Why are Key Resources Important for the Health Business?
By *Ameen Ahsan Strategy Consulting*
If there has been a sunshine sector, driving employment and revenue generation, it is healthcare. And no wonder! With a robust domestic demand, rise in innovative healthcare, corporatization of healthcare facilities, influx of medical tourism and the government push towards healthcare innovation, the overall segment has been driving the job market, even as others have ebbed and flowed.
What’s more the consistent influx of money into research and development by pharmaceuticals and into innovative healthcare practices, raise the bar for revenue generation and employment.
The healthcare industry provides a variety of services to support the healthcare needs of a community or individuals. The healthcare industry classifies the different products it offers by sector. Hospitals and healthcare systems are continually changing their service offerings, and responding to various internal and external forces including reimbursement issues, advances in technology, and shifts in the populations they serve.
Currently, Healthcare Industry stands at a cross-road of high-end, multi-specialty private healthcare services on one end and lack of doctors, support staff, medicines and facilities at the other. High-end facilities and education platforms are concentrated near metropolitan centres and some areas of the country having no basic access to Healthcare facilities
If you are investing in the Healthcare Industry, it is important to ensure that you have invested well in your key resources. Key Resources states that they are “the most important assets required to make a business model work”. So what kind of elements a business needs to work successfully? Key Resources help creating a value proposition. Or do other key things, like reaching the market, maintaining the relationship with the customer or earning revenue.
There are four different types of Key Resources: Physical, intellectual, human and financial ones. Which of them a particular business needs or depends varies heavily on the industry it’s operating in.
And as you scale, your Key Resources will possibly change and evolve. Your Key Resources typically support your Key Activities and all of that typically works with your Key Partners to supply your Value Proposition.
And remember: resources drive costs, so they must be managed! Share your views on this post!
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