Financial and Ethical Impact Analysis: East Chestnut Regional Health System (ECRHS)
Assessment Details
Throughout this course you will analyze Case Study: East Chestnut Regional Health System (ECRHS).
Financial and Ethical Impact Analysis Summary
Review Case Study: East Chestnut Regional Health System.
Assume East Chestnut Regional Health upper management has asked you to analyze its current marketing strategies from both ethical and financial perspectives.
Use the Case Study Review Guide as a tool to help you complete your analysis.
Create a 1,050-word Financial and Ethical Impact Analysis for ECRHS’s current health care marketing strategy for upper management, based on the above factors.
Include a summary of each section in your analysis:
Mission and objectives
Organizational structure and culture
Current marketing strategies
Current financial analysis
Competitive advantage
Current value chain
Current target market
External environmental factors
Cite at least 3 reputable references to support your assignment (e.g., trade or industry publications, government or agency sites, scholarly works, or other sources of similar quality).
Case Study Review Guide
As part of your analysis of the East Chestnut Regional Health Case Study, you decide to review the following elements of the organization from the perspective of their ethical and financial impact on the organization’s health care marketing strategies:
Mission and objectives:
• What is the organization’s vision?
• What is its mission?
• What are its values?
• What are its strategic objectives?
Organizational structure and culture:
• How does the organization’s structure impact its success?
• How would you characterize the organization’s culture?
Current marketing strategies:
• What are the organization’s current products and services?
• How are they priced?
• How are they delivered to consumers?
• How are they currently promoting their products and services?
Current financial analysis:
• What currently makes the organization profitable? What is its current profit margin?
• How large is the market for the organization’s current products and services? Is it expanding or contracting? What share of the market does the organization currently hold?
• How do physical and technological resources impact its profitability?
Competitive Advantage:
• What competitive advantage does the organization currently have?
• How does it differentiate itself in the market?
Current value chain analysis:
• What are the key elements of your organization’s value chain?
• How does each element in the value chain help the organization succeed?
• Which factors must be taken into consideration when analyzing the organization’s value chain?
• How does the organization build value within the market?
Current target market:
• Who is the organization’s current target market?
• What are the demographics, such as age, income level, and ethnicity, of current consumers?
• What are current consumers' values, attitudes, and lifestyles?
External Environmental Factors:
• Political
• Economic
• Sociocultural
• Technological
• Competitive
• Legal/regulatory
East Chestnut Regional Health System (ECRHS)
Author's Name
The Institutional Affiliation
Course Number and Name
Instructor Name
Assignment Due Date
Introduction
This study looks at the marketing of healthcare services from both an ethical and a financial point of view, and the East Chestnut Regional Health System (ECRHS) serves as the primary research subject for this investigation (Safried et al., 2021). This analysis examines a variety of factors, including mission and objectives, organizational structure and culture, current marketing strategies, financial analysis, competitive advantage, value chain, target market, and external environmental factors, to assist upper management in having a comprehensive understanding of the effects of their marketing strategy.
Mission and Objectives
Through delivering superior care to patients and investigating novel approaches to managing healthcare facilities, the Eastern Carolina Rural Health System's (ECRHS) central mission is to position itself as the leading provider of medical services in the surrounding area. In addition to delivering the highest possible level of medical treatment to the local community, the principal purpose of this program is to cultivate a social climate that is defined by empathy and consideration for one another (Guryanova et al., 2022). Integrity, the promotion of collaborative efforts, and putting the health and well-being of patients first are three of the essential aspects of the organization's ideals. The strategic goals are to increase service quality, boost patient satisfaction, and broaden participation in community activities.
Organizational Structure and Culture
Communication inside the ECRHS is streamlined, and the organization can make decisions more quickly and with greater understanding because it maintains a hierarchical organizational structure. The organization possesses a healthy culture that places a high value on the health and happiness of its patients, the growth of its employees both personally and professionally, and the demonstration of ethical behavior while they are at work. Staff members are routinely encouraged to contribute substantially to the company's achievements due to the culture that predominates in this location.
Current Marketing Strategies
The Emergency Care and Referral Health Service (ECRHS) offers various reasonably priced medical treatments throughout a comprehensive spectrum. These treatments comprise routine and emergency medical procedures, making them complete. When providing services through a decentralized network of medical institutions, the patient's comfort is paramount at every stage of the process (Lin et al.). The organization raises awareness about its products and services by circulating periodic advertisements in print newspapers, transmitting promotional spots on radio and television, and maintaining an extensive internet presence.
Current Financial Analysis
The vast volume of patients that ECRHS attends to and the substantial sums of money various insurance companies pay are the primary drivers of the organization's ability to generate revenue and profits. The company has maintained a stable profit margin thanks to the careful monitoring of the expenditures incurred by the business and the consistent customer demand. The market for healthcare services is generally challenging, even though it is prone to occasional fluctuations due to the situation of the economy (Horwitz, 2021). However, the majority of the time, these shifts are minor. ECRHS has secured a sizeable portion of the market for healthcare services as a direct result of the excellent reputation it has worked so diligently to build.
Competitive Advantage
ECRHS has a substantial advantage over its rivals due to its high level of popularity, comprehensive range of services, and unwavering commitment to ensuring that each of its patients is satisfied with their care. This advantage is significant over competitors (Guryanova et al., 2022). Not only does this set it apart from its rivals, but it also encourages patients to continue their allegiance to the firm even after they have cha...