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

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

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Capella University

BUS-FPX4124 Health Care Marketing and Strategic Planning

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Date

Introduction

AxessPointe Community Health Center (API), a Federally Qualified Health Center (FQHC), operates in Summit and Portage counties in Northeast Ohio, providing a wide array of medical, dental, behavioral health, and pharmacy services (API, 2021). Despite accommodating diverse payer groups, including Medicaid, self-pay, and commercial payers, Medicare patients constitute only 16% of its payer mix (API, 2021). This represents a significant gap given that seniors aged 65 and above comprise approximately 21% of Summit County’s population, where most API locations are based (U.S. Census Bureau, 2020). This demographic presents an untapped market, offering opportunities to bridge healthcare accessibility gaps for seniors in the community.

Financial Assistance Strategy

AxessPointe’s mission focuses on serving underserved and underinsured populations, particularly those living below the poverty line. Akron, a major city in API’s service area, has 23.5% of its residents falling below the poverty line (U.S. Census Bureau, 2020). To address these challenges, API implements a Sliding Fee Scale (SFS) program to offer financial assistance. This program targets Medicare-eligible patients, including those with existing insurance, aiming to reduce financial barriers to care. By leveraging this strategy, API seeks to enhance its reach within the Medicare demographic while aligning its mission with the socioeconomic needs of its community.

Specialized Medicare Services

To attract and retain Medicare beneficiaries, API plans to expand its focus on Medicare-specific offerings. Services such as Initial Preventive Physical Examinations (IPPE) and Annual Wellness Visits (AWV) are key components of this strategy. These services are designed to address seniors’ unique healthcare requirements while promoting preventive care. By tailoring its services to meet the needs of this demographic, API aims to establish a competitive edge and solidify its position as a comprehensive healthcare provider for seniors in Summit and Portage counties.

Comparison of Strategic Approaches

Competitive Landscape and Utilization Strategies

A significant competitor for API is Oak Street Health, a healthcare provider specializing in Medicare services with an emphasis on preventive care and senior wellness. Oak Street Health adopts a holistic approach, offering tailored programs that include community engagement initiatives and patient relation managers to assist seniors with navigating the healthcare system (Oak Street Health, 2021). This model enables Oak Street to meet evolving senior care needs while fostering strong patient relationships. In contrast, API focuses on financial accessibility and expanding Medicare-specific services. Both organizations demonstrate distinct approaches to addressing market demand, with Oak Street leveraging a more relationship-oriented strategy.

Conclusion

Healthcare providers must continuously adapt to demographic, socioeconomic, and market dynamics to address community needs effectively. By emphasizing financial accessibility and expanding Medicare-focused services, AxessPointe Community Health Center aims to enhance its appeal among seniors while fostering equitable access to care. Strategic adaptations aligned with these factors enable healthcare organizations like API to remain competitive and impactful in serving diverse patient populations.

References

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

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

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

U.S. Census Bureau. (2020). Explore Census Data. United States Census Bureau. https://data.census.gov/