Report of entering in Sibian market

Transcription

2015
Report of entering in Sibian market
Paul Vasile Bogdan
Medical Center Clinimed
Medical Safety Services
5/22/2015
Final Report
Paul Vasile Bogdan
MFOi0913
Page number and total number of characters: 63 pages /81 266 characters
Marketing Management program
Final Project Subject
How big would be the chances for Clinimed Medical
Center to successfully expand on a new market
segment like Sibiu?
The report has been prepared by :
Paul Vasile Bogdan ______________________
Delivery Date: 12. 08. 2015
(Number of units of the full project: 82 360 units – the report,
incl. references)
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Contents
Introduction .............................................................................................. 4
Problem formulation ................................................................................. 5
Delimitation .............................................................................................. 5
Methodology ............................................................................................. 5
Clinimed – short presentation of the medical center ................................ 7
Clinimed – Internal Analysis ...................................................................... 8
PEST Analysis ........................................................................................... 17
Romanian Healthcare Providers Market .................................................... 25
General information about Sibiu County ................................................... 29
Sibiu Municipality .................................................................................... 34
Porter’s 5 Forces ..................................................................................... 35
Competitors Analysis ............................................................................... 44
SWOT Analysis ......................................................................................... 55
Conclusion ................................................................................................. 57
List of Resources: .................................................................................... 59
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Introduction
The subject of this AP Degree thesis is dedicated to Market Research within the Romanian
Healthcare Providers Sector and it has the aim to show how a market leader on a certain
geographical sector can expand on a new geographical sector within the same national market.
The subject company of this report is Clinimed Alba Iulia, the biggest private healthcare
provider within Alba County, since their interest is to open a new Clinimed Medical Center in
Sibiu Municipality, in the Sibiu County (a neighbor county).
The formulation of the research topic is as follows:
Taking into consideration the actual position of Clinimed on the Alba’s county healthcare
providers sector, how big would be the chances for the clinic to successfully expand on a new
market segment like Sibiu?
a. What challenges Clinimed can possibly face when entering the Sibian Market?
b. How can the clinic differentiate itself from its competitors on the Sibian Market?
The topic has been decided due to my 3-months Internship within the clinic and to the
observations I made in this time, by working within the marketing Department.
The goal of the topic is to analyze the Sibian Healthcare Providers Sector, in order to show the
clinic what challenges it could face when entering the new segment and how could it
successfully compete against the other players, in order to sustain its position on this new market
segment.
The research for this report is based on secondary data, consisting of comprehensive and relevant
desk research regarding the company, the Private Healthcare Providers Sectors and competitors
on the Sibian Healthcare Providers Sector.
All the gathered observations will be further on analyzed through relevant Theories and Models
that are specially created to help me come up with relevant solutions for Clinimed‟s
Management.
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Problem formulation
Being the market leader on the private medical sector in Alba County, Clinimed is
considering increasing its market share. Thus, by using the market expansion growth
strategy, Clinimed’s Management has decided to expand on the Sibian Segment from the
Romanian Healthcare Providers Sector.
Problem statement:
Taking into consideration the actual position of Clinimed on the Alba’s county healthcare
providers sector, how big would be the chances for the clinic to successfully expand on a
new market segment like Sibiu?
a. What challenges Clinimed can possibly face when entering the Sibian Market
segment?
b. How can the clinic differentiate itself from its competitors on the Sibian Market
segment?
Delimitation
This report has certain limitations. The leak of recent financial information about the company
didn‟t allow me to make a budget.
Also, the leak of relevant information regarding the clinic‟s internal activities could allowed me
to make a more detailed Value Chain Analysis.
Taking into consideration the fact the clinic‟s Management is strongly decided to enter the sibian
market segment, a section regarding the expansion strategy is not relevant in connection with the
topic of the report.
When in comes about Romanian Healthcare Providers Sector, there is a general leak of
information about the players from the market, especially on the Internet.
Methodology
This section of the project is dedicated to what course will the research follow, in order to obtain
comprehensive answers related to the problem statement. This is the part where is presented the
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research, together with the models and theories used, in order to create a clear image for the
reader of the entire structure of the project.
The research for this report is made through secondary data. The desk research is based on
sustainable theoretical models that are going to be used through the report, in order to give a
proper answer to the problem statement, combined with relevant information regarding the
company, the market and the competitors from reliable sources.
The first part of the report will consist from the Internal Analysis of the company, part which
will give to the reader a comprehensive overview of how the company is dealing to produce
value on the market.
Besides the Internal Analysis Model, the Value Chain, in completion, has the aim to point the
important strengths and possible weaknesses that the clinic has.
The second part of this report‟s analysis is dedicated to the external analysis, description of the
Romanian Healthcare Providers Sectors and competitors‟ analysis, in order to answer to the
problem statement. The relevant theoretical models that will be used in this part of the report are
the PEST and Porter‟s 5 Forces Analysis.
The PEST Analysis has the role to give a comprehensive overview of the macroeconomic
environment of the Sibian Healthcare Providers Sector.
Further on, in order to get closer to the relevant answer for the problem statement, the actual
situation of the Romanian Healthcare Providers Sector, followed by the Porter‟s 5 Forces
Analysis will be conducted, analysis that has the aim to give to the reader a comprehensive
overview of the competitor‟s position on the Sibian Healthcare Providers Sector.
After conducting the External Analysis, the following part of the project is dedicated to Clinimed
SWOT Analysis.
Since the company‟s intention is to follow the Market Expansion Strategy, some relevant
information in connection with it will be given, being followed by a relevant marketing mix that
the company could use.
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In connection with the strategy and the marketing mix, an estimated budget for the expansion
will be given.
Clinimed – short presentation of the medical center
“Clinimed Medical Center - trustworthy medical services”
Going through this project, the reader can get a comprehensive understanding of the Romanian
Healthcare Providers Sector, pointing out the most relevant facts about the market in which
Clinimed is active. Moreover, the conducted analysis within the report has the role to point out
the market‟s conditions and how a leading player within a segment can face them when
expanding on a new geographical segment.1
Clinimed is the biggest private healthcare provider within Alba County. The Medical Center was
founded in 1997, having a simple services structure: laboratory for medical tests, general
medicine and pediatrics.
During the years, having a good strategy, the clinic was able to develop, according with
European standards and economic resources, in order to satisfy its potential beneficiaries as
much as possible.
As a result, within Alba County, Clinimed Medical Center is seen as a reliable partner in medical
problems solving, which promotes respect for life and health under all aspects. Since it is a
private medical clinic and laboratory, Clinimed deals both with companies and individuals. As a
confirmation for the good services provided by the clinic are the approximate 15 000 permanent
clients from all around the county, the total number of patients served exceeding 120 000.2
The clinic has qualified personnel (primary doctors and specialists, general practitioners,
biologists, nurses, support personnel, consulting and collaborators and the medical equipment
1
Sfatulmedicului.ro, (2015). Clinimed. [online] Available at: http://www.sfatulmedicului.ro/clinici/clinimed_1195
[Accessed 11 Aug. 2015].
2
Clinimed.ro, (2015). Centrul Medical Clinimed | Alba Iulia | Servicii de asistenta medicala. [online] Available at:
http://www.clinimed.ro/joomla/index.php?option=com_content&view=frontpage&Itemid=1 [Accessed 11 Aug.
2015].
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used by Clinimed is of high quality and authorized by both European and National Legislation.
In connection, the clinic implemented several quality ISO certificates: ISO 17025, ISO 9001 and
ISO 15189 /2007.3
Some other important facts regarding Clinimed‟s development are:
-
In 2001 the clinic developed Occupational Medicine specialization and Services in
connection.
-
Until 2011, the clinic made partnerships constantly, with other medical services
providers, in order to strengthen its position on the market. Until present, the clinic is
following the same trend. As a result, the clinic developed a wide partnership network.
(medical centers from all around Romania, Hungary and Germany) 4
-
In 2011 the clinic organized Clinimed Golf Cup, with the theme “Health and Golf at any
age”. The purpose of the event was to better present to the population the clinic‟s mission
and offered services. The „backstage‟ purpose was again, to strengthen its position on the
market. This means that Clinimed is doing a very good job in maintaining its position of
leader on Alba County segment of the Healthcare Providers Sector.5
Clinimed – Internal Analysis
The following part has the role to analyze Clinimed‟s internal activities that helps the clinic to
bring competitive advantage on the market. When wanting to entering a new market, it is always
good make an analysis like this, so that the clinic to be aware of its strengths and weaknesses. By
doing this, the clinic will be able to deal properly with the threats and opportunities offered by
the targeted market.
3
linimed.ro, (2015). Portofoliu clienti. [online] Available at:
http://www.clinimed.ro/joomla/index.php?option=com_content&view=article&id=54&Itemid=67 [Accessed 11
Aug. 2015].
4
Bestjobs.ro, (2015). Locuri de munca, joburi la SC SAGA SRL - CENTRUL MEDICAL CLINIMED (Alba Iulia). [online]
Available at: http://www.bestjobs.ro/firme/sc-saga-srl-centrul-medical-clinimed-alba-iulia/13142970/1 [Accessed
27 Jul. 2015].
5
Wall-street.ro, (2015). CLINIMED SRL, Spitale & policlinici private. [online] Available at: http://www.wallstreet.ro/catalog/anunt/5083/CLINIMED-SRL.html [Accessed 27 Jul. 2015].
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Clinimed‟s vision is “100% TRUSTWORTHY MEDICAL SERVICES” and is the vision that
made the clinic to become the market leader within Alba County. In completion, the clinic‟s
mission is “Implementing and providing of medical services, according to European standards, in
order to meet the needs of beneficiaries at a high level of professionalism”.
Some of the most important values that Clinimed can take advantage from are as follows:
-
High quality of equipment, staff and services certified: ISO 17025, ISO 9001, ISO 15189
/2007
-
Wide partnership network (medical centers from all around Romania, Hungary and
Germany)
-
Reliability when it comes about health problems-solving
Clinimed Internal Analysis is made through the presented model, which has the aim to point out
what could lead the company to valuable competitive advantage.
Internal Analysis Model6
Clinimed’s resources:
Financial Resources:
6
marketing-info.dk, (2015). The Toolbox - Marketing Models
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-
When it comes about financial resources, Clinimed has financial autonomy. Moreover,
during the years, they established strategic partnerships with various Health Insurance
Funds, fact that helped them to strengthen their financial advantage.
Physical Assets
-
Professional medical equipment authorized with the current EU and national regulations
-
Office equipment, furniture and fixtures
-
Buildings
Human Resources
-
primary doctors and specialists, general practitioners, biologists, nurses, support
personnel, consulting and collaborators
Intangible Resources
-
trade name: Clinimed
-
ISO 17025, ISO 9001, ISO 15189 /2007
-
medical records
-
valuable medical services
-
excellence from the medical staff
-
providing services in conformance to the market specifications and requirements in the
medical field
-
meeting the customer‟s expectations
-
good will
Capabilities:
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-
More than 150 contracts with companies from all around Alba County for medical
services, based on partnerships. These partnerships are based on reciprocal services
-
Partnerships with medical centers from Bucharest
-
Clinimed offers service for both individuals and companies‟ employees
-
50% direct clients
-
35% - companies
-
15% - contracts with the Health Insurance Fund and other medical centers
Distinctive capabilities
-
Provides centered-patient care
-
Apply knowledge of new sciences
-
Work in interdisciplinary teams
-
Employees devotion for their work
-
Ethical behavior especially regarding social responsibility and services
-
Clinically competent care based on evidence
-
Effective usage of up-dated medical technology
-
Competent evaluation and monitoring of the patients health status
-
Collaboration with various health professionals from the country and outside the borders
Core competences
-
Well-structured patients-evidence system
-
Very diversified healthcare services, regarding to many medical specializations
-
Several quality certificates: ISO 17025, ISO 9001, ISO 15189 /2007
-
In 2011 the clinic organized Clinimed Golf Cup, with the theme “Health and Golf at any
age”
-
Implementation and provision of medical services according to European standards
-
Solving customers‟ health issues, as efficient as possible, in the shortest time
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Financial Information7 about Clinimed
-
Total Revenue = 276 679 RON ~ 62 648 EUR (2013)
-
Total Expenses = 287 466 RON ~ 65 122 EUR (2013)
-
Gross Profit
= 0 RON ~ 0 EUR
-
Net profit
= 0 RON ~ 0 EUR
Value Chain for Clinimed
The value chain represents the entire system of a company‟s activities that helps it to create value
on the market. When Michael E. Porter, created the model, he believed that the activities within
an organization are the ones to add value to a company‟s services and thus, creating competitive
advantage on the market.8
Currently, the model is still one of the most relevant strategy tools that help a company‟s
management to analyze its internal activity, to give a much deeper understanding of the
company‟s strengths and weaknesses, to notice issues if they appear at the company‟s internal
level and finally to create Differentiation and/or Cost Leadership Advantage.9
When it comes about the Healthcare Industry, the Value Chain for a Healthcare Provider consists
of 4 chains: upstream, practice value, downstream value chain and value-chain for buyers.
7
Date-financiare.ro, (2015). CLINIMED S.R.L. - CUI 22937312 JUDET ALBA. [online] Available at: http://www.datefinanciare.ro/22937312-clinimed-srl
8
The Economic Times, (2015). Value Chain Definition | Value Chain Meaning - The Economic Times. [online]
Available at: http://economictimes.indiatimes.com/definition/value-chain [Accessed 8 Aug. 2015].
9
Differentiateyourbusiness.co.uk, (2015). Using Value Chain Analysis To Create Competitive Advantage. [online]
Available at: http://www.differentiateyourbusiness.co.uk/using-value-chain-analysis-to-create-competitiveadvantage [Accessed 8 Aug. 2015].
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Value Chain for a Private Healthcare Provider10
The upstream chain, the first part of the analysis, is associated with the healthcare provider‟s
relationship with its suppliers. This includes procurement of the necessary medical supplies that
are needed for the healthcare provider to run the business and its associated inbound logistics.
Clinimed‟s Upstream Value Chain is the first part from the whole Value Chain Analysis and it
shows the relationship between the clinic and its suppliers. When referring at the medical
equipment, the medical center has good partnerships with suppliers from Germany and Hungary.
The fact that it is the market leader within the Alba County shows us that Clinimed as good and
reliable relationships with its suppliers.
The second part of the analysis is the practice value chain and it shows what activities take
place within the clinic. A very important role of this part is to show the key activities within the
10
www.citeseerx.ist.psu.edu, (2015). Sustaining Success in Singapore Private Medical Practice. [online] Available
at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.504.1672&rep=rep1&type=pdf [Accessed 8 Aug.
2015].
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clinic that help to lead to competitive advantage. Since this is the most important part from the
whole Value Chain, its analysis is more complex, presented in a different value chai frame.
Though, due to the leak of sources related to this part of the analysis, I will make it as relevant as
possible by using what I have discovered.
The Practice Value Chain11
Primary Activities
Inbound logistics section, again, refers to the clinic‟s relationships with the suppliers. Thus,
within here it can be mentioned the same thing as in the upstream part of the whole value chain
analysis.
Clinimed has good partnerships with suppliers from Germany and Hungary. The fact that it is the
market leader within the Alba County shows us that Clinimed as good and reliable relationships
with its suppliers.
Operations section refers to what transforms inputs into outputs. By combining the performed
medical equipment together with the specialist‟s intellectual property, the clinic created
diversified services for its potential beneficiaries. This include: specialized outpatient service in
all medical areas (including occupational medicine, commissions for amateur and
11
at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.504.1672&rep=rep1&type=pdf
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professional drivers – in connection with the traffic safety and gun owning) and laboratory
investigations in all medical areas.
Finally, the outbound logistics refers to the activities collecting, storing and distributing the
outputs. By mixing the medical technology with the specialists‟ property, in Clinimed medical
centers, the clinic is offering to its beneficiaries competent, quality and specialized medical
services at attractive prices.
The next section is related to the marketing activities of the Clinimed. One of their most
attractive marketing strategies that the company has is dedicated for the B2B segment. The
strategy is a pricing one: „The tariffs are negotiable, depending on the number of employees‟.
For the B2C segment the clinic offers attractive subscriptions, depending the age group, gender
and different medical areas.
Further on, the service section refers to the clinic‟s relationship with its beneficiaries. Since it is
a trustworthy private healthcare provider, Clinimed has a close relationship with its beneficiaries.
Moreover, because the clinic has partnerships with insurance funds, it can be stated that it has a
very well structured system of medical cases references.
When it comes about the out-bound logistics, the clinic has so far 3 points of activity: the head
office, placed in Alba Iulia, the Alba County‟s seat and to other activity points within the county.
Secondary Activities
Infrastructure
As mentioned before, Clinimed has 3 working points and in each of them there is a certain
number of employees. The head office has a number of 7 employees (2 receptionists, 2 nurses
and 3 doctors), another activity point has 9 employees (5 nurses and 4 doctors) and the last one
has a number of 12 employees (7 nurses and 5 doctors).
Human Resource Management
The clinic deals with qualified staff, chosen very carefully, depending on the required medical
specialty.
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Technological Development
As it can be seen from its development during years, Clinimed is engaged in Research within the
Medical field.
Procurement
As mentioned earlier within the value chain analysis, the most important source of procuring
Clinimed‟s medical equipment are Germany and Hungary. When it comes about intellectual
property, Clinimed collaborates with doctors and specialists from all around Romania and even
outside the borders.
The third part of Clinimed Value Chain is represented by the downstream value chain and it
refers to activities engaged in the clinic‟s relationships with its partners. This includes referral of
medical cases to other hospitals, physicians or specialists. Again, it has to be mentioned here also
that until 2012 Clinimed had more than 150 open partnerships with companies within Alba
County, for complex medical services, including occupational medicine services as well.
Finally, the end-users value chain refers to the clinic‟s activities in connection with their
patients. A good role of this part is that it shows the value of patients and the patterns they follow
when dealing with Clinimed.12 This section of the whole Value Chain Analysis is again, referring
to the marketing activities that make the clinic so desired by the Alba County‟s population.
These are the 2 pricing strategies created for each segment of the market (B2B and B2C). As
mentioned before, when talking about the B2B segment, Clinimed has „negotiable tariffs,
depending on the number of employees‟, while for the B2C segment the clinic offers attractive
subscriptions, depending the age group, gender and different medical areas.
Competitive Advantage
12
at: http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.504.1672&rep=rep1&type=pdf [Accessed 8 Aug.
2015].
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Clinimed‟s competitive advantage is given by high quality and European certified medical
equipment combined with the specialists‟ intellectual property, very carefully chosen regarding
each medical specialization.
A second competitive advantage of the company is represented by the various services for the
various medical specializations that Clinimed provides for its beneficiaries.
Another competitive advantage is given by the each pricing strategy used for B2B and B2C
segments. The clinic has „negotiable tariffs, depending on the number of employees‟, while for
the B2C segment the clinic offers attractive subscriptions, depending the age group, gender and
different medical areas.
PEST Analysis
The PEST Analysis is a very useful instrument used to give a clear image of the company‟s
external environment. PESTEL is a concept in marketing that the companies use especially when
they intend to enter a new segment or market.13
Political factors
The political factors include aspects like: stability and system of governance, press freedoms, tax
policies, regulations of establishing a business, legislations on protecting operators and
customers, amongst others. Also these factors can determine how government may influence the
economy and the industry.
Even though the political scene in Romania suffered changes since forever, after the fall of the
Communism, in 1989, this phenomenon became more intensified, especially because of the
transition to democracy.14
13
Makos, J. (2013). Understanding Pest Analysis with Definitions and Examples. [online] PESTLE Analysis. Available
at: http://pestleanalysis.com/pest-analysis/ [Accessed 5 Aug. 2015].
14
BBC News, (2015). Romania profile - Overview - BBC News. [online] Available at:
http://www.bbc.com/news/world-europe-17776265
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Even since then, the country‟s health status was low, compared to other European countries.
Thus, since 1989 until 1998, the Romanian Healthcare System went through several major
reforms.
The most important change in the Romanian Healthcare System was the switch from the taxbased system to decentralized and pluralistic healthcare insurance system, which is regulated
until present by The National Healthcare Insurance Fund. The new system is based on
contractual relationships. In order to more improve the Health system, in 1997 the Government
approved a new Health Reform Law, that has the aim to improve the relationships between
providers and healthcare funds.15
Even though, by the 2000‟s the whole world relied on well-structured privatization of healthcare
system, in Romania this was still a major problem. This represented a hot debatable topic among
the politicians that rules the country, for over the last few years, because the proposed reforms
that would have led to the privatization of the country‟s healthcare system met the public
opposition (that totally disapproved the initiative). 16
Thus, the next important Reform regarding the Healthcare System has been adopted in 2006 and
it represents the framework for the private Healthcare.
The latest reforms regarding the privatization of the Healthcare (Providers) System were made
between 2013 and 2014 and they are part from the Economic Coverage Program supported by
EU and IMF.17
Economic Factors
This part helps the reader to get a comprehensive overview of a national economy with which the
players from a market deal.18
15
Victor Olsavszky, C. (2008). Health Systems in Transition - Romania Health system review. 10th ed. [ebook]
Available at: http://www.euro.who.int/__data/assets/pdf_file/0008/95165/E91689.pdf [Accessed 5 Aug. 2015].
16
Victor Olsavszky, C. (2008). Health Systems in Transition - Romania Health system review. 10th ed. [ebook]
Available at: http://www.euro.who.int/__data/assets/pdf_file/0008/95165/E91689.pdf [Accessed 5 Aug. 2015].
17
Marketline.com, (2015). Romania In-depth PEST insights. [online] Available at: http://www.marketline.com
[Accessed 14 May 2015].
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When it comes about the Romanian Economy, from 2001 until 2008, when the crisis affected it
badly, Romania registered an average economic growth of 6%. In the following year, 2009, the
country‟s economy suffered a contraction of 6.59% and in 2010 1.12% more. Though, until
present, it can be seen some improvements of the country‟s economy.
According to specialists, the most important sector which brings the highest profits to the
country is the Services Sector, with 59.4% (estimated in 2013), followed by the Industry Sector,
which covers 34,2% of the total national GDP, and ending up with the Agriculture Sector with
only 6.4% of the total GDP. Within the service sector, the highest importance is given by the
financial and insurance sector. 19
Graphic no. 1: Romania – GDP 2006-201520
18
19
Indexmundi.com, (2015). Romania GDP - composition by sector - Economy. [online] Available at:
http://www.indexmundi.com/romania/gdp_composition_by_sector.html
20
Tradingeconomics.com, (2015). Romania GDP | 1987-2015 | Data | Chart | Calendar | Forecast | News. [online]
Available at: http://www.tradingeconomics.com/romania/gdp [Accessed 11 Aug. 2015].
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Graphic no. 2: Romania- Growth Rate 2012-201521
Graphic no.3: Romania – GDP based on sectors22
Before the crisis hit, the inflation in Romania was relatively high, registering 7.8%. As
mentioned before, the global economic phenomenon affected Romania quite hard, fact that made
the inflation to drop, until 2010 to 5.5%. Though, until 2011, a significant improvement could be
21
Tradingeconomics.com, (2015). Romania GDP Annual Growth Rate | 2001-2015 | Data | Chart | Calendar.
[online] Available at: http://www.tradingeconomics.com/romania/gdp-growth-annual [Accessed 11 Aug. 2015].
22
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seen, inflation being able to rise above 8%. Until present, it continued to decrease (except few
months between 2012 and 2013, when the inflation reached 6%), registering almost -2%.23
Graphic no.4: Romania: Inflation rate 2004-201424
According to the economic analysts, the registered unemployment rate in Romania remains
under the average of the European Union unemployment rate. During crisis, the national
unemployment rate dropped from 7% (as registered before the crisis) to 5.4%. Though, by 2010,
the unemployment gained more points, reaching 8%. In the following years, until 2014, it is very
fluctuant, having a significant drop to 6.5% in 2012, followed by a quick increase to 7.5%. Until
present, the unemployment rate has a fluctuant drop and it is expected to maintain the tendency
for the next following years.25
23
European Comission, (2015). Country Report Romania 2015 Including an In-Depth Review on the prevention and
correction of macroeconomic imbalances. [online] Available at:
http://ec.europa.eu/economy_finance/eu/countries/romania_en.htm [Accessed 14 May 2015].
24
Tradingeconomics.com, (2015). Romania Inflation Rate | 1991-2015 | Data | Chart | Calendar | Forecast.
[online] Available at: http://www.tradingeconomics.com/romania/inflation-cpi [Accessed 14 May 2015].
25
European Comission, (2015). Country Report Romania 2015 Including an In-Depth Review on the prevention and
correction of macroeconomic imbalances. [online] Available at:
http://ec.europa.eu/economy_finance/eu/countries/romania_en.htm[Accessed 14 May 2015].
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Graphic no.5: Romania: Unemployment Rate 2006-201426
Social Factors
This part of the analysis has the aim to give to the reader a good image of how a nation works
from a socio-cultural point of view.27
According to CIA – The World Factbook, Romania has in the present a population of 21 666
350, a little decreased from the previous year. This is especially a consequence of the massive
migration of Romanians to other countries.
Internally, since 2008, the population growth rate is slightly increasing, but in the present it is
still negative, with a value of -0.3%. The death rate follows the same tendency, registering
currently 11.9/1000 population.
According to statistics, it can be seen that there is a great desire among population about
switching from the country side to the cities. Currently, the urbanization in the country represents
54.6% of the entire population.
According to the present age structure, the population between 0-14 represents 14.49% of the
population, population between 15 and 25 is 19.94% of the population, population between 25
26
Tradingeconomics.com, (2015). Romania Unemployment Rate | 2006-2015 | Data | Chart | Calendar | Forecast.
[online] Available at: http://www.tradingeconomics.com/romania/unemployment-rate [Accessed 14 May 2015].
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and 54 is 12.92% of the population and the population of more than 65 years represents 15.73%
of the total population. Taking this into consideration, it can be said that approx. 60% of the
population is able to work. In connection, the male life expectancy is registered at 71.4 years and
the female one is registered at 78.5 years.
When it comes about the Average of Gross Monthly Wage in Romania, in May this year it has
been placed at 2500 RON (566 euros), lower than previous month when it has been registered at
2564 RON (580 euros).
Graphic no.6: Average Gross Monthly Wages in Romania28
In connection with the Healthcare System, this year, the Health expenditure was registered at
5.3% of the total GDP.29
Technological Factors
This last part of the PEST Analysis has the role to show how much influence has the technology
a country.
28
Tradingeconomics.com, (2015). Romania Average Gross Monthly Wages | 1991-2015 | Data | Chart | Calendar.
[online] Available at: http://www.tradingeconomics.com/romania/wages [Accessed 5 Aug. 2015].
29
Cia.gov, (2015). The World Factbook Romania Demographics. [online] Available at:
https://www.cia.gov/library/publications/the-world-factbook/geos/ro.html [Accessed 5 Aug. 2015].
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It can be said that Romania is following a fast-evolution line in terms of technology
development.
When it comes about the information technology (IT), Romania is one of the fastest-growing
markets from the Central and Eastern Europe. For over the past 15 years, significant progresses
have been seen especially within fields like Internet, IT and ICT (information and
communication technology).
Moreover, Romania is the Europe‟s leader when it comes about the number of certified IT
specialists. In the World‟s top, the country places itself on the sixth position.30
There are many significant facts to be mentioned about Romania, when it comes about the
medicine evolution. Romania can be proud about many discoveries that Romanian scientists
made over the centuries. For example, “Victor Babes discovered more than 50 germs and a cure
for a disease named after him, babesiosis; biologist Nicolae Paulescu discovered insulin.
Another biologist, Emil Palade, received the Nobel Prize for his contributions to cell biology.
George Constantinescu created the theory of sonics, while Lazăr Edeleanu was the first chemist
to synthesize amphetamine and also invented the modern method of refining crude oil. Costin
Nenițescu found new methods for the synthesis of pirilium salts, of carbenes, tryptamine,
serotonin, two new syntheses for the indole nucleus, and a new method of polymerisation of
ethylene.”31
It goes without saying why Romania invests aggressively in developing and promoting its
biotechnology industry. Yearly, millions of dollars are invested into this sector to fund the
research and development, to recruit elite international scientists and to build-up its
infrastructure. The key-areas of the bio-industry with which it can easily compete on the global
30
Managementdynamics.ro, (2015). Management Dynamics in the Knowledge Economy. [online] Available at:
http://www.managementdynamics.ro/index.php/journal [Accessed 5 Aug. 2015].
31
RomanianStartups.com, (2015). About Romania | RomanianStartups.com. [online] Available at:
http://www.romanianstartups.com/about-romania/ [Accessed 5 Aug. 2015].
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market, are: pharmacogenomics, protein engineering, glyco-engineering, tissue engineering, bioinformatics, genome medicine and preventive medicine.32
According to MarketLine, the Research and Development (R&D) field is undertaken by higher
education institutions and various public or private research institutes. However, the expenditure
on the field is below the EU‟s average. According to the last measures, made in 2012, the
Research and development expenditure (% of GDP) in Romania was registered at 0.59% and by
2020 it is expected to rise to 2%.33
Graphic no.7: Romania R&D Expenditure - % of GDP34
Romanian Healthcare Providers Market
The Romanian Healthcare Providers Market or the private medical sector represents one of the
fastest-growing markets within the country, for both internal and external players.35
32
http://www.romanianstartups.com/about-romania/ [Accessed 5 Aug. 2015].
33
34
Tradingeconomics.com, (2015). Research and development expenditure (% of GDP) in Romania. [online]
Available at: http://www.tradingeconomics.com/romania/research-and-development-expenditure-percent-ofgdp-wb-data.html [Accessed 5 Aug. 2015].
35
www.acsvienna.com, (2015). Trade and Investments Opportunities in Romania - Q1. [online] Available at:
http://acsvienna.com/wp-content/uploads/2015/03/Market-and-Investment-Opportunities-Romania-Q1-2015.pdf
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Presently, the Romanian Healthcare Scene is formed by Public Hospitals, Private Hospitals and
Private Practices. In the below table is presented the current situation of the Romanian
Healthcare system:
Table no.1: Overview of the Romanian Healthcare system36
By looking at this table, it can be seen the evolution of the private healthcare system, to the
detriment of the public one, which keeps to deteriorate and the chances for significant
improvements to soon are too low. Since 2008, the number of public hospitals decreased from
428 to 364 in 2013 as well as the number of doctors from the public hospitals, from 42 700 to 40
000.
The number of private hospitals increased from 80 to 134 in the 5 years-period, such as the
private practices which increased from 7 400 to 9 200.
According to the latest statistics, in 2013, this sector registered a total expenditure on 9.2 bln.
dollars (2.9% CAGR – compound annual growth rate). As it can be seen, from 2009 until 2013
the %Growth of the sector had a discouraging evolution, reaching even a negative value of 1.1%.
37
One of the most important factors that led to this result was the public repression and the
constant governmental disputes regarding the privatization of the Private Healthcare Providers
Sector.
36
www.acsvienna.com, (2015). Trade and Investments Opportunities in Romania - Q1. [online] Available at:
http://acsvienna.com/wp-content/uploads/2015/03/Market-and-Investment-Opportunities-Romania-Q1-2015.pdf
37
www.marketline.com, (2015). Healthcare Providers in Romania 2015. [online] Available at:
http://www.marketline.com
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Table no.2: Romanian Healthcare providers sector - $ billion 2009-201338
Graphic no.8: Romanian Healthcare providers sector - $ billion 2009-201339
Though, this market is in constant development, starting actually to become a trend among the
country‟s population. Some of the most important aspects that make this market sector to be so
prospering are:
-
The continuous development of private practice infrastructure
38
39
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-
The continuous increased demand for good/improved medical services
-
The deterioration of the public medical sector
-
The demand for complex medical tests and examinations and various „sophisticated‟
laboratory tests, depending on the medical specialization and the latest technological
developments
-
The implementation by the private providers of prepaid medical services40
By 2018, the performance of the sector is expected to grow with an anticipated CGAR of 5.7%,
which would have a value of 12.2 bln dollars, by the end of the same year.41
Tableno.3: Romanian Healthcare providers sectors - $billion forecast: 2013-2018 42
40
www.frdcenter.ro, (2015). The Medical and Dental Equipment Market in Romania 2010-2013. [online] Available
at: http://www.frdcenter.ro/assets/Medical-and-Dental-Equipment-Market-Romania.pdf
41
ltd, R. (2015). Healthcare Providers in Romania - Research and Markets. [online] Researchandmarkets.com.
Available at: http://www.researchandmarkets.com/reports/2893852/healthcare-providers-in-romania [Accessed 5
Aug. 2015].
42
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Graphic no.9: Romanian Healthcare providers sectors - $billion forecast: 2013-2018
General information about Sibiu County
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Figure no.1: Sibiu County Map
The County of Sibiu is placed in the Center of Romania and it is a part of the west-center region
called Transylvania. The county‟s area is 5 433 km2, which means 2.3% of the total country‟s
area.
According to the last statistics (in 2012), the county has a population of 375 992, the
urbanization level is estimated at 68.1% and it faces an intense demographic aging process.
According to specialists, the trend follows the same line until 2050.43
43
http://www.adrcentru.ro/, (2015). Profilul Județului SIBIU - Oportunități de dezvoltare și afaceri. *online+
Available at:
http://www.adrcentru.ro/Document_Files/ADStudiiRegionale/00001264/lnr8o_Profil%20judetul%20Sibiu_actualiz
at%2010.09.2012.pdf [Accessed 7 Aug. 2015].
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Graphic no.10: The evolution of Sibiu County‟s population: forecast: -205044
Though, when it comes about the county‟s economy, it can be said that it follows a progress
trend, this year, registering a 7.7% increase in the average monthly salary. Currently, the salary
within Sibiu is 1 784 RON (404 euros). Compared to the rest of the country, Sibiu is on the top 5
counties that bring the salary level close to Bucharest.45 This fact underlines the area‟s
prosperity.
According to Romanian National Institute of Statistics, Sibiu County has one of the lowest
unemployment rates within the country. This is 4.3% and according to the specialists it is close
to the one from 2008, when the crisis hit Romania.
44
http://www.adrcentru.ro/, (2015). Profilul Județului SIBIU - Oportunități de dezvoltare și afaceri. [online]
Available at:
at%2010.09.2012.pdf [Accessed 7 Aug. 2015].
45
Ziare.com, (2015). Top salarii 2015: Sibiul e pe locul 5 la salarii in Romania - Tu ce salariu ai? | Sibiu | Ziare.com.
[online] Available at: http://www.ziare.com/sibiu/stiri-actualitate/top-salarii-2015-sibiul-e-pe-locul-5-la-salarii-inromania-tu-ce-salariu-ai-5518643 [Accessed 7 Aug. 2015].
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Graphic no.11: Evolution of unemployment rate in Sibiu County between 2007 and 201546
When it comes about Health and Social Assistance, in 2012 have been registered a total number
of 265 with activity in accordance, from which 3 of them have between 50 and 250 employees, 9
of them have a number of employees between 10 and 50 employees and 253 have a minimum
staff between 1 and 10 employees.
Table no.4: Health and Social Assistance Institutions within Sibiu County based on the
employees‟ number47
46
Ziare.com, (2015). Somajul in Sibiu scade spre nivelul anului 2008. Doua mari companii fac angajari | Sibiu |
Ziare.com. [online] Available at: http://www.ziare.com/sibiu/stiri-actualitate/somajul-in-sibiu-scade-spre-nivelulanului-2008-doua-mari-companii-fac-angajari-5605084 [Accessed 7 Aug. 2015].
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Further on is presented an overview of the turnover, gross investments and labor productivity.
Table no.5: Turnover, Gross Investments and Labor Productivity (mil. RON) in 2012 within
Sibiu County, registered by Health and Social Assistance Institutions48
*1 RON = 0.226654 EUR
21 353 mil. RON = 4 839 mil. EUR
69 mil. RON = 15.639 mil EUR
As it can be seen, in 2012, the turnover registered by the Health and Social Assistance
Institutions within the county represented 0.03% from the total turnover registered within it.
Taking into consideration the current trend of developing the national private healthcare system,
it is assumed that the turnover registered by the Health and Social Assistance Institutions within
Sibiu County has been increased more.
*1 RON = 0.226654 EUR
3 645 mil. RON = 826 mil. EUR
25 mil. RON = 5.66 mil. EUR
47
Available at:
at%2010.09.2012.pdf
48
Available at:
at%2010.09.2012.pdf
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The level of investments within Health and Social Assistance Institutions is 3% from the total
value of investments within the county. Unlike other regions from Romania, it can be seen that
Sibians (people who live in Sibiu County) take a little bit more care of this sector, even though it
is well known that at national level the health system suffer the most.
Sibiu Municipality
Figure no.2: Sibiu County Emblem
The most important municipality within the county is represented by the county seat with the
same name. Covering 2.2% from the total county‟s area, Sibiu Municipality has a population of
147 259 inhabitants, which cover 39% from the entire county‟s population. In contrast to the
accelerating demographical aging process registered at county level, in the Sibiu Municipality
the process is much slower, due to the fact that the city has an accentuate industrial character and
a very developed sense for the service sector, especially after the fall of the Communism.
Moreover, Sibiu Municipality represents a very important medical center not only for the
Transylvania region, but also for the country. In connection, the city disposes of a significant
number of healthcare institutions.
These are the healthcare indexes relevant in connection to the Sibian health care providers sector
:
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Figure no. 3: Healthcare providers Sector – Sibiu segment 201549
As it can be seen, when it comes about skill and competency of the medical staff, Sibiu scores
relatively high (66.67). For Clinimed, this means that, generally, it will face a strong
competitiveness from the other players already present on the market. The same thing can be said
also about the equipment for modern diagnosis indicator.
Though, a good opportunity for Clinimed can be given by the „speed in completing examination
and reports‟ indicator, which is rated as being moderate, scoring only 50 point out of 100.
Porter’s 5 Forces
Michael E. Porter developed this market analysis model in order to help the companies to get a
comprehensive understanding of the industry which a company wants to penetrate. The aim of
this model, is to assess the level of the competitiveness within the market, in order to help the
company to develop a proper strategy to increase its competitive advantage.50
49
Numbeo.com, (2015). Quality of Life Comparison Between Sibiu, Romania And Hanover, Germany. [online]
Available at: http://www.numbeo.com/quality-oflife/compare_cities.jsp?country1=Romania&city1=Sibiu&country2=Germany&city2=Hanover [Accessed 11 Aug.
2015].
50
Kaumba, H. (2014). Porter's Five Forces Model | Strategy framework. [online] Entrepreneurial Insights. Available
at: http://www.entrepreneurial-insights.com/porters-five-forces-model-strategy-framework/ [Accessed 1 Aug.
2015].
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Figure no.4: Porter‟s 5 Forces Model51
Michael E. Porter developed this market analysis model in order to help the companies to get a
comprehensive understanding of the industry which a company wants to penetrate. The aim of
this model, is to assess the level of the competitiveness within the market, in order to help the
company to develop a proper strategy to increase its competitive advantage.
The model consists of five important competitive forces that affect any market. The role of this
market division is to help the company to determine the level of the competition from the chosen
market. By using this model, the company detects the market‟s attractiveness and profitability.
Threat of new entrants
This force determines how easy is for the company to enter the new market. if the barriers to
enter are few, the degree of rivalry increases, meaning that if for example several companies
compete for the same market share, the profits will fall. The threat of new entrants is given
by:
51
Jurevicius, O. (2015). Porter's Five Forces | Strategic Management Insight. [online]
Strategicmanagementinsight.com. Available at: http://www.strategicmanagementinsight.com/tools/porters-fiveforces.html [Accessed 1 Aug. 2015].
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-
Low capital required for entering the new market
-
Leak of brand reputation, patents or trademarks
-
Leak of government regulation
-
Leak of customer loyalty
-
Low switching costs for the customers
-
Identical products52
Presently, in Romania, the number of private healthcare providers is relatively small, in
comparison with other countries, but with a strong tendency of increasing, because of the
people‟s need of “being taking good care of their health”. Thus, new entrants face a relative
strong competition from the existing players. However, the switching costs are smaller for
the individual buyers.
What strengthens this force is the differentiation due to the specialist care that each player
focuses on.
Moreover, in Romania, before being established on the market, the private healthcare
services and facilities must be ratified by the Ministry of Health and all the medical
equipment must meet strict regulations and (National and European) standards regarding
quality, safety and effectiveness.
Even though this market sector suffered a significant decline in the past few years, fact that
made it less attractive for new entrants, the constant interest of Romanian Government in
privatizing the national healthcare system still represents an important point of interest for
new entrants.
Taking all this into consideration, the threat of new entrants can be assessed as moderate.
52
Strategicmanagementinsight.com. Available at: http://www.strategicmanagementinsight.com/tools/porters-fiveforces.html [Accessed 1 Aug. 2015].
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Diagram no.1: Factors influencing likelihood of new entrants in the healthcare providers
sector- Romania53
Threat of subsidies
This force threatens when customers easily substitute products or services with other ones
that have better quality or more attractive prices. This force increases the level of rivalry
when buyers switch from one product to another with little costs.54
The only possible substitute for the conventional medicine is the alternative one, defined by
different healthcare practices that are not taught nor practiced in the standardized medical
institutions. The alternative medicine refers to any practice that its user belief in its healing,
without scientific proof. This type of practices is based on religion, tradition, superstition or
belief in supernatural energies.
53
Industry Profile, M. (2014). Healthcare Providers in Romania. www.marketline.com.
Mindtools.com, (2015). Porter's Five Forces: Assessing the Balance of Power in a Business Situation. [online]
Available at: http://www.mindtools.com/pages/article/newTMC_08.htm [Accessed 1 Aug. 2015].
54
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Examples of alternative medicine practices are homeopathy, naturopathy, chiropractic,
energy-medicine, various forms of acupuncture, traditional Chinese medicine, Ayurveda
medicine, and Christian faith healing.
Even though this new „type‟ of medicine is in its ascending beginning, there is still a
consistent majority of population within the Romanian private healthcare providers sector
that remains faithful to the conventional medicine. Thus, it can be assessed that the threat of
subsidies is moderate.
Diagram no.2: Factors influencing the threat of substitutes in the healthcare providers
sectors- Romania55
Bargaining power of Buyers
When it comes about the buyers power, the company should take into consideration how
easy is for the buyers to lower the price. The bargaining power of buyers increases the degree
of rivalry if: the number of customers is high, the switching costs from a product/service to
55
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another are more attractive, etc. the same case applies also if there are fewer customers but
very important for the company.56
Within the Romanian private healthcare providers sector, the buyers vary from individual
customers, to big health insurance companies. This is why many of the players present on the
market offer services for general medicine and various other specializations that could be
used by individuals, as well as services for work-medicine, which are important for all sizes
companies.
At a first glance, it appears that the products and services offered on this market segment
look undifferentiated, the differentiation lies in the quality and the reliability of the products
and services. These are given by the quality of the materials and equipment used, the degree
of specialization, the variety of medical fields and so on. The buyers are very sensitive to all
the mentioned criteria, since they are having the concept of “spending money well” in mind.
Another important fact about the Romanian private healthcare providers sector, when we talk
about buyer-power, is that the provided products and services are not necessarily vital for
buyers. Though, generally speaking, they are essential and this reduces the buyer-power.
Overall, the bargaining power of buyers can be assessed as moderate.
56
Mindtools.com, (2015). Porter's Five Forces: Assessing the Balance of Power in a Business Situation. [online]
Available at: http://www.mindtools.com/pages/article/newTMC_08.htm [Accessed 1 Aug. 2015].
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Diagram no.3: drivers of buyer power in the healthcare providers sector- Romania57
Bargaining power of Suppliers
This is the force that shows how much the suppliers can drive up the prices. The suppliers‟
control on the market is represented for example by the uniqueness of their products or
services, more attractive switching cost, etc. When entering a new market, the company
should take into consideration that the suppliers are powerful on a market if they are fewer on
the market but it depends on them.
When it comes about the suppliers for the private healthcare providers sector, we refer to
pharmaceutical companies, healthcare equipment suppliers and qualified staff. What give the
biggest power to this force, are the pharmaceutical companies. Even though they are many on
the market, what is the most important when choosing one to collaborate with is the reliable
quality that it offers. This is why players cannot use alternative inputs that could end up
being below the required standards. Moreover, taking this into account, the suppliers can
easily negotiate higher prices. A weak point when talking about the supplier-power is the
57
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existence on the market of many large pharmaceutical companies that provide similar drugs
at different prices. Thus, the main players on the market can easily choose the cheapest
supplier.
When talking about the healthcare equipment, the main players on the market are very costsensitive. For example, they will not will to invest in equipment that have little improvements
compared to previous models. This is why suppliers have to constantly updated to the
constant scientific and technological evolution, in order to be able to successfully compete
with the others suppliers. This fact strengthens the supplier-power. In connection with the
constant evolution of medicine, there are many EU and National regulations that have to be
respected, such as labeling requirements, marketing and promotion schemes, quality
requirements and others.
All in all, it can be said that the bargaining power of suppliers is high within the Romanian
private healthcare providers sector.
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Diagram no.4: Drivers of supplier power in the healthcare providers sector- Romania58
According to Florin Balanica, the director of the private hospital “Europe Eye Hospital”, “the
healthcare providers sector remains an attractive one anytime, given the fact that this private
players substitute the public healthcare services.
Competitive Rivalry (Industry Rivalry)
According to Porter, the most important competitive force from a market is represented by
the degree of rivalry between the present companies from that market. If there are many players
on the market, means that there is a variety of quality products and services, which means that
the customers will switch easier between them. In contrast, when the degree of rivalry is low, the
company can set prices without concerning the customers‟ preferences too much.59
For Romanian Healthcare Providers Sectors, the Degree of Rivalry is estimated as being
moderate. This is given by facts like leak of diversity, moderate cost switching, the number of
players and distribution of undifferentiated services.
58
Kaumba, H. (2014). Porter's Five Forces Model | Strategy framework. [online] Entrepreneurial Insights. Available
at: http://www.entrepreneurial-insights.com/porters-five-forces-model-strategy-framework/ [Accessed 1 Aug.
2015].
59
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Diagram no.5: Drivers of degree of rivalry in the healthcare providers‟ sector-Romania60
Competitors Analysis
This section has the role to make the Porter‟s 5 Forces Analysis more specific for Clinimed
Medical Center , in connection with their desire to expand on the Sibian segment.
Two of the most important competitors that Clinimed has to face when entering the Sibian
Private Healthcare Providers Sector are TEMPOMED SRL and Intermedica SRL. Both of them
long time and good experience on the market and it can be seen from their revenues.
Further on, are presented the two competitors through the Porter‟s 5 Forces.
Tempo Med SRL Sibiu
60
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“The Place where you are consulted in due time; Because we care about your time!”
-
Website: www.tempomed.ro
-
No Facebook page
-
Placed in the south area of Sibiu Municipality
-
Relevant financial information: 61
o Total Revenue = 258 682 RON ~ 58 636 EUR
o Total Expenses = 171 741 RON ~ 38 929 EUR
o Gross Profit
= 86 986 RON ~ 19 717 EUR
o Net profit
= 79 224 RON ~ 17 958 EUR
Table no.12: TEMPO MED SRL latest financial data: Total Revenue, Total Expenses,
Gross/Net Profit62
A very important fact to take into consideration about TEMPOMED SRL, is that it has a Special
Offer for their patients: A consultation at one of the clinic‟s specialists offers an automatic
discount of 40% to any other consultation within the clinic.63
61
Date-financiare.ro, (2015). TEMPO MED SRL - CUI 29782592 JUDET SIBIU. [online] Available at: http://www.datefinanciare.ro/29782592-tempo-med-srl [Accessed 9 Aug. 2015].
62
Date-financiare.ro, (2015). TEMPO MED SRL - CUI 29782592 JUDET SIBIU. [online] Available at: http://www.datefinanciare.ro/29782592-tempo-med-srl [Accessed 9 Aug. 2015].
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Though, a weakness can be noticed: the TEMPOMED leaks of taking care of the communication
channels. For example, the clinic does not have a Facebook page and its official website is not
working properly in all types of browsers.
What TEMPOMED brings new on the market is the specialization in sonography, with the
related services.
Tempo Med
SRL Threatof New Entrants
Distribution
Differentiation
Level
Access
5
4
3
2
1
0
Market
Growth
IP Involvement
Tempo Med SRL
Level of
Regulation
Tempomed Threat of new Entrants
Since at national level, the threat for new entrants on the Healthcare Providers Sector is
measured as being moderate, the same thing can be assumed for the Sibian segment also. Factors
like the demand for healthcare services, the relatively numerous players already present on the
market and the offering of similar service but with different „features‟ are reasons of the ease
access on the market. Though, the strict European Regulations and the fragile national ones put
some difficulty to it.
For Tempomed a good threat is a Clinic that involves more in the Intellect Property Involvement.
63
Tempomed.ro, (2015). Centrul Medical TEMPO MED. [online] Available at: http://www.tempomed.ro/index.htm
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TEMPOMED
SRL Threat of Subsidies
Switching
Costs
4
3
2
1
TEMPOMED SRL
0
Cheap
Alternative
Beneficial
Alternative
TEMPOMED Threat of Subsidies
Even though TEMPOMED has a certain position on the market, there are still many other
competitors that exceed its market share. This is given mostly by the fact that the other players
on the market offer similar services. Thus, from a scale from 1 to 5, it can be considered that,
people and companies can easily switch to cheaper and beneficial alternatives than
TEMPOMED.
TEMPOMED SRL Buyer Power
Tendency to
switch
Product
Dispensabi…
Buyer
Independe…
4
3
2
1
0
Price
Sensitiven…
Buyer Size
Financial
Muscle
TEMPOMED SRL
Oligopoly
threat
TEMPOMED Buyer Power
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When it comes about the buyer power, it can be said that there is independence of choosing from
the clients. This represents a weakness for all the players from the market. The price
sensitiveness is also relatively high, for TEMPOMED, fact that also represents an opportunity
for Clinimed.
TEMPOMED SRL Supplier Power
Switching
Costs
Importance of
Quality
5
4
3
2
1
0
Independence
Oligopoly
Threat
TEMPOMED SRL
Dispensability
TEMPOMED Supplier Power
As for all the medical centers worldwide, they usually have a close relationship with their
suppliers and switching from one to another is not a usual tendency. The same thing can be
assessed for TEMPOMED as well.
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TEMPOMED SRL Degree of Rivalry
Undifferenti
ated
Product
Number of
players
Ease of
expanding
4
3
2
1
0
Diversity
Level
TEMPOMED SRL
Cost
Switching
TEMPOMED Degree of Rivalry
For TEMPOMED, the degree of rivalry is given by the low level of diversity, relatively high
switching costs, the distribution of undifferentiated services and the relative difficult possibility
of expanding.
Medic Center Intermedica Sibiu
-
Website: www.intermedica.ro
-
Facebook page: https://www.facebook.com/pages/Centrul-Medical-Intermedica
-
Relevant financial information:64
o Total Revenue = 761 989 RON ~ 172 723 EUR
o Total expenses = 739.667 RON ~ 167 663 EUR
64
Date-financiare.ro, (2015). CENTRUL MEDICAL INTERMEDICA S.R.L. - CUI 3748805 JUDET SIBIU. [online] Available
at: http://www.date-financiare.ro/3748805-centrul-medical-intermedica-srl [Accessed 9 Aug. 2015].
49
Final Report
Paul Vasile Bogdan
MFOi0913
o Gross Profit
= 22.322 RON ~ 5 059 EUR
o Net profit
= 16 013 RON ~ 3 629 EUR
Medical Center Intermedica SRL latest financial data: Total Revenue, Total Expenses, Gross/Net
Profit65
The clinic Intermedica has a very good marketing strategy. According to their website, they have
various promotions, in different medical specializations, and very important, for different types
of patients. Some of their promotions66 are:
-
Free Dermatoscopic Examinations in the first 2 days of each month, between 13:00
and 15:00
-
Promotions for retired persons:
o General Medicine Examinations
o General Echography

Abdominal – complete

Genital (for both women and men)

Breasts, Thyroid,

For people with , other body’s soft parts
65
Date-financiare.ro, (2015). CENTRUL MEDICAL INTERMEDICA S.R.L. - CUI 3748805 JUDET SIBIU. [online] Available
at: http://www.date-financiare.ro/3748805-centrul-medical-intermedica-srl [Accessed 9 Aug. 2015].
66
User, S. (2015). Promoţii. *online+ Intermedica.ro. Available at: http://www.intermedica.ro/promotii *Accessed 9
Aug. 2015].
50
Final Report
Paul Vasile Bogdan
MFOi0913
o 100% Discount for persons with pensions below 500 RON (113 EUR)
o 50% Discount for persons with pensions between 500 RON (113 EUR) AND
1 000 RON (226 EUR)
-
Promotion for crèches and kindergartens:
o Coproparasitologic exam – 12 RON (2.7 EUR) + pharyngeal Exudate – 4
RON (0.90 EUR)67
From an economical point of view, INTERMEDICA is a very prosper clinic, that even though it
doesn‟t differentiate itself too much from its competitors through the specialized provided
services, it does differentiate itself through the approached communication and price strategies.
As proof are the substantial profits that the clinic increases yearly.
INTERMEDICA SRL Threat of new
entrants
Differentiatio
n Level
Market
Growth
Distribution
Access
5
4
3
2
1
0
IP
Involvement
INTERMEDICA SRL
Level of
Regulation
Intermedica Threat of New Entrants
It can be seen from the diagram that Intermedica is not worrying to much, when it comes about
new entrants on the Sibian market segment.
67
User, S. (2015). Promoţii. *online+ Intermedica.ro. Available at: http://www.intermedica.ro/promotii *Accessed 9
Aug. 2015].
51
Final Report
Paul Vasile Bogdan
MFOi0913
INTERMEDICA SRL Threat of Subsidies
Low Switching
Costs
5
4
3
2
1
0
Cheap
Altrnative
INTERMEDICA SRL
Beneficial
Alternative
Intermedica Threat of Subsidies
There is also a good possibility that people can switch to more beneficial alternative services
offered by other providers on the market. But, even though, the clinic has a very good marketing
strategy implemented on the market, which actually strengthen its position.
INTERMEDICA SRL Buyer Power
Buyer
Independence
4
Tendency to
3
Buyer Size
switch
2
1
0
Product
Financial
Dispensability
Muscle
Price
Sensitiveness
INTERMEDICA SRL
Oligopoly
Threat
Intermedica Buyer Power
When referring to the buyer power, Intermedica is doing well as well. Also, the clinic is larger
and more developed than Clinimed, fact proven by the good marketing and price strategies they
52
Final Report
Paul Vasile Bogdan
MFOi0913
use, the constant care for the communication channels (nice website and well-made facebook
page) and the dispensability for the provided services. These are facts that lowered especially the
price sensitiveness present on the market, for Intermedica.
INTERMEDICA SRL Supplier Power
Switching costs
Importance of
Quality
5
4
3
2
1
0
Independence
Oligopoly
Threat
INTERMEDICA SRL
Dispensability
Intermedica Supplier Power
When it comes about the supplier power, the same things as for TEMPOMED can be applied.
INTERMEDICA SRL Degree of Rivalry
Undifferentiated
Product
Number of
players
Ease of
expanding
4
3
2
1
0
Diversity Level
INTERMEDICA SRL
Low cost
Switching
53
Final Report
Paul Vasile Bogdan
MFOi0913
Intermedica Degree of Rivalry
After analyzing Intermedica‟s position on the market, it can be said that it has a relatively high
level of rivalry, due to the good way of marketing their products, which created the sense of
diversity, the attractive offers that makes patients to be loyal and the more accessible way of
expanding, especially due to their constant increasing yearly revenues.
Porter‟s 5 Forces Summary for TEMPOMED and Intermedica
Degree of Rivalry
Supplier Power
Threat of New
Entrants
5
4.5
4
3.5
3
2.5
2
1.5
1
Threat of
Subsidies
Intermedica
TEMPOMED
Buyer Power
At a first glance, it can be seen that the 2 competitors are of different sizes. Intermedica has a
bigger market share than TEMPOMED. The reason why I chosen to analyze both of the
competitors is to help Clinimed‟s Management to get a comprehensive understanding of what
challenges Clinimed will face when entering the Sibian segment of the Romanian Healthcare
Providers Sector.
When preparing to take action in this direction, Clinimed will face a relatively high degree of
rivalry, especially from Intermedica. The threat for new entering can be considered as moderate,
depending goal that the clinic‟s management want to achieve. The threat for subsidies is
relatively low, due to the constantly increasing demand for the specialized medical services. Due
to the price sensitiveness the buyer‟s power level that Clinimed will face is going to be relatively
54
Final Report
Paul Vasile Bogdan
MFOi0913
high. In contrast, due to the strong relationships between market players and their suppliers, the
clinic will face a low supplier power.
SWOT Analysis
Internal
Strengths
Weaknesses
1. Certified quality equipment combined
with very carefully selected intellectual
property of specialists within various
fields of medicine
2. Sensitive price strategy for B2B segment
- „negotiable tariffs, depending on the
1. Low development of information access
2. Low communication through various
channels
3. Low advertisement
4. Undifferentiated service lines
5. Weak developed Marketing Plan
number of employees‟
3. Sensitive price strategy for B2C
segment - attractive subscriptions,
depending the age group, gender and
different medical areas
4. Promotion of good healthcare
5. “100% TRUSTWORTHY
MEDICAL SERVICES”
6. Wide partnership network (medical
centers from all around Romania,
Hungary and Germany)
7. Reliability when it comes about health
problems-solving
External
Opportunities
1. Changes in people‟s needs – the
increasing demand of more
comprehensive and specialized
medical tests and examinations
2. The increasing demand of more
specialized medical tests and
examinations
Threats
1. Price sensitiveness among potential
beneficiaries
2. Low awareness about the clinic‟s
reputation
Marketing Mix – 4 P‟s
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Final Report
Paul Vasile Bogdan
MFOi0913
The Marketing Mix is a very useful marketing tool for any type of company, when it has decided
what strategy to follow when intending to increase awareness of its products on the market. The
4 P‟s refer to Product – in this case - Healthcare services, Price, Promotion and Place.
Product
Since Clinimed is so determined to enter the Sibian segment of the Romanian Health Care
Providers Sector, a good suggestion would be to enter the segment with all the services already
present on the Alba County segment. Moreover, because both B2B and B2C segments bring
important value to the clinic, it is difficult for Clinimed to develop only on one of the segments.
Price
When it comes about pricing, when entering the Sibian market segment, a good recommendation
for Clinimed would be to use the same pricing strategy as in Alba County. This could help a lot
the clinic to increase the awareness of its products among the sibian population. Since Sibiu
Municipality is a more developed city, the prices of the healthcare services are higher. By taking
this into consideration, the clinic will become soon popular and with passing time it strengthens
its position on the sibian segment.
Promotion
A good recommendation for the company is to follow the aggressive advertisement. First, before
following any advertisement strategy, Clinimed should improve its website and start using more
communication channels.
Some good suggestions for the mentioned type of advertisement are as follows:
-
Advertisement in specialty magazines
-
Updating and starting using the Facebook page
-
Updating official website and improving it (since it is not working properly in all typesof
internet browsers)
-
Use of posters and brochures in pharmacies and other public and private institutions
-
Sponsoring of various local sporting events
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Final Report
Paul Vasile Bogdan
MFOi0913
Place
When referring at the best location that Clinimed should have on the sibian segment, this should
be in the center area since it the most populated area from the City and it is easy to reach it, no
matter from which part of the city the potential customers can come.
Conclusion
After conducting the internal analysis, I was able to discover Clinimed‟s following competitive
advantages:
Clinimed‟s competitive advantage is given by high quality and European certified medical
equipment combined with the specialists‟ intellectual property, very carefully chosen regarding
each medical specialization.
A second competitive advantage of the company is represented by the various services for the
various medical specializations that Clinimed provides for its beneficiaries.
Another competitive advantage is given by the each pricing strategy used for B2B and B2C
segments. The clinic has „negotiable tariffs, depending on the number of employees‟, while for
the B2C segment the clinic offers attractive subscriptions, depending the age group, gender and
different medical areas.
Further on, the PEST and Analysis of Romanian Healthcare Providers Sector, presents important
aspects that are needed to be taken into consideration, when Clinimed intends to enter the sibian
segment. In completion, the competitors analysis through Porter‟s 5 Forces makes the external
analysis more specific in connection to the problem statement.
When preparing to take action in this direction, Clinimed will face a relatively high degree of
rivalry, especially from Intermedica. The threat for new entering can be considered as moderate,
depending goal that the clinic‟s management want to achieve. The threat for subsidies is
relatively low, due to the constantly increasing demand for the specialized medical services. Due
to the price sensitiveness the buyer‟s power level that Clinimed will face is going to be relatively
57
Final Report
Paul Vasile Bogdan
MFOi0913
high. In contrast, due to the strong relationships between market players and their suppliers, the
clinic will face a low supplier power.
By using the suggested Marketing Mix, Clinimed could have a lot to gain, starting with
awareness of the services and increasing of popularity.
All in all, expanding on the new market segment could bring certain risks for Clinimed, but a lot
of opportunities can be seen also.
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Paul Vasile Bogdan
MFOi0913
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62

Report of entering in Sibian market

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