Successful marketing plans for new products more important than ever.
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Biomedical subjects
Publications and source records attributed to T L Louden.
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Home healthcare is undergoing significant evolution as it matures as an industry segment. As different types of providers are attracted to home care, home care product companies are finding their customer bases dividing in two--traditional referral customers and a new type of customer, those looking for joint ventures and contracts.
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Proponents of high tech home care cite its significant cost savings compared to similar therapies provided in an inpatient setting. Further proof of its cost effectiveness may, indeed, provide support for more attractive reimbursement coverage in the future and greater use of such therapies. However, at the present time, existing and prospective providers should proceed cautiously given the potential reimbursement pitfalls and increased competition. Hospitals, in particular, are increasingly interested in participating in this market, either through providing all aspects of the program or only parts. As such, agencies may find them either to be competitors or affiliated partners in providing high tech home care. Agencies have a variety of choices to make regarding high tech home care: provide specialized nursing care, provide equipment/supplies, handle billing, or handle it all. Whatever the approach, it is critical to understand the reimbursement aspects and target marketing efforts to hospitals, high tech product companies. HMOs, and perhaps most important, physicians.
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This article provides a framework for trustees to evaluate the impacts of an aging population and analyze opportunities for their hospitals to serve the needs of the elderly market. It focuses on identifying and analyzing the many aging-related market opportunities available to hospitals, and it describes a process for developing diversification strategies in aging-related products/services.
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