1. Healthcare Marketing & Ethics

2. MARKETING

3. Definition of Marketing
‘Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably’
The Chartered Institute of Marketing

4. Hospital Marketing Connects
Patients
Physicians and
Providers

5. Four Ethical Principles of Healthcare Marketing

6. Four Ethical Principles of Healthcare Marketing
Put Patient's Welfare First
Patients must come before profits. Patients have the right to expect care of the highest standard of quality consistent with technological and physical limitations
We accept the principle that a patient will receive all necessary care regardless of their ability to pay

7. Four Ethical Principles of Healthcare Marketing
Avoid unnecessary services
Marketing should not induce a patient to accept excessive, unneeded, or nomadically indicated healthcare services, regardless of cost, risk, or source of payment. It is unethical to build demand for unneeded services.

8. Four Ethical Principles of Healthcare Marketing
Maintain high standards of honesty and accuracy
Healthcare marketers must do more than merely avoid false or misleading advertising. While marketing legitimately seeks to influence behavior, marketers have an obligation to provide fair and accurate information when they promote their services .

10. Four Ethical Principles of Healthcare Marketing
Be accountable to the public
Marketers should develop marketing plans believing that these plans will likely be revealed to the public in the future. Marketing professionals should avoid activities that they would not want their families to read about in the newspaper

11. my 7 year old son wants this Chocolate

12. Product Vs Service
While Products that can be seen, felt, touched and tasted are tangible, Service as a product is based on post-sale experience and is intangible
Consumers can come up with desirable parameters for a tangible product in terms of productivity, efficiency, etc. whereas, it is very difficult to rate an intangible product like “SERVICE”

13. Healthcare Marketing
Healthcare marketing and advertising is complex, confusing and daunting

14. Healthcare Marketing - Objectives
Patient acquisition: How do I get more patients coming to my facilities?
Patient retention: How do I get my patients continuing to use my facilities?
Patient “winback”: How do I bring back patients who haven’t using my facilities for some period of time?
New Movers : How do I attract prospective patients in my facility’s footprint?

15. 6 Ways To Market Healthcare Organization
Professional Referral Marketing:
A reliable and continuing stream of inbound patient referrals from other medical or other professional sources is the lifeblood of many specialty providers
Internet Marketing:
From websites and social media tools, to patient portals and mobile apps, online marketing is a mainstream channel for marketing, advertising
Branding:
This is all about standing out from the crowd in a positive way, and it includes virtually everything you do. A powerful, differentiating brand for your healthcare business is part of your reputation.

16. 6 Ways To Market Healthcare Organization
Internal Marketing:
This heading includes all the ways and means that you communicate with people who already know you, primarily present and previous patients. Depending on the nature of your practice or situation, this influential audience can be a rich resource for referrals, additional services, testimonials and/or word-of-mouth advertising
External Marketing:
These are the media that reach prospective patients that don't know you. Advertising in newspapers, radio, television, billboards and the like target audience that needs to know that you provide an answer for their healthcare need
Public Relations:
This heading includes, among other things, planning and generating healthcare publicity and free press exposure, such as newspaper articles or broadcast interviews

17. The Marketing Environment
PEST analysis

18. PEST analysis
Political factors
Economic factors
Socio-cultural factors
Technological factors

19. Political/legal Monopolies legislation Environmental protection laws
Taxation policy
Employment laws
Government policy
Legislation

20. Economic Factors Inflation Employment Disposable income
Business cycles
Energy availability and cost

21. Sociocultural factors
Demographics
Distribution of income
Social mobility
Lifestyle changes
Consumerism
Levels of education

22. Technological New discoveries and innovations
Speed of technology transfer
Rates of obsolescence
Internet
Information technology

23. Pricing Strategies

24. Pricing Strategies Premium Pricing Penetration Pricing Economy Pricing
Uses a high price, but gives a good product/service exchange
Penetration Pricing
offers low price to gain market share - then increases price
Economy Pricing
placed at ‘no frills’, low price

25. Psychological Pricing
Price Skimming
where prices are high - usually during introduction
e.g new technology
ultimately prices will reduce to the ‘parity’
Psychological Pricing
to get a customer to respond on an emotional, rather than rational basis
.e.g Preventive Health Check Ups
Captive Product Pricing
products that complement others
e.g Angio(low p rice) and PTCA (high price)
Promotional pricing
e.g. PET Scan

26. Marketing Budgets
Determining the percentage of your budget that should be allocated to marketing depends on a number of factors:
How much are other similar practices spending, and how closely do you want to compete with them?
What is the profile of your ideal patient in terms of their income levels and what will it take to manage their expectations for a medical practice?
What are the best channels to use to reach your prospective patients, and the average ROI on these channels?
Finally, how much can you afford to spend and still realize the profit you need to make for the fiscal period?