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Opportunities And Risks Associated With Concierge Medical Practices

3318 words - 14 pages

Partners’ Concierge Medical Marketing Plan
Corissa A. Wiest
SID# 20228890
Mark 6371.90L Health Care Marketing
University of Texas-Pan American

Executive summary
Maintaining optimal health should be everyone’s top priority, but who currently fully understands all health options and services that are available to them? Many individuals have financial managers who look after their financial health, but now many consumers have came to the realization that when it comes to their most valuable asset, their physical health they need a comparable resource.
With ever changing health care regulations, a diminishing primary care physician base, and new medical technology creating an ...view middle of the document...

Macro-environmental analysis
Political macro-environmental factors.
Due to the passage of the Consumer Protection and Affordable Health Care Act (PPACA) on the 23rd of March 2010 there have been many changes to the current health care laws to facilitate ease of access to healthcare. Due to the nature of concierge medical services limiting access to health care by mandating a retainer, and also by structuring the practice to limit the number of consumers seen there is a concern that political influence could affect the structuring and services charges for concierge medical services. This political influence can be enacted by legislative procedures in order to reduce the availability of concierge medical clinics to consumers.
Economic macro-environmental factors.
Nationwide, the cost of health care for consumers is continually rising, while reimbursement rates from the federal government and insurance companies to the physicians has been in decline. Due to the diminishing purchasing power of the American consumer for healthcare services, the consumer expects more value for the services paid for than are currently provided.
With the median household income of $124,586.00 (City-Data, 2014) Partners’ Concierge Medical clinic plans maximize consumer’s disposable income to ensure value for the consumer, while offsetting the reduction in profits due to lower payback percentages from the federal government and insurance companies. It should be noted that a reduction in disposable income by consumers could affect the overall profitability of the organization, as consumers could look to lower cost replacement options for concierge type medical services.
Social macro-environmental factors.
In today’s society convenience is now referred to as a requirement and not a luxury as it was for past generations. Current cultural dictates that companies find a more convenient way to deliver their products and services to the consumer. This also rings true for the healthcare industry. With an ever growing time-constricted consumer base medical service providers need to come up with innovative ways to delivers their services to their consumers.
With medical service providers conforming to the trend of convenience, they need to in turn distinguish themselves from their competitors. Another emerging trend in the medical services field is customization. An example of this is compounding pharmacies. Through, these pharmacies are not covered by insurance plans consumers are going to them at increased rates for prescriptions that are customized to their exact weight, blood type, and family histories.
In order to remain viable Partners’ Concierge Medical needs to ensure that they are offering services that are versatile and can be tailored to social trends. By offering services that are both convenient and customized they are able to adapt their offerings to meet the consumer’s exact needs in a timely manner.
Technological macro-environmental...

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