Over the past decade or more, healthcare needs have been drastically changing especially with the increasing medical costs as well as chronic illnesses. Additionally, more and more consumers are becoming tech savvy. In this electronic age, where technological advancement in terms of providing healthcare is almost become a necessity. In order to provide quality healthcare, the board of directors at Pocahontas Memorial Hospital (PMH), which a rural hospital as well as a nursing home, is interested in implementing a satellite clinic as an innovative solution (CSU, 2015). However, it might be quite challenging to attain this business model among rural clinics, which usually are dealing with issues, such as limited funds and working staff. To overcome this barrier it will be essential for PMH to conduct a market analysis for efficient results (CSU, 2015).
Importance of Market Analysis …show more content…
Additionally, since it is such a small county, often times PMH has faced challenges, such as financial problems, high turn over rate of its physicians, technological demands, and competition from the surrounding hospitals (Pocahontas Memorial Hospital, n.d.a). Under such challenging circumstances, it is important to conduct market analysis for PMH in order to create effective
Importance of Market Analysis …show more content…
Additionally, since it is such a small county, often times PMH has faced challenges, such as financial problems, high turn over rate of its physicians, technological demands, and competition from the surrounding hospitals (Pocahontas Memorial Hospital, n.d.a). Under such challenging circumstances, it is important to conduct market analysis for PMH in order to create effective