Pricing in health care organizations. A key component of the marketing mix.
Pricing is one of the key components of a successful marketing mix. Pricing objectives, strategies, and tactics cannot stand alone, however. To be effective, price must work in harmony with other marketing and management activities. Despite its importance, use of pricing as a management tool is limited in health care compared to other industries. Many factors contribute to this situation, including the structure of the health-care exchange process, limited consumer knowledge, and a limited ability to measure costs. I will provide an overview of pricing information, both within and outside health care. Specifically, we will explore the definition of pricing, nonmonetary pricing, price elasticity, classical pricing theory, and the role of pricing in a health-care setting.
D005249:Fees and Charges / Q000706:statistics & numerical data*; D006296:Health Services / Q000191:economics*; D008389:Marketing of Health Services / Q000379:methods*; D015233:Models, Statistical; D011907:Rate Setting and Review / Q000379:methods*; D014481:United States