400-600 words APA 6 format, in-text citation, Use at least two (2) scholarly references to substantiate your work. Please provide a copy of all references used.
There are very few industries that have the unique economic factor in which the majority of its revenue does not come directly from the customer, but from a third party. This unique economic factor is usually referred to as a private health care insurance company. Third party payers are the commercial, governmental, and health care maintenance insurance companies that help providers manage its patient’s accounts. With the change in focus toward the patient as consumer and increasing number of health plans that are high deductible, patients are becoming more involved in deciding where they go for their healthcare needs.
To increase referrals, Krona is beginning to develop a new marketing campaign to target a new patient mix and increase revenues, something that you discussed in your last Individual Project. You have been asked by the chief financial officer (CFO) to collaborate with the marketing director and discuss the importance of having advertising materials for both the health insurance companies and the patients who receive the health care services.