Chat with us, powered by LiveChat Read the following attached articles: Catalyzing Marketing Innovation And Competitive Advantage In The Healthcare Industry: The Value Of Thinking Like An Outsider Advanced Practice Nurse | Wridemy

Read the following attached articles: Catalyzing Marketing Innovation And Competitive Advantage In The Healthcare Industry: The Value Of Thinking Like An Outsider Advanced Practice Nurse

 Read the following attached articles:

Catalyzing Marketing Innovation And Competitive Advantage In The Healthcare Industry: The Value Of Thinking Like An Outsider

Advanced Practice Nurses: Developing A Business Plan For An Independent Ambulatory Clinical Practice

5 Reasons Innovation Fails: What Leaders Must Do First Is Reset And Retrain. Building An Innovative Healthcare Organization Takes Time, And A New Look At Skills

A Comprehensive Environment Scanning and Strategic Analysis of Iranian Public Hospitals: A Prospective Approach

You are planning to create a healthcare business such as a clinic, home care business, adult day care center, IT or management consulting firm, a small store selling medical supplies, or other healthcare-related business. Develop your business plan in terms of the criteria listed below. Then create a PowerPoint presentation that promotes your healthcare business.

The Business Plan

  • Create a PowerPoint that presents the required criteria of your business plan.
    • A ten-twelve PowerPoint (including introduction, conclusion, title, and references slides).
  • Design your PowerPoint so that it promotes your healthcare business.
  • Ensure the information for each slide is captured thoroughly in your speaker notes.

PowerPoint Presentation Slides Must Address The Following:

  • Describe the mission, vision, nature of your business, services and/or products,      stakeholders, and customers of your business.
  • Assess the competitive environment of your business (e.g., culture/social,      legal/regulatory, economic, technological, and/or competitive factors)      along with your major competitors.
  • Identify      Georgia local, state, and federal regulations or other ethical concerns in relation to your business.
  • Formulate your key marketing strategies to promote your services/products.
  • Create your HR plan with projected positions for the first year of your business.
  • Develop a 1-year budget plan with an estimate of how much money will be required to establish your new business, and justify how you will finance your venture.

*Must use at least seven scholarly and/or peer-reviewed sources throughout your powerpoint presentation that were published within the last five years in APA style.

DEBATE Open Access

Catalyzing marketing innovation and competitive advantage in the healthcare industry: the value of thinking like an outsider James K. Elrod1 and John L. Fortenberry Jr.1,2*

Abstract

Background: Marketing arguably is the most critical administrative responsibility associated with the pursuit and realization of growth and prosperity, making prowess in the discipline essential for any healthcare institution, especially given the competitive intensity that characterizes the industry. But in order to truly gain an advantage, healthcare establishments must tap into innovative pathways that their competitors have yet to discover. Here, thinking like an outsider can pay tremendous dividends, as health and medical organizations tend to focus inwardly, limiting their exposure to externally-derived innovations and advancements which often can supply differentiation opportunities.

Discussion: Some years ago, during a formative period in preparation for expanding its footprint, Willis-Knighton Health System opted to think like an outsider, peering beyond the walls of healthcare institutions in search of tools and techniques that would allow its growth ambitions to be realized. Associated pursuits and subsequent successes created a culture of challenging status quo perspectives, affording innovations and resulting competitive advantages. Marketing advancements, in particular, have been fueled by this outsider mentality, benefiting the institution and its patient populations. This article profiles several of these advancements, discusses the dangers of insular mindsets, and suggests avenues for encouraging broad perspectives.

Conclusions: Due to extreme competitive intensity and ever-increasing patient needs, health and medical establishments must perform at optimal levels, with marketing efforts playing a critical role in the achievement of such. By shedding status quo perspectives and peering beyond the walls of healthcare institutions, health and medical providers have opportunities to discover new and different marketing approaches for potential use in their own organizations, affording mutual benefits, including all-important competitive advantages.

Keywords: Marketing, Innovation, Competitive advantage, Hospitals, Healthcare

Background Formally defined, marketing is “a management process that involves the assessment of customer wants and needs, and the performance of all activities associated with the development, pricing, provision, and promotion of product solutions that satisfy those wants and needs” [1], p. 288. Close examination of this definition reveals that the discipline is both wide and deep. Specifically,

the definition (1) notes that marketing is a process, meaning that it is ongoing and must actively be man- aged; (2) brings attention to the Four Ps—Product, Price, Place, Promotion—which must be formulated for each target audience; (3) indicates that the focus is on the consumer; and (4) conveys that products—goods and services—are used to satisfy customer wants and needs, implying product development and management, and the necessity to effect exchange. Marketing arguably is the most critical administrative responsibility associated with the pursuit and realization of growth and prosper- ity, making prowess in the discipline essential for any

* Correspondence: [email protected] 1Willis-Knighton Health System, 2600 Greenwood Road, Shreveport, LA 71103, USA 2LSU Shreveport, 1 University Place, Shreveport, LA 71115, USA

© The Author(s). 2018 Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. The Creative Commons Public Domain Dedication waiver (http://creativecommons.org/publicdomain/zero/1.0/) applies to the data made available in this article, unless otherwise stated.

Elrod and Fortenberry BMC Health Services Research 2018, 18(Suppl 3):922 https://doi.org/10.1186/s12913-018-3682-9

healthcare institution, especially given the competitive intensity that characterizes the industry [1, 2]. But in order to truly gain an advantage, establish-

ments must tap into innovative pathways that their competitors have yet to discover [1, 3–6]. Here, think- ing like an outsider can pay tremendous dividends, as health and medical organizations tend to focus in- wardly, limiting their exposure to externally-derived innovations and advancements which often can supply differentiation opportunities [7]. Outside-the-box thinking also seems to be in short supply often times, presenting yet another opportunity to achieve distinc- tion. Such insular mindsets should not be particularly surprising to astute observers of the healthcare indus- try, as health and medical personnel typically work hand-in-hand with others engaged in like pursuits, hold memberships in healthcare-related professional societies, subscribe to newsletters and other publica- tions which focus on health and medicine, and attend conferences focused on healthcare topics, limiting their exposure to innovations and advancements ori- ginating in other industries and fostering mindsets centered squarely on developments within their given work environments [7–12]. But in this very character- istic of the healthcare industry lies opportunity for those enterprising health and medical establishments which dare to think like outsiders [7, 13].

Discussion Beginning in the 1970s, during a formative period in preparation for expanding its footprint, Willis- Knighton Health System opted to think like an outsider, peering beyond the walls of healthcare insti- tutions in search of tools and techniques that would allow its growth ambitions to be realized. Outside-the- box thinking also was encouraged, unleashing inten- sive creativity which afforded groundbreaking innova- tions, producing windfall benefits. Among other things, the institution turned to various structure, product, and process innovations, adopting the hub-and-spoke model of organization design [14, 15], establishing cen- ters of excellence [16], and embracing the practice of adaptive reuse [17, 18], with each of these approaches notably emerging from outside of the healthcare indus- try [7]. Successes experienced on these fronts were complemented by a range of equivalent successes in marketing, with each of these being derived not from following common pathways which looked within the healthcare industry for solutions, but by pushing the envelope of creative thought and action, assuming the role of outsider in search of novel advancements per- mitting extensive competitive advantages. Notable ex- amples of such pursuits are as follows.

� Pioneering health services advertising: In the 1970s, Willis-Knighton Health System deployed ad- vertising years in advance of the healthcare indus- try’s full acceptance and use of the medium. Advertising was viewed during this period as being beneath the dignity of medical organizations, with some also frowning on the practice due to its poten- tial to upset the traditional method of patient acqui- sition: referrals between and among caregivers [1, 3, 6, 19]. Noting advertising’s widespread deployment by virtually all other industries, Willis-Knighton Health System forged a new and different pathway, affording competitive advantages which fueled growth while status quo market participants lost ground.

� Modeling patient experiences after hotel guest experiences: Desiring customer service excellence, Willis-Knighton Health System turned to the hotel in- dustry for insights permitting enhanced patient expe- riences, noting parallels between hospital patients and hotel guests (e.g., both are away from home, both are immersed in unfamiliar environments). This led to the provision of a number of value-added offerings, in- cluding concierge services, complimentary lodging, and free transportation, greatly elevating customer service, attention, and support, with the spark igniting this innovative array of services being an industry far removed from delivering health and medical care [13].

� Taking a road less traveled to bolster target marketing efforts: In 1979,Willis-Knighton Health System identified and pursued an off the beaten path in its bid to capture market share in pediatric healthcare services. The direct route—targeting current and prospective parents—was heavily pursued by competitors, prompting the institution to seek a road less traveled which would reach the same audiences but do so via a different route. Children, as direct care recipients, supplied one such route, prompting the institution to develop an associated bond. Painstaking efforts yielded Willis-Knighton Health System’s Pediatric Orientation Program, fostering an affinity between the institution and children, which in turn influenced parents, affording opportunities for enhanced patronage in pediatric medicine and beyond [13].

� Expanding the boundaries of traditional branding thought: To complement existing branding initiatives, Willis-Knighton Health System sought identity opportunities outside the boundaries of traditional branding thought, leading it to develop a branded stuffed animal—Willis the Bear—to pro- mote labor and delivery services [13]. The institu- tion’s iconic teddy bear mascot made his official debut on Mother’s Day 2001. Presented exclusively

Elrod and Fortenberry BMC Health Services Research 2018, 18(Suppl 3):922 Page 46 of 48

to mothers who deliver their babies at Willis- Knighton Health System, Willis the Bear significantly elevated awareness of the institution’s labor and de- livery services, illustrating the power and utility of supplementing traditional branding pursuits with nontraditional, expanded perspectives.

� Becoming an owner-operator of digital bill- boards: In 2018, Willis-Knighton Health System ini- tiated an innovative communications pursuit, effectively entering the outdoor advertising business by installing digital billboards at several of its locations. This endeavor paired institutional assets (e.g., excellent locations, outstanding roadside visibility, high traffic counts) with a relatively new technology (i.e., digital billboards) to create a unique marketing communications asset. Unlike the fairly common digital signage fronting many establishments, Willis-Knighton Health System replicated the size and appearance of the digital billboards used by outdoor advertising companies, presenting a famil- iar format to passersby and achieving a high com- munications impact, yielding numerous competitive advantages.

� Encouraging personnel to view themselves from the perspective of patients: Willis-Knighton Health System has encouraged patient attentiveness and empathy throughout its history, investing heavily in assets designed to facilitate the best patient experiences possible [13]. Given the vital role of health and medical personnel in achieving exceptional patient care and support, the institution suggests a reflective exercise that encourages staff members to see themselves and their actions from the perspective of patients. Asking the operative question, “Am I seeing things through the eyes of patients?” serves as an effective reminder of pri- orities, building empathy and motivating personnel to continually deliver their very best. In many respects, viewing oneself from the perspective of patients represents the ultimate example of thinking like an outsider.

The marketing innovations and resulting competitive advantages afforded by the pursuits and practices noted above would never have been realized without shedding internal industry mindsets in favor of more global per- spectives. Profoundly impacting the state of innovation at Willis-Knighton Health System, this broad, inquisitive view fostered new ways of addressing challenges which amplified performance and ultimately supplied numer- ous mutual benefits. An external focus, effectively repre- senting a window to the outside world, is imperative for examining the state of innovation across business and industry, nurturing ideas that might potentially be trans- ferred for use within healthcare establishments and

encouraging creativity that could possibly yield fruitful discoveries and resulting applications [7, 13]. As for achieving an outsider mentality, creative thinking

indeed is essential [13, 20]. This, of course, must be com- plemented by a receptiveness to new and different ideas and a willingness to experiment. Assuming one has the potential for creative thought and is situated in a health- care organization welcoming of innovative ideas and asso- ciated experimentation, the final ingredient is exposure to broader perspectives. This can be achieved by engaging in environmental scanning, making conscious efforts to look beyond the healthcare industry for innovations and ad- vancements emerging in other venues, all the while con- sidering how observed ideas might be used within health and medical institutions [7, 13]. This does not require significant alterations in one’s

daily work life. Reading trade publications which address audiences from across business and industry, expanding personal and professional networks to include those serving in industries other than healthcare, immersing oneself in greater society to observe developments, and similar engagements will afford significant exposure to perspectives far and wide. For added benefits, informa- tion sharing sessions can be conducted within healthcare establishments, permitting staff members to discuss observations gleaned from their broad searches and pon- der potential application opportunities in their given or- ganizations. These and related efforts have greatly facilitated Willis-Knighton Health System’s marketing performance, demonstrating the power of thinking like an outsider as a means of fostering marketing innovation and competitive advantage.

Conclusions Due to extreme competitive intensity and ever-increasing patient needs, health and medical establishments must perform at optimal levels, with marketing efforts playing a critical role in the achievement of such. Insular mindsets which direct attention solely toward the healthcare indus- try are harmful, as they restrict much needed exposure to the full range of advancements occurring in broad busi- ness and industry. By shedding status quo perspectives and peering beyond the walls of healthcare institutions, health and medical providers have opportunities to discover new and different marketing approaches for potential use in their own organizations. As Willis- Knighton Health System discovered, catalyzing marketing innovation and competitive advantage indeed is possible by thinking like an outsider.

Acknowledgments A special note of thanks is extended to the greater Willis-Knighton Health System family for their helpful assistance throughout the development and publication of this article.

Elrod and Fortenberry BMC Health Services Research 2018, 18(Suppl 3):922 Page 47 of 48

Funding Article processing charges were funded by Willis-Knighton Health System.

Availability of data and materials Not applicable.

About this supplement This article has been published as part of BMC Health Services Research Volume 18 Supplement 3, 2018: Engaging patients, enhancing patient experiences: insights, innovations, and applications. The full contents of the supplement are available online at https://bmchealthservres. biomedcentral.com/articles/supplements/volume-18-supplement-3.

Authors’ contributions The authors jointly developed the submitted manuscript, with each performing critical roles from early conceptualization through to the production of the full manuscript. The manuscript resulted from a collaborative effort. Both authors read and approved the final manuscript.

Authors’ information JKE is President and Chief Executive Officer of Shreveport, Louisiana-based Willis-Knighton Health System, the region’s largest provider of healthcare services. With over 53 years of service at the helm of the institution, JKE is America’s longest-tenured hospital administrator. A fellow in the American College of Healthcare Executives and honoree as a Louisiana Legend by Friends of Louisiana Public Broadcasting, he holds a bachelor’s degree in business administration from Baylor University, a master’s degree in hospital administration from Washington University School of Medicine, and an honorary doctorate of science and humane letters from Northwestern State University of Louisiana. He is the author of Breadcrumbs to Cheesecake, a book which chronicles the history of Willis-Knighton Health System. JLF Jr. is Chair of the James K. Elrod Department of Health Administration, James K. Elrod Professor of Health Administration, and Professor of Marketing in the School of Business at LSU Shreveport where he teaches a variety of courses in both health administration and marketing. He holds a BBA in marketing from the University of Mississippi; an MBA from Mississippi College; a PhD in public administration and public policy, with concentrations in health administration, human resource management, and organization theory, from Auburn University; and a PhD in business administration, with a major in marketing, from the University of Manchester in the United Kingdom. He is the author of six books, including Health Care Marketing: Tools and Techniques, 3rd Edition, published by Jones and Bartlett Learning. JLF Jr. also serves as Vice President of Marketing Strategy and Planning at Willis-Knighton Health System.

Ethics approval and consent to participate Not applicable.

Consent for publication Not applicable.

Competing interests JKE and JLF Jr. are both employed with Willis-Knighton Health System.

Publisher’s Note Springer Nature remains neutral with regard to jurisdictional claims in published maps and institutional affiliations.

Published: 14 December 2018

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NURSING ECONOMIC$/May-June 2017/Vol. 35/No. 3126

BUSINESS PLANNING IS an essential business tool for entrepreneurs – a best practice approach for

those interested in developing a small business such as an ambula- tory clinical practice. Translating business planning efforts into a properly prepared business plan remains an undisputed, effective necessity in any entrepreneurial endeavor (Sherman, 2016).

For today’s advanced practice nurses (APNs) with an eye toward innovation and independence, a new story is unfolding in an excit- ing era for these expert nurses. Sparked by the Institute of Medicine’s (IOM, 2010) landmark report, The Future of Nursing: Leading Change, Advancing Health, which emphasized the contribu- tion of nurses to “…building a health care system that will meet the demand for safe, quality, patient-centered, accessible, and affordable care” (p. 1). APNs have

begun enjoying a wider practice scope and establishing their own standalone ambulatory practice centers (American Academy of Ambulatory Care Nursing [AAACN], 2017; IOM, 2010; Yee, Boukus, Cross, & Samuel, 2013).

According to the American Association of Colleges of Nursing (AACN, 2017), there are four cate- gories of APNs: nurse practition- ers, certified nurse-midwives, clinical nurse specialists, and cer- tified registered nurse anes- thetists. In at least 45 states, APNs can prescribe medications, while only 16 states have granted APNs authority to practice independent- ly without physician collaboration or supervision. In states where this independent practice is not allowed, APNs must practice under the auspices of a doctor or a medical institution. However, APNs are authorized to receive Medicaid reimbursement. In December 2016, the Department of Veterans Affairs granted three of the four APN roles (nurse practi- tioners, certified nurse-midwives, and clinical nurse specialists) the ability to practice to the full extent of their education and training. While the new policy excluded certified registered nurse anes-

Joyce E. Johnson Wendy S. Garvin

Advanced Practice Nurses: Developing A Business Plan for an Independent

Ambulatory Clinical Practice

JOYCE E. JOHNSON, PhD, RN, NEA-BC, FAAN, is Associate Professor, The Catholic University of America, School of Nursing, Washington, DC.

WENDY S. GARVIN, MSN, APRN-BC, RN, is Nurse Practitioner and Senior Medical Scientific Liaison, Janssen Pharmaceutical Companies of Johnson & Johnson, Raritan, NJ.

NOTE: As a supplement to this article, a summary business plan can be found at www.nursingeconomics.net

EXECUTIVE SUMMARY The driving forces that are moti- vating many advanced practice nurses (APNs) to create new, high-value practices within the ambulatory care setting reflect the need for better, higher quali- ty patient care, a deep commit- ment to spending healthcare dollars wisely, and most impor- tantly, the relentless search for nursing interventions that lead to real improvement in the health of patients. Business planning provides the path through which new APN- run ambulatory practices become a reality and a success. A well-developed and sophisti- cated business plan is an essential first step in setting up a successful APN practice that reinforces APNs’ contributions to health care, and leads to real rewards for patients and fami- lies, APNs, and the healthcare industry.

127NURSING ECONOMIC$/May-June 2017/Vol. 35/No. 3

thetists, current efforts to include this valuable cohort advances the progressive national trend to enable nurses to practice to the full extent of their education and training.

In addition, population growth and the aging of the U.S. popula- tion have substantially increased demand for primary care pro – viders amidst a growing shortage of primary care physicians (Carrier, Yee, & Stark, 2011; Van Vleet & Paradise, 2015). In this environment, APNs find a fertile terrain rich with opportunities and an invitation to enter the world of small business. While such opportunities can help nurs- es to practice to the full extent of their skills and licensure to improve American health care (Johnson et al., 2012; Wilson, Whitaker, & Whitford, 2012), few APNs understand the regulatory, financial, and general operational business requirements for launch- ing an independent clinical prac- tice. In 2006, AACN recognized this knowledge deficit and de – fined core competencies for the doctorate in nursing practice aca- demic program accreditation.

These core competencies in – clude proficiency in using eco- nomic and financial principles to redesign effective and realistic care delivery strategies and the ability to employ principles of business, finance, and economics to develop effective plans for improving the quality of health care. Many innovative and aspir- ing APNs, including those with and without advanced degrees, who are interested in establishing in dependent ambulatory care prac tices must first understand and appreciate basic business planning principles.

Where does an APN begin to determine if entrepreneurship is right for him or her? The first step is to conduct a serious self-assess- ment to assure the APN has an above-reproach clinical skill set, an exceptional high energy level, and a fiercely independent pro –

pen sity to succeed. If the APN meets these rigorous expectations, the next step is to fully under- stand all the details of what it real- ly means to be an entrepreneur.

Around the beginning of the 19th century, Say coined the term entrepreneur from the French term entreprendre – to “under- take” (Stoy, 1999, p. 231). Say sug- gested change agents seek oppor- tunities for shifting economic resources away from areas of low productivity to those with the potential for higher productivity, higher yield, and greater value. Nurse entrepreneurs seek self- employment by developing di – verse practices and businesses that give them the opportunity to “improve health outcomes with innovative approaches” (Wilson et al., 2012, p. 1). These entrepre- neurs recognize direct accounta- bility to clients regardless of their status as an individual or a pub- lic/private organization that uses their services (Liu & D’Aunno, 2011). Nurse entrepreneurs might have an independent clinical practice, own a business such as a nursing home or pharmaceutical company, or operate a consultan- cy that offers research or educa- tional services, or other businesses that include professional writing, filmmaking, and product develop- ers (Carlson, 2016; Wilson et al., 2012).

As agents of change, APN entrepreneurs seek opportunities to directly address gaps in direct patient care and the healthcare industry. APN entrepreneurs must secure top-notch business skills because they must first convince decision makers and other stake- holders that their views of a new, improved way of doing business via an independent practice offer clear, data-driven advantages for patients and real value for the organization’s bottom line. An entrepreneurial spirit, solid knowledge base, clinical skills, and desire to provide patients with quality healthcare are simply not enough to be successful in an

independent practice. The viabili- ty of nurse-managed practices essentially rests on keen business acumen and financial “know- how” (Barberio, 2010).

To make their case for a new nurse enterprise, ambitious inde- pendent APN entrepreneurs look to the traditional business plan as the vehicle for defining the what, why, who, and where of their nas- cent business venture. For in – stance, what clinical specialty reflects the APN’s clinical expert- ise and services the practice will provide? Who are the competitors and what will differentiate APN practice from the competition? Where will the practice be located to assure sufficient volume and related revenue stream? How many employees are needed to start the business? How much money is needed to get started? What is the potential for getting a loan? How long will it take to make a profit? What are the cur- rent healthcare payer, tax, and related insurance environments? How will the new APN practice be marketed, advertised, and man- aged? It is in a fully developed business plan where nurse entre- preneurs (a) identify specific goals and measurements to assess progress over time; (b) establish the foundation for future practice performance with detailed finan- cial analyses that include cash flow and break-even require- ments; and (c) leverage critical industry intelligence and market- ing information to demonstrate the proposed venture’s viability before decision makers agree to make a significant financial com- mitment.

The Business Plan Framework Although business planning

dates to the 1960s (Taylor, 2016), the e

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