BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report
Phillip March 12, 2024 No Comments

BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report

BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report

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Capella university

BUS-FPX4124 Health Care Marketing and Strategic Planning

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Date

Introduction

AxessPointe Community Health Center (API) is a Federally Qualified Health Center (FQHC) catering to Summit and Portage counties in Northeast Ohio, offering a range of medical, dental, behavioral health, and pharmacy services (API, 2021). Despite serving diverse payer groups, including Medicaid, Self-Pay, and commercial payers, API’s Medicare population comprises only about 16% of its payer mix (API, 2021). Notably, in Summit County, where most of API’s locations are situated, the 65 and over demographic constitutes approximately 21% of the population (U.S. Census Bureau, 2020), presenting an opportunity to target a sizable patient base lacking adequate healthcare access.

Financial Assistance Strategy

FQHCs like AxessPointe aim to serve underserved, underinsured, and poverty-stricken populations. Given that 23.5% of Akron’s population falls below the poverty line (U.S. Census Bureau, 2020), API’s provision of financial assistance becomes pivotal in its marketing strategy. Through initiatives such as the Sliding Fee Scale (SFS), API extends financial aid to Medicare-eligible individuals, even those with existing health insurance, thereby striving to attract more Medicare beneficiaries.

Specialized Medicare Services

To further appeal to the Medicare population, API plans to emphasize Medicare-specific services such as Initial Preventive Physical Examinations (IPPE) and Annual Wellness Visits (AWV). By catering to the distinct healthcare needs of this demographic, API seeks to differentiate itself and enhance its appeal among seniors seeking comprehensive care options.

Competitive Landscape

Oak Street Health, a prominent competitor in the Akron area, specializes in providing care to Medicare patients with a focus on preventative healthcare (Oak Street Health, 2021). With services designed to address seniors’ holistic needs, including community engagement initiatives and specialized healthcare programs, Oak Street Health presents stiff competition to API. Notably, Oak Street’s emphasis on expertise in senior care resonates well with the aging population, bolstering its market position.

BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report

Utilization Strategies

Oak Street Health’s success lies in its adept utilization of market demand. By recognizing the pivotal role of family members in seniors’ care, Oak Street has introduced Patient Relation Managers to assist patients with various aspects of their healthcare journey (Oak Street Health, 2021). This proactive approach aligns with the evolving needs of seniors and contributes to Oak Street’s reputation for patient-centric care.

Conclusion

Healthcare organizations must continually assess and understand the dynamics of their market to effectively meet community needs and deliver quality care. By aligning strategies with demographic, geographic, and socioeconomic factors, healthcare providers like API can enhance their relevance and efficacy in delivering quality healthcare services and achieving positive outcomes for their target populations.

References

API. (2021, July 27). Community Health Center Akron, Barberton, Medicaid Health Clinic. Axesspointe Community Health Centers. https://axesspointe.org/

Oak Street Health. (2021, June 29). About us. https://www.oakstreethealth.com/about-us?utm_source=google&gclid=Cj0KCQjwnoqLBhD4ARIsAL5JedJZsWjG1W8UlERKJJJnUzKDWzxO7HX5lAoLeB8xFgudU7AQL9hI9YaAk_GEALw_wcB

U.S. Census Bureau. (2020). Explore Census Data. United States Census Bureau. https://data.census.gov/cedsci/table?q=Akron,Ohio&tid=DECENNIALPL2020.P1

BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report