Market Research Letter: March/April 2008
Providing insights for home care and hospice
March/April 2008
In This Issue
Feature Article: Key Metrics for Measuring
Metrics Matter: How to Grow Your Market in the Hospice Market
New Market Expansion: A Case Study
In this second issue of Healthcare Marketing Resources’ newsletter, we follow-up last month’s feature that focused on why large market share is important with information about the metrics involved in determining market share. For home care and hospice providers, there are many ways to look at market share. We help you understand how to determine your market share, as well as the valuable information provided by various market share measures.
As always, it is our goal to help you grow your home health or hospice business. Please feel free to contact me with any questions and comments about the newsletter, as well as for information about ways we can assist you in planning your business strategy in the future.
Rich Chesney
President, Healthcare Market Resources, Inc.
Feature Article: Key Metrics for Measuring Market Share
Market share is important to the overall success of home health and hospice providers. How do you determine your company’s market share? There are various methods used to measure market share, in various aspects of the businesses, including finance, sales, and operations . We define these major metrics, explain why they are important, as well as demonstrate how this information can be used to help move your business forward in today’s competitive market. Read more.
Metrics Matter: How to Grow Your Share in the Hospice Market
When it comes to growing admissions to your hospice, you can either take market share from your competitors or find new sources for referrals. Which approach would be the most effective? The answer to that can be best determined by looking at hospice penetration in your geographical region. Healthcare Market Resources Inc. provides data for the 2005 Hospice Death Penetration Rate in the U.S. on a state level and discusses strategies for hospice providers to increase their market penetration. Read more.
HealthMR Case Study
How can market share information be used to help expand your business? As one client considered expanding into one of three new markets located in a bordering state, Healthcare Market Resources Inc.’s Home Health Market Share Profiles provided the relevant information they needed to find the market with the best opportunity for successful growth. Read more.