Consumer‐Perceived Value: The Key to a Successful Business Strategy in the Healthcare Marketplace

The Medicare market is becoming increasingly competitive and uncertain. To compete successfully for a share of the Medicare market, providers must: Have a cogent strategy that defines their customers and the value proposition for those customers Design their services to maximize the benefits of outcomes and service process that are important to consumers Determine the needed structure and infrastructure to put those services in place Marketing research is critical in this regard, as is effectiveness tracking. This approach is different from that usually taken by healthcare providers in the marketplace. It means being strategic rather than tactical and proactive rather than reactive. Most importantly, providers must shift their focus externally to the consumer's needs rather than their own. Finally, this approach requires working together in an integrated organization with common goals.