More Hospital Mega-Brands on the Horizon, as Mega-Mergers Rise

More Hospital Mega-Brands on the Horizon, as Mega-Mergers Rise

This week’s Modern Healthcare magazine, long a leading industry publication for healthcare and hospital executives, recapped the number of “mega-mergers” taking place in the industry during the first quarter of 2017. The article cites four such mergers between eight $1 billion healthcare organizations. According to a managing director of a larger international financial advisory firm in the healthcare industry, this is a trend that is likely to accelerate as hospital companies want “regional, if not national, reach to be more attractive to patients and insurers.” Additionally, the article cites that many academic medical centers are operating at near capacity and are seeking community hospital partners to take patients requiring less intensive cases.  This is opposite of a few years ago, when these same large academic providers were partnering with community hospitals to generate more referrals for their highly specialized programs that require volume to remain viable. There were only a handful of “mega-brands” in the marketplace a few years ago – Mayo, Cleveland Clinic, Hopkins, M.D. Anderson, etc. – so the implications of this trend impact hospital branding in a mega-way and bring to mind the importance of key branding indicators such as equity and relevance. “Where’s the equity” replaces “what’s in a name.” These new mergers keep a focus on the equity that exists for brands in the marketplace.  Decisions impacting naming, identities, brand strategies, and communications need to start with a thorough understanding of the recognition, reputation, and value a brand has among its current and desired market.  While seemingly obvious, there are countless examples of health systems that have moved away from existing, and high-equity, brand names in order to keep the peace...
Subscribe to Our Newsletter
Sending
Real Time Web Analytics