Health Care

Exercise Content

READ THE INSTRUCTIONS CAREFULLY AND FOLLOW THEM:

Watch the short video –

https://www.youtube.com/watch?v=wOwept5WlWM

Then research the topic of Big Data & Analytics for Healthcare specifically.

Write a minimum one page explaining how it works and also if in your opinion it is Ethical or not.

2 After reading Chapter 6 answer the following question:
Book Essentials of Health care Marketing fourth edition by berkowitz

Bethesda Hospital recently has developed an occupational medicine program. It wants to target employers in the Baltimore metropolitan area. The director of the program has a range of services within this program including toxicology assessment, education around issues such as preventing back injuries and stress management, and providing medical treatment at factories, should it be desired.

Suggest three alternative ways the customer base for this new service could be segmented, and indicate how each base of segmentation would result in a change in the marketing mix.

ANSWER

Technological Advancements in Healthcare

Technological advancements have improved the modes of operations in various sectors across the world. One of the critical sectors that have benefitted from technological advances in the healthcare sector. Data, information, and healthcare services have been improved substantially due to the subject’s advancements. Big data analytics in healthcare is described as the readily available large volumes of information developed by adopting up-to-date technologies that gather patient records and enhance the general management of the healthcare sector. In addition, big data analytics has been used to eradicate the traditional ways of offering services in healthcare.

Several hospitals worldwide have adopted big data analytics, thereby enabling them to connect with their respective patients on a 24-hour basis without necessarily having to book for a doctor’s appointment. The subject of technological advancement has proved to be pivotal, thus enhancing the growth of various healthcare practices and research. Big data analytics has offered tools and equipment to gather, manage, analyze and change significant volumes of unstructured data within the current healthcare systems, (Galetsi, Katsaliaki & Kumar, 2019). Patients can be now be monitored electronically through wellness programs such as the BestFit Wellness program. The subject programs enable patients to gradually monitor their recovery process; doctors and other medical specialists can remotely advise their patients. It is also advantageous to the patients since it saves them transport expenses from frequent visits. The subject programs also advise them on their recommended diets and exercise programs irrespective of their locations. Big data analytics in healthcare is indeed ethical since it has helped transform and improve service provision. It has also ensured all the required information is readily available within the touch of a button; it has helped improve patient-doctor relationships and contribute significantly to the green economy, (Kumar & Singh, 2018).

Market segmentation or customer base segmentation is described as grouping a target market into smaller and more elaborate portions, thereby enabling the business owner to implement intense market research of the customers. In this context, the customer base segmentation can be done through behavioral, psychographic, and geographic segmentation. Behavioral segmentation focuses on a customer’s purchasing habits; behavior patterns and customer loyalty are key factors. Bethesda Hospital, in this case, will have to dig down on their customer’s ability and readiness to buy their product, advantages of the product, and the common characteristics. The marketing matrix, in this case, will be focused on determining future customer leads, thus capable of knowing their potential customers. Psychographic segmentation emphasizes the inner qualitative characters of the customer. Values such as habits, lifestyle, social status, and opinions are critical determinants in this segmentation. In this case, the subject hospital will focus its marketing matrix on developing its brand personality, thus depicting the traits portrayed by the product.

Finally, the third segmentation is the geographic segmentation which focuses on the physical location of the intended customer base. In most cases, consumers within the same locality do share the same preferences. Therefore, the subject hospital can decide to sell to a particular city, state, zip code, neighborhood, or economic status. The marketing matrix, in this case, will focus on factories within a given locality due to their ability to share the same preferences. For the segmentations mentioned above, the marketing matrix will vary significantly due to their distinct customer base traits. Depending on the range of services offered by the program, the marketing matrix will vary in each segmentation base. Adopting technological means of marketing and advertising will play critical roles in getting the attention of the targeted markets/customer, (Yang et al., 2016).

References

Galetsi, P., Katsaliaki, K., & Kumar, S. (2019). Values, challenges and future directions of big data analytics in healthcare: A systematic review. Social science & medicine, 241, 112533.

Kumar, S., & Singh, M. (2018). Big data analytics for healthcare industry: impact, applications, and tools. Big Data Mining and Analytics, 2(1), 48-57.

Manogaran, G., Lopez, D., Thota, C., Abbas, K. M., Pyne, S., & Sundarasekar, R. (2017). Big data analytics in healthcare Internet of Things. In Innovative healthcare systems for the 21st century (pp. 263-284). Springer, Cham.

Yang, J., Liu, C., Teng, M., Liao, M., & Xiong, H. (2016, December). Buyer targeting optimization: A unified customer segmentation perspective. In 2016 IEEE International Conference on Big Data (Big Data) (pp. 1262-1271). IEEE.