STRATEGIC APPROACHES TO PRICING IN THE HEALTHCARE MARKET
Abstract
The article is dedicated to current issues in the formation of pricing strategies in the healthcare market. The purpose of the article is to identify the stages and highlight the alternatives for making managerial decisions regarding the choice of pricing strategy in the healthcare market. The following research methods were applied: literature review, theoretical analysis, conceptual analysis, comparative analysis, and synthesis. A review of publications by domestic and foreign authors has been conducted, revealing that most of the attention regarding pricing is focused on the pharmaceutical (commodity) market and the cost structure of products in the healthcare market. However, the issue of strategic pricing for medical services requires further elucidation. Particularly considering that shifting market segments in this context is a costly and effort-intensive process. This study explores the pricing dilemma in the healthcare services market, focusing on the need to reconcile healthcare institutions' requirements for quality resources and the sustainability of human resources, along with the necessity of generating profit in commercial contexts, against the public's demand for accessible, high-quality medical care. The factors influencing a healthcare facility's decision-making regarding acceptable pricing strategies have been analyzed and systematized. The article underscores that, in addition to the conventional factors involved in selecting a pricing strategy, it is imperative to consider the social component of healthcare. The tension between the social and commercial objectives of a healthcare institution can be addressed through government regulatory mechanisms, public health promotion, and incentives for healthcare providers to prioritize qualitative indicators over quantitative ones. The study outlines how available funding sources and the type of product or service impact the selection process for pricing strategies. Additionally, it proposes a decision-making algorithm for pricing strategies specifically tailored for domestic healthcare institutions.
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