HCM 2130 Final Exam

if you segment the market in a way based on heavy ER user vs light physicians office user you are using a __________ way of segmenting the market

usage

the ______ asks "how will we act with respect to all that we come into contact with either directly or indirectly"

values

the ______ asks "what does the organization want to do in the future"?

vision

__________ and _______ is what the organization Wants to do

vision and goals

The central concept of marketing is that of a _________ _________ of things of ______.

voluntary exchange; value

In many senses, marketing is inextricably linked with _________

strategy

if you segment the market in a way based on location you are using a __________ way of segmenting the market

geographic

high tech uncertainty and high market uncertainty is called

stepping-stones

with __________ ________ you have to look at things like: Age Group Disease/Illness Physician's patient Payor Mix

target markets

Intended strategies that are not realized

unrealized strategies

what does marketing address (5 things)

- an unfilled need or want - Something or someone who is willing and capable of satisfying that need or want with a product or service - Goods and services that can be valued or priced and made available to exchange now or in the future; - Channels for communicating about the exchange - A location, distribution network, or other mechanism to facilitate the transaction.

What Factors Affect the Growth of New Medical Technology

- consumer demand - income - health insurance - professionals - investment

market entry depends on what two things

- control - speed

what are the types of med tech

- diagnositc - survival illness management prevention system management

what is the sequential order of strategies

- directional - adaptive - market entry - competitive

what are mcgrath's and mcmillan's view of portfolio of real options

- enhancement - platform - scouting - positioning - stepping-stone

what three things do you look at for situation analysis?

- external environment - vision and goals - internal environment

Chief Technology Officer looks at this like ... Rather than an chief information officer who looks at...

- imaging - CT scans - CAT labs - computers

Porter's Five Forces Model includes what 6 forces and which was added by grove?

- industry competitors, rivalry among existing firms - potential entrants - buyers - substitutes - complements (added by grove) - suppliers

a mission statement has 3 main components which are

- mission - vision - values

what are the two reasons for a certificate of need

- when you want a new services/new tech - Anytime a provider wants to spend over 2 million $

____ out of ___ hospitals have a basic EHR system

3/4

this tech decision making process is a part of normal budgeting w/ each department determining needs/wants

Annual Review and Financial Planning Process

what is the historical way most hospitals have made medical technology decisions

Annual Review and Financial Planning Process

Acquisition of technology of hospitals needed approval

Certificate of Need

what are various ways to segment the market

Demographic (age gender race) Geographic (based on location) Psychographic (attitudes and values people may have) Usage (Heavy ER user vs light physicians office user) Cohort membership (teens, elderly, children etc.) Benefit to user

Quantifying Patient/Customer Target Markets is known as the _________ ________ ________

Epidemiological Planning Model

________ ________ is an externally oriented philosophy of managing an organization that links strategic thinking and analysis to organizational action.

strategic management

who monitors safety and efficacy of medical technologies

FDA

Who Monitors/Regulates Medical Technology? and what other two things are needed for liability and acquisition of med tech?

FDA PSRO--> PRO--> QIO JACHO tort law certificate of need

__________ requires hospitals to manage medical equipment risk and to maintain, test, and inspect equipment

JACHO

"Strategy is a theory of how to pursue competitive advantage." was said by ______ _____

Jay Barney

strategic marketing management involves what analyses

Market analysis Competitor analysis Customer analysis Capabilities analysis

when talking about the Epidemiological Planning Model _______ _____ _____ _________ is determined based on local standards of care (and often times the payors)

Mean Use per Incidence

Strategy Begins with a _______ _______ Leading to ______ ________

Mission Statement; Strategy Formulation

when talking about the Epidemiological Planning Model where do you find the incidence rate information?

National Center for Health Statistics and also the actuaries (Milliman) have this data

if you segment the market in a way based on attitudes and values you are using a __________ way of segmenting the market

Psychographic

mission statement provides the framework or context within which ________ are ________

strategies are formulated

who examines "medical necessity" of treatment of Medicare patients

PSRO--> PRO--> TEFRA --> QIO

"Every organization, whether a business or not, has a theory of the business." was said by ______ ______

Peter Drucker

{Demand for as Service} = {_________________} x {_______________} x {_______________________} x {______________}

Population at Risk Incidence Rate Mean Use per Incidence Market Share

______ _____-______ ______ looks at How Profitable An Industry Can Be

Porter's Five-Forces Model

buyers and suppliers have _______ _______

bargaining power

Strategic management is based on __________ __________ and _________ _________

Strategy Formulation and Strategy Implementation

an interdisciplinary standing committee approach to assure that technology purchases were compatible with mission and strategic plan; also, looked at effect on staffing, space, patient care, etc.

TEAM approach

what does TEAM stand for

Technology Evaluation and Acquisition Method

what are porters three generic strategies

focus overall cost leadership differentiation

"I'm only going to one thing" strategy

focus strategy

_________ __________ indicate the - method for carrying out the directional strategies (i.e. how the organization will expand [diversification, vertical integration, market development] - or contract [divestiture, liquidation] or maintain the status quo.

adaptive strategies

the more complements the ______

better

internal strengths and capabilities is ________ analysis

capabilities analysis

if you segment the market in a way based on teens, elderly, children etc. you are using a __________ way of segmenting the market

cohort membership

Jay Barney sees strategy as a theory of how to pursue _______ _________

competitive advantage

_________ ________ identify how aggressive or reactive an organization is in a market and delineate how the organization's products & services will be positioned

competitive strategies

number and size, market concentration, etc. is _______ analysis

competitor

________ level strategy asks the question "what business(es) should we be in?"

corporate level strategy

_______ ______ is when you establish a cost structure that allows the company to provide goods and services at lower unit costs than competitors (think efficiency)

cost leadership

needs and wants of potential customers, demographics, etc. is _______ analysis

customer analysis

"Strategy is a theory of how to pursue one's mission" was said by ______ ______

dave williams

intended strategies that are actually done and completed (realized)

deliberate strategies

if you segment the market in a way of age, gender, race, socioeconomic status you are using a __________ way of segmenting the market

demographic

A differentiator strives to _______ itself along as many __________ as possible

differentiate; dimensions

_______ is when you create a product that customers perceive as different or distinct in an important way

differentiation

________ _______ provide the general direction for the organization (MVV)

directional strategies

Realized strategies that were never intended

emergent strategies

low tech uncertainty and low market uncertainty is called

enhancement

________ _______ is What the organization Should do

external environtment

physicians in ________ ________ ______ reported the highest adoption rate of any EHR

in community health centers

what two things make up consumer demand?

income public awareness to new tech

a strategy you plan for or plan to occur

intended strategy

realized strategies are strategies that were _________ then became _________ and finally ______

intended; deliberate; realized

________ __________ is What the organization can do

internal environment

structure, maturity, geographic scope, etc. is ________ analysis

market analysis

______ ______ ________ indicate whether the adaptive strategy will be accomplished by buying into the market, cooperating with others or internal development.

market entry strategy

when talking about the Epidemiological Planning Model the ______ ______ is determined by providers based on current or expected percentage of future patients

market share

the planning, implementing, and evaluating of activities designed to bring about voluntary exchanges with people and other organizations in target markets for the purpose of achieving the mission and objectives established for an organization or system.

marketing definition

service (product), promotion, price, place, and target markets are all part of a thing called the ________ ______

marketing mix

"When strategy emerges spontaneously from the chaos of challenge and contradiction comes emergent strategies" was said by who

mintzberg

the ________ (_____) asks "why does the firm exist"?

mission (purpose)

a description or declaration of why a company is in operation

mission statement

Dave Williams sees strategy as a theory of how to pursue _____ _________

one's mission

There is a need to align market segmentation with __________ ________

organizational structure

theory of business is who

peter drucker

with __________ you have to look at things like: Location Time Transportation to site Bilingual staff Alternative sites Mobile Units

place

medium tech uncertainty and medium market uncertainty is called

platform

high tech uncertainty and medium market uncertainty is called

positioning

with __________ you have to look at things like: Charges/Rate Bundled Prices Co-payments Third-party Payors

price

________ ______ ______ reported highest rates for adoption for any ER

primary care physicians

with __________ you have to look at things like: Advertising Discounts Rebates

promotion

what are three main dimensions of different differentiation strategies

quality innovation responsiveness to customers needs

___________ equipment is more expensive than _________ it

releasing (leasing); buying it

medium tech uncertainty and high market uncertainty is called

scouting

with __________ (___________) you have to look at things like: The care given/received Interpersonal relationship Aesthetics and comfort of facilities Quality

service (product)

Marketing process is both __________ and __________ to strategy formulation.

simultaneous and sequential

_______ practitioners had the lowest rates of adoption for any EHR

solo

when talking about the Epidemiological Planning Model where do you find the population at risk information?

the county's or MSA's population gotten from Census Bureau

Every organization, whether a business or not, has a ________ of the ________.

theory of the business

substitutes and potential entrants are seen as a ______

threat

what says that HSOs are in part responsible for liability associated with technology

tort law

the more substitutes the ______

worse