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 financing (2 questions).

In the health care industry, there are many stakeholders who have different interests. These must be taken into account when taking decisions. This constituency can be divided into four major groups, including patients and their family members, health care providers and insurers.

In any medical facility, patients and families will be the main beneficiaries. These institutions are expected to deliver quality services which address their specific needs.

Doctors, nurses, technicians and assistants are all considered health care providers. Without them, the treatments would not be possible. It is also important for the salaries to remain competitive because of the high level of training that’s required to do the various jobs.

Insurance companies play an important role in this industry, as they provide financial protection for unexpected medical costs. Having a sufficient number of coverage options is crucial for patients and healthcare providers to prepare them for the potential risks that may be associated with their treatment plans. Last but not least, investors are always looking to make a return on their investments due to the costs of running an organisation over time.

In general, each stakeholder has a role to play in helping health care institutions operate effectively and provide quality services at affordable 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.