"we don't complete we Collaborate
HEALTHCARE is NOT a BUSINESS!"
More than a decade ago, I was leading a workshop for Healthcare professionals at a local hospital. Though the group was polite they looked bored, so I questioned a few of the participants about the competitive evaluations required for a business to be successful. The individuals said though the material was well presented and interesting it was NOT RELEVENT to Healthcare. The reasons were WE ARE A BUSINESS and WE DON'T COMPETE WE COLLABORATE". I was not surprised but disappointed that these professions believed that healthcare was not a business and had no competitors"
In the decade, both of these comments have been proven wrong and helps to explain why healthcare costs are out of control.
- New and different types of competition exist. First of all there are large numbers of mergers, joint ventures and a willingness to invade other locations. The GIANT BRAND NAME organizations like Sloane Kettering, Johns Hopkins, Mayo Institute, Cleveland Clinic and other regional players are taking over the smaller, less know providers and expanding to all specialties.
- ONE STOP SHOPPING is now the theme. Interesting but this happened in 1970-90 period when many giant retailers and technology giants tried this strategy and FAILED.
In addition there are now many smaller franchises and groups that are tragetting the "emergency care and walk-in clinic markets, as well as retailers like WalMart, Target who offer this type of service in their stores. Some even offering IN-HOME calls and setting up "Televisit" Operations.
Amazon, Berkshire Hathaway and Citi Bank have formed a partnership to provide healthcare to companies, starting with their own.
The message is loud and clear, Healthcare and Wellness are businesses and have an increasing number of non-traditional players and also are consolidating.
Learn more about how to do Competitive Analyses and improve your competitive strategies by reading "How to Gain and Maintain a Competitive Advantage". It is available email us.
NEXT TAB IS ABOUT TECHNOLOGY CHANGES!