What is Healthcare Marketing?
A steep rise in the medical expenses since the 1980s has witnessed an increase in the competition among healthcare providers. This led to an improved focus on healthcare marketing and communications doubling the finances spent on it. Healthcare marketing is considered one of the latest advancements in the field of medicine. It is a customer centric approach for the promotion of health in order to find prospective patients and stay connected with them across various channels. It applies various general advertising and branding strategies to facilitate relationships among hospitals, physicians and patients. Also a portion of marketing budget is allocated to create health awareness, brand management and maintain relationships with health-associations and local physicians. The main barriers that prevent the success of healthcare marketing are paucity of market research data, outdated marketing strategies, insufficient budget and lack of trained manpower.