Pricing Strategy

Pricing strategy refers to the methods companies use to price their products or services (Suttle, 2022). Setting the correct prices for your products is a balancing act. Your pricing strategy is based on your target audience, their willingness to pay, and what competitors charge for a similar outcome. Also, it is based on demand and market conditions. As ECRHS expands, so will the prices. ECRHS will seek to keep costs for their services at a reasonable rate, so they are aligned with their competitors within the community. They will reward and provide incentives for healthy behaviors such as prenatal care, child immunizations, and wellbeing reimbursement programs. Providers will provide on-call services 24 hours a day, seven days a week. After being seen by a provider, a follow-up appointment will be needed, and these visits will be discounted to the patients. For patients who must pay out of pocket, a payment program will be available to make payment arrangements for care provided. This could be an excellent way for patients who do not have insurance to be seen by a physician and could increase patients and sales for the organization. In addition, for ECRHS to gain more profit, it would be wise to bring in more physicians to help with the patient increase. To provide quality healthcare, well-qualified providers with expertise in each specialized field would benefit the community. Incentives will be provided to the new physicians onboarding with ECRHS, such as sign-on bonuses and personal leave.

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