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The healthcare industry is flooded with competitors. Rather than diving in head first you should identify key strategies in order to grow your business.  As demonstrated in the book “Blue Ocean Strategy: How to Created Uncontested Market Space,” most companies have a “red ocean” strategy 6, meaning they try to outperform their rivals to grab a greater share of existing demand. As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities, and cutthroat competition turns the ocean blood-red. 

 

In contrast, consider building your business plan based on a “blue ocean” strategy. This is untapped market space where you can create demand, making your competitors irrelevant. Blue ocean strategies can even be created from within red ocean strategies by expanding existing industry boundaries. This is known as value innovation. A blue ocean strategy for the long-term market would be targeting the non-clinical departments, such as patient transportation/valet, maintenance, food service or security, for business. A long-term care chain, for instance, should appreciate the fact that they would be able to outfit the entire staff through one source.

With the healthcare industry encompassing numerous sub-markets, it is best to develop specific target-markets rather than attempting to penetrate the industry as a whole. A key determinant in selecting targets should be the sub-markets growth potential. For instance, the long-term care market is poised for growth as the aging population is living longer and therefore increasing in size.  

After determining key healthcare targets, value propositions should be created for each target market. A value proposition should be personalized to the needs of the market and highlight the benefits your company can provide to better their organization. If you were creating a value proposition for long-term care, a key touch point would be how your products would improve the resident experience as security and employee recognition is important in this environment. 

Brand awareness is critical in the healthcare industry where brand representation can enhance the resident experience and the image of a facility. This is more important than ever because residents/patients and their families are consumers that truly have a choice of where to receive their medical care.

 

Uniforms play a direct role in the patient experience as a strong, branded program can create a professional look that is appeasing to patients. A branded uniform program also assists patients in identifying their caregivers, thus giving them a better sense of security. Additionally, research shows that a patient responds more positively to someone in a uniform, and therefore is more willing to have open communication – which is critical in a medical setting.  

 

A uniform program also ensures the healthcare facility’s brand is projected consistently by all uniformed employees. A 2011 study on the effectiveness of uniforms found a majority of companies surveyed said that outfitting their employees in corporate branded uniforms outperforms internet, newspaper, TV, radio and billboard advertising by margins of up to nine to one.7 

With the healthcare industry encompassing a variety of unique sub-markets, it is essential to examine your sales organization for realignment to confirm that each sub-market is addressed adequately. By strategically placing and designating your sales team members to specific sub-markets, your company will be aligned to penetrate the most healthcare business.

Your sales organization must be knowledgeable in all of the apparel products needed in healthcare facilities, as well as understand the nuances within the healthcare industry. For instance, a good topic to understand is how quality textiles matter to the booming long-term population.  An article from American Laundry News recently said, “Residents and their family members are becoming increasingly discerning about the level of services provided and are turning a keen eye to the appearance and cleanliness—or lack thereof—of linens and textiles.”8 

 

Beyond bettering your company’s capabilities, laundries are now looking to suppliers for expertise in the field.  Suppliers can help laundries grow their business by training their internal staff on the key features and benefits of your products, as well as how to address and successfully sell to companies within the varying healthcare sub-markets.

 

As we continue to see changes in population trends and the national healthcare policy landscape, organizations within the healthcare textile industry must further educate their internal team members and adjust healthcare business tactics accordingly. This will poise your organization for what could be record growth in the next few years.