Question

Topic: Strategy

How To Market A Nursing Home Located Abroad

Posted by Anonymous on 12/31/2010 at 3:11 PM ET 125 Points
I am developing a business plan for a skilled nursing facility located in Central America to be marketed to middle class Americans who do not qualify for Medicaid and cannot afford private pay when the average cost is $6000/mth, and in any event would hope to preserve some of their estate for the next generation.

We are seeking to position ourselves within the larger ambit of medical tourism, except that our residents stay for years instead of weeks. By providing world class care coupled with extreme affordability in a tropical climate, the model seems poised for success. The challenge is how to market it. Traditional nursing home marketing seems to be based on local relationships with doctors and discharge personnel, which doesn't seem suitable for us. What cost-effective suggestions are out there?

Many thanks in advance for any assistance with this.

Sincerely,
Victoria Vanasco
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RESPONSES

  • Posted by telemoxie on 12/31/2010 at 4:33 PM Accepted
    I think you could promote this through other professionals, such as attorneys, CPAs, insurance agents, possibly even social workers and financial/investment advisers.
  • Posted by mgoodman on 12/31/2010 at 7:35 PM Accepted
    I'd pick a local market, advertise in that market, and see if you can get prospects to meet with your sales rep in that market. When they do, make sure the rep has a great slide show and presentation.

    If that works, you can then experiment with a remote presentation, alternate presentation materials, different advertising, etc., and see how efficient you can make the process.

    When you have it honed and profitable, you can expand to additional markets using the most efficient approach. Of course, what works best in one market may not work best in all markets, so you'll want to continue to experiment as you expand.

    You're best off going slowly rather than trying to go fast and losing a lot of money before you know what works and what doesn't.
  • Posted on 12/31/2010 at 9:02 PM Author
    Thanks! Great ideas. When you say, " see if you can get prospects to meet with your sales rep in that market" what specific prospects do you mean?

    Happy New Year!

    Victoria
  • Posted by mgoodman on 1/1/2011 at 8:10 AM Accepted
    Prospects = People who will make the decision to move to your nursing home and have responded to your advertising.

    This might be a complex sale, since you may need to get caregivers, relatives and the resident all to agree.
  • Posted by mgoodman on 1/1/2011 at 1:35 PM Accepted
    You might consider researching the concept before you invest in advertising and sales materials. There are some very reliable approaches to learning if your target audience finds the core business concept appealing.

    Market research could be the smartest investment you'll make for this business. Let me know offline if you need more information. (Use email address in my profile.)
  • Posted by matthewmnex on 1/1/2011 at 9:38 PM Member
    Hi Vaniasco, great question and a great time to get into this booming narket.

    Phil, sorry but you need to do a little research on this BOOMING sector.

    In the Philippins and Thailand it is huge and hundreds of millions have been invested in bulding special care facilities and communities for retired Americans and Europeans.

    The residents who come, 'absoluitley love it'. And it is cheaper than staying home.

    Some simple questions I would like you yo ask.

    How are local care facilities typically marketed? have you studied their methods, literature and sales pitch + Pricing models etc?

    Compare many, pose as a prospective client and follow carefully how they work the sale.

    What are the features and benefits that they offer?

    Once you have a very clear picture of the current market and the income brackets for the clients (high - medium - low), then it will be easier for you to segment. Focus in on a specfifc segment first.

    What features do you offer that are nopt offered locally?
    What benefits do you offer that are not offered locally?
    Don't forget to split your benefits between functional and emotional benefits (sell the emotional).

    Look very very carefully at the downside issues, be completely honest with yoursalf and try to figure out in advance what the 'objections' will be. That way you can be ready with answers in advance,

    For instance, there is a cost saving for the resident/patient but what about the family? THey will have to spend money to fly down there 2 times per year to visit. Where will they stay? is it a great vacation spot so that family can combine a vacation with a visit?

    What happens when thr resident dies in a foriegn country? is it easy to make arrangements to re partriate the body what is the cost for this?

    What is the quality of the medical care offered? This question will be a very big one on the minds of the family members - even if we know that the level o care is great, there is always a lingering doubt in the minds of many Americans about foreign care. Will you have American doctors on site? At least one resident american could help to quell those fears.

    First research fully the market
    second formulate your business plan and revenue model
    third formulate your marketing message / sales pitch
    fourth figure out the communication / distribution channels.
    (telemoxie whent straight to the channels).

    I think you have a fabulous proposition but getting the mix exactly right and the correct country to do this is absolutely critical.

    Good luck and feel free to get in touch any time if you would like to discuss further.

    Matthew
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