Keeping the medical practice financially viable: a marketer's approach.
This paper explores a way that medical practices might develop a higher margin revenue source by offering a differentiated service that caters to patients who value more personalized service. Using SERVQUAL, German patients were surveyed to determine if there is a relationship between a desire for personalized service and a willingness to pay a premium for medical care. The results indicate that a greater desire for personalized care distinguishes those who pay a premium for medical care from those who do not. This suggests that medical practices can differentiate their service based on more personalized care and charge a higher fee for this service.
Patrick
Michelle L
ML
Department of Management and Accountancy, University of North Carolina at Asheville, 28804, USA. mpatrick@unca.edu
Capraro
Anthony J
AJ
Credito
Candace M
CM
D017598:Efficiency, Organizational; D005251:Fees, Medical; D005382:Financing, Personal; D005858:Germany; D006302:Health Services Research; D006801:Humans; D007182:Income; D008389:Marketing of Health Services / Q000379:methods*; D010342:Patient Acceptance of Health Care; D010548:Personal Health Services / Q000191:economics; D011216:Practice Management, Medical / Q000191:economics* / Q000458:organization & administration