Value Proposition in Patient Care
Value Proposition in Patient Care
For a long time, the health industry seemed to be immune to the need to tend to consumer needs like most services industries were doing. As a result, many of them began falling behind the new ventures that sought to address issues affecting clients while seeking care. The trend caught on across the globe and the value proposition for patient care became an issue of continued demand across various health centers. As a result, heath services became more client-centered and services were made convenient to meet the needs of the consumers. Prices were lowered while quality was improved to match what they wanted. This has led to a flurry of activities from various health centers that are looking to overtake the legacy providers who still stick to the older models of providing services. Ideally, the majority of the changes taking place show that the basis of any investment is to meet the needs and demands of the clients because it allows for easier fulfillment of the client’s needs as well as realize the objectives set by the company. The essay herein will look at the various changes that can occur at Paradise Hospital if the value proposition is adapted.
Value Proposition
The value proposition is a concept that seeks to identify key segments of the business that require intense probing to see ways they can be improved. The value proposition is a marketing strategy that helps in the summarization of why consumers should purchase a product or service one is selling (Ferguson, 2012). The statement is packaged into five main segments that could determine the level of development achieved if such attributes are considered at different levels of growth. The first one is the area of important customer segment (Welton & Harper, 2016). This is followed by a customer need, which can be said to be highly desired and could be problematic to get. The third thing is the pain that can be associated with the pursuit or the lack of fulfillment of the need. The fourth thing is to look at the benefit of the need. The last bit looks at a product or service that can be used to assist the customer in avoiding the pain of pursuing the need but still be fulfilled better than if the need was met in the first place.
The difference with the above model can be seen looking at the traditional model of the value proposition. The hospitals traditionally aimed at providing quality and enhancing patient satisfaction. That played a role in keeping the clients coming back to get medication at that place. Quality was determined by adhering to specific rules and regulations that allowed for the easier development of desired outcomes (Welton & Harper, 2016). It was a chance to meet the demands of the community based on the avoidance of undesired outcomes while seeking to achieve the desired outcomes. It was a moment that allowed communication to caregivers to address pain management adequately as well as provide an acceptable environment within the healthcare setting. Since the community trusted the hospitals, the management had to retain the link with its clients as a means of addressing the approaches used and needed changes across the divide (Ferguson, 2012). However, the modern methods prove to be more acceptable as that allows for more convenience, increased affordability as well as efficacy when handling various attributes.
A good start to making value proposition part of the company is based on the development of efficacy and safety across the medical fields. Many people understand that the diagnosis and prognosis procedures are imperative to the health of individuals, but it is important to make these procedures foolproof to avoid any wrong prescriptions (Welton & Harper, 2016). The ability to conform to such attributes will build on a stronger version of the increased success to the future that will allow the hospital to understand what the clients want. This will also develop a better way of Paradise Hospital to realize its goals within the medical community (Ferguson, 2012).
Another area that requires increased attention is that of developing and maintaining evidence-based medicine policies (Welton & Harper, 2015). With time, millions of patients around the globe require nurses and health practitioners that can ascertain the patients’ needs whilst providing the attention required to each problem a holistic approach would improve the way the patients deal with their ailments, attributes that could provide them with better responses to the treatments (Ferguson, 2012). It is important to provide something different to the patients to make them deal with their ailments rather than just prescribing medications alone. They need to feel a connection that will make them confident that whatever they need can be attained at Paradise Hospital and trust in the delivery of the same products.
Another good way of getting clients to feel valued is to carry out marketing campaigns to areas near their neighborhoods. The aim is to present the hospital closer to the people and allow more people to get free testing and other services at the comfort of their homes (Ferguson, 2012). The goal is to deliver plans that will assist in educating consumers to take care of their health while at the same time providing them with the possibility of getting the same closer to them. The hospital will work with local caregivers to make impromptu visits to some of the individuals getting care at home as a way of addressing the consumer-directed healthcare provision that will lead to wider influence across the community (Welton & Harper, 2016). This will be an act of giving back to the community. The value proposition seeks to provide a means of addressing some of the issues patients have without having to incur more costs for them due to travels or presenting them to risky situations.
Employing local residents boosts the hospital’s image. Many locals believe that a company that can associate with the locals has good intentions. Bringing all people together allows the community to benefit. In 2010 alone, hospitals and health-related ventures in the state provided employment to 555,000 locals, an aspect that injected close to $31 billion in wages, salaries, and taxes (Welton & Harper, 2016). If Paradise Hospital does the same, it will be paying back to the society while still improving the lives of millions who would wish to remain attached to the hospital’s services. Given that these same individuals live within the community, the care offered is mainly 24 hours every day of the year, an aspect that assures patients of care at the most convenient location position (Welton & Harper, 2015). A suggestion will also be made to ensure that the employees can visit patients at their homes in case they call in requesting for a check-up, rather than have them come all the way to the hospital.
Having a strong outlook of the issues taking place within the community provides a new way of addressing and responding to the needs of the community. Expanded access is an issue that will get the hospital servicing more people within the community. This will be capped by the increased ability to control the costs and ensure the financial stability can be attained and retained (Ferguson, 2012). The last attribute is dependent on the improvement of quality. Getting a mix of these three elements will create the best response possible to address the needs of the society.
In conclusion, the value proposition project ought to address critical aspects that will identify the needs of the community while still offering the healthcare center a chance to participate in the delivery of various attributes. The only mission for Paradise Hospital is to venture into various conditions that will allow for an increase in the changes taking place across the community as well as enable the provision of value as intended for the clients.
References
Ferguson, S. (2012). Partnering with the NIH: Now part of the "value proposition" for start-ups. Journal of Commercial Biotechnology, 18(2), 60-68
Payne, A., & Frow, P. (2014). Deconstructing the value proposition of an innovation exemplar. European Journal of Marketing, 48(1), 237-270.
Welton, J. M., & Harper, E. M. (2015). Nursing care value-based financial models. Nursing Economics, 33(1), 14-19, 25.
Welton, J. M., & Harper, E. M. (2016). Measuring nursing care value. Nursing Economics, 34(1), 7-15.
