Question

Healthcare has become an increasingly competitive market. Is competition good or bad for the healthcare industry? How has this competition impacted the delivery of healthcare to the patient? Please give examples.

Answer 1

It is true that the healthcare industry has become very competitive. This is because there are number of healthcare units and there are plenty of patients and all have different purchasing power and spending capacity. This is why the healthcare units want to attract more and more patients and hence indulged in various marketing and advertisement strategy.

Competition is always helpful for the patients. Because of the competition the healthcare wants to attract more and more customers. For that it are updating their technology, reducing prices and improving their healthcare services. And these are always beneficial for the patients.

These activities are very helpful in getting the positioning about the healthcare unit in the patient’s mind.

For overall healthcare industry competition is very beneficial. It will lower the rocket pricing of the treatment, increase technology and improve customer services. One more important benefit of the competition is that the patients will be divided to the various healthcare units because of the competition and due to this the healthcare professional will not have overtime work and they will be very productive in their job. They will be able to give more time to the patients.

Delivery of the healthcare services has been improved because of the competition. Because of the competitions the management of the healthcare units performs significantly better than those non competitive firms. The services have been increased, the behaviour of the staff toward the patients has been affected and the threat of wrong treatment has been reduced because of the competition.