands hospitals, drug companies, and insurance plans invested strategically to win hearts and minds of their customers, and differentiate to the extent...
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Deloitte. (26 Novemver 2012). Branding in the health care industry: a whole new ball game. Retrieved from: http://blogs.deloitte.com/centerforhealthsolutions/2012/11/branding-in-the-health-care-industry-a-whole-new-ball-game.html
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