Sunday, February 16, 2014

An Important Healthcare Market Research Analysis

By Eula Nichols


The current health polices gives more emphasis on the use of the mechanism of private sectors to pursue the goals of public settings. As such, healthcare market research professionals must assume the responsibility of developing a stronger framework, which will help with efficient studies of health institutions and organizations. The key target is that organizational competition acts, not only as a target to outdo other service providers but also in terms of service supply and distribution.

It is important to note that most policymakers will always rely on the incentives of private institutions to realize the goals of the public sectors. This makes the analysis and understanding of market mechanism an important aspect within all the matters that surround the health care institutions and the people involved. Most of the analysis in this case, therefore, focus on inferential matters, collection methods, sampling frames and econometric estimators.

Many professionals who are dealing with this logic are currently taking their time to put more attention on empirical resources. However, two common, yet very important questions these professionals should give attention too always crop up. The questions involve identifying which matters are technical based and those that are conceptual based.

The technical questions tend to give more focus on discrete treatment and quantitative analysis. This is an area of focus, which has grown to capture the attention of many professionals. Essentially, they are the main area of focus of most day-to-day work of a health care establishment.

It is important to note that what actually put more efforts on the structure of a particular market place is the typical analytic questions about health care standings. It is however not easy to know this until after assessing the performance of firms individually and in aggregate. Here, you try to analyze the issues of cost, quality, price and profit to the organization. This approach is great because it gives direct answers to direct and easy questions.

Researches should try to explain to people who have an interest in understanding the structure of a marketplace that the market can never be exogenous. Instead, the structure of a particular market is based on the results of the decision that a firm is likely to make.As such, some incumbents could merge, go through splits and some end up bankrupt. In addition, firms may come into the marketplace and begin selling substitute goods and sole traders can take the chance to set up their own firms.

The nature of the company that deals with the provision of health services can at times be indigenous. This means that a particular firm in an industry can put its focus on vertical integration, horizontal mergers, chain ownership, product diversification and or the distribution of franchise. This is not an easy decision to make, as it will require the contribution of both existing and potential competitors in the market place.

One of the most important areas where healthcare market research professionals have to put more of their efforts and show a lot of concern is changes in organizational ownership, placement and boundaries. They should not put more focus on issues like prices, cost, quality and profit, as this would mean that they are merely looking into the structure of the organizations as given.




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