December 14, 2012
Marketing Analysis: Mayo Clinic
Mayo Clinic: is in the business of providing patient care through their many different Clinics and hospitals. They are ranked number two as one of the top twenty hospitals for heart and heart surgery per the Forbes list of top hospitals, and they ranked seventy one out of one hundred in the top one hundred places to work (Forbes, 2012). The Mayo Clinics are a not-for-profit hospital and teaching center that is renown throughout the world. They became known as the hospital that treats the diseases no other facility or physician want to treat. They have over thirty eight hundred physicians and scientist as well as over fifty thousand Allied health care workers on their payroll. They also have thirty six hundred medical residents, fellows and students through their medical schools. Their slogan is “We strive to turn the impossible into the possible” (Mayo Clinic Annual Report, 2011). “The Mayo Clinic cared for more than one million patients at its campuses in Minnesota, Florida, Arizona and Mayo Clinic Health System, a network of clinics, hospitals and health care facilities serving more than seventy communities in Minnesota, Iowa and Wisconsin” (Mayo Clinic Annual Report, 2011, pg.37, para4). From their beginning in 1863, William Worrall Mayo insisted on standards that would be considered innovative for the time. And as the demand for their services increased, they formed a team of doctors and researchers and became “the first private integrated group practice.” Initially this practice of teamwork among doctors was viewed as unconventional, but soon patients realized the advantages of the pooled resources, having doctors and scientist under the same roof with knowledge and skills, patients and student came from around the world to learn and be treated (Dickson, 2012).
Mayo Clinic over one hundred years ago made it clear through its mission and vision that the patients’ interests would not be served well if doctors were competing with each other. William Mayo emphasized that making a commitment to the patient; doctors must make a commitment to each other: “Continuing interest by every member of the staff in the professional progress of every other member,” would be vital to nourishing the organization’s future. Patients are the Mayo Clinic’s first priority and they do not base care on a patient’s ability to pay. Most of the staff is not even aware of a patient’s status, which allows them to give the patients the best care possible without having to worry about being paid (Mayo Clinic, nd). The Mayo Clinic has some fierce competition, such as Johns Hopkins Hospital. Johns Hopkins is an institution with a mission to” improve the health of our community and the world by setting the standard of excellence in patient care.” They also advertise with commercials on television, radio, and in the newspaper. They have internet Social media marketing in place and through their multi-media relations staff, they are able to pierce the market of patients within the United States and abroad. (Johns Hopkins Hospital, nd). The services they offer are comparable to The Mayo Clinic and both are rated in the top 25 best hospitals to work for by HealthExecNews.com. However, Johns Hopkins did not make the top 100 list for Forbes. The four “P’s” (Product, Place, Price, Promotion)
Brand - Mayo Clinic; the name alone is known as a leader in the medical field for their dedicated physicians, scientists and allied health staff that work together as a team to put the needs of the patient first, known as “The Mayo Effect.” There are three main hospitals and several clinics that offer medical treatments and services as well as training, residencies and fellows for medical professions (Mayo Annual Report, 2011). Product features – Patient satisfaction and quality care given to patients are some of the main reasons...