The 5 P 's Of Healthcare Marketing

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In this unit, we will be discussing real-life healthcare organizations, the 5 P’s of healthcare marketing, and evaluation strategies that may be used to determine marketing potential. • Select and provide a general overview of three (3) healthcare organizations that interest you. • Discuss the 5 P’s of healthcare marketing to each healthcare organization. • Elaborate how the 5 P’s of healthcare marketing may impact the marketing potential of a healthcare organization. • Discuss an assessment or evaluation strategy which may be used to help determine the marketing potential of an organization. Healthcare organizations are designed to meet the healthcare needs of individuals and promote a healthy community. The three healthcare organizations that interest me are: The Heart Hospital Baylor of Plano, Texas Health Center for Diagnostics & Surgery Plan, and Parkland Health and Hospital System. Due to evolving healthcare industry, focusing on just patients and physicians is no longer a marketing strategy. According to Mycek (2015), “Marketing teams need to expand their consideration set and focus on the new 5 P’s of Healthcare Marketing” (p. 1). The new 5 P’s of marketing now impact the marketing potential of healthcare organizations by offering changes in sales rep – physician access, purchasing, formulary decision making, and growing patient empowerment. The new 5 P’s of marketing are: Physicians, Patients, Payers, Public, and The Presence of Politics. The Heart Hospital Baylor Plano is an Acute Care Hospital located in Plano, TX. The Heart Hospital Baylor Plano opened in January 2007. The facility provides outpatient services, inpatient services, and emergency services to patients. The facility is the sixth largest cardiac surg... ... middle of paper ... ...hy they feel they are a better facility than others. The Presence of Politics is another marketing tool that is used by the facilities I chose as well as others. Besides Government laws and Regulations, Hospital owners implement policies and procedures within their facilities to maintain effectiveness. The hospitals I chose are very big on Patient Privacy and Safety, so they have information posted on their website for patients to read. They assure patients their facility follows a strict privacy policy in accordance with state laws and regulations. This is an important marketing tool for facilities because patients want to know their medical records would be confidential and they can trust the staff members with their health conditions. When patients know they can trust a facility, they are able to visit that facility and tell others how great that facility is.
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