Evolution of Healthcare Marketing Industry
Healthcare marketing has evolved over the past thirty years with notable changes in the healthcare sector. A clear understanding of roller-coaster experiences with the application of market forces involving health care for the last thirty years gives a vital context for the future developments in the healthcare field. It has become clear that health sector operates in two key industries including healthcare as well as integrated communication requiring keen attention to the steady changes in attempts to effectively as well as consistently transfer information to the target audiences. Changes in marketing of healthcare have been notable due to technological innovations that are itroduced on a daily basis. There has been notable increase in interest in terms of custom content. This has been evidenced by creation, marketing as well as development of audiences through media (See et.al 337). Most importantly, health technological firms are striving to acquire experts that will attract new clients. The biggest changes that have been witnessed over the past thirty years in healthcare marketing include the intensive application of IT solutions (Ginsburg and Lesser 1007). Five years ago, healthcare professionals saw it as a norm to provide products for every task that was done in a health business office. One product was being sold for claim submission while other was sold for claim tracking and another for reworking of denials. The focus is now proven to be a whole revenue cycle. It should indicated that with consistent changes in technology, the industry of healthcare marketing will continue to have significant impact on the population worldwide.
Fundamentally, all that has happened across the healthcare marketing industry is a result of influence of vital use of process under HITECH ACT as well as the influence of Affordable Care Act and transition to a new system of ICD-10. In this case, nearly everything that hospitals, health care leaders, and medical groups are searching for is important utilization or reforms in healthcare through transition (Nichols et.al 20). Therefore, healthcare marketers associated with the IT vendors require figuring out the way their products fit the same scenario. They will also need to consider the way they will be able to meet real and urgent needs in healthcare reform through ICD transition (Ginsburg and Lesser 1010). Thus has been notable progress over the last few years where the marketers in healthcare industry have taken another route of providing healthcare products through integration of IT solutions in order to meet the broadest sense and use of transitions. Moreover, the recent trends in healthcare marketing industry have rigid implications for healthcare organizations, clinicians as well as policymakers. The diversity of sponsors of healthcare services along with their roles pose major challenges to hospitals in terms of training, professional identity, and education (See et.al 339). The ever-increasing demand for hospital professionals and new conditions for practice indicate that hospitalists to be enrolled will have opportunities despite the fact that they will require more training. Such training has been focused on critical care medicine that is beyond the exposure of typical internal medicine as compared to the past periods. Most importantly, an earlier study done on perceptions of hospitalist marketers indicated that even the recently trained personnel perceive their education to be inadequate in critical areas relative to responsibilities granted to them in the marketing sector. All these changes can be associated with the technology that requires continuous training of personnel since it incorporates vivid advancements that they should be updated with.
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The future of healthcare marketing will be characterized by notable changes since the technology is not stopping to advance. Advancement in technology will determine the shape of healthcare marketing. Complex topic of marketing will emerge and require deep strategic engagement through educational webinars, live events, and white papers (Grossman and Ginsburg 92). This will also create a clear opportunity for commodified solutions in order to be able to exploit effective branding opportunities including print and premium space that will effectively convey market leadership. In the future, solutions being marketed primarily in the recent periods will be expanded in order to include several other influence entities. For instance, payers are being noted to come to the health professional marketers soliciting for help in order to drive utilization of things including eligibility verification. These payers are requesting the marketers to market their health products directly on their behalf. This expansion can be considered as a win-win situation for all healthcare marketing firms. It has also become evident that the market is evolving with healthcare sectors requesting marketers to transfer information directly to the clients in order to invite them for medical solutions. Potential developments in healthcare market are also expected in the future with increasing competition withing the sector. Financial incentives for clients will become even more vital (Nichols et.al 21). However, refinements to benefit structure including substantial patient expense sharing will acquire increased attention. In this case, much emphasis is likely to be granted to choose efficient providers despite the fact that this might be constrained by the lower development rate of reliable information. Moreover, the direction for refinement can involve reduction of cost sharing including standard treatment regimens in chronic illnesses and hiking of cost sharing for processes that are termed as more elective (Grossman and Ginsburg 94). As much as more challenges are expected in the future, healthcare marketing sector will make great improvements in terms of the continuous technological advancements.
In conclusion, the past thirty years have been the years of transition from one level to another for healthcare marketers. They have experienced changes in technology that have forced them to make major alterations that have been proved effective thus improving the healthcare sector. These changes have ranged from changes in marketing procedures and structure. There have been direct contacts between healthcare marketers and hospitalists. The future is expected to be characterized of more developments hence the need to be prepared to face challenging situations.
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