Identify two of the five forces in the Five Forces model and briefly discuss their importance in the market assessment.

Question

Quizplus · Accepted Answer

The Answer is Power of the Health Care Workforce - the future availability/shortage of all subsets of providers and staff could have significant impact on potential strategies.
Power of Consumers and Payers - the increasing autonomy of consumers and the increasing restrictions by payers can significantly impact potential strategies.
Innovations in Technology - providers must be aware of changes and innovations in technology, lest they risk becoming out of date, and/or to be first to market with new products.
Regulatory Environment - health care is a political and policy-oriented industry and, as such, providers must stay abreast of policy changes and their impacts on potential strategies;
Competitive Rivalry - providers need to be aware of competitors' strategies both as a protective measure as well as potential partnering opportunities.

Identify Two of the Five Forces in the Five Forces