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The finance/marketing interface in hospitals
Health Care Strategic Management
|December 11, 1986
Summary
Hospital marketing is now common, impacting other departments. This study explores how aggressive marketing strategies affect hospital finance and suggests a collaborative partnership between marketing and finance functions.
Area of Science:
- Healthcare Administration
- Business Strategy
Background:
- Nearly 50% of US hospitals have established a marketing function.
- This senior-level function influences various hospital departments.
Purpose of the Study:
- To examine the financial implications of aggressive hospital marketing.
- To explore potential collaborative strategies between marketing and finance departments.
Main Methods:
- Analysis of the impact of marketing on hospital operations.
- Discussion of inter-departmental dynamics.
Main Results:
- The rise of hospital marketing necessitates a re-evaluation of financial strategies.
- Potential for conflict and synergy between marketing and finance.
Conclusions:
- Hospital marketing requires a strategic financial approach.
- Developing a partnership between marketing and finance is crucial for success.