Traditional Business Concepts Essay Example for Free

Traditional Business Concepts EssayBusiness concepts of marketing and economics cook proven to be valuable to the success of many business organizations. This is due to the fact that business concepts know the techniques of understanding and reaching out to clients. Thus, it is useful to flux some of these concepts into the healthcare industry, with the aim of further improving the delivery of healthcare services. Understanding and application of economic concepts to healthcare are useful in work out many of the controversies in the field. Healthcare is an aspect of government that is always on crisis. For example, one recurring crisis in healthcare is the huge number of population that is uninsured. This crisis could be better understood and addresses through the application of the economic concept of demand.Thus, the number of people who wants healthcare coverage increases because they want to be healthy (Drummond, 2001). Moreover, there is a corresponding increase in incom es and improvements in medical technology, which affect their expectations on healthcare coverage. Since this understanding gives insight to the reason for increasing demand for healthcare, healthcare organizations would conduct a better starting exhibit when dealing with their clients, thereby further increasing the care with which they deal with the latter. Another important business concept that could financial aid healthcare organizations is Customer Relationship Marketing (CRM), which helps organizations manage their customers. CRM is useful because it would allow healthcare organizations to ensure that they could access customer information at any point and at any time within the organization. Having information at ones fingertips would, without a doubt, help healthcare organizations personalize their services according to the circumstantial needs of their clients. Thus, while CRM is initially a business concept, it would not reduce the caring aspect of healthcare organiza tions (Garca-Murillo Annabi, 2002).ReferencesDrummond, M. (2001). The Use of Economic Evidence by healthcare Decision Makers. The European Journal of Health Economics 2(1), 2-3Garca-Murillo, M. Annabi, H. (2002). Customer Knowledge Management. The Journal of the Operational Research Society 53(8), 875-884