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This sample marketing plan was created with Marketing Plan Pro software.

There is a marked increase in results when multiple items are used in concert to attain a goal, such as a contact between a service provider and a health care practice.

The basic plan is divided into five segments:

  1. Contacting the medical practice for the first time.
  2. Identifying the gatekeeper and making contact with them.
  3. Mailing or dropping off information
  4. Scheduling an appointment for a presentation.
  5. The presentation.

Contacts to implement this marketing strategy will be from a developed database of physicians who currently do not file medical claims electronically. This information is obtained from public records.

Mission

Physicians 1st Billing and Claims is an electronic medical reimbursement filing service provider dedicated to helping medical practices become more efficient and save money by allowing them to out-source their insurance processing and medical billing to an expert reimbursement service. We intend to make enough profit to repay our business-start-up loan and finance continued growth and development with our quality service.

Marketing Objectives

  • Steadily grow the customer base.
  • Experience a decrease in customer acquisition costs.
  • Achieve the reputation as the premier service provider.

Financial Objectives

  • Hold research and development, as a percentage of sales, steady regardless of the prevailing economic conditions.
  • Increase the profit margin by .5% a quarter through operating efficiencies and scales of economies.
  • Steady growth in operating revenues every quarter.

Target Markets

The market can be segmented into two groups:

  • Physicians in practices of less than 10 partners.
  • Physicians in practices of more than 10 partners.

These targeted groups are almost always in private practice. They also typically accept a wide range of insurance reimbursement plans.

Positioning

Physicians 1st will position themselves as the premier electronic medical claim submission service provider. This positioning will be achieved by leveraging their competitive edges.

Physicians 1st Billing and Claims can provide the following benefits:

  1. Free state-of-the-art practice software.

  2. Two-way computer communications.

  3. Next day patient record updating.

  4. Complete practice analysis.

  5. Full service medical claims management.

  6. Superior service.

  7. Experience.

No one else in the local market can offer this service package.

Strategy Pyramids

The single objective is to position Physicians 1st as the premier service provider, quickly achieving significant market penetration. The marketing strategy will seek to first create customer awareness of the services offered, develop the customer base, and work toward building loyal, long-term customers.

The message that Physicians 1st seeks to communicate is that they offer a simple to use, accurate, cost effective medical claim submission system. This message will be communicated through a variety of different methods. The first method will be through a phone sales campaign. This method will seek to contact physician's offices and introduce them to the services that Physicians 1st offers.

The second method of communication is an advertising campaign in medical specific magazines and journals.

The last method will be a concerted networking effort. This will be particularly efficient as the medical community is close-knit.

Marketing Mix

Physicians 1st's marketing mix is comprised of the following approaches to pricing, distribution, advertising and promotion, and customer service.

  • Pricing- # Patients Price Per Claim, 1-99 $5.00, 100-199 $4.50, 200-299 $4.25, 300-399 $4.00, 400 + $3.50. A one time setup charge between $150.00 and $500.00 based on patient load will be assessed and will be due at contract signing.
  • Distribution- All services will be distributed at the Physicians 1st office so there is a seamless blend of the doctor's billing and Physicians 1st's electronic system.
  • Advertising and Promotion- A multi-pronged system will be used to generate awareness and brand equity for Physicians 1st.
  • Customer Service- Having outstanding customer service is an important element of Physicians 1st's mission and all employees will be trained to provide the requisite level of care.

Marketing Research

Two types of market research were used when Physicians 1st was collecting market research. The first type of research was focus groups. The focus groups were collections of seven to nine people who were asked a series of predetermined questions with the responses recorded and discussed among the group members. In addition to the pre-established questions, there was a free-flow discussion format toward the end of the focus group that provided flexibility in allowing the participants to share information and insight with Physicians 1st.

Additionally, questionnaires were used to collect market information from perspective customers. The questionnaires were submitted to a total of 200 potential customers. The response rate was 87, higher than expected. The validity and usefulness of the questionnaire was ensured by utilizing a graduate statistics student to develop the questionnaire. Overall, both forms of primary market research were insightful. This research confirmed many already held assumptions as well as introduced several valuable perspectives that Physicians 1st was not yet privy to.

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