Financial forecasting and data analysis
Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions with your classmates. Be substantive and clear, and use examples to reinforce your ideas.
There are very few industries that have the unique economic factor in which the majority of its revenue does not come directly from the customer but from a third party. This unique economic factor is usually referred to as a private healthcare insurance company. Third-party payers are the commercial, governmental, and healthcare maintenance insurance companies that help providers manage its patient’s accounts. With the change in focus toward the patient as a consumer and the increasing number of health plans that are high deductible, patients are becoming more involved in deciding where they go for their healthcare needs.
To increase referrals, Krona is beginning to develop a new marketing campaign to target a new patient mix and increase revenues, something that you discussed in your last Individual Project. You have been asked by the chief financial officer (CFO) to collaborate with the marketing director and discuss the importance of having advertising materials for both the health insurance companies and the patients who receive health care services.