The Marketing Challenges of Healthcare Entrepreneurship: An Empirical Investigation in Nigeria (Published)
This paper investigated the effects of such independent variables as technology, market segmentation and cost reduction on the delivery of the consumer-endorsed services with special interest on healthcare entrepreneurs in Aba and Umuahia metropolis. 96 questionnaires were administered randomly among medical doctors, pharmacists/laboratory technicians and qualified nurses/midwives of 12 hospitals in Umuahia and 20 hospitals in Aba metropolis. Out of the 74 copies returned, 72 were found usable for analysis. Analyzing the data using simple percentages, t-test and Pearson Correlation Coefficient, it was found that the interactions between the aforementioned independent variables and the delivery of patient-endorsed healthcare services were statistically significant. Therefore successful healthcare delivery requires the challenges of channelling competencies to market segments where competitive advantage is enduring as opposed to spreading thin across various fronts. Based on the financial setbacks of private healthcare providers and the need to further liberalize the economy, the government was advised to borrow the conspiracy theory of the Japanese. This involves the tripartite of the government, the banks and the entrepreneurs whereby the last can borrow money for a long time to acquire latest equipment and other resources with the help of government guarantee. Also, government was advised to intensify more effort on making the public healthcare providers more proficient and more humane in the delivery of patient endorsed services since their private counterparts charge high and worst still they rarely have the necessary resources in place.
Keywords: Challenges, Entrepreneurship, Healthcare, Marketing