Customer value is about increasing the worthiness of a product or service that a certain customer desires. It is a model that is based on inducing a positive shift in the various market forces of demand and supply. Producers, manufacturers, and other service providers are the ones responsible for creating a superior customer value (Bindra, 2018). The creation of customer value is usually done to lure new customers or strengthen the bond or loyalty of customers to a certain product or service. In healthcare services, superior customer value is the greatest worth that customers (often patients) can find in the services provided by a certain healthcare institution. Such attributes as prices/costs, reliability, assurance, proficiency, quality, accessibility, and other peripheral aspects like insurance considerations define services in the healthcare sector. Therefore, superior customer value in healthcare services includes the amicable integration of the mentioned attributes in a way that is overly convenient for a customer.
Cost and pricing are a pertinent part of superior customer value in healthcare. A big percentage of customers prioritize the price considerations of healthcare services over other factors. It is important to note that the purchasing power of customers varies. For instance, the wealthy may not prioritize cost when trying to establish the value of healthcare services they are likely to receive. Other factors like quality, proficiency, and reliability may be the priority (Bindra, 2018). However, due to the limited purchasing power of the poor and middle class, the price has to be a priority when establishing value in healthcare services. Therefore, the cost is part of the conversation when discussing value. Most healthcare costs are transparent. For instance, most of the invoices given to a customer include a breakdown of the costs of services or products offered like a consultation, medicine, and inpatient services among others. As such, the customer is able to see what they are paying for hence the transparency.
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Reference
Bindra, P. S. (2018). The Core Elements of Value in Healthcare . Health Administration Press (HAP).
