A large community hospital, River Valley, has recently begun to acquire physician practices. At issue is whether to rename each acquired practice “River Valley Associates” or to leave each name alone.

1. What are the trade-offs River Valley should consider in this decision?

A pharmaceutical company is trying to determine what pricing it will use for a nonproprietary drug.

2. Explain the pricing strategy the company could use if the objective was: (a) profitability, (b) sales volume, (c) market share.

Explain both a forward and backward vertical integration option for the following providers:

3. A major academic medical center such as the University of Iowa.

4. A five-person general surgery group.

5. A manufacturer of durable medical equipment.

In recognition of the post-purchase role of promotion, what strategies would you recommend for:

6. A busy hospital emergency room.

7. An executive fitness program that provides health screening and fitness evaluation.

8. An occupational medicine program that contracts its services to companies

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7. Explain the vertical integration options and directions for the following providers: (a) a major academic medical center such as the University of Iowa, (b) a five-person general surgery group, and (c) a manufacturer of durable medical equipment

1. When deciding whether to rename the acquired physician practices, River Valley should consider several trade-offs:

a) Brand Consistency vs. Local Identity: Renaming each practice as "River Valley Associates" can create a uniform brand identity and promote recognition and trust among patients. However, keeping the original name can maintain the local identity and reputation each practice may have built.

b) Standardization vs. Autonomy: Renaming all practices can help establish consistent processes and protocols throughout the organization. On the other hand, allowing each practice to retain its name may respect the autonomy of individual physicians and their established patient relationships.

c) Market Positioning vs. Differentiation: Renaming the practices can position River Valley as a unified and comprehensive healthcare provider in the community. However, maintaining the original names can help differentiate each practice and preserve existing patient loyalty.

d) Cost vs. Benefit: Renaming requires investment in rebranding efforts such as signage, marketing materials, and website redesign. River Valley should weigh these costs against the potential benefits of a unified brand.

2. Pricing strategies for a nonproprietary drug with different objectives:

a) Profitability: The company can employ a premium pricing strategy, setting prices higher than competitors to maximize profits on each unit sold. This approach is feasible when there are limited substitutes and the company has a strong brand image or unique features that justify the higher price.

b) Sales Volume: A penetration pricing strategy could be used by setting lower prices initially to attract a large customer base and gain market share. This approach aims to stimulate demand and create barriers for competitors to enter the market.

c) Market Share: A skimming pricing strategy involves introducing the product at a high price to capture the market's early adopters and maximize revenue. Over time, the price is gradually reduced to attract a larger customer base and increase market share.

3. Forward and Backward Vertical Integration options for providers:

a) Major academic medical center like University of Iowa:
- Forward Vertical Integration: The medical center could acquire or partner with outpatient clinics, physician practices, or rehabilitation centers. This allows the medical center to extend its reach and offer a full spectrum of healthcare services to patients in the community.
- Backward Vertical Integration: The medical center could consider acquiring or partnering with research laboratories or pharmaceutical companies to enhance its ability to conduct cutting-edge research and develop innovative treatments.

4. Five-person general surgery group:
- Forward Vertical Integration: The group could expand its services by acquiring or partnering with specialized surgical centers, outpatient clinics, or imaging facilities. This enables them to offer a broader range of services and attract a larger patient base.
- Backward Vertical Integration: The group could invest in surgical instrument manufacturing or supply companies to have control over the quality and availability of instruments used in their practice.

5. Manufacturer of durable medical equipment:
- Forward Vertical Integration: The manufacturer could establish its own distribution channels or partner with healthcare providers to directly supply the equipment to hospitals, clinics, and rehabilitation centers. This allows them to have more control over the distribution process and potentially offer value-added services.
- Backward Vertical Integration: The manufacturer could consider acquiring or partnering with raw material suppliers to secure a stable supply chain and potentially reduce costs.

6. Strategies for a busy hospital emergency room:
- Improve Triage System: Implement a robust triage system to assess patients' urgency and prioritize treatment accordingly.
- Enhance Staffing: Ensure appropriate staffing levels to handle patient influx, decrease wait times, and improve overall patient experience.
- Streamline Processes: Utilize technology and process improvement techniques to optimize patient flow, reduce bottlenecks, and improve efficiency.
- Increase Communication: Develop effective communication channels with other departments and facilities to streamline patient transfers and ensure timely access to necessary resources.

7. Strategies for an executive fitness program:
- Personalized Marketing: Tailor marketing efforts to target executives, emphasizing the unique benefits of the program such as personalized coaching, convenience, and premium amenities.
- Professional Partnerships: Collaborate with local businesses, corporate wellness programs, and executive networking groups to increase exposure and referrals.
- Continuous Monitoring and Reporting: Provide comprehensive health screenings, fitness evaluations, and progress reports to demonstrate the program's effectiveness and value proposition.
- Networking and Events: Organize networking events or health-focused seminars to build relationships and create a sense of community among the program participants.

8. Strategies for an occupational medicine program:
- Build Strong Relationships: Focus on building and maintaining strong relationships with companies, HR departments, and decision-makers to secure long-term contracts.
- Tailor Services: Offer customized services based on each company's specific needs, such as workplace injury prevention training, return-to-work programs, and periodic health assessments.
- Track Outcomes: Provide data-driven reports and outcomes analysis to demonstrate the program's value and effectiveness in reducing workplace injuries, minimizing absenteeism, and improving employee health and productivity.
- Continuous Communication: Establish open lines of communication with companies to address their changing needs and provide ongoing support and consultation.