Entrepreneurship in Healthcare Industries: Strategies of Well Care Health Plans, Cardinal Health, and McKesson
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This report analyses the entrepreneurship strategies of Well Care Health Plans, Cardinal Health, and McKesson in the healthcare industry. It covers their initial strategies, core areas, growth strategies, peripheral markets/customers, and acquisitions.
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Entrepreneurship in the healthcare industries
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Introduction Establishing a business is not a big deal in the market but the most challenging aspect in the present time is to plan the strategies to stay in business for a long time. This report is based on three popular companies in US dealing in the healthcare sector by different operation. This report will analyse the initial strategy they applied in their initial stage and the strategies they adapted to play a long term journey in the healthcare industries(Wulfovich & Meyers 2020). The selected 3 companies are 1.Well care health plans, Inc. 2.Cardinal Health, Inc. 3.McKesson well care health plans Well care health plans, Inc. (NYSE: WCG) is engaged in providing the government- sponsored health care services to the society. 1.strategic focus early in growth cyclesInitially, the organisation was focused on three areas with the government-sponsored health care including the Medicaid, Medicare Advantage and Medicare Prescription Drug Plans. 2.Core areas that they are leveragingValuing the expertise and using the expertise as the key area 3.How do their growth strategies change later in their lives Planning to win more tenders to manage health care services 4.What are some peripheralTargeted market – identification of the
markets/customers they are going forgrowth opportunities in the Medicaid and Medicare segment Targeted customers – to add value in the lives of every living being 5.Have they grown by acquisitionWell care has acquisition with the government health care programs 6.How has acquisition worked outThe effect of the acquisition has strengthened the market value and the community believe about more growth strategies will be taken for their development Cardinal Health, Inc. It is a renowned health care company and the 14thin the US in the highest revenue generation 1.Strategic focus early in growth cyclesIn 1988 it turned to the pharmaceutical distributive segmentation and applied the strategy of diversification 2.Core areas that they are leveragingImportant core areas focused by Cardinal Health Inc. are Effective blockchain between different department Transitions of care Focus on the well-developed adherence ad wellness system 3.How do their growth strategies change later in their lives The diversification strategy is developed by taking differentiation strategies with the
suppliers and identifying opportunities to deliver health care services at home 4.What are some peripheral markets/customers they are going for? The wide area it deals to supply the pharmaceutical and medicines and the products of health care to the pharmacies, surgery centres and hospitals in the maximum lower cost than the other companies. 5.Have they grown by acquisition?Yes, from its initial stage it has adopted the merger and acquisition with the diversified health care service providing companies. In the health care sector, it has acquired with the numerous suppliers, health care hospitals and government health care centres, 6.How has that worked out?The main area of the operations in this company is to di acquisition with the same interest companies to earn the long term journey and to maintain the quality product supply.
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McKesson Established in 1833 as the public company dealing with the health care sector with the pharmaceuticals, medical technology and health care services. 1.strategic focus early in growth cyclesMcKesson adopted the transformational form and strategy and partnering with the health industries and leading the same from the last 180 years. 2.core areas that they are leveragingDistribution solutions Technology solutions 3.How do their growth strategies change later in their lives The distribution and technology solutions are the leading factors and the key growth strategies leading the changes in the industry 4.What are some peripheral markets/customers they are going for? The centrally focused customers or market of the McKesson are as follows Retail national accounts Institutional healthcare providers and Independent retail pharmacies. 5.Have they grown by acquisition?McKesson has emerged and grown with acquisitions in the market shares and acquiring the different health care companies. 6.How has that worked out?Acquisitions has resulted as the reason for growth of the industry in the market
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