Sunday, November 17, 2019
Traditional Business Concepts Essay Example for Free
Traditional Business Concepts Essay Business concepts of marketing and economics have proven to be valuable to the success of many business organizations. This is due to the fact that business concepts know the techniques of understanding and reaching out to clients. Thus, it is useful to integrate some of these concepts into the healthcare industry, with the aim of further improving the delivery of healthcare services.            Understanding and application of economic concepts to healthcare are useful in solving many of the controversies in the field. Healthcare is an aspect of government that is always on crisis. For example, one recurring crisis in healthcare is the huge number of population that is uninsured. This crisis could be better understood and addresses through the application of the economic concept of demand. Thus, the number of people who wants healthcare coverage increases because they want to be healthy (Drummond, 2001). Moreover, there is a corresponding increase in incomes and improvements in medical technology, which affect their expectations on healthcare coverage. Since this understanding gives insight to the reason for increasing demand for healthcare, healthcare organizations would have a better starting point when dealing with their clients, thereby further increasing the care with which they deal with the latter.            Another important business concept that could aid healthcare organizations is Customer Relationship Marketing (CRM), which helps organizations manage their customers. CRM is useful because it would allow healthcare organizations to ensure that they could access customer information at any point and at any time within the organization. Having information at one’s fingertips would, without a doubt, help healthcare organizations personalize their services according to the specific needs of their clients. Thus, while CRM is initially a business concept, it would not reduce the caring aspect of healthcare organizations (Garcà a-Murillo Annabi, 2002). References Drummond, M. (2001). The Use of Economic Evidence by HealthCare Decision Makers.           The European Journal of Health Economics 2(1), 2-3 Garcà a-Murillo, M. Annabi, H. (2002). Customer Knowledge Management. The         Journal of the Operational Research Society 53(8), 875-884
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