BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report

Student Name

Capella University

BUS-FPX4124 Health Care Marketing and Strategic Planning

Prof. Name

Date

Introduction

AxessPointe Community Health Center (API) is a Federally Qualified Health Center (FQHC) serving Summit and Portage counties in Northeast Ohio, offering a wide range of healthcare services including medical, dental, behavioral health, and pharmacy services (API, 2021). Despite catering to diverse payer groups such as Medicaid, Self-Pay, and commercial payers, API’s Medicare population accounts for only approximately 16% of its payer mix (API, 2021). Notably, in Summit County, where most of API’s locations are located, the demographic aged 65 and over constitutes about 21% of the population (U.S. Census Bureau, 2020), presenting an opportunity to target a significant patient base lacking sufficient healthcare access.

Financial Assistance Strategy

FQHCs like AxessPointe aim to serve underserved, underinsured, and poverty-stricken populations. Given that 23.5% of Akron’s population falls below the poverty line (U.S. Census Bureau, 2020), API’s provision of financial assistance becomes crucial in its marketing strategy. Through initiatives such as the Sliding Fee Scale (SFS), API provides financial aid to Medicare-eligible individuals, even those with existing health insurance, aiming to attract more Medicare beneficiaries.

Specialized Medicare Services

To further attract the Medicare population, API plans to emphasize Medicare-specific services such as Initial Preventive Physical Examinations (IPPE) and Annual Wellness Visits (AWV). By catering to the unique healthcare needs of this demographic, API seeks to differentiate itself and enhance its appeal among seniors seeking comprehensive care options.

BUS FPX 4124 Assessment 4 Competitor Health Care Market and Product Report

Competitive Landscape

Oak Street Health, a significant competitor in the Akron area, specializes in providing care to Medicare patients with a focus on preventive healthcare (Oak Street Health, 2021). Offering services tailored to address seniors’ holistic needs, including community engagement initiatives and specialized healthcare programs, Oak Street Health poses stiff competition to API. Particularly, Oak Street’s focus on expertise in senior care resonates well with the aging population, strengthening its market position.

Utilization Strategies

Oak Street Health’s success lies in its effective utilization of market demand. Recognizing the crucial role of family members in seniors’ care, Oak Street has introduced Patient Relation Managers to assist patients with various aspects of their healthcare journey (Oak Street Health, 2021). This proactive approach aligns with the evolving needs of seniors and contributes to Oak Street’s reputation for patient-centric care.

Conclusion

Healthcare organizations must continually evaluate and understand the dynamics of their market to effectively meet community needs and deliver quality care. By aligning strategies with demographic, geographic, and socioeconomic factors, healthcare providers like API can enhance their relevance and efficacy in delivering quality healthcare services and achieving positive outcomes for their target populations.

References

API. (2021, July 27). Community Health Center Akron, Barberton, Medicaid Health Clinic. Axesspointe Community Health Centers. https://axesspointe.org/

Oak Street Health. (2021, June 29). About us. https://www.oakstreethealth.com/about-us?utm_source

U.S. Census Bureau. (2020). Explore Census Data. United States Census Bureau. https://data.census.gov/cedsci/table?q=Akron,Ohio&tid=DECENNIALPL2020.P1n Press.

BUS FPX 4124 Assessment 4 Competitor Health Care MarketFZ and Product Report