Question

Examine the healthcare offerings of your local marketplace and work to identify red oceans and potential blue oceans. This will require achieving a deep understanding of red and blue oceans, coupled with an intensive understanding of the selected market. Research beyond that supplied by your readings, notably including field research, will be most helpful in this endeavor.

This assignment must be between 1500 and 1800 words, include 4-10 references (3 being from scholarly academic journals),APA style only. Supply the following sections, exactly as they appear below, placing each heading in bold text:
Introduction
Red Oceans
Blue Oceans
Conclusions
References

Answer 1

Helthcare industry has undergone a drastic change in the recent period. Most of the hospitals are going for Red ocean strategy,wherein the players try to outperform the competitors.This is called as Red Ocean strategy. On the other hand, in blue ocean strategy, the market is not highly competitive. The players offer the value addition to their activities and thus attract the customers.

Red Ocean Strategy : Healthcare Industry has become highly competitive in today's scenario.Today the hospitals are focusing more on rising costs and the service delivery has gone down considerably. The focus of hospitals is not on providing satisfactory services to the patients but on generating more and more revenue. Once the patient is admitted to the hospitals,he is bombarded with list of diagnostic tests and high amount of rising bills. Thus the patients become quite restless,where a basic level of treatment incurs high level of expenditure and there is no satisfaction amongst the patients.

Blue Ocean Strategy : On the other hand,Blue Ocean focuses on value addition given to the patients.The market is not highly competitive as each player focuses on adding some value to their treatment and thus generate higher level of satisfaction. For instance,in US healthcare industry, after the discharge of the patient, if he is readmitted within the same days, the hospital is not paid. Thus the hospitals take utmost care in offering the best services to the patients. Transcatherer Aortic Valve Replacement (TAVR) is one such treatment offered by certain hospitals, wherein instead of open heart surgery for replacing a heart valve, TAVR procedure involves putting a new valve in the capsule. This then goes to the femoral artery in the leg and then to the heart valve. Thus by such treatment patients who are at high risk or too sick for open heart surgey can be treated. This is a value addition done by the hospitals. Robotics technique in various treatment is one such initiative wherein the hospitals can take a lead and add value to their treatment as the treatment would be more precise and correct.

Conclusion : Thus the todays market demand Blue Ocean strategy wherein the hospitals add value addition to their treatment and hospitals would be successful in the long run.

• References : Why healthcare strategy needs a Rethink? Available at : https://www.blueoceanstrategy.com/blog/blue-ocean-health/
• How can Healthcare marketing become a Blue Ocean Strategy Available at : healthcaremarketingmatters.blogspot.com/2014/01/how-can-healthcare-marketing-become.html
• Diving into a Blue Ocean strategy Available at : https://www.behavioral.net/article/diving-blue-ocean-strategy