Health care related businesses have various stakeholders.  Identify up to four (4) stakeholder constituencies and how their interests are related to the health care facility and industry.

Health care finance (2 questions)

Health care related businesses have a wide range of stakeholders with different interests which must all be accounted for when making decisions. These constituencies can broadly be categorized into four main groups: patients and their families, health care providers, insurers and investors.

Patients and their families are the primary beneficiaries of any health care facility as they rely on these institutions to provide quality services that address their needs in an efficient manner; they also expect reasonably priced treatments or services while still being provided with excellent customer service.

Health care providers would include doctors, nurses, technicians, assistants etc. They are important stakeholders since without them the necessary treatments could not be delivered; furthermore it is essential that salaries remain competitive within this field due to the amount of specialised training required in order to perform various tasks.

Insurers play a key role in the industry by providing financial protection against unexpected medical expenses; having sufficient coverage options available is essential for both patients and providers alike as it helps them prepare for potential risks associated with treatment plans. Lastly investors will always want to see returns on investments given the high costs associated with running such organisations over time.

Overall each stakeholder group plays an important role in ensuring that health care facilities operate efficiently while providing quality services at reasonable prices. It is therefore essential that management takes into account these interests when formulating strategies so as to ensure everyone’s needs are met going forward.