What is your brand really worth?
If given a choice, would consumers choose a hospital based strictly on cost? What, if any, effect would a hospital's brand have on their decisions? Would a hospital with a strong brand be able to charge more for certain procedures? Would charging more for certain procedures allow a hospital to meet its operating expenses? Advocate Health Care, a 10-hospital system based in Oak Brook, IL, sought to find the answers to these questions last year in a study it conducted with Livonia, MI-based consultants Market Strategies.
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