Market Positioning
- Market-factored
- Bench-marking
- Reflects brand strength
- New revenue growth opportunities
- Reflects competitor changes
Market-factored
Today’s health care has new technologies, new ways of delivering services, and lots of new disruptors. Optimum market positioning becomes linear when you have a market-factored analysis anchored by bench-marking.
Our comprehensive analysis of your hospital market will include a detailed competitor analysis of IP and OP charges. This will confirm current market positioning and address both relative physician alignment and service line brand strength. This includes identifying emerging strong service lines.
Are you a mid-range priced provider seeking to capitalize on your hospital’s growing brand strength in select service lines? Has your nearest competitor affiliated with a large system and you need to adjust your market positioning?
Do you already dominate your market and want to make sure you do not leave any net revenue on the table?
Market Positioning is a key component of the New Strategic Pricing because it gives you the ability to measure change and adjust both tactically and strategically.
Bench-marking
Bench-marking is an essential tool in generating a useful Market Positioning analysis. We create a comparative that identifies competitor strengths as well as new opportunities to grow select service line net revenue. This includes a cross-walk to align your hospital’s strategic goals for pricing and marketing as they change. (see our Strategic Advisory)
Bench-marking ensures an accurate comparative analysis.
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Brand strength
We use data to determine current brand strength by service line and department, including service lines that are growing in brand strength. This data analysis takes into consideration recent physician recruiting, planned retirements and other staffing changes, and planned recruiting for the near-term.
Brand strength reflects hospital provider, department, and individual physician reputation. Patient outcomes, health grades, the effectiveness of your patient engagement strategy and protocols, and social media coinnections determine both brand strength and market reach.
New revenue opportunity
Our detailed analysis identifies targets of opportunity in select service lines consistent with physician alignment and market change. This fits nicely with a new branding, marketing, and communication campaign to grow net dollars in designated service lines by leveraging patient loyalty and extending market reach to increase market share.
Competitor change
We measure the relative brand strength of competitor hospitals to determine their market positioning, including change in the past year. This ensures you have the information you need to make an informed decision about your hospital’s optimum positioning.