The completion of a SWOT analysis of Aetna revealed that the company has several strength that will help usher the company into their next phase. Aetna has a strong position in the US healthcare market and has great control over the company’s benefits and expenses and as a resulting in improved profitability. The company also has a wide and deep product portfolio and is attracting larger clients. Another advantage of Aetna is that their cost and quality focus with investments in health care technology. Although the company has several strengths it also has its weaknesses, such as low contribution of large case pension segments and overdependence on the US market.
Development of new drugs and getting them to market is critical for remaining competitive in the pharmaceutical industry. The final option I see for Merck in this situation is to create new capabilities through a spinout organization. As it stands, Merck is unprepared (with its current competencies) to rapidly move into the pharmacy management arena. This is primarily due to the fact that most of their resources are devoted to drug research and development. Spinout organizations, however, should primarily be used when a separate organization is required because the
Fierce competition is not avoidable after the patent expires, which may drive down the profit margin. However, some examples, such as Listerine, indicated that OTC product can maintain in the market for a much longer time, because consumers have the tendency to self-diagnose their common ailments, and obtain a drug without prescription. Secondly, Pepcid is a safe drug, and its indication is a common chronic problem in public that is relatively easy to self-diagnose and self-treat. By making such a drug an OTC product, the company can gain access to a larger consumer base and thus gain more profit. Pepcid as a prescription drug has already gained its market as a brand name drug.
This is because there will always be a demand for health care, and that demand is increasing as the population increases. In addition, the market has low barriers to entry, this option has low start-up costs, and has the shortest turn-around time for becoming profitable. 3. Now put yourself in the role of the entrepreneur rather than the investor. Assuming you are qualified to be a member of the founding team for all four new companies, which would you choose to join (assuming compensation, location, etc.
You develop relationships with different health care providers on your own time, while also maintaining contact with current medical professionals. Becoming a Pharmaceutical Sales Representative is very competitive. You must have a strong work ethic, excellent communication and sales skills, and you must be prepared for constant travel. In order to prepare myself for this I have chosen my major to be marketing. There is no specific degree needed to become a Pharmaceutical Sales Rep, but it is required that you have a Bachelors Degree.
As quoted in the book, “As advances in medicine and disease prevention have increased life expectancy in the United States, the benefits have disproportionately gone to people with education, money, good jobs, and connections” (Scott 2005:29). Another example given in the book is that class matters within marriage or romantic
Yet by recognizing how it will affect these key players, their support can be a powerful force to contribute to the success of new ideas or startups. With the simple question of “who will this affect?” potential adversaries can be turned around into important supporters. Another human factor which is often a barrier to health care innovation is the investor, or lack of them. A great idea may not gain the support it deserves simply because of the significant time required to wait for approval, or, because its “third party payment system” escapes their understanding. Yet another human factor affecting healthcare are today’s customers themselves.
How communication is so important in a health and social care environment Communication is vital when working in a health and social care environment, verbally or non- verbally. It is needed so that the carer (nurse, social worker) can give the best possible support or help to the patient. Good communication skills can gain positive relationships and also put the patient at ease as they will feel they can start to trust you which help them to relax and communicate back with you. This can then help to get a bigger picture of the patient's background and enable you to understand their needs. Sometimes it may not be as simple as just talking to a patient, it maybe there deaf or blind, if this was to be the case it is very important for to you finds the right way to communicate with them, for simple reasons such as an emergency.
The Skill of Active Listening June 15, 2014 Patience, empathy, and attention to detail are a few acquired skills that help mold a great medical assistant, but the skill of active listening is an absolute requirement in order to be truly successful. From measuring vital signs and administering injections, to scheduling patients and preparing for physical examinations, a medical assistant needs to have strong listening skills in order to properly follow through with daily tasks and duties (BLS, 2014). Active listening prevents reason for conflict, while allowing team members to become stronger as a whole and further creating higher efficiency rates within the medical facility. When a medical assistant listens, they open their minds to numerous opportunities and area able to gain more knowledge. Most importantly, a special patient relationship is formed that enables an assistant to provide quality care and service.
(Health Guide USA) Scientific advances will lead to new drug products. More people may get insurance coverage for medications. The number of older people is growing, and older people use more prescription medicines than younger people. All of these factors will increase the prescription drugs, which will enhance the demand for pharmacists. In addition, as healthcare continues to become more complex and as more people take multiple medications, more pharmacists will be needed to counsel patients on how to use their medications