Essay Sample on The UnitedHealth Group Incorporation

Introduction

The UnitedHealth Group Incorporation is one of the leading healthcare providers in the world. The organization is for-profit and based in the United States of America. In the year 2018, the company was ranked fifth on the Fortune 500 by total revenue (Guardado et al., 2013). UnitedHealth Group deals in healthcare products; in addition, it provides insurance services to various people. In the year 2017, UnitedHealth Group Incorporation was the largest healthcare provider globally with a revenue of over two hundred billion US dollars. The organization has various branches across the globe serving over one hundred and fifteen million people. UnitedHealth Group aims to address some of the biggest challenges in the healthcare sector and at the same time, ensuring that the patients remain at the center of the care (Guardado et al., 2013). The organization is committed to giving valuable acumens about the healthcare policies and additionally attempt to find the solution for the large-scale healthcare challenges that dominate the current healthcare system. Besides, UnitedHealth Group operates frequently to connect patients with high quality care that is accessible, convenient and affordable.

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UnitedHealth Group healthcare provider is committed to implementing policies geared towards making the drugs and other healthcare services affordable, stable and predictable for the patients. UnitedHealth Group also offers insurance services. Health insurance part or the whole of the risk of an individual incurring medical expenses, a situation that leads to the spread of risk over a large group of people (Guardado et al., 2013). By estimating the overall risk of health system and health care costs over the risk pool, the insurance companies can develop routine finance structure including payroll tax and monthly premium to avail money to pay for the healthcare benefits elaborated in the insurance agreement. Health insurance benefits are often administered by a given central organization such as the government agencies, non-profit entities and the private businesses.

Characteristics of the Users of the Products and/or Services

UnitedHealth Group products are used by various people across the globe. In most cases, the Company provide services to the sick and to the individuals who want health insurance coverage. Because of the organization's popularity, it frequently receives new clients as it retains the previous ones. Older people often use the organization's services. In most cases, they receive medical care and pharmaceutical services and as a result of their mobility problems, UnitedHealth Group often tries to improve healthcare access and convenience by taking medication and medical examinations to their comfortable homes. The beneficiaries of the UnitedHealth Group services also include children who often develop various health complications. Succinctly, the above organization increases value in the healthcare provision. They offer some of the best services that are not usually offered by other medical providers. UnitedHealth Group enables users with chronic health conditions to get services as per their needs. The presence of the organization in various geographical locations enables patients with chronic medical conditions to acquire quick or urgent medical services. UnitedHealth Group serves clients from various social economic status; this explains why they are on the verge of making their services affordable to everyone.

Every year, millions of American citizens as well as other people across the globe experience recurrent, acute and chronic pain. As a result, most of them often requires pharmacological or surgical interventions. Therefore, in an attempt to better treat or provide the above medical services to the above clients, UnitedHealth Group incorporates different services that comprehensively engage the personality factors that impact the experiences of a given disorder and adaptation to pain. The organization applies to the newest advances in clinical interventions and provide practical approaches. The products and services offered by UnitedHealth Group attract users from a different background. When it comes to the insurance coverage, the company often receive users who want to enrol to the cheap or affordable health coverage offered by the company. The organization also offers services to clients across races and tribes. Health insurance often covers and provide for the payments of benefits as a result of injury or sickness. It usually includes insurance for losses from medical expenses, losses from accidents, accidental death, and disability as well as the dismemberment. The users of the UnitedHealth portray different characteristics depending on the type of services required.

Competitive Environment of the UnitedHealth Group

In the current market, there are numerous healthcare providers that offer different services to various groups of people. Additionally, the health complications experienced by different individuals often tend to be similar, a situation that forces health providers to adopt similar approaches in the treatment process. The above situation frequently leads to competition in terms of service delivery. UnitedHealth Group is among the top health care providers worldwide. The organization thus faces a lot of competition from other firms who offer the same services but in unique ways. UnitedHealth Group, in addition to the provision of pharmaceutical services, provides medical coverage that supports many patients (Gaynor & Town, 2011). Over the last ten years, UnitedHealth organization has experienced a competitive market due to the emergence of numerous healthcare providers that offer similar services but in unique ways. Healthcare providers often compete for clients or patients, based on quality or price, in addition, they may compete for budgets. Due to the stiff competition in the healthcare system, UnitedHealth has been able to improve its health system performance. Competition thus varies from one country to the other and across health system sub-sectors.

In the competitive market, the provision of quality is important. However, in theory, medical services and goods and pharmaceuticals, usually tend to meet conditions required for factual competition. Even with the adjustment of policies and treatment services, competition continues to exist since all the organizations involved equally adjust to the requirements. To prosper in the competitive marketing environment, UnitedHealth Group needs to adjust the marketing processes. There is also the need to change the operational processes and the ways of administering the treatment processes. UnitedHealth Group needs to introduce the idea of taking health services to the comfort zones especially to the elderly people who have mobility problems.

Tools of Marketing Mix

Pricing and promotion are some of the most appropriate means of marketing that would be most suitable for UnitedHealth Group incorporation. The above marketing mix will enable the organization to improve the general awareness of different products and services that it delivers to the market. Product, place, price and promotion constitute the marketing mix of a product. The pharmaceutical products that the firm offers will have relatively high quality, thus, making the effective for the patients. The consideration for the price is pegged on the capability of the target market to buy it. The promotion is to be done through social media, owing to ease of access to social media by the target market (Engelgau et al., 2016). The products should be available for placement within the local tuck shops of the institutions. UnitedHealth Group needs to design unique advertisement techniques so as to showcase their pharmaceutical products and services in the competitive market. The advertisement programs should be aired over appropriate media platforms accessed by a large number of audience. The choice of the advertisement platform should be influenced by the target market. The organization should consider internet and television networks as the most suitable platforms for showcasing the pharmaceutical products and services. The above scenario is because students, patients as well as the healthcare practitioners often want to see the physical aspect of the hospital. The management of the UnitedHealth Group needs to adopt the unique pricing strategy, the process should take into consideration, the accessibility and the demand. UnitedHealth Group healthcare providers should, therefore, implement a pricing strategy that will ensure the promotion of high-quality medical delivery to the patients that they serve.

Pricing Strategy

One of the products offered by the UnitedHealth Group healthcare providers is the pharmaceutical products. The pricing strategy often takes different criterions based on demands and accessibility. The amount of money charged for pharmaceutical products including medicines is based on the quality and the type of marketing process. Understanding how much the target customers value the product or service is essential when it comes to the pricing strategy. Pricing pharmaceutical products are one of the essential aspects of the marketing strategy. Generally, the pricing strategies directed towards the marketing of the above product include cost-plus pricing. The above criterion involves calculating the cost of the product and merely adding a mark-up.

References

Engelgau, M. M., Sampson, U. K., Rabadan-Diehl, C., Smith, R., Miranda, J., Bloomfield, G. S., ... & Alam, D. S. (2016). Tackling NCD in LMIC: achievements and lessons learned from the NHLBI-UnitedHealth Global Health Centers of Excellence Program. Global Heart, 11(1), 5-15.

Gaynor, M., & Town, R. J. (2011). Competition in health care markets. In Handbook of health economics (Vol. 2, pp. 499-637). Elsevier.

Guardado, J. R., Emmons, D. W., & Kane, C. K. (2013). The price effects of a large merger of health insurers: A case study of UnitedHealth-Sierra. Health Management, Policy and Innovation, 1(3), 16-35.