The Marketing Mix: Medical Insurance
* The Marketing Mix * University of Phoenix * Marketing
Made 8/8 Points
The Marketing Mix . To become a successful business or company, successful marketing is required in order to remain in business. In order to have a strategic plan, a marketing mix is needed. . Perrault, Cannon and McCarty define marketing mix, “the controllable variables the company puts together to satisfy this target group (2012).” The marketing mix is an item that is created to have the customer as the focus of the mix since the customer is the most important item to a business as they will either create a profit or loss. In a business type that there are many competitors, how does one company stand out? This is the question that businesses spend …show more content…
Most companies can work together to make insurance simpler for a customer. The medical insurance is handled under one of the Blue Cross Blue Shield Plans; dental insurance can be handled by Dental Network of America. Prime Therapeutics is a pharmacy benefit manager while Dearborn National underwrites and market group, life, disability, dental, worksite and voluntary life insurances. And to allow provider to submit their claims via an internet exchange service, Availity will handle that operation. To prevent additional charges or fee for different companies all these type of insurance, one company is able to offer all the services to employers and individual …show more content…
Due to the company being a consumer-owned health company, they do not have to increase prices for investors or shareholders. The company has even been known terminate provider’s contracts due to companies threatening to increase healthcare cost. In June 2013, Memorial Hermann Health System threatens to end their contract if their profits were not increased. This demand would cause the company’s customers to have additional premium increased which HCSC responded by informing customers that there were other facilities and medical groups in the Houston area that would remain contracting and provide services to their customers. Because of this response, Memorial Hermann decided to continue their agreement with HCSC and prevent the loss of millions of patients they see every
Made 8/8 Points
The Marketing Mix . To become a successful business or company, successful marketing is required in order to remain in business. In order to have a strategic plan, a marketing mix is needed. . Perrault, Cannon and McCarty define marketing mix, “the controllable variables the company puts together to satisfy this target group (2012).” The marketing mix is an item that is created to have the customer as the focus of the mix since the customer is the most important item to a business as they will either create a profit or loss. In a business type that there are many competitors, how does one company stand out? This is the question that businesses spend …show more content…
Most companies can work together to make insurance simpler for a customer. The medical insurance is handled under one of the Blue Cross Blue Shield Plans; dental insurance can be handled by Dental Network of America. Prime Therapeutics is a pharmacy benefit manager while Dearborn National underwrites and market group, life, disability, dental, worksite and voluntary life insurances. And to allow provider to submit their claims via an internet exchange service, Availity will handle that operation. To prevent additional charges or fee for different companies all these type of insurance, one company is able to offer all the services to employers and individual …show more content…
Due to the company being a consumer-owned health company, they do not have to increase prices for investors or shareholders. The company has even been known terminate provider’s contracts due to companies threatening to increase healthcare cost. In June 2013, Memorial Hermann Health System threatens to end their contract if their profits were not increased. This demand would cause the company’s customers to have additional premium increased which HCSC responded by informing customers that there were other facilities and medical groups in the Houston area that would remain contracting and provide services to their customers. Because of this response, Memorial Hermann decided to continue their agreement with HCSC and prevent the loss of millions of patients they see every